Costco co-founder supports Obama at Democratic Convention



Posted on September 6, 2012 at 7:54 AM

Updated Thursday, Sep 6 at 8:16 AM

If the head of a company supported a candidate you didn't like, what would you do?

Republicans had their business executives last week praising Mitt Romney. Democrats countered with their own Wednesday night.

Two prominent businessmen, Issaquah-based Costco co-founder Jim Sinegal and CarMax co-founder Austin Ligon, also took the stage in Charlotte and sought to refute Republican criticism that Obama is anti-business.

Sinegal said he was supporting President Barack Obama because he's "making an economy built to last."

"Business needs a president who has covered businesses' backs. A president who understands what the private sector needs to succeed. A president who takes the long view and makes the tough decisions," Sinegal said.

Sinegal said Costco has created 116,000 American jobs and expected to add 7,000 more in the next year. He also claims the company pays employees good wages, provides excellent benefits and promotes from within.

Sinegal also called out executives who want less government involvement and who are supporting Romney.

“In Tampa last week, we heard all about job creators. But at our company, we recognize job creation requires time and investment and commitment to the long-term. It requires companies that plant and grow, not executives who reap and run. That’s how we do our part to build an economy that lasts,” Sinegal said.

Sinegal hosted a July fundraiser for Obama at his waterfront Seattle home. Nearly 200 people attended the event, which brought in $1.75 million for the president's campaign.

Information from The Associated press was included in this report.

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