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CarMax Co-Founder: Obama Is Right, I Didn't Build It

CarMax Co-Founder: Obama Is Right, I Didn't Build It

CarMax co-founder and former CEO Austin Ligon, who will be a featured speaker at the Democratic National Convention, says he and his company’s 17,000 employees aren’t responsible for his billion dollar company, the government is:

As President Obama has said, I didn’t do it alone. I succeeded becausewe had a committed team of CarMax associates working round the clock tobuild our business. We found ready capital from healthy and flexiblecapital markets that allowed us to grow. We benefited from an effectivenational transportation infrastructure that let us move products fromone market to another, and we had cooperation and assistance fromfederal, state, and local governments in providing clear rules of theroad that let us plan and grow our business.

By contrast, says Mr. Ligon, Mitt Romney, who headed up one of America’s most successful equity firms, knows nothing about the economy and job creation.  “[Romney] has said nothing that gives a businessman like me confidence that he knows how to move the economy forward.”

In fact, explains Mr. Ligon, “Romney economics look like fantasy economics to me.  President Obama has shown he has the vision to support businesses andallow them to grow. He has shown he understands the need to invest tomake this happen.  Mitt Romney hasn’t.”

Mr. Ligon is slated to speak Tuesday at the DNC Convention in Charlotte, North Carolina.


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