Feisty are you just another "Angry Black Woman"? No Romney's work at Bain won't cost him with the voting public with common sense. The companies that Bain got involved with were already wrecked (some by ridiculous Union benifits). America needs someone who can get us back on track.
While you would think that the majority of Americans would see Mr. Romney's work at Bain as a negative, unfortunately the majority of those who view his actions negatively will not go to the polls a vote. For this reason it won't have the effect that it possibly could.
Also, by the time the Super PAC's finish putting their spin on this you'd think Mitt was the greatest job creator of all time. Too bad he has to LIE about the Presidents job creation record every time he gets out into public. Mitt says he created over 100,000 jobs during his tenure at Bain. Seems to me that since we have had 20+ months of positive economic growth the number of jobs added to the rolls under President Obama exceeds 100,000. Then again, math has never been the GOP's strong suit.
This election will be good vs. evil. We have the president, a man who from his first day in office, made it clear that he was interested in helping those who needed it, the sick, the uninsured and the old and disadvantaged.
He is running against a man who would fire his mother if it made him money. Romney has destroyed the well being of thousands of Americans. There is no hiding from the facts. Romney's abhorrent business practices will make the choice easy for millions of voters.
Why is Willard terrified to release his tax returns?
Why won't Obama release his Educational Transcripts? Reveal who paid for his education?
I don't understand your anger toward the affluent and successful. Obviously, you must be wealthy as you have plenty of time to blog day in and day out.....either that or you work for NBC or are on welfare....which is it Feisty?
BTW, your moniker is offensive and should be considered a violation of the Newsvine COH.........
@Feisty, your party can't offer anyone up that is even close to Mitt Romney. Top of his class, served his church for 2.5 years at his own expense, graduated with a double masters degree from Harvard at the same time. Made a personal fortune in business where he also created over 100,000 jobs (modest estimate by the way) successfully turned around and saved the Olympics, only months after 9/11. Successfully governed a liberal state.
Romney is a success in marriage, in business, in family, in public service, in charitable work. He is an exceptional candidate and you know it. That is why the DNC is so scared of him and they should be. He is going to make Obama a one term president.
toxicteapublican, I don't understand why folks like you keep pushing the president to publish his grades. The positions he filled at Harvard, and his stint as a law professor should tell you something. Why don't you push your candidates to publish theirs? That would be a hoot!
1. To be involved in a fatal car crash that killed someone he loved and respected
2. To lose to senator Kennedy in his race for the senate
3. To have his wife diagnosed with MS.
4. To spend 40 million of his own money in his first bid for the President and still lose to John McCain.
Now that we have established that he has seen adversity in his life, the real question is how did he react to that adversity. A successful person is never defined by their lack of challenges but rather by how they react when those challenges arise. I think we can all agree that Romney reacted extremely well.
@Wayne: Romney was a completely average student in highschool. However, graduated class Valedictorian from BYU. He then went on to Harvard where he graduated in the top 5% of his class from both Harvard Law and Harvard Business AT THE SAME TIME. This dual degree program is no longer offered at Harvard because it was deemed too difficult. Obviously not for Romney.
Most Americans are much smarter than the down on their luck poor that Obama appeals to. This country will not survive with Obama's attitude toward success. This country survives because we have successful people who pay the bills and create jobs. If you libs keep biting the hands that feed you what will you do when the hands close and tell you to fend for yourselves?
Bain Capital is just the libs new Enron, Halliburton, Exxon, or any other successful company.
Feisty---did you catch the feature on the Today show this morning about the homes of the GOP primary candidates and what it tells us about them? It was fascinating. They didn't show Romney's California shack--instead his lake home. I wonder if he knows how many homes he has?
The clip showed Romney making blueberry pancakes-----I guess he is one of those who ate the blueberries!
Until the Bain criticism, it was anybody BUT Romney. Bachman...Trump...Perry...Cain...Gingrich...
Now that it's apparent that Romney is ALL that the GOP has...well of course he's the best candidate. Just like Bachman...Trump...Perry...Cain...Gingrich all were at one time.
Nasty-RedNeck,..........I never understood why you call Mitt Romney "Willard," until I watched a segment of Al Sharpton's MSNBC show the other night and then I got it; you do it, because Sharpton does it
That tells me a lot about the content of your character, your politics, and your intelligence (or lack thereof).
Sharpton made horrible accusations against Duchess County D.A. Steven Pagones some twenty odd years ago, that cost Pagones his job, and his reputation within the community. Sharpton acted as Twana Bralwey's mouthpiece, and accused Pagones of raping her.
A grand jury found that, not only had Pagones NOT raped Twana Brawley, but that she had simulated the appearance of an attack herself.
Pagones was awarded $345,000 in compensatory damages, $65,000.00 of which Sharpton was responsible to pay.
To this date he has never paid Steven Pagones a dime.
Now, we have Rev. Al on tv, telling us what our political opinions should be. The man is a mental midget, and a compulsive liar. He is not only responsible for slandering Steven Pagones, but he is also responsible for inciting violence in Crown Heights NY during the riots in 1991. Riots in which Yankel Rosenbaum lost his life.
So, I guess we know where you're coming from, Nasty-RedNeck. The bottom line here, and the answer to the question MSNBC's FIRST READ has posed is; why should anything about Baine cost Romney, when relationships to a federally convicted political racketeer, and an admitted domestic terrorist from the 1970's didn't cost Obama anything in 2008?
Come on Mr. President; TELL US THE WHOLE STORY about your friendships with these two guys. Inquiring minds want to know!
When you put Enron in the category of "successful companies" your opinion on any other matter is seriously in doubt. By that criteria you can probably believe that Bain actually created jobs.
Of course, Halliburton and Exxon really are successful. Halliburton largely because it used Cheney's influence to get rich from an unnecessary war with no-bid contracts and participation in unsafe drilling practices in the Gulf; Exxon largely because it receives huge government subsidies for doing exactly what it always does, drill for oil - and when the oil spills delay payment for damages as long as possible and get out of paying as much as possible.
Here's a little history of just how successful Bain Capital has been;
Romney's private equity firm, Bain Capital, bought companies and often increased short-term earnings so those businesses could then borrow enormous amounts of money. That borrowed money was used to pay Bain dividends. Then those businesses needed to maintain that high level of earnings to pay their debts...
* Bain in 1988 put $5 million down to buy Stage Stores, and in the mid-'90s took it public, collecting $100 million from stock offerings. Stage filed for bankruptcy in 2000.
* Bain in 1992 bought American Pad & Paper (AMPAD), investing $5 million, and collected $100 million from dividends. The business filed for bankruptcy in 2000.
* Bain in 1993 invested $60 million when buying GS Industries, and received $65 million from dividends. GS filed for bankruptcy in 2001.
* Bain in 1997 invested $46 million when buying Details, and made $93 million from stock offerings. The company filed for bankruptcy in 2003.
Romney's Bain invested 22 percent of the money it raised from 1987-95 in these five businesses, making a $578 million profit.
I never understood why you call Mitt Romney "Willard," until I watched a segment of Al Sharpton's MSNBC show the other night and then I got it; you do it, because Sharpton does it
As usual you are WRONG again Stanley!
I call Willard - Willard because it is his FIRST name.
Unlike YOU & others who use the racist dog whistle in calling OUR President Hussein!
Is there a particular reason you find it embarssing?
Rhino: you are ridiculous. 'my harvard educated guy is better than your harvard educated guy' because my Harvard educated guy became a rich venture capitalist? (that b.s. about "100,000' jobs may work with the Limbaugh echo chamber but not outside it...creating wealth is NOT the same as creating jobs and that bit of absurd 'man of the people' nonsense is not going to sell with anyone remotelyl familiar with venture capitalism.)
Willard Mitt Romney (born March 12, 1947) is an American businessman and politician. He was the 70th Governor of Massachusetts from 2003 to 2007 and is a candidate for ……
BTW J. Merle why not change your “handle” from your name to “Report the Rezko, Ayres story” so you don’t have to explain yourself 20 times a day and you can discuss current events?
@Feisty, yes, that was a very little history of Bain Capital. Will you kindly post the outcome of their investment in Staples, Monsanto, Sports Authority, Dominos, Sealy, Steel Dynamics and about 70 more companies. I mean as long as we are posting a companies history don't you think we should post the entire history. Or were you just trying to slant the truth to support your liberal argument?
I do find it interesting that the article mentioned points out that Bain invested 22% of their money in these companies. Why, I wonder does it not mention where the other 78% of their money went. That's kind of an important question don't you think?
Will you kindly post the outcome of their investment in Staples, Monsanto, Sports Authority, Dominos, Sealy, Steel Dynamics and about 70 more companies.
I'll leave it to you do some homework to bolster your conservative slant...
They really like to play up the negative on Mitt and his fellow republican challengers on this site. If a book got written in which one of them treated our troops like trash as obama did in Iraq I'm sure it would get some play here. But since it's Obama it's free pass time as usual.
After the talk, out of earshot from the soldiers and diplomats, he starts to complain. He starts to act very un-Obamalike, according to a U.S. embassy official who helped organize the trip in Baghdad.
He’s asked to go out to take a few more pictures with soldiers and embassy staffers. He’s asked to sign copies of his book. “He didn’t want to take pictures with any more soldiers; he was complaining about it,” a State Department official tells me. “Look, I was excited to meet him. I wanted to like him. Let’s just say the scales fell from my eyes after I did. These are people over here who’ve been fighting the war, or working every day for the war effort, and he didn’t want to take f-----g pictures with them?"
Another moronic post by FR. Since only 5% of the people that go to this site are conservative it looks like a 20% showing that Bain will have no impact indicates a wide margin of victory for Romney in November.
I have done the homework. A ton of it. That is how I knew I could safely call BS on your comment. For easy research though, just read this article. It will give you an idea of how Bain and Romney really operated.
I doubt Bain will cost him the election unless the Free Market Economy is on trial. I predict Bain will backfire on anybody that attacks Romney for for this reason....
Blingrich just needs to shut up and join the Occupy movement... lol
Nor are you, Feisty! A big mouth spewing a lot of words doesn't cut it; there has to be some substance once in awhile. I'm sure in digging up Bains's failures, you had to encounter their many successes as well.......why didn't you list them too?
So how will the venture capitalist put money in the pockets of consumers to spur demand, business does not expand or hire unless there is increased demand for their product and services, will he propose an infrastructure spending bill, and if he does is this now considered a smart infusion of investment capital for the US or is it considered an obscene display of socialism as it was described when Obama proposed it. Companies are sitting on more capital than they ever have, they are suffering because they have no customers, how will Romney bring them customers?
Rhino, can you find me something not written by a conspiracy nut like Kessler? Just look at his body of work and his credibility is about zero. Except for his Laura Bush biography it's largely all conspiracy nonsense. You guys seem to like to find stuff written by people at the NY Times because you think it will lend credibility with those who lean left. The Times has their fair share of nuts on the staff just like Fox, NBC, CBS, Politico, Huffington and the rest of what you like to call "Lame Street Media". This guy is a major zero.
As both papers tend to lean conservative you can hardly throw the bias card. What you can do is admit that both articles contain factual data. I'm not disputing the data your provided, merely stating that your portrayal of Bain Capital is incomplete. Are you making the argument that it is a complete picture? Can you honestly say that in your educated opinion, Bain Capital never created jobs, or turned around businesses? Can you even honestly say that they did not achieve good results most of the time? Would you say that the 4 companies you listed better define the exceptions or the norm at Bain Capital?
I'm so jealous of Mitt and his wealth and his family and his good looks and his power. I'm just so JEALOUS. Oh wait. No I'm not. I just think he's a dick.
They really like to play up the negative on Mitt and his fellow republican challengers on this site. If a book got written in which one of them treated our troops like trash as obama did in Iraq I'm sure
Yea yea whatever. If the president actually acted "cranky" we don't know the circumstances. Besides, no one would EVER dream of offloading a bunch of BS in a book about any president, much less this one.
Michael Hastings' new book, The Operators, jabs at what could be a vulnerable spot for the Obama Administration, the president's relationship with the troops.
Keep in mind though that Hastings works for the ultra conservative Rolling Stone Magazine hahahah
uaw pleeeee "The companies that Bain got involved with were already wrecked"
You have no idea of what your talking about. those companies where viable and had assets.
those assets are/were Bains goals. they bleed those companies of assets and then bankrupt em.
And now we find that they raided pension funds and left the PBGC.gov to cover it. Sweet deal for Bain and their partners.
The Conservative way. Evil!
Also, if you think unions are the great evil as your name and post suggest, well then no one could possibly have enough patience to have an intelligent conversation with you. since all you do is repeat what you hear from conservative media.
LOL, everybody knows what Romney's first name is.....but NOBODY calls him that except YOU on this board, NastyRedNeck; and, the reason you do it is because Al Sharpton does it on TV.
Ha Ha
Oh and I see your RACE-BAITING-RACIST-FOLLOW-UP-REMARK has do with calling everyone who doesn't support Obama "a racist"......yet again.
You need to get a new response mantra.
But then again, you are a RACE-BATING-RACIST, so why change, eh?
Ha Ha :-)
Oh and Dennis in Columbus......I see that the Rezko and Ayers stories agitate you.
GOOD.
I don't mind "explaining myself" at all. It's a damn-site more than Obama has ever done.
It IS a current-event, because Rezko is STILL in jail, Obama is STILL The President of The United States, and the Obama's STILL own that property in Kenwood. Where did the money come from to purchase that estate? Why did they get the house for $185,000 beneath the seller's asking price? Why were the Obama's able to purchase 10' of the Rezko's neighboring property line at such so cheaply? Why did Obama write letters for Rezko's developement company in reference to projects that were outside of his State Senate district in Chicago? Why do he "break bread" with a man who was involved in threatening people's lives, firebombing residential, commercial AND government buildings, and who's OTHER friends MURDERED two security guards and a COP?!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Huh, 77% of the responders think Bain will hurt Romney's chances. That's almost exactly the same percentage of Americans who think the Church of Jesus Christ of Latter Day Saints in a cult, like scientology.
