I read an interesting article in Friday’s NY Times about Anthony Scaramucci and his recent exchange with President Obama. I spent an hour or so with Mr. Scaramucci about a month ago at 5WPR and I was impressed with his background; as the NY Times states, “He did not grow up with a silver spoon in his mouth… he went to public school.”  He struck me as an ambitious entrepreneur and – admittedly – I really wanted him to hire us as his PR agency, and was quite disappointed when he didn’t.

During his recent exchange with President Obama, he said, “We have felt like a piñata. Maybe you don’t feel like you’re beating us with a stick but we certainly feel like we’ve been whacked with a stick.” Speaking of the “connection between Wall Street and Main Street,” he returned to his theme. “When are we going to stop whacking Wall Street like a piñata?” The self made Scaramucci mentioned his 43 employees how in New York City “a $50,000 employee will cost him $90,000, and that person will bring home only about $35,000.  Seems very disconnected, and that doesn’t encourage job growth.”

(The exchange can be viewed at: http://www.businessinsider.com/anthony-scaramucci-pals-around-with-president-obama-2010-9)

As a small business owner in New York, one who isn’t part of the Wall Street community, I share exactly his sentiments.  Why is it that there isn’t attention directed to people who create jobs and opportunity – the same people that can create jobs further down the line? Wouldn’t the government want to encourage entrepreneurs rather than tax and hamper them further? Obama’s answer, discussing the Top 25 hedge fund managers who brought home $1 Billion didn’t resonate with many entrepreneurs, like myself, who don’t make anywhere near $1 billion; and yes I aspire to do so, as do so many others.  Is that a bad thing – something we should discourage in our capitalist country?

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I am frustrated with continued tax increases, the inability of businesses to get financing, and increased government intervention. I fail to understand how any small business owner in New York can’t feel the same way and applaud Scaramucci for letting President Obama know how he felt.  (Anthony – You still should have hired us!).

Wall Street, and all of the other industries which create jobs, is Main Street, and it does create opportunities for the entire U.S.

Ronn Torossian


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Ronn Torossian is the Founder & Chairman of 5W Public Relations, one of the largest independently owned PR firms in the United States. Since founding 5WPR in 2003, he has led the company's growth and vision, with the agency earning accolades including being named a Top 50 Global PR Agency by PRovoke Media, a top three NYC PR agency by O'Dwyers, one of Inc. Magazine's Best Workplaces and being awarded multiple American Business Awards, including a Stevie Award for PR Agency of the Year. With over 25 years of experience crafting and executing powerful narratives, Torossian is one of America's most prolific and well-respected public relations executives. Throughout his career he has advised leading and high-growth businesses, organizations, leaders and boards across corporate, technology and consumer industries. Torossian is known as one of the country's foremost experts on crisis communications. He has lectured on crisis PR at Harvard Business School, appears regularly in the media and has authored two editions of his book, "For Immediate Release: Shape Minds, Build Brands, and Deliver Results With Game-Changing Public Relations," which is an industry best-seller. Torossian's strategic, resourceful approach has been recognized with numerous awards including being named the Stevie American Business Awards Entrepreneur of the Year, the American Business Awards PR Executive of the Year, twice over, an Ernst & Young Entrepreneur of the Year semi-finalist, a Top Crisis Communications Professional by Business Insider, Metropolitan Magazine's Most Influential New Yorker, and a recipient of Crain's New York Most Notable in Marketing & PR. Outside of 5W, Torossian serves as a business advisor to and investor in multiple early stage businesses across the media, B2B and B2C landscape. Torossian is the proud father of two daughters. He is an active member of the Young Presidents Organization (YPO) and a board member of multiple not for profit organizations.