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Subscribe to RSSDes Moines - As Republican candidates crisscross Iowa seeking last-minute support, the Democratic Party is ignoring the field and focusing on front-runner Mitt Romney.
Today in a Des Moines press conference the DNC turned to a former factory worker who lost his job in the 1990’s to attack what it calls Mitt Romney “job killing record” in the private sector.
Randy Johnson, a former union official at an Indiana paper plant that Bain Capital purchased and then sold after labor discussions broke down in 1995 said of Romney, “I really feel that he didn’t care about the workers.”
Johnson said he’s telling his story now to let voters decide for themselves whether Romney should be president.
Now employed by the United Steelworkers Union in Pittsburgh, Johnson admitted Bain likely acted legally in its dealings with Ampad, but he’s accusing Romney of getting rich at the expense of workers.
“They let Ampad go bankrupt and they made 100 million…tell me there’s nothing wrong with that.”
This is not the first time Johnson’s story has been used as a political weapon against Mitt Romney. In 1994 Democrats used Johnson’s story in television ads attacking Romney during his campaign against then incumbent Sen. Edward Kennedy.
Romney’s 14-year tenure at Bain has been a frequent target of attack from the Obama re-election team and his Republican rivals.
Romney claims during his time at the firm Bain created a net total of 100,000 jobs, but he’s also acknowledged not all of the investments have worked out.
“We invested in over 100 different businesses,” he said last month on MSNBC’s “Morning Joe,” “and in those businesses, many were successful, added lots and lots of jobs. Some were not successful. That is the nature of free enterprise.”
On the campaign trail Romney argues that private sector experience is what’s needed to turn around the economy.
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Well, someone has to make a profit. Better it be to Willard than some lowly American schmuck. (Also, by shipping jobs overseas, it helps the global community)
At least it shows that if "Willard" can make it, anyone can. Better than our current Prez. touting that "if you work really hard, someday you can be average, too". (Barack Obama, Osawatomie, Kansas, Dec. 6, 2011)
That's the sorry state of mind that libs promote from the dumbing-down of America and making EVERYONE poor.
how is Obama making the rich poor..rationalone
It sure is funny how it happened to GM and Chrysler but not Ford. What's so different about Ford? Why didn't they require the government to bail them out? I wonder if it has something to do with good business practices? The liberals will blame them for doing things right while applauding GM and Chrysler for relying on the government for bail out money. Strange world we live in these days. Liberals think those that are successful are bad, and those that aren't successful, heros. Sheeesh!
1%ers need to be punished... flog them... send them to the dungeons, flay them.
no we dont think corporations should run the governmnet..but you do..how do you say it sheeesh
Elvis, you need to learn to read.
@elvis - how is Obama making the rich poor?
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Why do libs want to tax the rich back to a poorer class? That's the whole of progressive's concept of redistribution of wealth. I didn't say he was making them poor, but they promote ideas that would make everyone poor.
no i want them back the way it was..no tax breaks ..you know when war broke out...thats why we are broke ..but your smart
How about we try using this thing called the internet to do some research about a subject prior to injecting one's own speculation. At the end is a link to an article from December 2008, which explains why Ford did not need a bail out while GM and Chrysler did. Please also note that Ford requested $9 billion as part of the bailout, but the Senate rejected it. Ford also received a $10 billion line of credit just prior to the liquidity problem that occurred in September 2008. The liquidity problem caused many businesses to have a difficult time getting credit.
http://money.cnn.com/2008/12/18/news/companies/ford_outlook/index.htm
Yeah, that's why we are broke, LOL, not because Obama and Co. has a spending problem... Bwahaha. You're funny.
who ask for that socialist money..the ones who caused this rescission ..yes I'm funny huh
Typically "make it" refers to someone from humble beginnings that becomes successful. Mitt Romney is hardly from humble beginnings. Since you don't seem to understand the stock that Mitt comes from, I have included a link to the Wikipedia page for his father George Romney. Mitt was 7 years old when his father was CEO of American Motors Corporation. Hardly sounds like humble. Mitt was 16 when his father was Governor of Michigan.
http://en.wikipedia.org/wiki/George_W._Romney
Greg...thanks for "keeping them honest" and happy new year to all
You seem to be the comedian. Your name should really be IrrationalOne. His comment on tax policy is closer to the reason we are broke then your comment on spending. Obviously you have no understanding of the economic downturn in 2008 and how that negatively affected tax revenue. The deficit did not become as large as it did due to increased spending, but due to decreased tax revenue.