Huh. Isn't that an interesting coincidence?
So, do you think Bain is just a non-discriminatory, non-intolerant way to be against Romney? You know, without having to come out and say "I won't vote for him because he's a Mormon?"
Naaaaah, that's a reach. They think it will hurt him because he's a vulture capitalist and job "cremator" who is worth over 200 million dollars, and has 15 houses.
See, we can agree on a few things. Yes, that is their job. Let me ask you, do you have a 401K or similar retirement plan? When you invest your money in that plan do you hope it grows? If you do then you have the same attitude as Bain Capital. In fact if your retirement funds have grown then there is a good chance you have Bain Capital to thank for it. That is where much of their venture capital comes from. Bain has shown a remarkable return to investors over the years which means there are millions of retirees today who have Bain to thank.
Do you see why looking at the whole picture is important?
You got it Chris it was not the union members that ran off with the cash, they are not building mansions on the beach, and the ones that did not get robbed of their retirement are not the ones depending on medicaid and food-stamps in their old age. Non union employees such as yalmart workers are much more a burden on society, which has to subsidize their health-care even while they are employed.
Sorry but your obsession with these to charters doesn’t bother me one bit – I dealt with that 3 years ago and put it aside.
What I see is someone that has such a huge obsession with one issue that it should be a serious concern for those around you that at any time you will have a mental breakdown, that you could become a danger to yourself or others.
“Why do he "break bread" with a man who was involved in threatening people's lives, firebombing residential, commercial AND government buildings, and who's OTHER friends MURDERED two security guards and a COP?!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!”
What else does Romney have to run on except Bain? He's disavowed all of his actions as governor ("I was never for a mandate, I was never pro-choice, I never called myself a progressive, I never did anything as governor..."). The only other things Romney has done is his life has been a missionary (but please don't ask him about details of what he preached regarding other Christian religions or black people) and a corporate raider (but please ignore all the businesses he shut down).
What again is the reason people are voting for him? The hair and the smile?
So how many jobs did Bain cut in the four examples you provided compared to the number of jobs it saved or created by turning around all the businesses listed above.
You also want to point to a poll on First Read as absolute proof that this will hurt Romney, when the majority of posters on here are left leaning anyway. Hardly a non biased poll. And that goes for Skip Nicols as well!
The reality of it is that Bain has bought companies and had to close some of them down as they could not turn them around. These companies would have been closed down anyway and in bankruptcy and the employees let go any way. You want to criticize Bain for then selling the assets of these companies to profit when they would have failed any way years before. Bain at least made a go of it and gave many of these employees more time. In most other cases, Bain was able to turn companies around and while it may have laid off some employees, by doing so they were able to salvage the company and create jobs in the long run.
The President wants more power to be able to consolidate inefficent departments in the federal goverenment, which will result in as many as 2000 federal jobs being lost. Then, on the very same day release an attack againts Romeny for him shutting down a plant that in South Carolina and laying off 150 employees, while saving the company that now employs over 600. The company survived because Bain eliminated the inefficiencies in that company. Obama wants to do the same with the federal government all you lefties praise him for it and then turn around and attack Romeny for doing the exact same thing.
Lastly, I have asked one of you libbies to provide just one expample of where Bain bought out a company and intentionally raided its pension fund and ran the company into the ground. You can't because any time that a Bain owned company filed for Bankruptcy, the company was already in trouble when Bain took over and was heading to bankruptcy anyway. Give just one example of Bain acquiring a healthy company that then failed due directly to Bain running it into the ground.
Thank you for typing all that up. I really didn't want to, but would have! I love to watch people point at a poll (like this one) from a left-leaning website (like this one), then bash anyone's evidence to the contrary that comes from a right-leaning website. I call that "Hypocrisy".
Eaton - Do some research and see what Bain/Brookside has done for Eaton. Not bankrupt yet, but they are driving it for the ledge. Eaton has laid off over 5000 people in the past couple of years, have hired no one. Employees hate the company. Is outsourcing more jobs to Mexico.
Put down the ideological Kool-Aid and do some real research Mike. In particular, read some employee reviews. Nothing like going directly to the source when you want to see how management treats people and how management hides their layoffs and other efforts to starve a company.
It's sad that Republicans have lost their ability to understand any form of loyalty and values other than to profit. Really sad. In the Republican business model, the company never takes it on the chin for the employes, but the employes are Expected to take it on the chin to prop up one more "investor". It use to be that sometimes ownership did with a little less investment return so they did not have to destroy families. Now, no way, slightest downturn in investment return, let them eat cake.
lray801...This is the 2nd day I've posted this about Bain, and the 2nd day in a row where not a single perosn attacking Romney can provide me with just one example of Bain gutting a healthy company and raiding its pension fund and assets. Its funny when undisputable facts are given, the left simply will either ignore my posts or come out and personally attack me.
There's lots of information, but here is a place to start. You only need to Google "Romney Bain" to find lots of examples of Bain actions, both good and bad.
GS Technologies went bankrupt in 2001, the plant closed, and 750 workers lost their jobs. Bain skipped out on a previous agreement to provide severance pay and health coverage if that happened. The workers saw their pensions slashed by up to $400 a month.
But Bain walked away from the smoking ruins $12 million richer, not including $4.5 million in consulting fees. And it had tapped government, as well. The company had extracted $3 million in tax savings from Kansas City and partook of a federal program putting taxpayer guarantees on loans to troubled steel companies. The federal Pension Benefits Guarantee Corp. bailed out the company's underfunded pension plan to the tune of $44 million.
Bain blamed the company's failure on an economic downturn and cheaper steel imports. The company's former CEO Roger Regelbrugge blamed burdensome debt and new managers from outside the steel industry. "I have no question that the company would have survived under different management," he said.
The moral here is that there was no morality. In normal business, companies do fail, and layoffs sometimes must happen. But after feasting off the company, Bain had the means to keep its word to the workers. That should have been a matter of honor.
I don't think Romney took sadistic pleasure in firing the machinists and pipe fitters. Possibly worse, he never saw them as human beings — but as potential subtraction to his personal bottom line. They never registered with him one way or another.
Nice try down, but you gave me an example from my home state. Bain bought World Wide Grinders when it was struggling and had an outdated plant. They merged it with another steel company, invested in the plant and tried to turn the business around. They failed. I never said Bain was didn't have any failures. However, this does not show that Bain bought the company with the intention to break it up and raided its pension funds as so many claim. The ultimate failure of the company was several factors, some of which were mismanagement but a major contributing factor was the cheap imported steal that flooded the US market and put over 1/2 of the US Steal industry into bankruptcy. This is hardly a case where Bain pursposefully ran a company into the ground in order to profit. And next time, try using an unbiased source other than an op ed.
In 1992, Bain Capital acquired American Pad & Paper, or Ampad, from Mead Corp., embarking on a ''roll-up strategy'' in which a firm buys up similar companies in the same industry in order to expand revenues and cut costs.
Through Ampad, Bain bought several other office supply makers, borrowing heavily each time. By 1999, Ampad's debt reached nearly $400 million, up from $11 million in 1993, according to government filings.
Sales grew, too - for a while. But by the late 1990s, foreign competition and increased buying power by superstores like Bain-funded Staples sliced Ampad's revenues.
The result: Ampad couldn't pay its debts and plunged into bankruptcy. Workers lost jobs and stockholders were left with worthless shares.
Bain Capital, however, made money - and lots of it. The firm put just $5 million into the deal, but realized big returns in short order. In 1995, several months after shuttering a plant in Indiana and firing roughly 200 workers, Bain Capital borrowed more money to have Ampad buy yet another company, and pay Bain and its investors more than $60 million - in addition to fees for arranging the deal.
Bain Capital took millions more out of Ampad by charging it $2 million a year in management fees, plus additional fees for each Ampad acquisition. In 1995 alone, Ampad paid Bain at least $7 million. The next year, when Ampad began selling shares on public stock exchanges, Bain Capital grabbed another $2 million fee for arranging the initial public offering - on top of the $45 million to $50 million Bain reaped by selling some of its shares.
Bain Capital didn't escape Ampad's eventual bankruptcy unscathed. It held about one-third of Ampad's shares, which became worthless. But while as many as 185 workers near Buffalo lost jobs in a 1999 plant closing, Bain Capital and its investors ultimately made more than $100 million on the deal.
And just for your information, you refer to the "steal industry". I think you meant steel industry. The steal industry is Bain Capital.
By the way Don, it wasn't Bain that didn't hold up to its bargain in paying out the pensions in this case and the company was not in good health prior to Bain's purchase...
Armco wanted to sell its Kansas City plant to concentrate on other aspects of its business. Jack Stutz and a few of the other Armco managers were looking for backers to help them buy it. They spoke to GE Capital, which, in turn, contacted Bain Capital because it had earned a sterling reputation for turning companies around.
The risks were obvious. The mill's equipment was out of date and it faced stiff competition from Nucor Corp, which also made grinding balls.
Nevertheless, Bain and its partners decided to buy the mill for $75 million. Bain put up about $8 million to gain majority control of the company, renamed GS Technologies Inc. GE Capital, former Armco executives and Leggett & Platt, a major customer for the mill's wire rods, chipped in the rest of the equity.
As part of the deal, Armco agreed to cover employee pension obligations if the plant closed within five years -- a $120 million liability, according to the Kansas City Business Journal.
Oh now Don, you caught me on a typo. By all means that should invalidate the rest of my post.
As for Ampad, you do realized that Ampad was sold by Mead to Bain in 1992 in order to raise capital and and improve its efficiencies.
The Mead Corporation, a leading maker of paper products and developer of electronic information services, announced yesterday that it would lay off about 1,000 employees, or 5 percent of its work force, over the next two years.
The company, based in Dayton, Ohio, also announced that it would sell the Ampad Corporation, its commercial office products business, to Bain Capital, a Boston-based investment firm. The sale will generate a cash gain of $56 million, Mead said. The company said it was selling Ampad because it had found Ampad's products difficult to integrate into Mead's existing product lines.
And once again, Bain did not go into Ampad and cut the company. It attempted to grow the company and increase profits, which it did until the late 1990's as stated by your own source until increased competition caused it to become unprofitable. Bain could have not bought Ampad and the company would have seen its workforce cut or outright shut down as Mead was struggling. And again, the total number of jobs lost in this case was a few hundred, compared to the thousdands that are still employed as a result of Bain's investment and sucessful turnaround of the companies.
This country survives because we have successful people who pay the bills and create jobs.
The problem is, thanks to the Bush tax cuts, those "successful people" just got richer and didn't create any jobs, instead they kept offshoring jobs, that's why unemployment kept rising in the last years of the Bush administration. Most of those "successful people" didn't invest in risky businesses that might have hired people, instead they invested their extra wealth in the no-risk Treasury bills that financed the Bush deficits. Also due to the Bush tax cuts, those "successful people" weren't helping to pay the Nation's bills, that's why the Bush administration racked up 4.9 trillion dollars in debt instead.
Bain Capital is just the libs new Enron, Halliburton, Exxon, or any other successful company.
Are you being ironic or sarcastic? It's hard to tell. If you're trying to be serious, then you must love bending over for Exxon and saying "more, please, sir" while they gouge your wallet. You must think all the misdeeds and shenanigans of Halliburton were just fine and dandy as long as they made money off of the Government. As for Enron, not only were their criminal exploits legendary, but they FAILED - as in BANKRUPTCY. If you really think of Enron as a "successful company" then you seriously need to take a basic Economics course - and a course on logic. Coming back to reality would help, too.
I am not a Republican, but I do think that criticism of Romney's tenure at Bain is a little too extreme because, I mean, that is what venture capitalists do. But I also think that if Romney has the guts to risk his entire campaign by extolling the virtues of his "job creating" talent, he should be willing to accept the fact that his rivals (and the media) will use it against him. He should also try to show how many jobs that his company actually created, and how much they ended. And I also find it weird how when OWS protesters where protesting a Romney speech in NH, he openly wished that they would be more respectful. Isn't this the guy who keeps questioning Obama's patriotism, his belief in America, his support for Israel, and who calls him a "failed president?" I mean, Obama has messed up quite a bit in his 3 years, but he has made up for it in many ways. The stimulus reversed the loss of jobs and helped turn our economy around. He helped the auto industry recover, rather than letting them file for bankruptcy and shed tens of thousands of jobs. He signed dozens of bills for workers, at least tried to reform healthcare with Obama-care (which is saving money as we speak), and compromised with the GOP on numerous occasions, most poignantly during the summer debt debate. No matter what the GOP threw at him, he was willing to compromise. Personally, I wish he wasn't so apt to compromise, but then again the art of bargaining is an America virtue. Unfortunately, the so-called "Party of America" has repudiated this president time and again, criticizing his mistakes, never giving him credit for certain accomplishments (like killing bin Laden), and all they want is to get him out of office. Not cooperate, not work to improve our economy, but to get him out of office. If that isn't un-American and despicable, then I don't know what is.
Did you see Romney at some S.C. Veterans Hall today with McKook, Bolton & Queen Haley ?
All they esposed was hate & death and the end-of-the-world is coming if you don't vote for Romney ... and sadly, was McKooks' gastly display of what he thinks is funny as humor and the humor of war ... and vile humor at gay marines as if we need to get rid of them now ... at a veterans hall full of old-veterans from all the Armed Forces who laughed along with it ...
When it came to Q & A from the audience ... the first question to Romney was *How did you manage to say all this without a telemprompter ? *
Answer by Romney ~ *Oh we have a hater here* ... followed by his phoney laugh and at you ...
While many Republicans see their ticket to the Whitehouse by having Marco Rubio as the VP candidate the fact is that a larger majority of Hispanic-Americans do not know who he is much less what he stands for.
Rubio is in a lot of trouble in Florida. There are some old drug lord connections and the citizens of Florida will not re-elect him. Don't think that would help Romney. No his VP candidate is going to be Christie which is also a real unfortunate choice as he is not a physically well man.
