Obama Vs. Job Creators

by Brian Calle, California Political Review

Captains of industry have begun, in uncustomary fashion, speaking up against President Barack Obama and his policies – and the chorus will likely grow louder going into next year’s presidential election, perhaps swaying independent voters. The president may dismiss the chorus as the rantings of greedy “corporate jet owners,” but he may soon see himself on a collision course with big job creators during his 2012 reelection campaign – a time when job creation and the economy well could be issues driving the electorate.

It is usually frowned upon – even looked upon as taboo – for CEOs of major U.S. companies, and especially multinational corporations, to openly criticize the president or show outright partisanship toward or against a political party. At least publicly. But recently – and, especially, within the past month – corporate leaders have begun to openly criticize administration policies as helping to depress the nation’s business climate.

In that time, three major business leaders spoke out against the Obama administration: Bernie Marcus, the co-founder of Home Depot; Andy Puzder, CEO of CKE Restaurants (parent of Carl’s Jr. and Hardee’s); and casino tycoon Steve Wynn, CEO of Wynn Resorts. They contend that President Obama has strangled the economy and hamstrung job growth in the country. As Puzder told me directly, businesses in the country “are being actually prevented” from creating jobs because of the administration.

CEOs are typically careful, measured and scripted when making political remarks, but that approach is changing, likely because of the Obama administration’s constant demonization of corporate America.

During a well-publicized company conference call last month, Wynn, a self-described Democrat and supporter of fellow Nevadan Senate Majority Leader Harry Reid, told listeners, “This administration is the greatest wet blanket to business, and progress and job creation in my lifetime.” He added that businesses “are frightened to death about all the new regulations,” singling out Obamacare as a major challenge for companies. Fear of the administration, he said, “makes you slow down and not invest your money.”

“And those of us who have business opportunities, and the capital to do it, are going to sit in fear of the president,” Wynn said.

And Wynn predicts things will not get better unless Obama is booted from office: “I’m telling you that the business community in this country is frightened to death of the weird political philosophy of the President of the United States. And until he’s gone, everybody’s going to be sitting on their thumbs.”

Bernie Marcus echoed the sentiments of Wynn and Puzder when he recently said “Home Depot would never have succeeded if we’d tried to start it today.” “[T]he impediments that the government imposes are impossible to deal with.” “Every day you see rules and regulations from a group of Washington bureaucrats who know nothing about running a business. And I mean every day. It’s become stifling.”

John Mackey, CEO of Whole Foods Markets, who made national headlines when he publicly came out against Obamacare, recently made similar comments about the stifling business climate in the U.S. “It was a lot easier for me to start my business 30 years ago than it is for an entrepreneur starting out today to do the same thing,” Mackey said in an interview with Bloomberg TV.

Numerous other CEOs, especially in the medical industry, have warned, albeit more passively, that the president’s policies will hurt job growth and the broader economy, especially in the aftermath of the passage of Obamacare last year.

Even with mounting backlash from business community against Obama, one wonders if more business leaders will join in. Marcus believes it is essential for more CEOs to speak out but understands why they might not: “They are frightened to death – frightened that they will have the IRS or [Securities and Exchange Commission] on them,” he said. “In my 50 years in business, I have never seen executives of major companies who were more intimidated by an administration.”

To combat this, Marcus founded a new organization – based in Texas – called the Job Creators Alliance. It aims to increase the number of business leaders and job creators publicly criticizing jobs-squelching public policy. He believes doing so will help preserve the free-enterprise system. If he succeeds, we could see more outspoken CEOs just in time for the election year.

Given the moribund state of the U.S. economy, stubbornly high unemployment rates and the recent gyrations of the stock market, having an army of boisterous businesspeople chiding his administration darkens President Obama’s reelection hopes – perhaps especially if the GOP nominates a candidate with a track record of job creation to brag about, such as the governor of a state like Texas, whose economy is flourishing and business climate is welcoming.

(This piece originally appeared in the Orange County Register and was featured on Real Clear Politics and California Political Review. It appears by permission.)