The real reason companies aren't hiring - wistv.com - Columbia, South Carolina |

The real reason companies aren't hiring

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CHARLOTTE, NC (WBTV) - Bank of America CEO Brian Moynihan says most big companies have recovered from the recession.

Speaking at the Charlotte Chamber of Commerce's annual economic outlook conference, he told a crowd of over 600 professionals that "companies have done very well. They've gotten very efficient in this cycle. They're able to build cash, they're able to get their costs down."

So wouldn't it be nice if you could say the same? The truth is, companies are doing well, but people aren't. And the reason why is downright scary.

"U.S. companies are not as linked to the U.S. worker as they have been in the past," Moynihan said. "And how does that happen? They import, they export. They build things overseas."

In a sense, companies, these major executives say, have learned to do without lots of employees, and Nucor CEO Dan DiMicco says don't expect them to act like superheros and hire anyway…not when they're so upset about big government.

"Business leaders in this country are scared to death to do things, to hire people, to invest," DiMicco said, "because they're certain the wrong things are being done and they don't see the right things being done in Washington today."

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