Dennis Columbus, Ohio, Having lived in both Florida and Arizona the concerns of Cuban Americans are far different then Latinos living in the Southwest. I don't think Marco Rubio would be a help to Gov. Romney.
UAW: apparantly you are completely unaware that Hispanic AMERICAN citizens are the fastest growing number in this country?? Could you be any more ignorant than to assume all Hispanics are illegal aliens?
Come on AP can you be so ignorant to deny that the fastest growing segment of illegals in this country are hispanic? I'm simply saying Hispanics are more likley to support a candidate whose family is living here illegally......
I’m looking forward to the debates between President Obama and Willard. In this case Willard will deliver more gaffes, because we know that Willard can’t take the get in your face pressure and he is not the big thinker. When President Obama gets in his face, Willard will fold and panic with his nervous laugh.
Let’s all remember that Willard torn companies apart and fired employees leaving them jobless, and losing their homes at the expense of making money. He turned his back on those people like the cold calculated person he is. Not to mention the flip flop side of flop.
Romney's proclaimed strength is in question here and that bad news for him. He hardly discuss his days as MA governor, runs away from RomneyCare. Do I ENVY his position, NAA.
GOP is now seen that Morality is an issue and has a lot to do when making money. Free market is seriously at test, primary/general, in this election. "Wars are better fought away from home"
Of course that is absolutely false on the other hand we have Obama that has torn this country apart!
Gosh, so many Republicans are showing signs of short term memory. I myself remember how bad the economy and unemployment were under President Bush and getting worst up to his last days in office.
So actually the truth is, President Obama inherited this incredible brink of depression mess from President Bush and President Obama has done a good job of turning the country around.
I honestly have to say anyone that doesn’t recognize this fact is pretty out of touch with reality.
I honestly have to say anyone that doesn’t recognize this fact is pretty out of touch with reality.
True but when being republican is more of a religion than an exercise in critical thinking and choosing for yourself it is not surprising up to 30% of the country still claims membership in this cult.
Rob - The answer you should be looking for is how to defend free market also known as vulture capitalism. Obama will be re-elected as president and you'll still not have the answer to this immoral practice even Ronald Regan wondered why a taxi cab driver should be paying more in taxes than Romney and the rest top 1%.
Even if Obama did get reelected he won't be able to pass anymore ridiculous laws with a split House and senate. based on that I think alot of first time voters in '08 will either stay home or vote for Romney. Romney does have some extended family south of the border, I'm not sure how that would translate into Hispanic voters in the US. I think we can all agree we need better leadership in the White House. Every President since Washington has had to deal with opposing politicians. Some are just not cut out to be leaders......
Rubio as VP will sweep u the Latino vote. And after this election with Romney will have a republican house and senate to undo the mess obama has wrought.
Then why do you suppose TWICE as many Americans fear Obama will be re-elected than Iran getting a Nuclear bomb?
Rob,
So, it's only 33%. They are Republicans. You can find even a higher percentage that fear a Republican such as Romany being elected. The latest poll I saw last night has favored Obama 48% to Romany 43%.,with the President 5 points ahead.
Polls change and they will continue to change up until the election.
I see the republicans love Latinos as long as they follow the GOP talking points.
Rubio as VP will sweep u the Latino vote.
No it won't. The Repubs may get a larger percentage of the Latino vote and shore up a Cuban American stronghold in Florida, but Rubio alone will not sweep the Latino vote.
Remember just like any other large group Latinos are not a homogeneous, single issue block vote. Surprising as you may find it, for some Latinos the biggest issue is not about immigration.
Just because a candidate speaks Spanish and has a Latin background like Rubio doesn't mean that they would support him. Personally, I would vote for a yellow dog before I voted for him.
Rubio as VP will sweep u the Latino vote. And after this election with Romney will have a republican house and senate to undo the mess obama has wrought."
Wow! Conservatives really do live in an upside down parallel universe!
Because that scenario is an absolute nightmare for the future to those who are not born with a silver spoon. And many Latino's know Rubio is a wolf in sheep's clothing although he does have more appeal than Herman Cain had in the black community. They will look at Romney's policies and realize who they favor. At least those with sufficient intelligence will understand.
"What Obama has wrought"? When you consider most economists forecast an entire decade for the economy to recover in '08 we are actually sitting in decent position today only 3 1/2 years post disaster. The bailouts, the stimulus, the Healthcare Recovery Act all served a part in that. Of course to the intellectually ignorant your statement still makes sense and that's the real problem.
Hmmm... What will cost Romney is this: He has nothing in common with regular folks, because he has been at least a little sheltered by his wealthy lifestyle. When is the last time he volunteered at a local community food bank? Never? Plus, he has the charisma of a rutabaga. It is a very big disappointment, very sad, to see that the Republican Party cannot find better qualified candidates.
By itself, no, the Bain background won't cost him the election. But it does fit into a larger narrative of 1) a rich guy who can't understand the daily concerns of those in a station far below his, and 2) his authenticity problem, both in trying to appear like he does understand those daily concerns and also with all the flip flopping and political weather vane negatives he's already carrying.
Romney is the guy who will say anything to get elected. "You want abortions? I'm for 'em. Oh, this new audience doesn't want abortions? I'm against 'em." And he's shameless about it, which provides a treasure of conflicting statements.
There's also the questionable statements that just may reveal his inner Willard.
"I created 100,000 jobs." No you didn't. You just added up all the jobs in the companies to which Bain provided capital.
"I like firing people." "Wait, I didn't mean that like it sounded... was in the context of firing an insurance company..." Nice try, Willard, but most people don't even like doing that. For most of us, having to replace insurance carriers is a pain in the butt, and may involve an awkward discussion with the agent who sold you the original policy. Most people don't like doing things like that. Only an out-of-touch, richer 'n sin, priviledged pile of horse crap like you likes doing that.
"I created 100,000 jobs." No you didn't. You just added up all the jobs in the companies to which Bain provided capital.
Well, by that argument, the President cannot claim that the stimulous created or saved jobs as all the stimulous did was provide capital to companies as well.
Most of that federal stimulus capital went to state governments to save public employee jobs (cops, firefighters,teachers, etc). The rest primarily went to tax cuts.
And as far as your arguments about Bain being a positive rather than negative for Romney, why do you suppose the Republican community is so freaked out that it is being discussed at all? I would venture that the party doesn't want the whole election centered around questioning the entire set of principles of capitalism and how it has caused the ever widening wealth gap.
Besides Bain his constant flip flopping like a freshly caught fish on the bottom of the boat and his affiliation with the Teapublicans will not be good for him. He's the best the GOP has and that won't be good enough.
We can be assured that Gov. Romney has a monumental task ahead of him. He will be like Sisyphus trying to push the rock up the mountain and not make it to the top.
His work at Bain won't, in and of itself, cause his loss but that, coupled with other things will.
Romney will have to select a running mate. If he chooses someone more toward the center he loses the Tparty and other extremist elements and if he opts for one of them he could alienate the middle.
Frankly, I believe he will come in second to Obama and Ron Paul will suck off enough votes from the Republican ticket to be a major problem for Romney. Paul, running won't be the deciding factor of a loss for Romney but a contributing factor like the flip flopping and the Bain as well as a few other things I am sure will come out soon enough.
We have heard rhetoric from obama before, followed by inaction. Not really sure why he needs comgressional approval, unless it is just out of courtesy. LMAO, obama being courteous seems like an oxymoron when considering all his actions in 2011. Wasn't there also a report on how he wanted to impliment some of reagans policies as well?
Sounds more like he wants to grasp all the straws he can before november. His proposed FY 2013 budget should be interesting to see.
Sorry mr president, but you are the perfect example of how "on the job training" across the board doesn't work for being POTUS.
I think there's a thoughtful way to argue that Romney's Bain experience is not what we want in the Oval Office, but most likely it'll just become the fodder of extreme points of view and be dismissed as such.
Corporations may be people (according to Romney) but people aren't corporations, so a President Romney can't just bankrupt the ones that aren't making a profit.
You'd think we would have learned when we elected someone who had bankrupted every company he had owned and then watched him bankrupt America. What they did in the private sector they will do to the country.
What they did in the private sector they will do to the country....
You mean like turn around struggling companies like Staples, Burger King, Domino's Pizza, AMC Entertainment, Sealy and make them profitable again by eliminating waste and inefficiencies. We can only hope Romney will be able to do that with the Federal Government.
We can only hope Romney will be able to do that with the Federal Government.
You do realize it is congress and not the president who restructures agencies and hires and fires people, right?
Oh and by the way, Mike, which do you consider the greater worry about a presidential candidate; one who refuses to release their university transcripts or one who refuses to release their tax records?
I have no problem with Romney's work at Bain. I am betting that the thousands of people who work at Staples, Sports Authority, and other companies that Bain helped turn around won't either.
Then there are the folks at Eaton, who after 5000 layoffs in the past couple of years while jobs were outsourced to Mexico are not feeling like the folks with the $7.50 an hour jobs at the sporting goods store or selling printer ink did so well. I'm not sure how you think that is a good thing for America. Give the high paying Eaton manufacturing jobs to Mexico so Willard and friends can maximize their "investment" and then claim that by saving some jobs selling printer ink they did the country a favor. Romney's priority is lining his pockets and has nothing to do with wanting to help the American middle class. He helps by offering to save you a $7.50 an hour job.
Ever think of this...if the economy sucks, it's because those who run it - business people - don't know what the heck they're doing. So why in the heck would you want to put one of those people, i.e. Mitt, at the helm of the country?
No, just that business and government are two different things. Being able to run one does not necessarily equate to being able to run the other.
Romney failed as MA governor. Jobs ran like hell from the state. So what makes you think he could be a good president? Because of his "business experience?" Oh yeah. Mitt can just fire everyone, sell off all our assets and head for the hills.
For every "success" (and I use that term loosely) there was at Bain, there were 4 or 5 other companies that were simply overleveraged, bankrupted and destroyed. Our country is his next target.
Between the Bain experience, the "I love pink slips" and the sick dog on top of the car roof, I think this guy is about as cold, unfeeling and out of touch with normal Americans as you can get. God help all of us if he should become our president. Once I would have said he couldn't possibly beat President Obama, but after the re-election of GWB, I realized even the most absurd is possible.
He said he likes the option of "firing his health insurance company" i.e., changing who he buys his insurance from. Don't you?
I've known Mitt personally for over thirty-five years -- we once worked together. He's personally warm and compassionate.
BTW, in a capitalist economy, businesses aren't created for the purpose of creating jobs, jobs come when businesses grow and innovate. Sometimes you have to amputate a limb to save the patient. I don't know ANYBODY who "enjoys" seeing people laid off, and Mitt is one of the people I know.
And President Obama's mother-in-law actually likes him, he's a nice guy and he already has experience as President: I say re-elect Obama and let Romney go back to creating jobs overseas by amputating jobs in America.
First let us all remember that Republicans will defend Romney's record, Democrats will defend Obama's a true voter will look at the facts, Romney is good at destroying jobs, he can not bring the parties together no more than Obama. When an agenda is set to go against and pray that your President fails that should speak volumes. As an Independent I have seen the GOP say no and stall and cause a ruckus even though some of Obama's ideas are from their side of the table. And if Romney were to win don't you think the Democrats will get revenge
I've known Mitt personally for over thirty-five years -- we once worked together. He's personally warm and compassionate.
Which means you're probably one of the wealthiest 1%, quite possibly part of the ultra-wealthy 0.1% that includes Romney. Of course he's friendly to his fellow corporate raiders, they're the only friends he'll ever have.
BTW, it isn't wise to let on in public that you've worked with Mitt, that means either you were with Massachusetts state Government (not popular with Teapublicans) or with Bain (not popular with the working class). Those are the only jobs he's had.
Or, he has a "Buffet Problem," - i.e. paid at a much lower "effective rate" than the highest bracket.
I can't figure out how anybody worth what is rumored to be around $270 million, thinks they can run for the Presidency in the middle of an economic downturn, with high unemployment. If he had actually built a product and grown a start-up company, like Jobs or Gates, I could understand it. But, Romney's wealth would have never been achieved had it not been for the new financial tricks he learned at Harvard Business School, regarding the craze in the eighties over "shareholder value."
Mitt "The Gordon Gekko" of Bain Capital Management. Not even PC these days.
If Mormon Romney become president, does that mean he'll ban all caffenated drinks from the White House and have staff build him his "canned goods/apocolypse" room?
No, becausde they threw out that rule when they purchased Coca-Cola. As long as they make money from it it's ok. Just FYI, this information regarding the rule was directly from a Mormon friend of mine, since I'm sure I will get told off for it.
I like to know as much as possible about the candidate for POTUS. Tax returns, past employment, religious affiliations, etc. Since Mitt is a serious contender, I started looking into his Mormon beliefs. I must say that I am uncomfortable voting for a man to be POTUS, who was a priest in a faith that teaches that anything but white skin is a curse from God.
Lets see mitts birth certificate ! he was born in a foreign country ! is he even an American ? is he part of a cult ? so what is it? where are all those tea-party questions !
Mitt Romney's life is well documented. He was born in Detroit, MI where at the time, his father was an auto industry executive. His father was elected governor when Mitt was 16. Mitt graduated from Brigham Young and then Harvard with a JD/MBA degree. For more info on his time at Harvard:
George Romney was born in Mexico, to which his father had fled to avoid prosecution in the US for polygamy.
I personally don't care about Romney's religion or family history, but Republicans sure had a field day attacking Barack Obama for having an African father.
Last I checked, George Romney was dead. But since you are so interested.
