3M CEO blasts Obama as anti-business: report

NEW YORK Sun Feb 27, 2011 7:42pm EST

Chairman, president and chief executive officer at 3M, George Buckley speaks during the Confederation of British Industry (CBI) conference in London, November 24, 2008. REUTERS/Suzanne Plunkett

Chairman, president and chief executive officer at 3M, George Buckley speaks during the Confederation of British Industry (CBI) conference in London, November 24, 2008.

Credit: Reuters/Suzanne Plunkett

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NEW YORK (Reuters) - The chief executive of diversified manufacturer 3M Co called President Barack Obama anti-business in an interview with the Financial Times, arguing that manufacturers could move to Canada or Mexico as a result.

"We know what his instincts are -- they are Robin Hood-esque," 3M CEO George Buckley told the paper. "He is anti-business."

Obama is working to shed the reputation that he is against the business community. Earlier this month, he assembled a group of top U.S. executives, chaired by General Electric Co Chief Executive Jeffrey Immelt, to advise him on economic matters.

He also brought on JPMorgan Chase executive William Daley as his chief of staff and made a high profile speech to the Chamber of Commerce, a business lobby, earlier this year.

But Buckley said he was not yet convinced by Obama's actions.

"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," he told the Financial Times.

A 3M spokesman could not immediately be reached for comment.

(Reporting by Michael Erman; Editing by Bernard Orr)

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Comments (4)
Winghunter wrote:
It’s too bad lenders didn’t have the same courage to tell Clinton, his administration and several Congressmen (including Obama), where to go and how to get there – we wouldn’t be in half the mess we’re in now: Video: Peter Wallison: Government Policy Caused Housing Crisis http://bit.ly/fHJFVZ

Feb 27, 2011 8:39pm EST  --  Report as abuse
mrtutto wrote:
That’s fine move your operations to Mexico or Canada as long as you are prepared to pay an incredible import duty if you want to sell your products in the USA. That is really the only way to deter these multinational companies from setting up companies in other countries and at the same time enjoying American tax breaks.

Feb 28, 2011 1:11am EST  --  Report as abuse
Eddybal wrote:
Wow, what a clear statement of power. Multinational companies go to where production is the cheapest for only one reason: because they can. This is happening in the US as much as in European countries and Japan. It has nothing to do with business climate in the home country. CEOs regularly shoot the blame onto high manufacturing costs in the US to foster the climate of fear. Wages in the western world need to come down, otherwise we leave. I am waiting for the day when consumers start voting with their wallets and dismiss the Walmarts of the world.

Feb 28, 2011 3:24pm EST  --  Report as abuse
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