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"3M" claims US has become Anti-Business under Obama

Melensdad

Jerk in a Hawaiian Shirt & SNOWCAT Moderator
Staff member
GOLD Site Supporter
Many of us in business have been making this claim, but we here are all small business folks, the kind of businesses that you see on main street. Well here is a Wall Street type saying it like it is.

Please see the link to the Financial Times for the full and complete story:
http://www.ft.com/cms/s/0/bd9b4100-429b-11e0-8b34-00144feabdc0.html#axzz1FFxehIER

3M chief warns Obama over business regulation

By Hal Weitzman in Chicago

Published: February 27 2011 19:27 | Last updated: February 27 2011 19:27

The head of one of the US’s biggest industrial groups has launched a scathing attack on Barack Obama’s attempts to repair relations with companies, dubbing him “anti-business”. Manufacturers could shift production out of the US to Canada or Mexico as a result, warned George Buckley, chief executive and chairman of 3M. “I judge people by their feet, not their mouth,” he told the Financial Times. “We know what his instincts are – they are Robin Hood-esque. He is anti-business.”
. . .
this is a difficult place to do business. It is about regulation, taxation, seemingly anti-business policies in Washington, attitudes towards science.”

He added: “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.”

. . . criticised US immigration policy, saying the difficulty of obtaining visas was forcing companies to move research and development overseas. “About 68 per cent of our science PhD candidates are from outside the US,” he said. “Many want to stay here afterwards but we’re not allowed as many visas as we would like.”

“We are now exporting science overseas to China, India, Germany, building labs there. There’s a good strategic reason for it, but we also have no choice – if we can’t get the people here and we’re competing with the people there, we have no choice but to do it locally.”

 

ki0ho

Active member
GOLD Site Supporter
Aint OBUMER wonderful???....I think he is doing exactly what he has planed to do.....Distroy this country.......and I dont think we will have to wate for history to tell us that!!!!
 

grizzer

New member
This transfer of jobs off shore started well before Buckley. I dont think 3M has significantly hired stateside since the early 90's.

Clinton signed the NAFTA trade agreement in '92-'93?

Before that 1980's US tax law created beneficial havens such as Puerto Rico and others.

What we are seeing is the wheels coming off the middle class after decades of left wing elitists "share the wealth ideology."
 

AAUTOFAB1

Bronze Member
SUPER Site Supporter
Progressive Liberals know just what laws to create or regulate in order to nudge businesses into a corner, and they know what businesses will have to do to survive,its all done to make capitalism look bad.hoping to create a new Nirvana of share the wealth ideology,unfortunately it will only serve to bring our country to ruin.and just maybe thats what they wanted all along...
 

joec

New member
GOLD Site Supporter
Why is it then that when a liberal is in the white house big business seems to make the most money? This has pretty much been true in my life time with only one exception Carter.
 

Melensdad

Jerk in a Hawaiian Shirt & SNOWCAT Moderator
Staff member
GOLD Site Supporter
Why is it then that when a liberal is in the white house big business seems to make the most money? This has pretty much been true in my life time with only one exception Carter.

Please cite evidence of this.

Also, are they making money in the US or are they making money offshore?

Also, perhaps there are some reasons why this may (if true) be happening like the fact that liberals hate competition and stifle it leading to lower competition and higher profits, but conservatives love competition which actually drives down profits.

I'm simply not sure what you say is true. But if it is it would be nice to see a real cause and effect.
 

fogtender

Now a Published Author
Site Supporter
Why is it then that when a liberal is in the white house big business seems to make the most money? This has pretty much been true in my life time with only one exception Carter.


That would be Companies like GE, where they sold their soul to ride the Obama Train...

They are getting nothing but big breaks and contracts from the Whitehouse though back doors and side streets.

Clinton took the lid off dealings with China and let choice companies do dealings there as well selling our technology that was off limits as well.
 

joec

New member
GOLD Site Supporter
Please cite evidence of this.

Also, are they making money in the US or are they making money offshore?

Also, perhaps there are some reasons why this may (if true) be happening like the fact that liberals hate competition and stifle it leading to lower competition and higher profits, but conservatives love competition which actually drives down profits.

I'm simply not sure what you say is true. But if it is it would be nice to see a real cause and effect.

That is easy, simply go back and look at the stock markets when liberal are about and take office. Compare that to conservatives during the same century. Fact is in spite of more rules generally under liberals business does pretty well. Simply look at the stock exchange today under Obama and compare it to Bush. Not hard to figure out really.
 

jpr62902

Jeanclaude Spam Banhammer
SUPER Site Supporter
That is easy, simply go back and look at the stock markets when liberal are about and take office. Compare that to conservatives during the same century. Fact is in spite of more rules generally under liberals business does pretty well. Simply look at the stock exchange today under Obama and compare it to Bush. Not hard to figure out really.

This chart doesn't really bear out your theory, Joe:

http://stockcharts.com/charts/historical/djia1900.html
 

joec

New member
GOLD Site Supporter
Really you might want to examine it again. It seems to be climbing steadily. Then you might want to look at the year span.
 

jpr62902

Jeanclaude Spam Banhammer
SUPER Site Supporter
The stock market hit its all time peak under Dubya despite 9/11 and 2 wars following that. Not saying Bush was any great steward of the economy, just that the logic is waaaaaay too simplistic.
 

joec

New member
GOLD Site Supporter
Ok so take it for what it is worth, stock market is highest under liberal president not republican over the last century till today. Now if you can't see that then I don't know what you are seeing. I guess we don't read these charts the same way.
 

Melensdad

Jerk in a Hawaiian Shirt & SNOWCAT Moderator
Staff member
GOLD Site Supporter
Stock market peaks do not equal profit peaks. In fact some market highs are hit without profitability (tech bubble!)
 
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