http://www.usgovernmentspending.com/federal_deficit_chart.html
Please note that the deficit increased by 470% when comparing FY2008 ($248 billion) and FY2009 ($1,413 billion). So why did Bush's deficit suddenly balloon in the last year? Some of it was the bank and auto bailouts, but most of it was due to less tax revenue. The federal government's fiscal year currently begins on October 1 and ends on September 30 of the next calendar year. The fiscal year corresponds to the calendar year in which it ends; thus, FY2009 would begin on October 1, 2008 and end September 30, 2009.
With over 75% of the budget consisting of Social Security, Medicare and Defense Spending; it is irrational to think that Obama's non-discretionary spending over 3 years has got us to where we are today. (It has actually been less then 3 years as Obama was under Bush's last budget until September 30, 2009. Additionally, Obama has included the Iraq and Afghanistan Wars in his budget while the Bush administration did not. Creative bookkeeping if I ever saw a case. The Bush team basically cooked the books.
Unfortunately the US has too many people like you and ignorance of the population will be it's own downfall.
@Greg - You seem to have no understanding that raising tax rates do not always equate to higher revenue. The problem with Obama and Co. (all you progressives and libs) is they have no concept that when your revenue goes down, so should your spending. Instead, they had the brilliant idea of borrowing $800 Billion more, in the name of a "stimulus" package for him to sign on the first day of office. You don't call that "discretionary"? LOL
Get your facts straight, Obama's SPENDING has increased by over $1 Trillion/year over Bush. Even if the wars cost $100B/yr in "creative bookkeeping", that still $900B/yr MORE than Bush.
http://www.usgovernmentspending.com/spending_chart_2000_2015USr_13s1li011lcn_F0t
Don't even try to compare Bush for me anyway, I though he was a very weak president and didn't like him.
Where did I say anything about raising tax rates? I am not even going to bother reading the rest of your post as it is clear that you are one of those people that chooses to put words into others mouth's that was never said instead of arguing the merits of the subject. Enjoy arguing with yourself as I'm sure that is a common theme of your life.
Greg in New York - You are absolutely correct. It is truly unfortunate that there are so many ignorant and gullible people among the voting population in the U.S. Those are the people who make uninformed statements of fact which are absolutely wrong. Those are the people who listen to ignorant demagogues and commentators like Rush Limbaugh, Sean Hannity and Bill O'Reilly. Those are the people who subscribe to FOX news and read the National Enquirer. Those are the people who call others idiots and morons because they express a reasonable enlightened opinion. Those are the people who claim to be patriots and real Americans, when their true ideology is to suppress any ideas which don't conform to their narrow biased right wing point of view.
In the past such people called for Barabas, when they were given the opportunity to save the Lord from the cross. They exist in every society, but it seems there are more of them in U.S. than anywhere else.
@Marv Leit - Barabas??? You really had to go there? That's part of the problem with our political system now. Religion and politics should not mix. Unfortunately our country has already gone way down that crooked path.
Doing what's right for the people of this nation should not be influenced by any religion. Equality of all humans should be the primary goal. Laws tainted by any religious beliefs should be re-examined or nulified.
I guess my facts win (of course they are indisputable). All you can do is resort to ad hominem attacks against the messenger instead of engaging the issues. Still laughing...
Are you still talking? Do you somehow think that because you make the last statement that makes your argument valid and therefore true? I ended this conversation because it is clearly a waste of time. Call it an ad hominem if you want to, but you are a waste of time. You cannot refute that you put word's into my mouth that were never said. I was attempting to be clear in my previous post that further conversation with you was not desired. You are incapable of arguing a topic without creating fictitious things that were never said in an attempt to prove your point. Maybe by being blatantly obvious in this post it will become clearer.
RationalOne:
Hmmm...funny, but I read the transcript from this very speech and lo and behold, I couldnt find one single reference to this quote you attribute to Obama.
Here's the link to the transcript:
http://www.whitehouse.gov/the-press-office/2011/12/06/remarks-president-economy-osawatomie-kansas
Let us know where you find this quote by President Obama.
