Obama Taps New SBA Head
Entrepreneur and venture capitalist Karen Mills has been chosen by President-elect Obama to head the Small Business Administration.
Mills is currently president of MMP Group in Brunswick, Maine. She, with two other partners, founded Solera Capital, a New York-based venture capital firm. Her appointment will be subject to confirmation by the Senate.
At a press conference introducing Mills and several other members of his economic team, Obama emphasized that to get the economy back on track, it is essential to strengthen the nation’s Main Street backbone, its small businesses.
House Small Business Committee Chairwoman Nydia M. Velázquez, D-N.Y., was quick to praise the nomination.
“President-elect Obama’s decision to name an SBA administrator so early in the transition is a good sign for small businesses,” she said. “This appointment shows that his economic team recognizes the key role that small firms play in job creation and the need to take quick steps to revitalize the agency’s role in spurring growth.”
Velázquez emphasized that Mills has her work cut out for her. “Through budgets cuts and mismanagement during the last eight years, the SBA has become nothing more than a shell of the agency it used to be,” she said, adding that it is essential for the new SBA leader to reverse this course.
Photo by CNN.
cassy on December 22nd, 2008 4:28 pm
I hope this will stop the humor of those people who says,that small business will be killed,coz they dont like Obama and saying Obama is anti small business. i hope after putting Karen Mills as head of SBA this people stop saying that Obama has no heart on the small business,coz the person he put as SBA head is also a capitalist and entrepreneur and i think he has a great economic team in his term of office.
Jaclyn on December 23rd, 2008 4:22 pm
It sounds to me like Obama is doing a great job so far by choosing mills to head up the small business administration…wise choice so far for that position. now maybe everyone will stop slashing Obama’s name in every move that he make’s…cause after all he is the one who will decide our fate for the future and with a little time…i’m confident everyone will start to notice that he isn’t so bad after all.
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