Warren Buffett, the sage of Omaha, was the first Obama-aire to come out against the EFCA (Employee Free Choice Act) and its card-check unionization. Now he's been joined by three other Obama-backing billionaires (did you realize that the Democratic Party has a much higher concentration of voters who make more than $100,000 a year than the GOP has?). The three nay-sayers all hail from Chicago.
One, Penny Pritzker, a Hyatt zillionaire, actually ran Obama's campaign finance committee, the one that racked up about $750 million (with nine-figure contributions from unions) for the presidential campaign and another $53 million just for the inauguration.
Neil Bluhm, founder of the private equity firm Walton Street Capital and gatherer of $160,000 for the Obama campaign, just says no as well, and is joined by another billionaire, Lester Crown, who runs an eponymous investment firm. Crown gave the max personal contribution allowable under the law to Obama.
What took them so long, or did they just notice Obama's true stripes?
Thursday, May 7, 2009
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Unlike Obama, these people have real-world experience and understand that EFCA will transfer the nation's wealth into the coffers of the unions (and as a subsidiary, to the workers, but that's just a nasty side-effect of unionization since the real goal is union aggrandizement, not worker welfare). Plus, they know their billions would quickly be depleted.
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