McCain, Obama Seek Boardroom Approval

Senators John McCain and Barack Obama are aggressively wooing business leaders to back their presidential campaigns.
McCain, Obama Seek Boardroom Approval
SUPPORT FOR McCAIN: Former Ebay CEO Meg Whitman (R) looks on as presumptive Republican presidential candidate U.S. Sen. John McCain (L) (R-AZ) shakes hands at Finelite Inc. manufacturing facility May, 2008 in Union City, California. (Justin Sullivan/Getty Images)
8/18/2008
Updated:
8/18/2008
<a href="https://www.theepochtimes.com/assets/uploads/2015/07/McCainWhitman_81206092_medium.jpg"><img src="https://www.theepochtimes.com/assets/uploads/2015/07/McCainWhitman_81206092_medium.jpg" alt="SUPPORT FOR McCAIN: Former Ebay CEO Meg Whitman (R) looks on as presumptive Republican presidential candidate U.S. Sen. John McCain (L) (R-AZ) shakes hands at Finelite Inc. manufacturing facility May, 2008 in Union City, California. (Justin Sullivan/Getty Images)" title="SUPPORT FOR McCAIN: Former Ebay CEO Meg Whitman (R) looks on as presumptive Republican presidential candidate U.S. Sen. John McCain (L) (R-AZ) shakes hands at Finelite Inc. manufacturing facility May, 2008 in Union City, California. (Justin Sullivan/Getty Images)" width="320" class="size-medium wp-image-72324"/></a>
SUPPORT FOR McCAIN: Former Ebay CEO Meg Whitman (R) looks on as presumptive Republican presidential candidate U.S. Sen. John McCain (L) (R-AZ) shakes hands at Finelite Inc. manufacturing facility May, 2008 in Union City, California. (Justin Sullivan/Getty Images)
As the 2008 election approaches, swing voters aren’t the only people the U.S. presidential candidates are vying after. Senators John McCain and Barack Obama—the presumptive candidates for this fall’s election—are aggressively wooing business leaders to back their campaigns.

In addition to the deep pockets that accompany the backing of corporate heavyweights, McCain and Obama also seek to profit from their extensive network, along with the business and social clout that they bring. With the U.S. possibly in an economic downturn, the candidates must also convince skeptical voters that they are well-versed and well-equipped enough to help restore the U.S. economy.

Let’s take a close look at some of the major corporate supporters of McCain and Obama.

For McCain: Meghan Whitman


The former eBay Inc. CEO is also the co-chairwoman of McCain’s presidential campaign. Whitman is a legend in Silicon Valley, and led a small startup named eBay to become of the most successful Internet companies ever. Whitman stepped down from her post in March to help run McCain’s campaign and has accompanied him at almost every major campaign stop.

McCain, who himself admitted that he had much more to learn when it comes to business and economy, can certainly benefit from having Whitman in his corner.

Whitman has been instrumental in relaying McCain’s message of tax relief, free trade, and beneficial provisions for small businesses.

McCain is “going to focus first on growing the economy,” Whitman stated in an interview with ABC News in July. “Seventy percent of new jobs created every year in the U.S. are by small businesses. So he wants to create a tax policy and healthcare and energy (policies) to help small businesses grow.”

For McCain: Carly Fiorina


Carly Fiorina, another former Silicon Valley business leader, is a strong McCain supporter and also a possible candidate for Vice President. Fiorina topped the “Most Powerful Women in Business” list by Fortune Magazine in 1998. She led Hewlett-Packard from 1999 to 2005 and orchestrated the controversial merger between HP and Compaq Computer.

Fiorina was ousted by HP’s board in 2005, and subsequently signed on to be a business analyst for Fox Business Channel.

With Fiorina and Whitman, McCain has the backing of two of the toughest women in business.

In an interview with TechCrunch.com earlier this year, Fiorina stated her intention of helping McCain communicate and relay his message to the business community.

“You’ll see John and others—myself included—coming to Silicon Valley,” she said. “You’ll see him reaching out to the small business community, you’ll see him reaching out to Hispanics, to Asian Americans, going in perhaps unexpected places, going into the rustbelt to talk about the importance of innovation and the importance of job creation. I think it is in our interests as a party to get John McCain in front of as many people as possible.”

For Obama: Penny Pritzker


Chicago businesswoman Penny Pritzker is Obama’s campaign finance manager. Pritzker, who runs Classic Residence by Hyatt, came from one of the wealthiest families in the region. Pritzker has extensive connections in the banking and real estate industry, and is listed as one of the richest Americans by Forbes Magazine.

Some of Pritzker’s critics named her connection with Superior Bank, a savings and loans bank in Illinois that collapsed in 2001, as a weak point in Obama’s campaign. Pritzker helped run Superior, where her family has a 50 percent stake, just after the bank ramped up its investments in subprime mortgages. The bank later collapsed due to the exposure to subprime debt.

According to Obama’s campaign, Pritzker was not cited for any wrongdoing in Superior’s demise.

Her involvement in Obama’s campaign is notable as the country, like Superior, is currently feeling the same sting from subprime mortgage loans.
<a href="https://www.theepochtimes.com/assets/uploads/2015/07/WarrenBuffet_78389034_medium.jpg"><img src="https://www.theepochtimes.com/assets/uploads/2015/07/WarrenBuffet_78389034_medium-328x450.jpg" alt="BILLIONAIRE SUPPORT: Billionaire investor Warren Buffett at a Hillary Clinton fund-raising event December 11, 2007 in San Francisco, California. Buffett, who did not endorse Clinton, has given his support to Democratic candidate Barack Obama. (Justin Sullivan/Getty Images)" title="BILLIONAIRE SUPPORT: Billionaire investor Warren Buffett at a Hillary Clinton fund-raising event December 11, 2007 in San Francisco, California. Buffett, who did not endorse Clinton, has given his support to Democratic candidate Barack Obama. (Justin Sullivan/Getty Images)" width="320" class="size-medium wp-image-72325"/></a>
BILLIONAIRE SUPPORT: Billionaire investor Warren Buffett at a Hillary Clinton fund-raising event December 11, 2007 in San Francisco, California. Buffett, who did not endorse Clinton, has given his support to Democratic candidate Barack Obama. (Justin Sullivan/Getty Images)


For Obama: Warren Buffett


Among Obama’s inner circle advisers is 78-year-old Warren Buffett. The billionaire investor has one of the keenest reads on the economy, judging by the success of his holdings company, Berkshire Hathaway. Berkshire has over 50 subsidiary companies, with total assets of more than $260 billion.

Buffett, a prominent Nebraskan, is a key Obama supporter in a state which last supported a Democratic presidential candidate in 1964, when Lyndon B. Johnson became president. And that’s a long time ago, even for Buffett.

Obama is “going to bring outstanding ideas to a new administration,” Buffett said during a fundraiser in Omaha last year, according to the International Herald Tribune. Buffett has since hosted a score of Obama fundraisers, praising the presidential candidate for his vision and leadership. If Obama wins the White House bid, it will be marked as another successful prediction by the “Oracle of Omaha.”