Romney was born to American parents in the Mormon colonies in Mexico; events during the Mexican Revolution forced his family to move back to the United States when he was a child. The family lived in several states and ended up in Salt Lake City, Utah, where they struggled during the Great Depression. Romney worked in a number of jobs, served as a Mormon missionary in England and Scotland, and attended two universities in the U.S. but did not graduate from either. In 1939 he moved to Detroit and joined the American Automobile Manufacturers Association, where he served as the chief spokesperson for the automobile industry during World War II and headed a cooperative arrangement in which companies could share production improvements. He joined Nash-Kelvinator in 1948, and became chairman and CEO of its successor, American Motors Corporation in 1954. There he turned around the struggling firm by focusing all efforts on the smaller Rambler car. Romney mocked the products of the "Big Three" automakers as "gas-guzzling dinosaurs" and became one of the first high-profile, media-savvy business executives. Devoutly religious, Romney presided over the Detroit Stake of The Church of Jesus Christ of Latter-day Saints.
Note the part in bold. George Romney's parents were BOTH Americans - regardless of the place of his birth. As for Obama, I am a republican and it never bothered me that his father was from somewhere else. My own father was a immigrant.
I am a republican and it never bothered me that his father was from somewhere else.
That's touching, because President Obama was forced to release his long form birth certificate after Republicans wouldn't stop questioning his nationality. Your Party sure likes to add new words to our lexicon, first it was "swiftboating" then it was "birther movement."
So the Romneys moved back to the States when it got too violent in Mexico? That's touching too. I wonder if they could have used some help from the Dream Act?
I have personal experience with Bain Capital. I lost a really sweat IT job in 2006 when they purchased a multinational company that I was working for. Here's a direct quote from the time of the purchase. We are not planning to make any changes to the company as it has never failed to make a profit. This was shortly because they closed the Canada offices, followed by the Iowa offices. The explanation was that they wanted to move those functions back to the corporate headquarters in Chicago. When I was laid off the company had reduced its staffing by almost 75%.
RE: Bain. I've worked with Mitt as a colleague at both the Boston Consulting Group and Bain Consulting, before Bain Capital was founded, going back over thirty years. We had breakfast a couple of years ago in Beijing (where I worked at the time) when he came over to see first-hand what was happening in China. I've also worked in the private equity industry.
First, Mitt is a thoughtful, analytical, thoroughly decent man. Private equity is mostly about finding companies in trouble, investing in to take control, fixing them up wherever possible, and eventually selling. The primary objective is to save the company -- dead companies aren't worth much. The second is to make it more valuable; value is a combination of growth and profitability. That means making the companies more competitive so it will grow and more profitable. That, in turn, requires innovation and competitive prices. When this is successful, jobs are created. Sometimes, however, it becomes necessary to amputate a limb to save the patient.
On Jobs: In the United States, people don't generally create companies and invest money with the fundamental objective of creating jobs. They invest to make a return on their investment, jobs are a happy by-product. Jobs are created when companies need more people; they need more people when they grow and innovate. Both require investment. The primary source of investment is corporate earnings -- profit. You want jobs, grow and innovate. You want growth and innovation, invest in the private sector. You want investment in the private sector, set the playing field so investment is attractive, and investment here in the US is more attractive than investment elsewhere.
How to create investment: reduce taxes, reduce regulatory burdens, allow capital to flow to where it can generate the best returns ... which is where there is growth and innovation, which is where jobs are created.
This is capitalism in a free-market economy. Adam Smith described how it works in 1776, the year we declared independence. Countries that have adopted socialist models have generally not been competitive. China started to grow only when it threw off its socialist planned economy model and adopted a capitalist, regulated free market model. (I know, I've lived there through for most of the past 29 years.)
In a capitalist system, there must be capitalists -- SOMEBODY other than the State has got to own the productive assets -- whether it's individuals or your pension fund. Taxing the rich means taxing capital; it means diverting money that was investment in productive enterprise to the government, creating government jobs, which increases the budget and reduces the tax base, a fatal spiral. "Tax breaks for the wealthy" are demonized by the left ... who would have us believe that tax policy is somehow merely subsidizing conspicuous consumption by the super rich; a better understanding is that it is reducing taxes on capital, stimulating investment-- which leads to jobs.
Of all the candidates vying for the presidency, Mitt Romney understands the best how this works. Investment -- in growth and innovation -- creates jobs.
I would expect the socialist-leaning Left to pile on Mitt's Bain experience, but coming from the far right?
This appears to be sound thinking if you are of the world, but if you are spiritual, this is very unsound and very definitely greed becuase you are contolilng the livihoods of workers you are laying off just so you can get rich. In God's realm this is a grave sin.
Wow...you start off by making Bain sound like the "Salvation Army of Investment Banking." Where may I send a check to support all of the good work they are doing?
Then, you come around to the reality. The Republican agenda you outline (lower taxes, deregulation) fails to confront that reality...namely a globalized economy, wherein investment flows to where the promise of returns is greatest, adjusted for risk. I'd suggest that that globalization process basically killed the advantages of "trickle down economics" for the average American worker, as soon as his credit was gone.
Bernanke had it right when he testified before Congress and explained that THE single largest factor leading to the economic breakdown was "Asian savings."
U.S. investment (and jobs) will not return until there is "demand." Demand will not return until past debt has been paid down. Once that debt is paid down, personal savings have to rise, upon which to found solid credit. Once credit is restored then demand will return and with demand comes jobs.
The "Catch 22," of course, is jobs. Jobs won't come back until there is consumer demand; consumer demand won't come back until there are jobs.
That's a tough process...and a long haul...illustrated by the answer to a simple question: If you were an investor, seeking a reasonably safe return, based on the future success of, say, a shopping center, where would you invest...in a shopping center in Detroit or one in Beijing?
The long haul is through U.S. infrastructure improvement, educational reform, and the return of manufacturing jobs, based on our existing export base and new exports. To be competitive in these areas does NOT require enormous tax cuts or deregulation. Why? Because most of our global competition in our current export areas is with other advanced industrial countries, such as Germany, Japan, Korea, et al. These countries generally possess "partially socialized systems," with pensions, universal health care, and comparable effective tax rates, with safety and environmental regulation.
The idea that tax cuts and deregulation are the answers to our economic situation is nothing more than the advocacy of a race to the bottom for what is left of the American middle class and the evolution of a society of rich and poor.
You sound like a sweet man. However your statement "dead companies aren't worth much" is obviously not true, as Bain Capital managed to make a profit even as some of their companies went bankrupt or were closed. This is what one learns when reviewing the history of Bain Capital, for example, how the federal government had to cover the pension fund of KC Steel, even as Bain Capital profited by selling off parts of the company.
"Tax breaks for the wealthy" are demonized by the left ... who would have us believe that tax policy is somehow merely subsidizing conspicuous consumption by the super rich; a better understanding is that it is reducing taxes on capital, stimulating investment-- which leads to jobs.
How long does that take? Because so far 30 years of tax policy that favors the wealthy hasn't done it. Seriously, when will something start to trickle down besides the middle class standard of living? I'm all for trying new things, but can we just admit that 30 years is enough of a trial period to conclude that lowering taxes for the wealthy doesn't create jubs?
"Tax breaks for the wealthy" are demonized by the left ... who would have us believe that tax policy is somehow merely subsidizing conspicuous consumption by the super rich; a better understanding is that it is reducing taxes on capital, stimulating investment-- which leads to jobs.
Except that it is obvious from a decade of Bush tax cuts, that it doesn't "lead to jobs", quite the contrary, unemployment soared to the highest level since the Great Depression. The reason is simple. While the rich did get a lot richer, they didn't invest that extra money in risky job creating businesses, and too often offshored jobs that already existed. Instead, they invested their extra wealth by buying up nice safe Treasury bills, thus financing over 7 trillion dollars of National Debt that the Bush tax cuts (still in effect!) has caused.
In other words, the Bush tax cuts helped the wealthy to literally buy the US for their own profit.
The real solution is simple - increase taxes on the rich sufficient to eliminate the annual deficits. That in turn cuts off the sale of Treasury bonds, forcing the investor class to start investing in job creating businesses, which in turn will reduce unemployment and boost sales to the growing working class. The working class might even make enough to start investing again, which will multiply the beneficial effects.
Oh, but that wouldn't benefit the 1%, which is the only ones the Teapublicans care about.
FACTS: Romney makes a profit and has been successful in business and government.
Government never makes a profit and is $16 Trillion dollars in debt.
Romney has started companies, created jobs, takes "sick companies" and made them healthy and turned them into profit. (HMMMM our Government is sick, spends too much and we need to make it healthy.)Romney makes money for himself and for his investors .... sounds like success to me! Obvioiusly, Romney knows what he is doing. Who would you want taking care of your money, making you money or running your business ... Romney = Profit ... or ... OBAMA/The Government = $16 Trillion in debt ... ? ... DUH!
Obama has never run a company thus never created one job in his life. Prior to becoming President, OBAMA never ran anything substantial in business or government . Yet, the silly, uneducated voted for him. Now, they and our country are paying for it. The only money OBAMA has made was for himself not others. Obama spends money ... Romney makes it. Where has Obama's lack of experience taken the United States? Obama, in three years, has done nothing but spend U.S. Taxpayers money and spent it on the corrupt ... can you say "SOLYNDRA"!!! With OBAMA we are $16 Trillion in debt. In three years Obama has spent and accumulated more debt than "W" Bush did in 8 years.
* OBAMA first three years increased the national debt by almost ... $5 Trillion.
* George W. Bush first three years increased the national debt by a $1.9 Trillion ... 8 years ... $5 Trillion.
OBAMA's Unemployment for three years reached almost 10%.
Bush unemployment average Just over 5%! It is now official ... We miss you George W!
Need I write more? No need to ... but I will!
OBAMA has lost 1.6 million jobs net. OBAMA, the Left, Liberals, Democrats, Media and Hollywood are for these principles ... Perversion (Gay marriage ... remember unless raped, every person who has sex ... chooses who to have sex with ... thus ... "being gay is a choice" ... plain and simple just the facts Ma'am ... no questions asked), the murdering of innocent babies via abortion and taking God out of our government and our country.
Romney is looking mighty good. Now you know why liberals, democrats, Media, Hollywood and Perverts are are afraid of Romney, hating on Romney and trying to prevent Romney from becoming President.
Now let me get this straight, the Liberals, Democrats, Media, Hollywood and Perverts are trying to convince America that Romney, a successful businessman and politician who knows how to make a profit and run things is really evil and that America should not want Romney taking care of our money and making us a profit!
On the other hand ... ROTFL ... the Liberals, Democrats, Media, Hollywood and Perverts are trying to convince America that OBAMA ... ROTFL ... who has put American drastically deeper in debt with a National Debt of $16 Trillion dollars, invests in corrupt bussinesses, lost 1.6 million jobs, unemployment is 8.5% and is for perversion - gay marriage, murdering of innocent babies via abortion and trying to take God out of government is really the good guy ... ROTFL ... but, things are looking better! ROTFL ... DUH! Need I write more.
Not only is Mitt a vulture capitalist (albeit maybe not the worst of the vulture capitalists) but when asked if he thought people were just jealous of him or if they thought capitalism had gotten too greedy and needed to be restrained, Mitt's unbelievably ignorant answer was , "he thought the people were just jealous of him for being rich"... WOW what an arrogant and politically stupid anwser. True he answered honestly that he thinks people are just jealous and that is why they are in an uproar. Only those whose god has become Mammon would think this way. He is like the naked emperor with no clothes who is too blind to see his own nakedness. Real Christians see the spiritual side of what they do for a living and would know we are not jealous of a rich person who made his money stealing off the backs of thousands of workers he layed off in his desire to scam companies so he and his partner could get rich leaving thousand without jobs as well as loss of pension funds that you and I the taxpayer had to pay. He can have all the money he scammed because you cannot spend it in the netherworld anyway. This is why Jesus said it is harder for a rich man to enter heaven than for a camel to get through an eye of a needle. The blind are delusionally blinded by their greed. ALL PE firms are vulture capitalists and it is the greedy unrestrained capitalism that is the beast that needs to be restrained - not necessarily less government per se but getting rid of the scammers whose lobbying has given them free rein to legally steal our jobs, our livihoods, and our retirements. This is the beast. Just because what he did was legal on a worldly level, it is definitly not legal in God's realm.
Then Romney's in trouble!! He has to prove he created jobs in the private sector and this is the only way it can be done! He can not run on his Governor's record, because he only created 3,964 jobs in 4 years!
As a starter...his income tax filings over the last ten years might be helpful...or even the last five.
But, Palin has him on this. HE, ran on being able to create jobs. When his fellow Republican candidates pointed out that he hadn't done a good job of that as Governor, HE turned to his experience at Bain...NOT his attackers.
Palin - and others - are now simply saying: "Put up or shut up."
They (the old line republicans) are in panic and trying to eliminate Romney because his candidacy could spotlight the whole venture capitalist ruse that's been very very good to the 1%. Not to mention that they already assume that he would lose to Obama for a myriad of reason including his faith and the possibility of Ron Paul sucking off conservative votes as a third party candidate.
Who would they put in place that could reasonably challenge Obama? Jeb Bush as a write-in? Think about it.
In the year of the protester, Willard is the perfect candidate for President Obama to run against!
A multiple home owner, disingenuous, party over country, vulture capitalist vs. an intelligent, pragmatic, protector of the middle class & poor!
Why is Willard terrified to release his tax returns?
Obama/Biden 2012 - To move the country forward!
Feisty are you just another "Angry Black Woman"? No Romney's work at Bain won't cost him with the voting public with common sense. The companies that Bain got involved with were already wrecked (some by ridiculous Union benifits). America needs someone who can get us back on track.
Mitten's failure to release his tax filings will be his 'waterloo' (DeMint) if the 'Vulture' capitalist-free market attitude doesn't doom him.
Those two things together do not bode well for Mittens!
I understand your anger - I would be angry too if the best my party could offer up is someone comprable to Willard...
The problem with your argument is the poll above proves YOU wrong by a WIDE margin! lol
Suck it up, sit back and wait for your next 'shot' in 2016! ☺
Willard's got the blueberry pie all over his face!
While you would think that the majority of Americans would see Mr. Romney's work at Bain as a negative, unfortunately the majority of those who view his actions negatively will not go to the polls a vote. For this reason it won't have the effect that it possibly could.
