Obama spends more time playing golf and on holiday (976 hours) than on the economy (474 hours) since his Jan 2009 elections: Government Accountability Institute Report

Obama spends more time playing golf than on the economy: Report

LONDON — In an analysis of the presidential diary and newspaper reports, the Government Accountability Institute found that United States President Barack Obama has spent 976 hours since his January 2009 election on holiday and playing golf.

4 MIN 22 SEC AGO

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LONDON — In an analysis of the presidential diary and newspaper reports, the Government Accountability Institute found that United States President Barack Obama has spent 976 hours since his January 2009 election on holiday and playing golf. In contrast, he has only spent 474.4 hours in economic meetings. “As a government watchdog group, we just tabulate the numbers and let others decide how to interpret them,” said Mr Peter Schweizer, president of GAI, which compiled the report. “People understand that presidents have the most stressful job in the world and need a break from time to time. There will be some who will be encouraged by the numbers and some who will wish the president spent more time in economic meetings.” The American news website Breitbart claimed that the survey may have underestimated Mr Obama’s time devoted to recreation. GAI calculated a round of golf as taking four hours, but Breitbart pointed out that Mr Obama said last year that playing golf is “the only time that for six hours, I’m outside”. “Like most people, presidents still do work while on vacation,” said Mr Schweizer. “So we really went out of our way to fairly and accurately reflect how the president spends his time.” Breitbart also said that the analysts had been generous when calculating how much time Mr Obama spent in economic meetings. Anything on the White House calendar even remotely connected to economics, such as “Obama meets with Cabinet Secretaries” or “Obama has lunch with four CEOs” counted as an economic meeting. The president said in 2011 that the economy was his main priority, reported The Daily Telegraph. “You should know that keeping the economy growing and making sure jobs are available is the first thing I think about when I wake up every morning,” he told an audience of UPS workers. “It’s the last thing I think about when I go to bed each night.” But the GAI report showed that the amount of time spent on the economy has fallen significantly in the years since his 2009 election. In 2009, Mr Obama spent 187.2 hours in economic meetings. A year later that number dropped to 127.8 hours. In 2011 the total fell to 73 hours. By the end of 2012, the president had spent 100 fewer hours on finance than in his first year in office, with a total of 80.4 hours devoted to the economy. AGENCIES

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Kee Koon Boon (“KB”) is the co-founder and director of HERO Investment Management which provides specialized fund management and investment advisory services to the ARCHEA Asia HERO Innovators Fund (www.heroinnovator.com), the only Asian SMID-cap tech-focused fund in the industry. KB is an internationally featured investor rooted in the principles of value investing for over a decade as a fund manager and analyst in the Asian capital markets who started his career at a boutique hedge fund in Singapore where he was with the firm since 2002 and was also part of the core investment committee in significantly outperforming the index in the 10-year-plus-old flagship Asian fund. He was also the portfolio manager for Asia-Pacific equities at Korea’s largest mutual fund company. Prior to setting up the H.E.R.O. Innovators Fund, KB was the Chief Investment Officer & CEO of a Singapore Registered Fund Management Company (RFMC) where he is responsible for listed Asian equity investments. KB had taught accounting at the Singapore Management University (SMU) as a faculty member and also pioneered the 15-week course on Accounting Fraud in Asia as an official module at SMU. KB remains grateful and honored to be invited by Singapore’s financial regulator Monetary Authority of Singapore (MAS) to present to their top management team about implementing a world’s first fact-based forward-looking fraud detection framework to bring about benefits for the capital markets in Singapore and for the public and investment community. KB also served the community in sharing his insights in writing articles about value investing and corporate governance in the media that include Business Times, Straits Times, Jakarta Post, Manual of Ideas, Investopedia, TedXWallStreet. He had also presented in top investment, banking and finance conferences in America, Italy, Sydney, Cape Town, HK, China. He has trained CEOs, entrepreneurs, CFOs, management executives in business strategy & business model innovation in Singapore, HK and China.

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