Business leaders chime in on economy

WASHINGTON, Dec. 14 (UPI) -- Wal-Mart's chief executive said Sunday he sees changes in the habits of the retailer's customers during the U.S. economic recession.

In an appearance on NBC's "Meet the Press" program, CEO Lee Scott Jr. said his company has offered to help President-elect Barack Obama's administration.

"We're seeing, though, that our customers have a great deal of faith that government will take the right action and be successful in addressing the current situation," Scott said. "But the No. 1 issue today is their concern about their job."

He said Wal-Mart reached out to Obama's team to work on healthcare and energy issues.

Also appearing on the program was Google Inc. Chief Executive Officer Eric Schmidt. He said the government needs to start seeing results from the loans it is guaranteeing to financial institutions.

"It's time for that money to start working," Schmidt said. "We know that when American consumers have credit, have cash, they will spend it. That will then begin the recovery cycle, and it will be quick."

Former Hewlett-Packard Co. Chief Executive Officer Carly Fiorina said U.S. banks should be required to loan money since the government has bailed them out.

"Credit has to be loosened or small businesses and consumers are not going to be able to buy or hire," Fiorina said.