Also, by the time the Super PAC's finish putting their spin on this you'd think Mitt was the greatest job creator of all time. Too bad he has to LIE about the Presidents job creation record every time he gets out into public. Mitt says he created over 100,000 jobs during his tenure at Bain. Seems to me that since we have had 20+ months of positive economic growth the number of jobs added to the rolls under President Obama exceeds 100,000. Then again, math has never been the GOP's strong suit.
This election will be good vs. evil. We have the president, a man who from his first day in office, made it clear that he was interested in helping those who needed it, the sick, the uninsured and the old and disadvantaged.
He is running against a man who would fire his mother if it made him money. Romney has destroyed the well being of thousands of Americans. There is no hiding from the facts. Romney's abhorrent business practices will make the choice easy for millions of voters.
I am still waiting for someone to ask Romney; "Describe a time in our life when you didn't get what you want and how did it change you personally?"
Why won't Obama release his Educational Transcripts? Reveal who paid for his education?
I don't understand your anger toward the affluent and successful. Obviously, you must be wealthy as you have plenty of time to blog day in and day out.....either that or you work for NBC or are on welfare....which is it Feisty?
BTW, your moniker is offensive and should be considered a violation of the Newsvine COH.........
@Feisty, your party can't offer anyone up that is even close to Mitt Romney. Top of his class, served his church for 2.5 years at his own expense, graduated with a double masters degree from Harvard at the same time. Made a personal fortune in business where he also created over 100,000 jobs (modest estimate by the way) successfully turned around and saved the Olympics, only months after 9/11. Successfully governed a liberal state.
Romney is a success in marriage, in business, in family, in public service, in charitable work. He is an exceptional candidate and you know it. That is why the DNC is so scared of him and they should be. He is going to make Obama a one term president.
toxicteapublican, I don't understand why folks like you keep pushing the president to publish his grades. The positions he filled at Harvard, and his stint as a law professor should tell you something. Why don't you push your candidates to publish theirs? That would be a hoot!
@ Mark, I will bite.
I'm guessing Romney did not want:
1. To be involved in a fatal car crash that killed someone he loved and respected
2. To lose to senator Kennedy in his race for the senate
3. To have his wife diagnosed with MS.
4. To spend 40 million of his own money in his first bid for the President and still lose to John McCain.
Now that we have established that he has seen adversity in his life, the real question is how did he react to that adversity. A successful person is never defined by their lack of challenges but rather by how they react when those challenges arise. I think we can all agree that Romney reacted extremely well.
@Wayne: Romney was a completely average student in highschool. However, graduated class Valedictorian from BYU. He then went on to Harvard where he graduated in the top 5% of his class from both Harvard Law and Harvard Business AT THE SAME TIME. This dual degree program is no longer offered at Harvard because it was deemed too difficult. Obviously not for Romney.
Good enough?
Saying that criticism of Romney is an attack on capitalism is like saying criticism of supreme leader Ali Khamenei of Iran is an attack on God.
Most Americans are much smarter than the down on their luck poor that Obama appeals to. This country will not survive with Obama's attitude toward success. This country survives because we have successful people who pay the bills and create jobs. If you libs keep biting the hands that feed you what will you do when the hands close and tell you to fend for yourselves?
Bain Capital is just the libs new Enron, Halliburton, Exxon, or any other successful company.
1/20/2013 - the end of an error
Feisty---did you catch the feature on the Today show this morning about the homes of the GOP primary candidates and what it tells us about them? It was fascinating. They didn't show Romney's California shack--instead his lake home. I wonder if he knows how many homes he has?
The clip showed Romney making blueberry pancakes-----I guess he is one of those who ate the blueberries!
Look at all the republicon bandwagoners now.
Until the Bain criticism, it was anybody BUT Romney. Bachman...Trump...Perry...Cain...Gingrich...
Now that it's apparent that Romney is ALL that the GOP has...well of course he's the best candidate. Just like Bachman...Trump...Perry...Cain...Gingrich all were at one time.
Shouldn't be too much of landslide...for Obama
I missed it SF!
As for the number of homes Willard owns, I'm sure we'll get the exact number right after we see his tax returns?
BTW: I care about what you think... WHY? lol
Pull up your big girl panties & deal with it!
Nasty-RedNeck,..........I never understood why you call Mitt Romney "Willard," until I watched a segment of Al Sharpton's MSNBC show the other night and then I got it; you do it, because Sharpton does it
That tells me a lot about the content of your character, your politics, and your intelligence (or lack thereof).
Sharpton made horrible accusations against Duchess County D.A. Steven Pagones some twenty odd years ago, that cost Pagones his job, and his reputation within the community. Sharpton acted as Twana Bralwey's mouthpiece, and accused Pagones of raping her.
A grand jury found that, not only had Pagones NOT raped Twana Brawley, but that she had simulated the appearance of an attack herself.
Pagones was awarded $345,000 in compensatory damages, $65,000.00 of which Sharpton was responsible to pay.
To this date he has never paid Steven Pagones a dime.
Now, we have Rev. Al on tv, telling us what our political opinions should be. The man is a mental midget, and a compulsive liar. He is not only responsible for slandering Steven Pagones, but he is also responsible for inciting violence in Crown Heights NY during the riots in 1991. Riots in which Yankel Rosenbaum lost his life.
So, I guess we know where you're coming from, Nasty-RedNeck. The bottom line here, and the answer to the question MSNBC's FIRST READ has posed is; why should anything about Baine cost Romney, when relationships to a federally convicted political racketeer, and an admitted domestic terrorist from the 1970's didn't cost Obama anything in 2008?
Come on Mr. President; TELL US THE WHOLE STORY about your friendships with these two guys. Inquiring minds want to know!
JH
When you put Enron in the category of "successful companies" your opinion on any other matter is seriously in doubt. By that criteria you can probably believe that Bain actually created jobs.
Of course, Halliburton and Exxon really are successful. Halliburton largely because it used Cheney's influence to get rich from an unnecessary war with no-bid contracts and participation in unsafe drilling practices in the Gulf; Exxon largely because it receives huge government subsidies for doing exactly what it always does, drill for oil - and when the oil spills delay payment for damages as long as possible and get out of paying as much as possible.
Here's a little history of just how successful Bain Capital has been;
Mac, Rev. Al commercial never made any sense to me. After all him and his friends ate the pies their mother's baked. I admit it I don't like Rev. Al .
As usual you are WRONG again Stanley!
I call Willard - Willard because it is his FIRST name.
Unlike YOU & others who use the racist dog whistle in calling OUR President Hussein!
Is there a particular reason you find it embarssing?
Clear enough for you honey?
PS: I do ♥ Rev Al's blueberry commercial!
Rhino: you are ridiculous. 'my harvard educated guy is better than your harvard educated guy' because my Harvard educated guy became a rich venture capitalist? (that b.s. about "100,000' jobs may work with the Limbaugh echo chamber but not outside it...creating wealth is NOT the same as creating jobs and that bit of absurd 'man of the people' nonsense is not going to sell with anyone remotelyl familiar with venture capitalism.)
J. Merle Stanley,
Willard Mitt Romney (born March 12, 1947) is an American businessman and politician. He was the 70th Governor of Massachusetts from 2003 to 2007 and is a candidate for ……
http://en.wikipedia.org/wiki/Mitt_romney
BTW J. Merle why not change your “handle” from your name to “Report the Rezko, Ayres story” so you don’t have to explain yourself 20 times a day and you can discuss current events?
@Feisty, yes, that was a very little history of Bain Capital. Will you kindly post the outcome of their investment in Staples, Monsanto, Sports Authority, Dominos, Sealy, Steel Dynamics and about 70 more companies. I mean as long as we are posting a companies history don't you think we should post the entire history. Or were you just trying to slant the truth to support your liberal argument?
I do find it interesting that the article mentioned points out that Bain invested 22% of their money in these companies. Why, I wonder does it not mention where the other 78% of their money went. That's kind of an important question don't you think?
I'll leave it to you do some homework to bolster your conservative slant...
Gee,
They really like to play up the negative on Mitt and his fellow republican challengers on this site. If a book got written in which one of them treated our troops like trash as obama did in Iraq I'm sure it would get some play here. But since it's Obama it's free pass time as usual.
After the talk, out of earshot from the soldiers and diplomats, he starts to complain. He starts to act very un-Obamalike, according to a U.S. embassy official
who helped organize the trip in Baghdad.
He’s asked to go out to take a few more pictures with soldiers and embassy staffers. He’s asked to sign copies of his book. “He didn’t want to take pictures with any more soldiers; he was complaining about it,” a State Department official tells me. “Look, I was excited to meet him. I wanted to like him. Let’s just say the scales fell from my
eyes after I did. These are people over here who’ve been fighting the war, or working every day for the war effort, and he didn’t want to take f-----g pictures with them?"
"Romney's dog days are coming with his dirty laundry"
Rob
If you are going to use quotes to make a point you really should source your material.
Another moronic post by FR. Since only 5% of the people that go to this site are conservative it looks like a 20% showing that Bain will have no impact indicates a wide margin of victory for Romney in November.
I have done the homework. A ton of it. That is how I knew I could safely call BS on your comment. For easy research though, just read this article. It will give you an idea of how Bain and Romney really operated.
http://www.newsmax.com/RonaldKessler/Bain-Staples-Romney-Capital/2012/01/13/id/424112
President Obama released his 2007 tax returns in April of 2008. So it would appear the Mitt Romney has plenty of time.
So why the whining?
Doubtful...
I'm sorry you are suffering from premature BS syndrome...
Maybe you should try to find another source which isn't quite so slanted & partisan... lol
You really aren't very good at this... are you? ;o)
I doubt Bain will cost him the election unless the Free Market Economy is on trial. I predict Bain will backfire on anybody that attacks Romney for for this reason....
Blingrich just needs to shut up and join the Occupy movement... lol
Let's hope it doesn't hurt him. We want Romney to not only win Iowa and NH, but South Carolina, Fla, and all the rest too!
GO MITT!!!
(oh, and did I mention something about a '2nd ammendment' activity, and 'fish in a barrell'??)
Nor are you, Feisty! A big mouth spewing a lot of words doesn't cut it; there has to be some substance once in awhile. I'm sure in digging up Bains's failures, you had to encounter their many successes as well.......why didn't you list them too?
So how will the venture capitalist put money in the pockets of consumers to spur demand, business does not expand or hire unless there is increased demand for their product and services, will he propose an infrastructure spending bill, and if he does is this now considered a smart infusion of investment capital for the US or is it considered an obscene display of socialism as it was described when Obama proposed it. Companies are sitting on more capital than they ever have, they are suffering because they have no customers, how will Romney bring them customers?
Rhino, can you find me something not written by a conspiracy nut like Kessler? Just look at his body of work and his credibility is about zero. Except for his Laura Bush biography it's largely all conspiracy nonsense. You guys seem to like to find stuff written by people at the NY Times because you think it will lend credibility with those who lean left. The Times has their fair share of nuts on the staff just like Fox, NBC, CBS, Politico, Huffington and the rest of what you like to call "Lame Street Media". This guy is a major zero.
As both papers tend to lean conservative you can hardly throw the bias card. What you can do is admit that both articles contain factual data. I'm not disputing the data your provided, merely stating that your portrayal of Bain Capital is incomplete. Are you making the argument that it is a complete picture? Can you honestly say that in your educated opinion, Bain Capital never created jobs, or turned around businesses? Can you even honestly say that they did not achieve good results most of the time? Would you say that the 4 companies you listed better define the exceptions or the norm at Bain Capital?
Be honest now.
I'm so jealous of Mitt and his wealth and his family and his good looks and his power. I'm just so JEALOUS. Oh wait. No I'm not. I just think he's a dick.
Yea yea whatever. If the president actually acted "cranky" we don't know the circumstances. Besides, no one would EVER dream of offloading a bunch of BS in a book about any president, much less this one.
Drama sells. How can anyone verify this???
Here you go Don,
Michael Hastings' new book, The Operators, jabs at what could be a vulnerable spot for the Obama Administration, the president's relationship with the troops.
Keep in mind though that Hastings works for the ultra conservative Rolling Stone Magazine hahahah
Agreed
The argument I am making is, the only objective of a venture capitalist is to make as much MONEY as possible!
Anything that stands in their way is collateral damage as far as they are concerned.
That includes jobs...
uaw pleeeee "The companies that Bain got involved with were already wrecked"
You have no idea of what your talking about. those companies where viable and had assets.
those assets are/were Bains goals. they bleed those companies of assets and then bankrupt em.
And now we find that they raided pension funds and left the PBGC.gov to cover it. Sweet deal for Bain and their partners.
The Conservative way. Evil!
Also, if you think unions are the great evil as your name and post suggest, well then no one could possibly have enough patience to have an intelligent conversation with you. since all you do is repeat what you hear from conservative media.
LOL, everybody knows what Romney's first name is.....but NOBODY calls him that except YOU on this board, NastyRedNeck; and, the reason you do it is because Al Sharpton does it on TV.
Ha Ha
Oh and I see your RACE-BAITING-RACIST-FOLLOW-UP-REMARK has do with calling everyone who doesn't support Obama "a racist"......yet again.
You need to get a new response mantra.
But then again, you are a RACE-BATING-RACIST, so why change, eh?
Ha Ha :-)
Oh and Dennis in Columbus......I see that the Rezko and Ayers stories agitate you.
GOOD.
I don't mind "explaining myself" at all. It's a damn-site more than Obama has ever done.
It IS a current-event, because Rezko is STILL in jail, Obama is STILL The President of The United States, and the Obama's STILL own that property in Kenwood. Where did the money come from to purchase that estate? Why did they get the house for $185,000 beneath the seller's asking price? Why were the Obama's able to purchase 10' of the Rezko's neighboring property line at such so cheaply? Why did Obama write letters for Rezko's developement company in reference to projects that were outside of his State Senate district in Chicago? Why do he "break bread" with a man who was involved in threatening people's lives, firebombing residential, commercial AND government buildings, and who's OTHER friends MURDERED two security guards and a COP?!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Huh, 77% of the responders think Bain will hurt Romney's chances. That's almost exactly the same percentage of Americans who think the Church of Jesus Christ of Latter Day Saints in a cult, like scientology.
