No risk of protectionism in the Obama Administration, apparently. The President Elect is happily providing an estimated $50 million of marketing support for…Canadian company Research in Motion (RIMM).
And thank goodness for that.
In today’s global economy, a lurch toward protectionism would be a disaster. If an American company can’t build a smartphone that Obama wants more than the Blackberry, then the heck with “buying American” (which doesn’t mean anything anymore anyway).
In fact, it’s a credit to the technology industry that Valley stars aren’t bemoaning this “Benedict Arnold” move by the future chief executive. Can you imagine if the product Obama was telling his staff that they’d have to pry from his cold, dead hands was a Toyota or BMW?
That said, this is one hell of a product endorsement. So Apple (AAPL), Palm (PALM), and Google (GOOG) should be shipping some serious swag to the Oval Office to try to win over the world’s most influential spokesperson.