Let's just say we just leave the stink of this one to hang in the air a bit as a gentle reminder to you that you are obviously full of @!$%#.
You mean by firing Johnson, Romney kept a business alive and working and prospering in the U.S. instead of allowing it to fold up and shipping all the jobs overseas
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So firing all the workers, outsoucing their jobs overseas so your equity firm can make a profit should be our operation model?
Putting profit over people has been the republican/tea bag party way of doing things for as long as I remember.
@Mickey - Here's the actual quote, " We tell people -- we tell our kids -- that in this country, even if you’re born with nothing, work hard and you can get into the middle class." Whoo hoo! You too, can be average! But only if you work hard.
@Greg - "I ended this conversation..." Then what are you doing speaking out the side of your head? End it then, quit bein' a goofball.
The DNC and a "former union official" say Romney is bad.... this is news? Can we please get an update on what Taliban members have to say about infidels too?
In business, if the company isn't making a profit, is no more. I got laid off 2 years ago. That was just the second round at that company. They laid-off several more times after I was gone. I went by their office last week and was suprised to see no skeleton crew at the office. If they didn't lay off to become profitable, the rest who still have jobs would have no jobs. Just so you know, one of the Principals voted for Obama, and the other for McCain, and they learned how to do business and bought the business from a couple of Democrats.
Are you almost done with your inane comments? You clearly cannot think for yourself. Nothing more then another wing nut in the mold of the Becks, Limbaughs and Palins of America parroting everything you hear on talk radio.
RationalOne,
So now you're changing your post...got it...
While you are entitled to your own opinions, you are most certainly not entitled to your own facts...but you just keep reaching for those stars...
Republicans only "need" people as long as they make quick profits for them. But to tell you the absolute truth, that IS what business is today. Too many view people as a commodity... as an expendable resource on the way to making quick profits. And too many take short term views only, knowing they will move on inside of 18 months. And too many define "ethical" as everything that is technically legal.
To the extent we can "revalue" our people as the true undeniable resources they are, start looking at the long term again, and get back to real business ethics, our country, economy, and people will become strong again. Wow... that was a load, huh?
DB Akron
... you cannot cut your way to prosperity. In a down market, however, it is all some companies can to to be here yet one more day... but it IS called a "death spiral". And with most of those companies, the people laying off are sick about it. And they know that they would not be doing it that way if the market was better...
That is totally different than Romney finding poorly run companies on the ropes knowing that all he has to do is slash/cut people to temporarily improve the bottom line for a quick sell and profit... TOTALLY different. In my mind it takes someone without a heart... but that's just me.
Of course a factory worker said that, no surprise there, especially if the factory work was unionized and brain-washed by the union bosses.
The factory worker usually does not see the financials; and they don't have a clue how stable or unstable a company is., so their opinion doesn't hold a lot of weight.
so lets go back to Ford ..pay huh..you know the founder of ford cars great huh..oh that's yalls ideas my bad
As opposed to the Wall Street gurus that led us to our current mess? And I assume the factory worker at least has SOME knowledge of economics...we (the 99% anyway) all work for a paycheck!
so corporation are smart creating a recession to get what they want our benefits ..Right right
Or he said the truth.
I find it absolutely amazing that there are working class people out there who bemoan workers making a decent wage and blame their wages on the downfall of our manufacturing base. While they applaud the greed of the corporate execs and venture capitalists. The execs want billions in bonuses instead of millions so they support communist governments and slave/child labor. And yet the working class blames the worker. The execs have schooled you well. Simply amazing.
Indy,
boy ain't that the truth.
I still wonder though, how much is enough for these guys? How much money do they need to get by?
How many houses, cars, planes and crap do they need ?
At some point, in any company, profits DO make a difference. If you don't have any profits, then you can't pay the employees!
So, of course profits come before people. Duh.
Paul, look at the other side. By paying fair wages, the execs cannot make multi-million dollar bonuses. That's where it stands - strictly greed on the executive side. By using slave labor, bonuses can be bigger. Stop blaming the worker and start putting the blame where it belongs - on executive greed. I suppose you don't have a problem with our executives supporting communist governments and slave & child labor.
what do you expect from a millionaire wantabe President
I expected a lot more from the millionaire wannabe president sitting in that seat now.
like a corporation takeover..and buy buy to benefits
that's why we don't need corporation president...they will think they are the only ones who live in the world..and forget about the rest of Americans..oh my bad that's there mojo..now ...there was once good republicans ..but not anymore
I know right. We don't need a president who represents wall street. Considering Obama has the most campaign donations from wall street don't you think we should fire him because he represents them? I mean he keeps wanting to bail out all these companies that pay no taxes and put that debt on the middle class. What gives man?
Ron Paul 2012.
do you know why wall street ran to him..because they new he was going to win...because the republicans f-up right right
They already forgot about 99% of Americans.
sure is a man of the middle class after accepting all those donations from the big banks and having $35,800 dollar a plate dinners. sure is a man of the middle class allowing those easy money no interest loans from the federal reserve further putting the middle class in debt.
i could keep going, how you defend obama is unbelievable
and your tea thinking makes me laugh
brendan-4
I know right. We don't need a president who represents wall street. Considering Obama has the most campaign donations from wall street don't you think we should fire him because he represents them?
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How do you explain him trying to regulate Wall St?
Exactly Jimm. President Obama receives millions in donations from Wall St and yet has tightened regulations so we don't have a repeat of 2008. He is trying to get a person put in charge of the agency to oversee the regulations and yet has been stopped by the GOP/TP at every turn. Seems as if President Obama is working for our nation and not just one faction of it.
A CEO's LEGAL obligation is to the shareholders not the employees.
If you're counting on someone else to provide for you, you will be disappointed. You cant expect that from your employer, your government or even your neighbor.
After a 35 year career I was laid off and my job went to India. I dont blame anyone. I went out and got another job. That's life.
yeah rich guy ..thats how us poor folk talk huh
That's the problem. The companies wouldn't make any profit without their employees but the CEO's aren't obligated to do anything for them.
He did not get it buying broken companies, moving the jobs overseas and keeping local what he wanted. Willard makes rats and buzzards look like good citizens. His basic motto is "hurrah for me and screw you" Thats not what we need as a president,
like i said you can be rich nothing wrong with that,,
A CEO's LEGAL obligation is to the shareholders not the employees
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That is 100% correct. But the president is not a CEO. And the government's goal is not to make a profit for shareholders.
Satanic...
Except for give them a paycheck! Ya know...an honest day's pay for an honest day's work! Problem is that in most union facilities, it's most-likely that the company is getting the short end of the stick, paying the union member 8 hrs of pay and typically getting about 5 1/2 hrs of productive work out of him/her.
Elvis,
Why does anyone owe you anything? I dont get that.
Lead your life depending on someone else to care for you and you'll be disappointed.
You think Democrats care about you? Well, on election day. Democrat, Republican, CEO or janitor, none of them are taking on the responsibility for your life.
Blame others if it makes you feel good. But you'll never get anywhere ever.
Thats a fact.
lets see yes they do..its y'all with no benefits ..oh and by the way I work for those benefits..so are you paying for them or me rich guy
Elvis, you work for them while you are under their employment. No company owes you anything. You get paid for your labor and if you are lucky the company provides you some benefits. They owe you NOTHING. You have the right to leave them at will. They have the right to dismiss you at will. You are never married to them. Even if you think you are doing more than your fair share, they still owe you nothing. They don't owe you a job, or a position. You are expendable... get used to it, it's the way of the world.
like i said who works for those benefits..me..the government protects me from yes you
The government doesn't protect you from losing your job. Companies have the right to release anyone and how many they want. While you work, you earn benefits if provided. Many companies don't offer benefits. It's your choice to work for them or not. If you are a member of a union, you are still not guaranteed work. There are NO guarantees elvis.
no dumb dumb my benefits retirement
Brianb-999431, That's the way it worked at the turn of the 20th century. Your ten year old child worked 80 hours a week to help support his or her family under extremely dangerous and life-threatening conditions. Many children died for pennies a day.
Child labor laws and unions changed all of that. Those changes brought prosperity like we had never seen before. The average American could work for a living wage to support his family without sacrificing the lives of his children.
Would you return us to those good old days with your nonsense? You are either a fool or a monster. May God forgive you. I never will.
How did Romney's Bain Capital own a company and end up letting it go bankrupt and still made a Million dollars?