Huh. Isn't that an interesting coincidence?
So, do you think Bain is just a non-discriminatory, non-intolerant way to be against Romney? You know, without having to come out and say "I won't vote for him because he's a Mormon?"
Naaaaah, that's a reach. They think it will hurt him because he's a vulture capitalist and job "cremator" who is worth over 200 million dollars, and has 15 houses.
77%. Wow. That's a number worth talking about.
Obama/Biden 2012
See, we can agree on a few things. Yes, that is their job. Let me ask you, do you have a 401K or similar retirement plan? When you invest your money in that plan do you hope it grows? If you do then you have the same attitude as Bain Capital. In fact if your retirement funds have grown then there is a good chance you have Bain Capital to thank for it. That is where much of their venture capital comes from. Bain has shown a remarkable return to investors over the years which means there are millions of retirees today who have Bain to thank.
Do you see why looking at the whole picture is important?
Hey Stanley -
Don't like me?
Have a seat with the rest of the bitches waiting for me to give a f@ck!
Go find someone else leg to hump honey, or I'll set off your shock collar!
PS: Are you Leona's grandmother?
You both have some issues when it comes to mental stability!
You got it Chris it was not the union members that ran off with the cash, they are not building mansions on the beach, and the ones that did not get robbed of their retirement are not the ones depending on medicaid and food-stamps in their old age. Non union employees such as yalmart workers are much more a burden on society, which has to subsidize their health-care even while they are employed.
a
Feisty Redhead Roselle, IL
"..........Hey Stanley -
Don't like me?
Have a seat with the rest of the bitches waiting for me to give a f@ck!
Go find someone else leg to hump honey, or I'll set off your shock collar!
PS: Are you Leona's grandmother?
You both have some issues when it comes to mental stability! .........."
HAAAAAAAAAAAAAAAAAAAAAAAAAA HA HA HA HA, roflmfao!
What'sa matter Nasty-RedNeck, lost our temper did we?
I neither like, nor dislike you.
I am just responding to your doltish postings.
LOLOLOLOL The Leona thing is HILARIOUS! Ha Ha Ha
Who's YOUR Gran'MaMa, JoAnne Chesimard?
J. Merle Stanley,
Sorry but your obsession with these to charters doesn’t bother me one bit – I dealt with that 3 years ago and put it aside.
What I see is someone that has such a huge obsession with one issue that it should be a serious concern for those around you that at any time you will have a mental breakdown, that you could become a danger to yourself or others.
“Why do he "break bread" with a man who was involved in threatening people's lives, firebombing residential, commercial AND government buildings, and who's OTHER friends MURDERED two security guards and a COP?!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!”
Over 40 years ago
I think all the anger is in the present reality , As in they know Obama is done ,
What else does Romney have to run on except Bain? He's disavowed all of his actions as governor ("I was never for a mandate, I was never pro-choice, I never called myself a progressive, I never did anything as governor..."). The only other things Romney has done is his life has been a missionary (but please don't ask him about details of what he preached regarding other Christian religions or black people) and a corporate raider (but please ignore all the businesses he shut down).
What again is the reason people are voting for him? The hair and the smile?
What does that matter? Skin color got you all hot and bothered.
Their is the rub, does the average American have common sense? Do they get all of the information from attack ads and the talking heads?
According to who? Romeny? You? Rush?
We already did. His name is Barack.
Obama/Biden 2012
Ok, so Fiesty can show 4 times where Bain bought a company that ultimately failed. Here is list for you Fiesty of many of Bain's sucesses.
AMC Entertainment, Aspen Education Group, Brookstone, Burger King, Burlington Coat Factory, Clear Channel Communications, Domino's Pizza, DoubleClick, Dunkin' Donuts, D&M Holdings, Guitar Center, Hospital Corporation of America (HCA), Sealy, The Sports Authority, Staples, Toys "R" Us, Warner Music Group and The Weather Channel. http://en.wikipedia.org/wiki/Bain_Capital
So how many jobs did Bain cut in the four examples you provided compared to the number of jobs it saved or created by turning around all the businesses listed above.
You also want to point to a poll on First Read as absolute proof that this will hurt Romney, when the majority of posters on here are left leaning anyway. Hardly a non biased poll. And that goes for Skip Nicols as well!
The reality of it is that Bain has bought companies and had to close some of them down as they could not turn them around. These companies would have been closed down anyway and in bankruptcy and the employees let go any way. You want to criticize Bain for then selling the assets of these companies to profit when they would have failed any way years before. Bain at least made a go of it and gave many of these employees more time. In most other cases, Bain was able to turn companies around and while it may have laid off some employees, by doing so they were able to salvage the company and create jobs in the long run.
The President wants more power to be able to consolidate inefficent departments in the federal goverenment, which will result in as many as 2000 federal jobs being lost. Then, on the very same day release an attack againts Romeny for him shutting down a plant that in South Carolina and laying off 150 employees, while saving the company that now employs over 600. The company survived because Bain eliminated the inefficiencies in that company. Obama wants to do the same with the federal government all you lefties praise him for it and then turn around and attack Romeny for doing the exact same thing.
Lastly, I have asked one of you libbies to provide just one expample of where Bain bought out a company and intentionally raided its pension fund and ran the company into the ground. You can't because any time that a Bain owned company filed for Bankruptcy, the company was already in trouble when Bain took over and was heading to bankruptcy anyway. Give just one example of Bain acquiring a healthy company that then failed due directly to Bain running it into the ground.
@STLMike:
Thank you for typing all that up. I really didn't want to, but would have! I love to watch people point at a poll (like this one) from a left-leaning website (like this one), then bash anyone's evidence to the contrary that comes from a right-leaning website. I call that "Hypocrisy".
Obama's going down. 1-term president.
Eaton - Do some research and see what Bain/Brookside has done for Eaton. Not bankrupt yet, but they are driving it for the ledge. Eaton has laid off over 5000 people in the past couple of years, have hired no one. Employees hate the company. Is outsourcing more jobs to Mexico.
Put down the ideological Kool-Aid and do some real research Mike. In particular, read some employee reviews. Nothing like going directly to the source when you want to see how management treats people and how management hides their layoffs and other efforts to starve a company.
It's sad that Republicans have lost their ability to understand any form of loyalty and values other than to profit. Really sad. In the Republican business model, the company never takes it on the chin for the employes, but the employes are Expected to take it on the chin to prop up one more "investor". It use to be that sometimes ownership did with a little less investment return so they did not have to destroy families. Now, no way, slightest downturn in investment return, let them eat cake.
lray801...This is the 2nd day I've posted this about Bain, and the 2nd day in a row where not a single perosn attacking Romney can provide me with just one example of Bain gutting a healthy company and raiding its pension fund and assets. Its funny when undisputable facts are given, the left simply will either ignore my posts or come out and personally attack me.
STLMIke
There's lots of information, but here is a place to start. You only need to Google "Romney Bain" to find lots of examples of Bain actions, both good and bad.
http://seattletimes.nwsource.com/html/opinion/2017225286_harrop13.html
which reads in part:
Nice try down, but you gave me an example from my home state. Bain bought World Wide Grinders when it was struggling and had an outdated plant. They merged it with another steel company, invested in the plant and tried to turn the business around. They failed. I never said Bain was didn't have any failures. However, this does not show that Bain bought the company with the intention to break it up and raided its pension funds as so many claim. The ultimate failure of the company was several factors, some of which were mismanagement but a major contributing factor was the cheap imported steal that flooded the US market and put over 1/2 of the US Steal industry into bankruptcy. This is hardly a case where Bain pursposefully ran a company into the ground in order to profit. And next time, try using an unbiased source other than an op ed.
feisty 1.3 -- the best you got is to point to a poll taken on msnbc about a republican?
let's get fox to run a poll about obama's unconstitutional decision regarding his recent recess appointments and see where that takes us
each would have the same level of credibility.
thanks for the laugh
How about this
http://www.massresistance.org/romney/ampad_062607/index.html
And just for your information, you refer to the "steal industry". I think you meant steel industry. The steal industry is Bain Capital.
By the way Don, it wasn't Bain that didn't hold up to its bargain in paying out the pensions in this case and the company was not in good health prior to Bain's purchase...
Armco wanted to sell its Kansas City plant to concentrate on other aspects of its business. Jack Stutz and a few of the other Armco managers were looking for backers to help them buy it. They spoke to GE Capital, which, in turn, contacted Bain Capital because it had earned a sterling reputation for turning companies around.
The risks were obvious. The mill's equipment was out of date and it faced stiff competition from Nucor Corp, which also made grinding balls.
Nevertheless, Bain and its partners decided to buy the mill for $75 million. Bain put up about $8 million to gain majority control of the company, renamed GS Technologies Inc. GE Capital, former Armco executives and Leggett & Platt, a major customer for the mill's wire rods, chipped in the rest of the equity.
As part of the deal, Armco agreed to cover employee pension obligations if the plant closed within five years -- a $120 million liability, according to the Kansas City Business Journal.
Oh now Don, you caught me on a typo. By all means that should invalidate the rest of my post.
As for Ampad, you do realized that Ampad was sold by Mead to Bain in 1992 in order to raise capital and and improve its efficiencies.
The Mead Corporation, a leading maker of paper products and developer of electronic information services, announced yesterday that it would lay off about 1,000 employees, or 5 percent of its work force, over the next two years.
The company, based in Dayton, Ohio, also announced that it would sell the Ampad Corporation, its commercial office products business, to Bain Capital, a Boston-based investment firm. The sale will generate a cash gain of $56 million, Mead said. The company said it was selling Ampad because it had found Ampad's products difficult to integrate into Mead's existing product lines.
And once again, Bain did not go into Ampad and cut the company. It attempted to grow the company and increase profits, which it did until the late 1990's as stated by your own source until increased competition caused it to become unprofitable. Bain could have not bought Ampad and the company would have seen its workforce cut or outright shut down as Mead was struggling. And again, the total number of jobs lost in this case was a few hundred, compared to the thousdands that are still employed as a result of Bain's investment and sucessful turnaround of the companies.
The problem is, thanks to the Bush tax cuts, those "successful people" just got richer and didn't create any jobs, instead they kept offshoring jobs, that's why unemployment kept rising in the last years of the Bush administration. Most of those "successful people" didn't invest in risky businesses that might have hired people, instead they invested their extra wealth in the no-risk Treasury bills that financed the Bush deficits. Also due to the Bush tax cuts, those "successful people" weren't helping to pay the Nation's bills, that's why the Bush administration racked up 4.9 trillion dollars in debt instead.
Are you being ironic or sarcastic? It's hard to tell. If you're trying to be serious, then you must love bending over for Exxon and saying "more, please, sir" while they gouge your wallet. You must think all the misdeeds and shenanigans of Halliburton were just fine and dandy as long as they made money off of the Government. As for Enron, not only were their criminal exploits legendary, but they FAILED - as in BANKRUPTCY. If you really think of Enron as a "successful company" then you seriously need to take a basic Economics course - and a course on logic. Coming back to reality would help, too.
As a now-mysteriously-missing member of the GOP would have said, "You betcha!"
I am not a Republican, but I do think that criticism of Romney's tenure at Bain is a little too extreme because, I mean, that is what venture capitalists do. But I also think that if Romney has the guts to risk his entire campaign by extolling the virtues of his "job creating" talent, he should be willing to accept the fact that his rivals (and the media) will use it against him. He should also try to show how many jobs that his company actually created, and how much they ended. And I also find it weird how when OWS protesters where protesting a Romney speech in NH, he openly wished that they would be more respectful. Isn't this the guy who keeps questioning Obama's patriotism, his belief in America, his support for Israel, and who calls him a "failed president?" I mean, Obama has messed up quite a bit in his 3 years, but he has made up for it in many ways. The stimulus reversed the loss of jobs and helped turn our economy around. He helped the auto industry recover, rather than letting them file for bankruptcy and shed tens of thousands of jobs. He signed dozens of bills for workers, at least tried to reform healthcare with Obama-care (which is saving money as we speak), and compromised with the GOP on numerous occasions, most poignantly during the summer debt debate. No matter what the GOP threw at him, he was willing to compromise. Personally, I wish he wasn't so apt to compromise, but then again the art of bargaining is an America virtue. Unfortunately, the so-called "Party of America" has repudiated this president time and again, criticizing his mistakes, never giving him credit for certain accomplishments (like killing bin Laden), and all they want is to get him out of office. Not cooperate, not work to improve our economy, but to get him out of office. If that isn't un-American and despicable, then I don't know what is.
Obama Biden 2012
Hope and Change 2012
Fix the mistake we made in November 2010.
I don't know if its funny or pathetic that Fiesty Redhead thinks Obama can be re-elected. At this point, even Dan Quayle can beat him!
Did you see Romney at some S.C. Veterans Hall today with McKook, Bolton & Queen Haley ?
All they esposed was hate & death and the end-of-the-world is coming if you don't vote for Romney ... and sadly, was McKooks' gastly display of what he thinks is funny as humor and the humor of war ... and vile humor at gay marines as if we need to get rid of them now ... at a veterans hall full of old-veterans from all the Armed Forces who laughed along with it ...
When it came to Q & A from the audience ... the first question to Romney was *How did you manage to say all this without a telemprompter ? *
Answer by Romney ~ *Oh we have a hater here* ... followed by his phoney laugh and at you ...
Sad.
"Fear is the path to the Dark Side. Fear leads to anger, anger leads to hate and hate leads to suffering."
~Yoda
Mark, based on these poll results, look for this Q and A to take place on Tuesday, November 6.
OBAMA/BIDEN 2012
While many Republicans see their ticket to the Whitehouse by having Marco Rubio as the VP candidate the fact is that a larger majority of Hispanic-Americans do not know who he is much less what he stands for.
