It’s Obama Time
CEOs Ascribe Victory to Tanking Economy, Expect Change in America
By Jane Han
Staff Reporter
Barack Obama shook up America Tuesday evening by becoming the first African-American U.S. president, but foreign business executives here ― Americans or not ― weren't at all surprised that voters put the economy before any racial schism.
``It's definitely the economy that pushed up Obama,'' said James Tyrrell, managing director of Jones Lang LaSalle Korea. ``We know America is a melting pot, but the election result further reflects the progression of their society. It's not about race.''
Born of a Kenyan father and Kansan mother, Obama's win wouldn't have happened in the '60s, '70s, '80s or the '90s, the Australian native said, adding however, that things have now changed after the public suffered from the mistakes made during the Bush administration.
Michael Conforme, CEO of GCT, a global human resources development firm, said with two wars and a global crisis going on, ``America is in need of a PR overhaul.''
``The election had nothing to do with the color of skin,'' said Conforme, a registered U.S. voter. ``It was the matter of choosing who would be the best person for the country, based on the current situations.''
The U.S. is reeling from a financial panic that has thrown the country into the worst economic hardship since the Great Depression, but Obama used the crisis to his favor by delivering confidence and change to the public, in contrast to McCain's shaky image.
Conforme said, ``We finally have someone young and vibrant in the White House. Someone that takes you back to the days when John F. Kennedy was elected.''
Jeff Oatman, a Canadian executive of Colliers International, a global real estate brokerage, agreed, stressing, ``What's the big deal that he's black? The critical point is how the economy will shape up after the election.''
Tami Overby, president of the American Chamber of Commerce in Korea, said, ``This is a very historic day for the American people and signifies the change people were looking for at this time.''
She added that the business community hopes President-elect Obama's strong leadership and willingness to reach out to the international community will help resolve the economic difficulties companies are now facing.
Another executive of a U.S.-based firm, who asked not to be named, said the 47-year-old Illinois senator's ``historic victory'' would help breathe in life to the sagging economic conditions.
``We probably won't see immediate improvements, but policy changes will eventually trickle down and affect companies doing business overseas,'' he said, adding that the remaining challenge for Obama is how much he can follow through with his pledges.
Democrats are also hoping to pick up nine seats in Senate elections, so they can secure a 60-seat filibuster-proof majority, preventing Republicans from blocking bills.