Phil Knight, co-founder and current chairman of Nike, told The Daily Caller that policies implemented by President Barack Obama are hurting the economy and raising significant concerns at his company.
Knight said the financial regulation bill known as Dodd-Frank, which was signed into law by President Obama in 2010, “puts handicaps” on businesses.
“We’re literally in November, [and] we’re realizing the metals, the criminal metals impact of that, so we’re still sorting those 2,500 pages out,” Knight told The Daily Caller, after a panel discussion at the Brookings Institution in Washington.
“Yeah, I think there’s a lot of stuff that puts handicaps in the ways of businesses moving ahead,” he added.
According to the Associated Press, Dodd-Frank “requires U.S. companies buying from a region rich in minerals to ensure their supply does not come from areas controlled by armed groups or corrupt soldiers.”
TheDC also asked Knight how Nike is dealing with the effects of the federal health care law.
‘We don’t even know what’s in that, but there’s a concern, absolutely. We’ll be watching it closely.”
Knight has donated to Democrats and Republicans in the past. He reportedly contributed $2,500 to former Massachusetts Gov. Mitt Romney’s campaign in 2012.
According to Forbes, Knight is the 19th richest person in America.