AGCO Chief Says Obama Has ‘No Conception’ of Economy, Welt Says

Dec. 4 (Bloomberg) -- U.S. President Barack Obama has “no feeling for and no conception of the economy,” AGCO Corp. Chief Executive Officer Martin Richenhagen said in an interview, Welt am Sonntag reported.

The U.S. real-estate market will need 10 to 15 years to get back to functioning normally, the newspaper cited the tractor maker’s CEO as saying, in a news release previewing tomorrow’s edition.

To contact the reporter on this story: Richard Weiss in Frankfurt at rweiss5@bloomberg.net.

To contact the editors responsible for this story: Benedikt Kammel at bkammel@bloomberg.net.