My Key Takeaways from the National Summit

As I wrap up three days in Detroit let me give you my key takeaways.

1. Detroit will reinvent itself. I have no doubt. It will be a struggle but they understand what lies ahead and they know how important manufacturing is to this economy. Manufacturing jobs employ at least 10 million people and pay 20% more than service jobs. Manufacturing jobs are highly technical, require highly skilled workers and there is a talent shortage for some of those jobs. It will be a long road ahead but the blueprint is located in the city of the upcoming G20 summit this fall; Pittsburgh.

2. Too much overregulation and higher taxes are a big concern for corporations. They're concerned about remaining competitive. Ultimately about repatriation. They want to make sure U.S. companies are not disadvantaged. Some executives said U.S. companies are competing with other countries as opposed to other companies. They want to make sure the U.S. is doing its part to make business more viable. They all agree it takes both the government and the private sector working together.

3. Certainty is crucial. Ambiguity is dangerous. The perfect example is the proposed changes to CAFE standards. Many executives pointed out how each stakeholder contributed to an agreement that everyone mutually agreed upon. Each party made a concession but a long the way they removed uncerainty and created clarity for business, government and each stakeholder at the party.

4. To win, to compete means we need to innovate. That means taking risks. We have the lowest cost of capital in the world and we better keep an eye on China. Some say we are the G2. We are so interconnected and co-dependent on each other. China is innovating. Making huge technological strides and making a tremendous investment in climate change. Spending $12 million an hour on renewable energy. They have some of the best and most efficient manufacturing facilities in the world. Some of the best education systems. We need them financially to finance our debt and they need us to export those goods. This relationship is crucial. Protectionism is dangerous but it is imperative that the U.S. still remember that we are the free market economy that fuels the engine, that supports rule of law and freedom of information. Bremmer from Eurasia Group noted China's savings rate was 25% last year. The U.S. negative 2.5%. We will save more and as they're middle class rises they will save less. Interesting thought!

5. Nuclear power will be a part of the energy portfolio and the groundswell to raise awareness about its merits and its costs are gaining steam. When I questioned the green czar Van Jones about the nuclear portfolio he quickly pointed out that we (the administration) did select Secretary Chu as the Energy Secretary. I.e. Chu is a big supporter of nuclear as an option.

6. RIM's Balsillie sees an opening with healthcare reform and he is beginning what could be a revolutionary way of accessing your physicians, nurses and practioners. Think concierge service through your smartphone. It's not just about electronic records. It's about diagnostics.

7. Watch Van Jones, the White House's green czar on jobs. I see a future in politics and his name and face in the spotlight. Trust me.

8. Michael Klein former Vice Chairman of Citi who left last summer will be running a major financial institution when his non-compete expires. He didn't get the top job in the management shake up but did secure the funds needed from Abu Dhabi when the Citi crisis began. He consulted on Barclays purchase of Lehman's asset. Has been consulting for the U.K. Government on banking regulations. Watch him. He had an 18 month non-compete which I believe expires this fall.

9. Watch Codexis. Big investments from Royal Dutch Shell and big partnerships with pharma space. They pulled their IPO last year. Sounds like they're here to stay and they're technology is gaining steam.

10. Look for Mulally to announce a new deal with the UAW very soon. The contract with the UAW is open ended and they know what Chrysler and GM are paying. They won't tap the equity markets right away but they know they need to show improvement on the balance sheet. That is one place they can make improvements right away.