This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Burying the Obama 'Anti-Business' Myth

WASHINGTON D.C. ( TheStreet) -- It's official. We can finally stop calling President Obama the "anti-business" president.

Yet it seems we are only allowed to do it by first reminding everyone that Obama was "anti-business" before he was not "anti-business" -- and that if Obama is no longer "anti-business," the transformation can only be measured in the length of a lunch with the CEOs of the biggest corporations in America.

The "turning point," of course, for the "anti-business" President was when he chewed the fat with capitalist bigwigs on Wednesday, including the CEOs of Cisco Systems (CSCO - Get Report), Google (GOOG - Get Report), American Express (AXP - Get Report), Honeywell (HON - Get Report) and Boeing (BA - Get Report). White House frenemy and General Electric (GE - Get Report) CEO Jeffrey Immelt was seen breaking bread with the President, too.

Even the head of the U.S. Chamber of Commerce, who probably would risk losing his job by saying anything nice about a Democrat in the White House, was ready to share his lunchbox with Obama. Sort of.

Bruce Josten, executive vice president for government affairs for the Chamber of Commerce, told Reuters after the lunch that "inviting a relatively limited group of favored CEOs to the White House every so often did not equal genuine engagement with business."

Still, the major media didn't miss the opportunity to stage Obama's "pro-business" meeting with the CEO elite as an attempt by the President to finally slough off that annoying "anti-business" stamp he wears on his forehead.

The AP described the relationship between Obama and the business world as "testy" and said that the lunch was a "reset" for Obama as he seeks to extend an olive branch to corporate America.

Reuters referred to the "strained relations" and opined that the President was seeking to turn a "new page."

The Wall Street Journal noted the "rocky relationship" between Obama and the business world.

And with Obama "wooing" business leaders, the New York Times described the lunch as a White House "charm offensive."
1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AXP $51.12 -2.20%
BA $108.43 -6.80%
CSCO $24.70 9.70%
GOOG $681.92 -0.32%
GM $26.89 -3.00%


Chart of I:DJI
DOW 15,660.18 -254.56 -1.60%
S&P 500 1,829.08 -22.78 -1.23%
NASDAQ 4,266.8370 -16.7550 -0.39%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs