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Huntsman Money Made in China Tests Obama Envoy’s 2012 Hopes
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Candidate
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| Contributor | Jason |
| Last Edited | Jason Jun 21, 2011 05:42pm |
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| Category | General |
| News Date | Wednesday, June 15, 2011 11:00:00 PM UTC0:0 |
| Description | An early 1970s photo in a Huntsman Corp. (HUN) annual report shows a smiling young Jon Huntsman Jr. holding a dozen eggs in polystyrene packaging, an innovation that helped make a fortune for the family business.
The chemical company and Huntsman name would later help the family scion win Utah’s governorship, make him a multimillionaire and position him for White House appointments, including as President Barack Obama’s ambassador to China. The company also is fodder for opponents as Huntsman prepares to formally announce his Republican presidential bid next week.
Huntsman Corp.’s revenue in China surged 57 percent from 2009 to 2010 during his ambassadorship, almost two decades after its entrance there, data compiled by Bloomberg shows. Its expansion in the world’s second-largest economy offers a target for rivals when U.S. unemployment is shaping the 2012 presidential race.
“China has become a bigger and bigger issue in recent elections, especially exporting jobs to China,” said John Feehery, a Republican strategist in Washington who isn’t working with any of the presidential campaigns. “If I were an opposition researcher, I would have a field day with this.” |
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