This is his expert experience?
its out there..look it up no secret..always
They way they do it is they leverage the newly acquired company to the hilt by taking out loans, debt and drawing down lines of credit. Then the acquirer (ie. Bain Capital) pays itself a special dividend of several hundred million dollars to recoup its initial investment almost immediately. They then focus on cost cutting, layoffs etc. and hope their rosy economic projections prove true. If the projections don't work out, the cash flow of the company will not support the massive debt burden and it will go bankrupt. Layoffs almost always happen in order to "streamline" the operations and "make it more efficient". If the company manages to make money, Bain then puts it up for sale to another private buyer or takes it public.
Either way, bankruptcy or sale, Bain almost always recoups its money early by forcing the company to take on debt which is then paid out to the parent.
alwaysanother,
The comany brought by Bain in 1992 was Ampad, a paper company. It is cited in the beginning of this thread.
As Borked USA has stated in his post: Romney made money by buying this company ,embarking on a "rolll up stragedy" using company A. to fund buying other companies , taking huge managemnt fees from company A, B, etc. Eventually comapny A is drowning under debt. solution: lay off workers, close plants go into bankrupcy.
But Bain gets the management fee of millions throughout this whole process. Workers, stock holders, even the city where the plant is located get left nothing.This is Romney's business plan
Read the article for yourself:
http://www.massresistance.org/romney/ampad_062607/index.html
There is a photo somewhere that shows Romney and his partners with money stuffed in their pockets and they're all standing around grinning for the photographer. Not very presidential.
did you people know here in Texas..the younger people who are going out for the first time are not ask about retirement..the only thing they are told is put your money in the 401 plan..yeah they never get it
Odd that the multi-million dollar man, net worth undisclosed but at least $300 million, would chastise our president for being "out of touch" with the lives of regular citizens. Mitt Romney has never met an ordinary American he didn't loathe -- or want to fire. Romney';s vast personal fortune was built on the backs of hard-working Americans that he laid off to pad his own pocketbook. Mitt Romney recoils from the touch of every regular voter on the campaign trail. He can't stand the interaction with the daily lives of the folks that make this country so great. http://www.sunstateactivist.org
I wonder...what if Amerika "laid off" its citizens like corporations did to their workforce? If "the real world" worked in this fashion, all our workers would be snapped up by other countries. You can bet Canada, Brazil and a lot of other up and comers would poach our best and brightest while the politicians squabble in DC. As a country, we used to make most of the worlds products, and unions didn't put that much a dent in production and profit. Ditto for immigrants.
We went off the reality rails when we started outsourcing this country...we've about outsourced all the blue-collar folks, and we're now working on the white-collar ones. And more money is siphoned offshore so that it isn't reinvested here. Now, our infrastructure is crumbling, and our kids are falling behind compared to those of other industrialized countries. But hey, just drink your bubbly...next year, the bills will be coming due.
"Never compromise. Not even in the face of Armageddon." Rorschach, Watchmen
The only ones who have a world to live in now are just the rich..its getting bad
what is the unemployment rate...how can i name every job that went over seas..heck y'all cant even read one health bill
so Bush was a good President never stopping anything..just like Enron they tested what he would do about the situation..the corporations then seen a green light ..and keep going huh tea trash
alwaysanother, and you would imprison such a monster where? Not in my back yard! All of his terrorist friends would infiltrate the entire neighborhood. Do you really think that all of this was not considered beforehand? What extremes would Al Queda visit even to recover his dead body? Maybe we should have captured him and kept him in your basement.
Such vermin as Bin Laden draws flies. Lots of flies. Only a fool would cut the head off such a snake and foolishly keep the head as a trophy. You knew that, didn't you? Yet, you saw it as an opportunity to take a cheap shot at the man that did what your own hero could not.
so tell me..if i work all my life for you ceo's...I should never expect..anything in return even when i ...retire..you should get all is that right..that's tell me how you rich really think of your employees
Nothing new...don't tell me you are surprised..
no ..it has just started..when corporations became people
I can tell you are one of those rich guys elvis.......you can't fool me......
do rich people talk like me..and if i were rich...i would take care of the old poor..feed them and cloth them
Nice elvis , allot of people seem to need a little help....all of us should do what we can to help others....
