A Warning that Obama Won’t Heed

Democrats love the regulatory state. Now that the Obama administration knows it can’t get anything through Congress, it is trying to “enact” as much of its left-wing agenda as possible through administrative action. To be sure, President Obama has talked a bit about cutting back on over-regulation. But no one believes that he has anything but cosmetic changes in mind: he is determined to extend federal regulation of the economy, not contract it.
Investors Business Daily notes a warning by George Buckley, the CEO of 3M:

“I judge people by their feet, not their mouth,” 3M CEO George Buckley told the Financial Times of London on Monday. “We know what his instincts are — they are Robin Hood-esque. He is anti-business.
“Politicians forget that business has choice,” Buckley went on. “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.”

One of today’s under-reported stories is Canada’s steady movement to the right. My impression is that most businessmen now regard Canada as a better place to do business than the United States. And compared to Mexico, it has the advantage that people don’t get kidnapped and murdered.
I’m pretty sure Buckley isn’t bluffing. One of the “Ms” in 3M used to stand for Minnesota. No more. The company still has its headquarters here, but it has moved much of its operations to the more profitable environment of Texas. Companies that are engaged in global competition can’t afford to humor politicians who are ignorant of economics. Like Barack Obama.


Books to read from Power Line