Rubio is in a lot of trouble in Florida. There are some old drug lord connections and the citizens of Florida will not re-elect him. Don't think that would help Romney. No his VP candidate is going to be Christie which is also a real unfortunate choice as he is not a physically well man.
Your not going to beat Obama's support from Hispanic's unless he kicks his illegal relatives out of the country. That isnt likley to happen....
Dennis Columbus, Ohio, Having lived in both Florida and Arizona the concerns of Cuban Americans are far different then Latinos living in the Southwest. I don't think Marco Rubio would be a help to Gov. Romney.
UAW: apparantly you are completely unaware that Hispanic AMERICAN citizens are the fastest growing number in this country?? Could you be any more ignorant than to assume all Hispanics are illegal aliens?
"Huntsman is O.K., but the rest of them are Clowns" !!!!!!!!!!!!!
Come on AP can you be so ignorant to deny that the fastest growing segment of illegals in this country are hispanic? I'm simply saying Hispanics are more likley to support a candidate whose family is living here illegally......
Dennis, I didn't know much about carter either in 1976. Those that want to learn will, those that don't, won't.
I’m looking forward to the debates between President Obama and Willard. In this case Willard will deliver more gaffes, because we know that Willard can’t take the get in your face pressure and he is not the big thinker. When President Obama gets in his face, Willard will fold and panic with his nervous laugh.
Let’s all remember that Willard torn companies apart and fired employees leaving them jobless, and losing their homes at the expense of making money. He turned his back on those people like the cold calculated person he is. Not to mention the flip flop side of flop.
Let’s all remember that Willard torn companies apart....
Of course that is absolutely false on the other hand we have Obama that has torn this country apart!
Romney's proclaimed strength is in question here and that bad news for him. He hardly discuss his days as MA governor, runs away from RomneyCare. Do I ENVY his position, NAA.
GOP is now seen that Morality is an issue and has a lot to do when making money. Free market is seriously at test, primary/general, in this election. "Wars are better fought away from home"
Of course that is absolutely false on the other hand we have Obama that has torn this country apart!
Gosh, so many Republicans are showing signs of short term memory. I myself remember how bad the economy and unemployment were under President Bush and getting worst up to his last days in office.
So actually the truth is, President Obama inherited this incredible brink of depression mess from President Bush and President Obama has done a good job of turning the country around.
I honestly have to say anyone that doesn’t recognize this fact is pretty out of touch with reality.
True but when being republican is more of a religion than an exercise in critical thinking and choosing for yourself it is not surprising up to 30% of the country still claims membership in this cult.
Then why do you suppose TWICE as many Americans fear Obama will be re-elected than Iran getting a Nuclear bomb?
Answer me that?
Rob - The answer you should be looking for is how to defend free market also known as vulture capitalism. Obama will be re-elected as president and you'll still not have the answer to this immoral practice even Ronald Regan wondered why a taxi cab driver should be paying more in taxes than Romney and the rest top 1%.
Rob, do you have a source (other than FoxNews) for that statement? The only place I have seen it is in your posts.
http://www.usnews.com/news/blogs/washington-whispers/2012/01/09/poll-americans-2-1-fear-obamas-reelection
Even if Obama did get reelected he won't be able to pass anymore ridiculous laws with a split House and senate. based on that I think alot of first time voters in '08 will either stay home or vote for Romney. Romney does have some extended family south of the border, I'm not sure how that would translate into Hispanic voters in the US. I think we can all agree we need better leadership in the White House. Every President since Washington has had to deal with opposing politicians. Some are just not cut out to be leaders......
Rubio as VP will sweep u the Latino vote. And after this election with Romney will have a republican house and senate to undo the mess obama has wrought.
Then why do you suppose TWICE as many Americans fear Obama will be re-elected than Iran getting a Nuclear bomb?
Rob,
So, it's only 33%. They are Republicans. You can find even a higher percentage that fear a Republican such as Romany being elected. The latest poll I saw last night has favored Obama 48% to Romany 43%.,with the President 5 points ahead.
Polls change and they will continue to change up until the election.
I see the republicans love Latinos as long as they follow the GOP talking points.
Rubio as VP will sweep u the Latino vote.
No it won't. The Repubs may get a larger percentage of the Latino vote and shore up a Cuban American stronghold in Florida, but Rubio alone will not sweep the Latino vote.
Remember just like any other large group Latinos are not a homogeneous, single issue block vote. Surprising as you may find it, for some Latinos the biggest issue is not about immigration.
Just because a candidate speaks Spanish and has a Latin background like Rubio doesn't mean that they would support him. Personally, I would vote for a yellow dog before I voted for him.
Wow! Conservatives really do live in an upside down parallel universe!
Because that scenario is an absolute nightmare for the future to those who are not born with a silver spoon. And many Latino's know Rubio is a wolf in sheep's clothing although he does have more appeal than Herman Cain had in the black community. They will look at Romney's policies and realize who they favor. At least those with sufficient intelligence will understand.
"What Obama has wrought"? When you consider most economists forecast an entire decade for the economy to recover in '08 we are actually sitting in decent position today only 3 1/2 years post disaster. The bailouts, the stimulus, the Healthcare Recovery Act all served a part in that. Of course to the intellectually ignorant your statement still makes sense and that's the real problem.
Hmmm... What will cost Romney is this: He has nothing in common with regular folks, because he has been at least a little sheltered by his wealthy lifestyle. When is the last time he volunteered at a local community food bank? Never? Plus, he has the charisma of a rutabaga. It is a very big disappointment, very sad, to see that the Republican Party cannot find better qualified candidates.
WhistleBerries-
Why are you hating on rutabagas? Must be envy!
Probably because they are stupid and have no idea how the world around them works and take all their priorities from the preacher and faux news.
What American's ENVY is the fact that Mitt Romney is the Best that Republicans havta offer for President!
You'd have thought that the TeaParty/Republicans would've prepared a better Candidate!
Occupy SoggyBottom!
Not sure about the envy comment, but the republican field isn't awe inspiring, then again...
ABO 2012!
By itself, no, the Bain background won't cost him the election. But it does fit into a larger narrative of 1) a rich guy who can't understand the daily concerns of those in a station far below his, and 2) his authenticity problem, both in trying to appear like he does understand those daily concerns and also with all the flip flopping and political weather vane negatives he's already carrying.
Romney is the guy who will say anything to get elected. "You want abortions? I'm for 'em. Oh, this new audience doesn't want abortions? I'm against 'em." And he's shameless about it, which provides a treasure of conflicting statements.
There's also the questionable statements that just may reveal his inner Willard.
"I created 100,000 jobs." No you didn't. You just added up all the jobs in the companies to which Bain provided capital.
"I like firing people." "Wait, I didn't mean that like it sounded... was in the context of firing an insurance company..." Nice try, Willard, but most people don't even like doing that. For most of us, having to replace insurance carriers is a pain in the butt, and may involve an awkward discussion with the agent who sold you the original policy. Most people don't like doing things like that. Only an out-of-touch, richer 'n sin, priviledged pile of horse crap like you likes doing that.
"I created 100,000 jobs." No you didn't. You just added up all the jobs in the companies to which Bain provided capital.
Well, by that argument, the President cannot claim that the stimulous created or saved jobs as all the stimulous did was provide capital to companies as well.
Most of that federal stimulus capital went to state governments to save public employee jobs (cops, firefighters,teachers, etc). The rest primarily went to tax cuts.
And as far as your arguments about Bain being a positive rather than negative for Romney, why do you suppose the Republican community is so freaked out that it is being discussed at all? I would venture that the party doesn't want the whole election centered around questioning the entire set of principles of capitalism and how it has caused the ever widening wealth gap.
Romney will cost Romney the election.
He is plastic, out-of-touch, flip-flopping, etc. Bain is only one part of the problem for Mitt.
..............................................."Romney got hijacked by the 1%"
Besides Bain his constant flip flopping like a freshly caught fish on the bottom of the boat and his affiliation with the Teapublicans will not be good for him. He's the best the GOP has and that won't be good enough.
We can be assured that Gov. Romney has a monumental task ahead of him. He will be like Sisyphus trying to push the rock up the mountain and not make it to the top.
His work at Bain won't, in and of itself, cause his loss but that, coupled with other things will.
Romney will have to select a running mate. If he chooses someone more toward the center he loses the Tparty and other extremist elements and if he opts for one of them he could alienate the middle.
Frankly, I believe he will come in second to Obama and Ron Paul will suck off enough votes from the Republican ticket to be a major problem for Romney. Paul, running won't be the deciding factor of a loss for Romney but a contributing factor like the flip flopping and the Bain as well as a few other things I am sure will come out soon enough.
Bain will be a bane and hie tax returns another.
FRIDAY THE 13th FOR THE GOP
Obama just asked for permission to make government smaller.
Obama 2012
At least it isn't april 1st.
We have heard rhetoric from obama before, followed by inaction. Not really sure why he needs comgressional approval, unless it is just out of courtesy. LMAO, obama being courteous seems like an oxymoron when considering all his actions in 2011. Wasn't there also a report on how he wanted to impliment some of reagans policies as well?
Sounds more like he wants to grasp all the straws he can before november. His proposed FY 2013 budget should be interesting to see.
Sorry mr president, but you are the perfect example of how "on the job training" across the board doesn't work for being POTUS.
Seriously?
I think there's a thoughtful way to argue that Romney's Bain experience is not what we want in the Oval Office, but most likely it'll just become the fodder of extreme points of view and be dismissed as such.
Corporations may be people (according to Romney) but people aren't corporations, so a President Romney can't just bankrupt the ones that aren't making a profit.
You'd think we would have learned when we elected someone who had bankrupted every company he had owned and then watched him bankrupt America. What they did in the private sector they will do to the country.
What they did in the private sector they will do to the country....
You mean like turn around struggling companies like Staples, Burger King, Domino's Pizza, AMC Entertainment, Sealy and make them profitable again by eliminating waste and inefficiencies. We can only hope Romney will be able to do that with the Federal Government.
You do realize it is congress and not the president who restructures agencies and hires and fires people, right?
Oh and by the way, Mike, which do you consider the greater worry about a presidential candidate; one who refuses to release their university transcripts or one who refuses to release their tax records?
I have no problem with Romney's work at Bain. I am betting that the thousands of people who work at Staples, Sports Authority, and other companies that Bain helped turn around won't either.
If that's your argument, it's a poor one. Rush Limbaugh said that, not me.
As you can see, I rethought that statement and removed it.
dear readers: staples is nearing bankruptcy and most give it no more than a year or two at the most before its gone ! ( wall street journal 2010 )
Then there are the folks at Eaton, who after 5000 layoffs in the past couple of years while jobs were outsourced to Mexico are not feeling like the folks with the $7.50 an hour jobs at the sporting goods store or selling printer ink did so well. I'm not sure how you think that is a good thing for America. Give the high paying Eaton manufacturing jobs to Mexico so Willard and friends can maximize their "investment" and then claim that by saving some jobs selling printer ink they did the country a favor. Romney's priority is lining his pockets and has nothing to do with wanting to help the American middle class. He helps by offering to save you a $7.50 an hour job.
Ever think of this...if the economy sucks, it's because those who run it - business people - don't know what the heck they're doing. So why in the heck would you want to put one of those people, i.e. Mitt, at the helm of the country?
Are you implying that government can run business better? LMAO!
No, just that business and government are two different things. Being able to run one does not necessarily equate to being able to run the other.
Romney failed as MA governor. Jobs ran like hell from the state. So what makes you think he could be a good president? Because of his "business experience?" Oh yeah. Mitt can just fire everyone, sell off all our assets and head for the hills.
For every "success" (and I use that term loosely) there was at Bain, there were 4 or 5 other companies that were simply overleveraged, bankrupted and destroyed. Our country is his next target.
Between the Bain experience, the "I love pink slips" and the sick dog on top of the car roof, I think this guy is about as cold, unfeeling and out of touch with normal Americans as you can get. God help all of us if he should become our president. Once I would have said he couldn't possibly beat President Obama, but after the re-election of GWB, I realized even the most absurd is possible.
He said he likes the option of "firing his health insurance company" i.e., changing who he buys his insurance from. Don't you?
I've known Mitt personally for over thirty-five years -- we once worked together. He's personally warm and compassionate.
BTW, in a capitalist economy, businesses aren't created for the purpose of creating jobs, jobs come when businesses grow and innovate. Sometimes you have to amputate a limb to save the patient. I don't know ANYBODY who "enjoys" seeing people laid off, and Mitt is one of the people I know.
SH - Frustreted Viewer
And President Obama's mother-in-law actually likes him, he's a nice guy and he already has experience as President: I say re-elect Obama and let Romney go back to creating jobs overseas by amputating jobs in America.
First let us all remember that Republicans will defend Romney's record, Democrats will defend Obama's a true voter will look at the facts, Romney is good at destroying jobs, he can not bring the parties together no more than Obama. When an agenda is set to go against and pray that your President fails that should speak volumes. As an Independent I have seen the GOP say no and stall and cause a ruckus even though some of Obama's ideas are from their side of the table. And if Romney were to win don't you think the Democrats will get revenge
Which means you're probably one of the wealthiest 1%, quite possibly part of the ultra-wealthy 0.1% that includes Romney. Of course he's friendly to his fellow corporate raiders, they're the only friends he'll ever have.
BTW, it isn't wise to let on in public that you've worked with Mitt, that means either you were with Massachusetts state Government (not popular with Teapublicans) or with Bain (not popular with the working class). Those are the only jobs he's had.
Do you really think Romney wants to expose that he paid zero taxes on his millions?
Or, he has a "Buffet Problem," - i.e. paid at a much lower "effective rate" than the highest bracket.
I can't figure out how anybody worth what is rumored to be around $270 million, thinks they can run for the Presidency in the middle of an economic downturn, with high unemployment. If he had actually built a product and grown a start-up company, like Jobs or Gates, I could understand it. But, Romney's wealth would have never been achieved had it not been for the new financial tricks he learned at Harvard Business School, regarding the craze in the eighties over "shareholder value."