YES I DON'T HATE YOU..because we think differently..never think that
don't do either..but i don't want y'all unsafe 401 ..money just for you
elvis is the kind of person that spends everything he makes and expects someone to take care of him when he gets old.
keep relying on the government LOL
oh i cant wait for yalls help...corporations are going to help us..like there 401 plan huh benda
its not the corporations responsibility to help you, its up to you to help yourself. shocking concept i know.
its not the governments responsibility to help you either, governments responsibility is to protect freedoms and defend this country.
*Gasp* what are you going to do now elvis?
yes our freedoms..we working people need protection from yes you read your own statement you retard
Obama bankrupted America and became a millionaire.
RETARD
Doesn't seem quite fair , does it.....
he is rich and don't mind paying his fair share of taxes ..nothing wrong being rich ..
where in the heck you get that crap from..don't say Cheerios ..they only have O in them
proamerica-1148973
Obama bankrupted America and became a millionaire.
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Really? Seems like we were bankrupted back in 2008. And yes, he's a millionaire, mostly from selling his book.
you can be rich and still care for the poor and the working class look at the Kennedy's...look in the bible..is there any more good republicans out there..seems they are all gone and sleeping in the grave
It is possible to be rich and care about the poor---but you cannot be both and be a contemporary republican. In the past there were some rich republicans who cared about about the poor but they found out it was more profitable to ignore the poor.
yes
What about the rich Democrats payne? You always seem to forget about them.
no ...tax breaks need to go...and what does that mean...do you need mad magazine to understand
I was driving the other day..and seen an old women begging for money on the street corner..yes she could be a fraud..but as i look at her I thought why is this happing in America..there is no warm place to lay your head down at night...
I would have helped her Elvis. Why didn't you bother?
I'm not rich just believe in helping those who need it.
I do
Romney is hiding his tax returns because he pays very little in taxes on the residuals he gets from Bain for liquidating compnaies and outsourcing workers . He spent one term as gov of Mass where he was highly unpopular and couldn't have won reelection. He was 47th in job creation. He is of the 1%, by the 1% and for the 1% . He is the biggest flip flop artist in history who beleives in nothing but himself. He hsa swung far right in these primaries and has no answers to the real problems of working people. He is preaching a return to the policies that have ruined us. More deregulation and trickle down.
sorry rich folk that union thug stuff is not going to work next time around..you tea rich trash are outa here
What did I miss elvis , went out for a bit , had a bear in my trash...again...
trash can punch..well some people drink it.
have y'all notice the right wing party are going on liberal blogs and tV ..and talking like the angle of light..not going to work..the devil loves to ACT like they love us
I trust the government social security.. might not be the greatest thing...over your 401 plan..you think i believe you corporations are here to help us working folk...just read your comments nuf said good night
Good luck for you then. Its natural to be scared of what you do not understand, and from your comments in these threads its obvious you have no idea how economics or markets work.
Its up to you to save for your retirement and should not be the responsibility of anyone but yourself.
Pretty selfish thinking someone else should pay for you when you get older, don't you think?
that money that was taken out of my check is mine not your mine..from taxes to savings..the government has taken out money i work for not you you don't pay for my retirement..I do..its you corporations who see a bank account and want it yes wall street right right
Elvis, if that money is yours, then I assume you supported Republican efforts to privatize a very small percentage of "your money" so that you could pass down to your family, if desired, and could exercise some control over how it was invested! Of course, your fellow Dumbocrats went nuts spreading dis-info about that idea...
Elvis Payne is just another name for the village idiot Can't or won't back up anything he says.
no there is only one of me go back and read
Of course he does. He's Christian. Christianity is about capitalism, not about being wishy washy and taking care of the poor or worrying about human emotions. That kind of stuff is socialistic and evil. Jesus wouldn't have fed the poor; he would have taken the time to b uild up the most profitable corporation he could.
they are the scribes and Pharisees of our time..the mark of the beast party
Money changers = Wall Street = Romney
=pelosi=reid=obame=ect.
All Christians. Thanks for that!
How many workers are helped when no profit bankrupts and closes the company?
People want government to protect the middle class. They should buy an American car instead of a foreign one. When you go to France it's not full of Japanese and German cars. They're driving Renaults and Puegeots - not because they're the best in the world, but because the French understand that they need to keep the jobs and profits in their own country.
Amen Brother.
I personally would like to view his tax returns to see how he made his money.
This guy reminds me more of Gordon Gecco every day.
OMG a union rep dissing a repub!
what is going on?