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Thursday, June 14, 2012

Mitt Romney continues to court CEOs

Romney is expected to use the meeting to explain more details on his economic plan. | AP Photo

By: Anna Palmer
June 12, 2012 07:14 PM EDT
Mitt Romney is expected to get a warm welcome Wednesday when he holds a closed-door meeting in Washington with more than 100 of the nation’s top CEOs.
After all, of the 211 Business Roundtable members, at least 50 of the member companies’ executives have contributed nearly $83,000 toward his 2012 presidential bid, according to data compiled from the Center for Responsive Politics.
But the meeting is key to Romney’s effort to shore up support among the rest of the CEOs and maintain momentum for the campaign.
The execs will be looking for Romney to address some of the red meat issues of the presidential campaign like high unemployment, a struggling economy and a path forward on taxes, said Business Roundtable CEO John Engler.
Boeing CEO Jim McNerney is expected to ask the first question during Wednesday’s Q&A session with Romney. McNerney has not personally contributed to Obama or Romney.
“They all have the opportunity to be quite specific,” Engler said of the CEOs question and answer period. “They are very concerned that the United States has almost no permanent tax code. That frustrates their ability to plan long-term.”
Other areas that could come up include the regulatory environment related to energy policy and financial services.
“I think that CEOs as a group aren’t very different than the American public,” Engler said. “This election is about the future. We know where we have been and sort of know where we are today. What’s going to change? What will change Mr. President if you have a second term in office and what will change Gov. Romney if you become president and have a first term?”
President Barack Obama held court in front of a similar-sized Business Roundtable CEO gathering this March discussing his record and vision for the future, talking about key ingredients like manufacturing, energy, innovation and ensuring workers have the best skills and education to grow the economy.
But Obama’s outreach hasn’t translated to love from Business Roundtable CEOs, of whom only six have donated to the president’s reelection bid, to a tune of $26,000.
Romney is expected to use the meeting to explain more details on his economic and jobs plan and also get feedback from the CEOs, according to someone familiar with the Romney campaign’s thinking.
“It’s important for the governor in the sense that it gives him the opportunity to hear straight from the CEOs,” the source said. “It’s an opportunity to have a discussion with these guys about the problems they are facing and the global concerns they are facing.
“I think he wants to focus on certainty in the economic climate and certainly in the regulatory climate,” the person added.
U.S. Travel Association executive vice president Geoff Freeman said that some industries like his have been happy with Obama’s policies and that Romney will need to go the extra mile to get their support. Freeman has not contributed to either presidential candidate.
“There are a variety of business issues where the current administration has gotten sideways with industry,” Freeman said, but not on travel. “When it comes to travel policies, we’re very pleased with the aggressive approach the Obama administration has taken.”
The key for Romney will be to show how he could bring his business perspective to the travel industry, according to Freeman.
Some expected in the crowd like Dominion Resources CEO Thomas Farrell have contributed to Romney’s effort beyond just campaign donations. Farrell, who serves as Romney’s energy industry chairman, has been listed on several Romney fundraiser invitations.
Barclays’s Robert Diamond Jr.; Blackstone Group’s Stephen Schwarzman; Caterpillar’s Douglas Oberhelman; and Chevron Corp.’s John Watson, are among the execs who contributed $2,500 each in personal checks to Romney.
The support isn’t surprising to many in the business community.
“He looks like them because he is like them. It wouldn’t be surprising they are more comfortable with him,” said Republican lobbyist Ken Kies. “He talks their language. He’s been successful and most CEOs of those companies feel like they have been successful too. There’s just a natural compatibility between Romney and that group.”
Tarini Parti contributed to this article.
CORRECTION: George Freeman was originally reported as head of the U.S. Travel Association, he is the executive vice president.

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