Mitt "The Gordon Gekko" of Bain Capital Management. Not even PC these days.
If Mormon Romney become president, does that mean he'll ban all caffenated drinks from the White House and have staff build him his "canned goods/apocolypse" room?
From a Coke-drinking Mormon: stupid comment.
No, becausde they threw out that rule when they purchased Coca-Cola. As long as they make money from it it's ok. Just FYI, this information regarding the rule was directly from a Mormon friend of mine, since I'm sure I will get told off for it.
@Pat I am not sold on Romney but that is an ignorant comment. I thought you libs were more open minded.
I like to know as much as possible about the candidate for POTUS. Tax returns, past employment, religious affiliations, etc. Since Mitt is a serious contender, I started looking into his Mormon beliefs. I must say that I am uncomfortable voting for a man to be POTUS, who was a priest in a faith that teaches that anything but white skin is a curse from God.
Lets see mitts birth certificate ! he was born in a foreign country ! is he even an American ? is he part of a cult ? so what is it? where are all those tea-party questions !
Mitt Romney's life is well documented. He was born in Detroit, MI where at the time, his father was an auto industry executive. His father was elected governor when Mitt was 16. Mitt graduated from Brigham Young and then Harvard with a JD/MBA degree. For more info on his time at Harvard:
http://www.nytimes.com/2011/12/25/us/politics/how-harvard-shaped-mitt-romney.html?pagewanted=all
Your post is a bit silly.
George Romney was born in Mexico, to which his father had fled to avoid prosecution in the US for polygamy.
I personally don't care about Romney's religion or family history, but Republicans sure had a field day attacking Barack Obama for having an African father.
Last I checked, George Romney was dead. But since you are so interested.
Note the part in bold. George Romney's parents were BOTH Americans - regardless of the place of his birth. As for Obama, I am a republican and it never bothered me that his father was from somewhere else. My own father was a immigrant.
Go USA-851295
That's touching, because President Obama was forced to release his long form birth certificate after Republicans wouldn't stop questioning his nationality. Your Party sure likes to add new words to our lexicon, first it was "swiftboating" then it was "birther movement."
So the Romneys moved back to the States when it got too violent in Mexico? That's touching too. I wonder if they could have used some help from the Dream Act?
Amy: Your post is inane.
I have personal experience with Bain Capital. I lost a really sweat IT job in 2006 when they purchased a multinational company that I was working for. Here's a direct quote from the time of the purchase. We are not planning to make any changes to the company as it has never failed to make a profit. This was shortly because they closed the Canada offices, followed by the Iowa offices. The explanation was that they wanted to move those functions back to the corporate headquarters in Chicago. When I was laid off the company had reduced its staffing by almost 75%.
What is a "sweat IT job?"
A typo...never made one?
the grand old party is pathetic the circus clown they have are all jokes they hate the president and would elect bozo if he ran
RE: Bain. I've worked with Mitt as a colleague at both the Boston Consulting Group and Bain Consulting, before Bain Capital was founded, going back over thirty years. We had breakfast a couple of years ago in Beijing (where I worked at the time) when he came over to see first-hand what was happening in China. I've also worked in the private equity industry.
First, Mitt is a thoughtful, analytical, thoroughly decent man. Private equity is mostly about finding companies in trouble, investing in to take control, fixing them up wherever possible, and eventually selling. The primary objective is to save the company -- dead companies aren't worth much. The second is to make it more valuable; value is a combination of growth and profitability. That means making the companies more competitive so it will grow and more profitable. That, in turn, requires innovation and competitive prices. When this is successful, jobs are created. Sometimes, however, it becomes necessary to amputate a limb to save the patient.
On Jobs: In the United States, people don't generally create companies and invest money with the fundamental objective of creating jobs. They invest to make a return on their investment, jobs are a happy by-product. Jobs are created when companies need more people; they need more people when they grow and innovate. Both require investment. The primary source of investment is corporate earnings -- profit. You want jobs, grow and innovate. You want growth and innovation, invest in the private sector. You want investment in the private sector, set the playing field so investment is attractive, and investment here in the US is more attractive than investment elsewhere.
How to create investment: reduce taxes, reduce regulatory burdens, allow capital to flow to where it can generate the best returns ... which is where there is growth and innovation, which is where jobs are created.
This is capitalism in a free-market economy. Adam Smith described how it works in 1776, the year we declared independence. Countries that have adopted socialist models have generally not been competitive. China started to grow only when it threw off its socialist planned economy model and adopted a capitalist, regulated free market model. (I know, I've lived there through for most of the past 29 years.)
In a capitalist system, there must be capitalists -- SOMEBODY other than the State has got to own the productive assets -- whether it's individuals or your pension fund. Taxing the rich means taxing capital; it means diverting money that was investment in productive enterprise to the government, creating government jobs, which increases the budget and reduces the tax base, a fatal spiral. "Tax breaks for the wealthy" are demonized by the left ... who would have us believe that tax policy is somehow merely subsidizing conspicuous consumption by the super rich; a better understanding is that it is reducing taxes on capital, stimulating investment-- which leads to jobs.
Of all the candidates vying for the presidency, Mitt Romney understands the best how this works. Investment -- in growth and innovation -- creates jobs.
I would expect the socialist-leaning Left to pile on Mitt's Bain experience, but coming from the far right?
'nuff said.
This appears to be sound thinking if you are of the world, but if you are spiritual, this is very unsound and very definitely greed becuase you are contolilng the livihoods of workers you are laying off just so you can get rich. In God's realm this is a grave sin.
Wow...you start off by making Bain sound like the "Salvation Army of Investment Banking." Where may I send a check to support all of the good work they are doing?
Then, you come around to the reality. The Republican agenda you outline (lower taxes, deregulation) fails to confront that reality...namely a globalized economy, wherein investment flows to where the promise of returns is greatest, adjusted for risk. I'd suggest that that globalization process basically killed the advantages of "trickle down economics" for the average American worker, as soon as his credit was gone.
Bernanke had it right when he testified before Congress and explained that THE single largest factor leading to the economic breakdown was "Asian savings."
U.S. investment (and jobs) will not return until there is "demand." Demand will not return until past debt has been paid down. Once that debt is paid down, personal savings have to rise, upon which to found solid credit. Once credit is restored then demand will return and with demand comes jobs.
The "Catch 22," of course, is jobs. Jobs won't come back until there is consumer demand; consumer demand won't come back until there are jobs.
That's a tough process...and a long haul...illustrated by the answer to a simple question: If you were an investor, seeking a reasonably safe return, based on the future success of, say, a shopping center, where would you invest...in a shopping center in Detroit or one in Beijing?
The long haul is through U.S. infrastructure improvement, educational reform, and the return of manufacturing jobs, based on our existing export base and new exports. To be competitive in these areas does NOT require enormous tax cuts or deregulation. Why? Because most of our global competition in our current export areas is with other advanced industrial countries, such as Germany, Japan, Korea, et al. These countries generally possess "partially socialized systems," with pensions, universal health care, and comparable effective tax rates, with safety and environmental regulation.
The idea that tax cuts and deregulation are the answers to our economic situation is nothing more than the advocacy of a race to the bottom for what is left of the American middle class and the evolution of a society of rich and poor.
SH - Frustreted Viewer
You sound like a sweet man. However your statement "dead companies aren't worth much" is obviously not true, as Bain Capital managed to make a profit even as some of their companies went bankrupt or were closed. This is what one learns when reviewing the history of Bain Capital, for example, how the federal government had to cover the pension fund of KC Steel, even as Bain Capital profited by selling off parts of the company.
http://www.macon.com/2012/01/09/1856642/bain-capital-tied-to-bankruptcy.html?storylink=addthis
How long does that take? Because so far 30 years of tax policy that favors the wealthy hasn't done it. Seriously, when will something start to trickle down besides the middle class standard of living? I'm all for trying new things, but can we just admit that 30 years is enough of a trial period to conclude that lowering taxes for the wealthy doesn't create jubs?
Except that it is obvious from a decade of Bush tax cuts, that it doesn't "lead to jobs", quite the contrary, unemployment soared to the highest level since the Great Depression. The reason is simple. While the rich did get a lot richer, they didn't invest that extra money in risky job creating businesses, and too often offshored jobs that already existed. Instead, they invested their extra wealth by buying up nice safe Treasury bills, thus financing over 7 trillion dollars of National Debt that the Bush tax cuts (still in effect!) has caused.
In other words, the Bush tax cuts helped the wealthy to literally buy the US for their own profit.
The real solution is simple - increase taxes on the rich sufficient to eliminate the annual deficits. That in turn cuts off the sale of Treasury bonds, forcing the investor class to start investing in job creating businesses, which in turn will reduce unemployment and boost sales to the growing working class. The working class might even make enough to start investing again, which will multiply the beneficial effects.
Oh, but that wouldn't benefit the 1%, which is the only ones the Teapublicans care about.
FACTS: Romney makes a profit and has been successful in business and government.
Government never makes a profit and is $16 Trillion dollars in debt.
Romney has started companies, created jobs, takes "sick companies" and made them healthy and turned them into profit. (HMMMM our Government is sick, spends too much and we need to make it healthy.) Romney makes money for himself and for his investors .... sounds like success to me! Obvioiusly, Romney knows what he is doing. Who would you want taking care of your money, making you money or running your business ... Romney = Profit ... or ... OBAMA/The Government = $16 Trillion in debt ... ? ... DUH!
Obama has never run a company thus never created one job in his life. Prior to becoming President, OBAMA never ran anything substantial in business or government . Yet, the silly, uneducated voted for him. Now, they and our country are paying for it. The only money OBAMA has made was for himself not others. Obama spends money ... Romney makes it. Where has Obama's lack of experience taken the United States? Obama, in three years, has done nothing but spend U.S. Taxpayers money and spent it on the corrupt ... can you say "SOLYNDRA"!!! With OBAMA we are $16 Trillion in debt. In three years Obama has spent and accumulated more debt than "W" Bush did in 8 years.
* OBAMA first three years increased the national debt by almost ... $5 Trillion.
* George W. Bush first three years increased the national debt by a $1.9 Trillion ... 8 years ... $5 Trillion.
OBAMA's Unemployment for three years reached almost 10%.
Bush unemployment average Just over 5%! It is now official ... We miss you George W!
Need I write more? No need to ... but I will!
OBAMA has lost 1.6 million jobs net. OBAMA, the Left, Liberals, Democrats, Media and Hollywood are for these principles ... Perversion (Gay marriage ... remember unless raped, every person who has sex ... chooses who to have sex with ... thus ... "being gay is a choice" ... plain and simple just the facts Ma'am ... no questions asked), the murdering of innocent babies via abortion and taking God out of our government and our country.
Romney is looking mighty good. Now you know why liberals, democrats, Media, Hollywood and Perverts are are afraid of Romney, hating on Romney and trying to prevent Romney from becoming President.
Now let me get this straight, the Liberals, Democrats, Media, Hollywood and Perverts are trying to convince America that Romney, a successful businessman and politician who knows how to make a profit and run things is really evil and that America should not want Romney taking care of our money and making us a profit!
On the other hand ... ROTFL ... the Liberals, Democrats, Media, Hollywood and Perverts are trying to convince America that OBAMA ... ROTFL ... who has put American drastically deeper in debt with a National Debt of $16 Trillion dollars, invests in corrupt bussinesses, lost 1.6 million jobs, unemployment is 8.5% and is for perversion - gay marriage, murdering of innocent babies via abortion and trying to take God out of government is really the good guy ... ROTFL ... but, things are looking better! ROTFL ... DUH! Need I write more.
Not only is Mitt a vulture capitalist (albeit maybe not the worst of the vulture capitalists) but when asked if he thought people were just jealous of him or if they thought capitalism had gotten too greedy and needed to be restrained, Mitt's unbelievably ignorant answer was , "he thought the people were just jealous of him for being rich"... WOW what an arrogant and politically stupid anwser. True he answered honestly that he thinks people are just jealous and that is why they are in an uproar. Only those whose god has become Mammon would think this way. He is like the naked emperor with no clothes who is too blind to see his own nakedness. Real Christians see the spiritual side of what they do for a living and would know we are not jealous of a rich person who made his money stealing off the backs of thousands of workers he layed off in his desire to scam companies so he and his partner could get rich leaving thousand without jobs as well as loss of pension funds that you and I the taxpayer had to pay. He can have all the money he scammed because you cannot spend it in the netherworld anyway. This is why Jesus said it is harder for a rich man to enter heaven than for a camel to get through an eye of a needle. The blind are delusionally blinded by their greed. ALL PE firms are vulture capitalists and it is the greedy unrestrained capitalism that is the beast that needs to be restrained - not necessarily less government per se but getting rid of the scammers whose lobbying has given them free rein to legally steal our jobs, our livihoods, and our retirements. This is the beast. Just because what he did was legal on a worldly level, it is definitly not legal in God's realm.
Sarah Palin ask Romney to release the records from Bain Capital!! I agree Mrs. Palin!!
I don't think the records from Bain Capital are Mitt's to release.
Then Romney's in trouble!! He has to prove he created jobs in the private sector and this is the only way it can be done! He can not run on his Governor's record, because he only created 3,964 jobs in 4 years!
As a starter...his income tax filings over the last ten years might be helpful...or even the last five.
But, Palin has him on this. HE, ran on being able to create jobs. When his fellow Republican candidates pointed out that he hadn't done a good job of that as Governor, HE turned to his experience at Bain...NOT his attackers.
Palin - and others - are now simply saying: "Put up or shut up."
They (the old line republicans) are in panic and trying to eliminate Romney because his candidacy could spotlight the whole venture capitalist ruse that's been very very good to the 1%. Not to mention that they already assume that he would lose to Obama for a myriad of reason including his faith and the possibility of Ron Paul sucking off conservative votes as a third party candidate.
Who would they put in place that could reasonably challenge Obama? Jeb Bush as a write-in? Think about it.