President Barack Obama is chasing away manufacturers and will force them to build or assemble elsewhere thanks to heavy handed regulation in the U.S., says George Buckley, chief executive and chairman of 3M. "We know what his instincts are – they are Robin Hood-esque. He is anti-business," he says.
"I judge people by their feet, not their mouth," Buckley tells the Financial Times, referring to Obama's decision to adopt more pro-business policies, including tax cuts, spending freezes and pushing forward free trade agreements.
|President Barack Obama
On top of enacting more business-friendly policies, Obama has also appointed corporate leaders to a committee designed to find ways to lower stubbornly high unemployment rates, although for Buckley, many out there remain skeptical.
"There is a sense among companies that this is a difficult place to do business. It is about regulation, taxation, seemingly anti-business policies in Washington, attitudes towards science."
"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."
Obama has said that businesses still need to do their part to create jobs, especially in a time of roaring corporate profits and higher stock prices.
"We're not simply creating an economy in which one segment of it is doing very well, but the rest of the folks are out there treading water," says Obama, according to Time.
"I don't know exactly where your future customers come from if they don't have jobs."
© 2013 Moneynews. All rights reserved.