Obama’s Bad Businessmen
A slew of left-wing business moguls are on the skids thanks to poor investment decisions, questionable judgment, and accusations of bribery and cronyism.
Warren Buffett has lent his star power and his surname to President Barack Obama’s push for higher taxes, but his firm and its shareholders have not fared well during the Obama administration. Berkshire Hathaway has underperformed the Standard & Poor’s 500 Index by an average of eight percent over the past three years.
Buffett is not the only famous presidential supporter to fall from business grace.
Television titan Oprah Winfrey appears to have lost the golden touch that helped make her the richest self-made women in America and propelled Barack Obama from up-and-coming Illinois senator to the nation’s first black president.
Bloomberg News reported earlier this month that the Oprah Winfrey Network (OWN) may have lost as much as $330 million since its launch due to poor ratings and lackluster demand.
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