Obama’s policies bad for business growth

Several weeks ago, President Obama implied that people who start and build a business didn't do it; big government made it possible. That statement demonizes entrepreneurs and shows his ignorance of the role they play in the success of America.

Let me give you a personal example. In 1967, I co-founded a company with $68,000 from relatives and friends to develop a revolutionary new product. By 1984, our company had grown to $85 million in annual sales with 23 factories, and we wanted to retire. We interviewed several buyers, but couldn't bear to sell out our dedicated employees.

We found an equity partner firm, similar to Bain Capitol, to fund a leveraged buyout. These firms help companies by providing funds and highly skilled expertise in foreign and domestic business that would otherwise be unaffordable for them. The buyout paid our original stockholders 225 times their original investment.

Today, the company is still employee-owned and maintains the culture and value instilled by the co-founders. Worldwide sales are more than $1 billion with 3,500 employees.

Astute management, dedicated employees and expert guidance by equity partners are the keys to the company's success.

Obama's policies demonize and thwart small business growth, the very fabric of America's freedom and might. If re-elected, it will take decades, if ever, to repair the damage.

Marty Sixt

North Liberty