George Buckley, the boss at manufacturing conglomerate 3M, apparently didn’t get the memo about Obama 3.0 (vs. Campaign Obama and New New Deal Obama) being a “pro-business” president.
This new incarnation, the White House tell us, is evidenced by a) the hiring of lobbyist/rainmaker Bill Daley as Obama’s chief of staff, b) bringing in GE boss Jeff Immelt to run his new competitiveness council, and c) temporarily abandoning plans to raise income taxes on small business and entrepreneurs.
But Buckley is having none of it, telling the Financial Times that “we know what [Obama’s} instincts are — they are Robin Hood-esque. He is anti-business. … Politicians forget that business has choice. We’re not indentured servants and we will do business where it’s good and friendly. If it’s hostile, incrementally, things will slip away. We’ve got a real choice between manufacturing in Canada and Mexico — which tend to be pro-business — or America.”
Buckley has good reason to wonder aloud about Obama’s pre-election year conversion from nemesis to friend of Corporate America. He surely sees Team Obama failing to make obvious moves to boost U.S. global economic competitiveness. The president still supports the new healthcare and financial reform laws. The president still wants to raise taxes. And the president gave the stiff-arm to his own debt panel. So there you have it, the axis of economic evil – taxes, regulation and government spending.
Now America’s best days may lie ahead, as Warren Buffett suggests in his latest letter to Berkshire Hathaway shareholders. But the United States is becoming a less attractive place for multinationals, like 3M, to do business.
So here is how it goes.
The Obamunist don't like those stinky, ugly, polluting spewing production plants in this country.
Unfortunately, the American public wants the goods produced by those stinky, ugly, polluting spewing production plants.
So the free market systems says. Hey we can provide the American public with what it wants and we can move those stinky, ugly, polluting spewing production plants to another country that wants them.
Unfortunately, those stinky, ugly, polluting spewing production plants provide high quality jobs to a segment of our society that needs those jobs.
Instead, that segment of society gets to man the Walmarts, Best Buys around the country. Unfortunately, those jobs don't pay as well as the jobs a 3M plant would provide.
Now that you've had a taste of Econ 101 let me ask you the question. Obama's assault on business has hurt the following profession(s) the most......
2) Truck Driver
5) Corporate CEO's