Costco cofounder supports, hosts President Obama
July 31, 2012
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.