Obama Billionaire Backers Nix EFCA–Surprised?

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?


NOTE: The details in this blog are provided for informational purposes only. All answers are general in nature and do not constitute legal advice. If legal advice or other expert assistance is required, the services of a competent professional should be sought. The author specifically disclaims any and all liability arising directly or indirectly from the reliance on or use of this blog.
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