Costco cofounder supports, hosts President Obama

July 31, 2012

By Staff

Jim Sinegal

Costco cofounder and former CEO Jim Sinegal endorsed President Barack Obama for re-election July 23 and defended the president’s economic policies, less than 24 hours before Sinegal hosted Obama at a campaign fundraiser.

Sinegal and cofounder Jeffrey Brotman launched Costco in 1983. Sinegal stepped down as CEO in January and handed the reins to Craig Jelinek.

Costco relocated corporate headquarters to Issaquah in the mid-1990s. The company is the largest employer in the city, encompassing about 2,700 employees.

Sinegal’s support for Obama comes as presumptive Republican presidential nominee Mitt Romney lambasted the president’s small business policies.

“You might be seeing some ads or hearing some folks say that President Obama doesn’t support small business owners,” Sinegal wrote in a blog post on the Obama campaign website and in a mass email to supporters. “But he understands that small businesses grow and prosper because of individual initiative — because entrepreneurs like you and me do the hard work it takes, and that we can’t do it alone.”

Obama attended a $35,800-per-person campaign fundraiser and, later, a $5,000-per-plate dinner at Sinegal’s Hunts Point home.

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Comments

8 Responses to “Costco cofounder supports, hosts President Obama”

  1. Michael Shea on July 31st, 2012 8:26 pm

    I will never spend another penny in your store!

  2. mary on July 31st, 2012 8:34 pm

    Too bad.used to like that store……bad times have kept me away.Now ill shop elsewhere when Obama gone and the country comes back.

  3. Gabe on August 1st, 2012 12:00 pm

    1) He’s not the CEO anymore
    2) He was the lowest paid CEO by far of any Fortune 100 companies
    3) Why do you care what he does with his personal money? He’s obviously earned it, growing Costco from a start-up to a Fortune 25 company!

    If a president were to have a conversation with any business leader in America, I think Jim is the one to do it with!

  4. Doug on August 4th, 2012 1:03 pm

    Another one-percenter backing the status quo. How are those five stores in Detroit doing Jim?

  5. bryan on August 5th, 2012 8:38 pm

    its always a learning experience to see how successful business people get flak for being successful by those on the right when they don’t do as their corporate uber masters dictate.

  6. Kate on September 3rd, 2012 10:33 am

    A lot of businesses that claim they hate government and want it smaller somehow have gotten loans or contracts from the government! Kind of funny. A new Costco popped up near me. I had heard they paid good fair wages and tread employees well. You cannot say that for some stores like Walmart! I love Costco and this news is not surprising based on the information I hear about them. I will continue to shop there with pride. Anyone who won’t shop there will just lose out. Go to Sams Club!

  7. Richard on September 5th, 2012 2:17 pm

    I’ll bet if Jim Sinegal were in the 3rd or 4th year of building his business he would not vote for an Obama type. Now that he is rich he becomes soft in the head. I will cancel my Costco membership tomorrow and join nearby Sam’s club. Childish, perhaps, but people don’t understand the misery that will follow and Obama reelection.

  8. john on November 30th, 2012 9:09 pm

    Jim has gotten rich and lost touch with reality. I have rescinded my Costco membership.

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