(BLOOMBERG) — President Barack Obama’s re-election will be better for businesses than a country led by Mitt Romney, Jim Sinegal, co-founder of Costco Wholesale Corp. , said during a speech at the Democratic National Convention.

Companies need “a president who takes the long view and makes the tough decisions,” said Sinegal, who remained on the board of the largest U.S. warehouse-club chain after retiring as its chief executive officer in January. “That’s why I am here tonight supporting President Obama, a president making an economy built to last.”

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