Mitt Romney: Job Creator or Job Destroyer? CrossRoads, posted by Cindy Cross, a resident of the Parkside neighborhood, on May 23, 2012 at 11:59 am Cindy Cross is a member (registered user) of PleasantonWeekly.com
See the Obama ads attacking Romney’s position as job creator at Bain Capital? Obama paints a dismal picture of Romney at Bain Capital as job destroyer. But how accurate are the Obama campaign ads?
Romney points out in nearly every public speaking engagement that he was a ‘job creator’ and successful business man who is more suited in the position of president to jump start our sputtering economy. Romney emphasizes Obama’s lack of experience in business.
Straightforward thinking would presume that the best person suited to take over the helm of the flailing economy would be a seasoned business man; a man who worked on oiling the cogs of the delicate workmanship of business. No doubt Romney has all the experience of running a business and then some, but to whose benefit?
The ultimate goal of any for-profit corporation is to increase the value of its stock. Unfortunately, increasing a company’s stock price in many instances come at the expense of the front-line employees or the consumer. Bain Capital is one such private equity firm that sacrificed the employees of companies to pump life into failing companies, or in many instances—closed their doors permanently.
Romney has used Staples, Sports Authority and Dominos, as examples of how he specifically created jobs while at Bain Capital. But how? The three aforementioned companies employ approximately 112,000 employees. But how many jobs were lost while Romney worked for Bain? Companies such as Ampad, DDi, and KB Toys, companies that Bain took over were liquidated and closed. Thousands lost their jobs as a result. ‘Creative destruction’ is the term Romney used to describe such company take-overs.
“Those of us who believe in free markets and those of us who believe that in fact the whole goal of investment is entrepreneurship and job creation, we find it pretty hard to justify rich people figuring out clever legal ways to loot a company, leaving behind 1,700 families without a job.” — Newt Gingrich talking about Mitt Romney.
Businessmen at the top of the food chain, as Romney was as CEO at Bain, look out for those at the top and the investors. Who’s looking after middle management, and the front-line employees? In other words, will Romney care about the middle class or lower classes in America? Will he take stock in the fact that the middle class is shrinking as the lower class is expanding? Or is the upper class his main concern? Will he run the country as he did Bain Capital and focus on the success of the few at the top?
Romney could come through on his promise to run the country with ‘less government’; ridding the country of wasteful government spending. He could come in as president and begin cleaning house as a new and hopeful business leader. Maybe this is what America needs. Or is it?
Posted by Brandt, a resident of the Bridle Creek neighborhood, on May 23, 2012 at 2:52 pm
Romney is a Vampire in Mormon Clothing… under his leadership, Bain gutted companies, sucking them dry and leaving families in shambles without work or a means to provide for their children. Is this the type of leader we want? Read more about the role of Romney’s blood money in this election and the power of his sacred undergarments at Web Link
Posted by Economic knowledge, a resident of the Another Pleasanton neighborhood neighborhood, on May 23, 2012 at 8:02 pm
Well, it looks like the gullible have been listening to the ignorant and uninformed.
First, let's start with a college grad (however records are kept secret). From there to a community organizer. Won an election over a carpetbagger that came into a district. From then on, like the lack of college records, simply voted 'present' to avoid being 'on the record' on anything...a blank slate.(less to disagreed that way). Then campaigned for President! All within a few years.... quick before there's any record to question. Politically ignorant teachers brainwashed children to convince parents to follow. The adults surrendered their experienced brains to their non-voting age kids...like sheep. The first presidential campaign with social media, and with no rational, an all too fast phenom happened.
Nothing's like starting at the top, rather than wasting time gathering experiences. The new president, had never actually had a real-life job. Being totally tone-deaf, made a decision to focus on a campaign promise, rather than the crisis before him. Choosing instead, to focus on creating a medical plan for a few, but changing medical care for the entire country. Valuable time was lost that could never be recaptured. ALL that fiddling while the country was burning.
The author above feigns concern over middle-class, the very middle-class who were losing jobs every hour of every day, while the new President was losing valuable time by ignoring all the little and middle sized companies, who were laying off masses of thos little and middle. That MOST critical time for the nation was lost, as all focus was on the new health care project. Companies across the country were closing their doors...called 'shuttering'. That 'lost' momentum was critical and we sank deeper and deeper. Most who didn't lose jobs, were put on reduced, cut, 'furloughed' pay. All the while with every pay cut or job loss, meant another home forclosed. I'm sure Ms Cindy felt great sympathy for those suffering, I know I did, being part of the suffering.
Community organizing doesn't teach those involved how 'money' works, and how that cycle of 'money' creates a vibrant economy or a collapsing economy. Every day for 3 1/2 years I have wished my candidate Romney had won in '08. I have desperately wanted a president who has a working knowledge of, and experience with money and economics, which I think is a requirement for being a good president...Somebody who understands the risks small and mid-sized
entrepreneurs face, and having to close.
Most truly successful people have learned with years of good, bad, and so-so experiences...can't learn from a 'blank slate'. And I think we are wiser people today. For me, I always choose to follow successful people. It just seems the wisest course.
Posted by Jim, a resident of the Castlewood neighborhood, on May 23, 2012 at 11:09 pm
A Wall Street Journal analysis of Bain under Romney leadership revealed about 78% of businesses invested in were successful adding over 100,000 jobs and 22% did not succeed and lost around 30,000 jobs. Obama ad focuses on a Kansas City steel company that went into bankrupcy several years after Romney left Bain. Democrats like Newark Mayor Cory Booker; Massachusetts Governor Patrick; former Pennsylvania Governor Rendell all have expressed positive views about Bain. Why can't Obama spend his time defending his own record in office and speaking about the future? With the economy in the forefront, Romney's 25 years as a business leader compares favorably to Obama who has zero private sector experience.
Posted by Republican Bob, a resident of the Birdland neighborhood, on May 23, 2012 at 11:17 pm
Yes, the successes of Bernie Madoff, the folks that gave us Enron, and of course all the virtuous Wall Streeters who saved us from the great recession have had much more private sector experience than Obama. Any of them would make a better president. Romney even more so. He got all kinds of foreign policy experience when he presided over the olympics and drew all kinds of govt entitlement support to cover up his screw-ups. I like him a lot!
Posted by Economic knowledge, a resident of the Another Pleasanton neighborhood neighborhood, on May 24, 2012 at 8:48 am
Driving on Dublin Blvd going to Sprouts last week, I had a tinge of nostalgia driving past the still vacant 'shuttered' Chevy dealership that had been 'the' GM dealership for decades. Couldn't help but remember how Obama forced closing of dealerships all across the nation. Told to shut their doors immediately..and .to just eat the costs. Winners and LOSERS ! True to Obama's mo, punish the investors. give manufacturing ownership to unions.
Posted by john douglas, a resident of another community, on Jun 7, 2012 at 10:10 pm
To me it is a simple question: "is Romney the answer to getting the economy off life support and getting people back to work?" Bain Capital is a microcosm of our current system that is all about profits and pink slips for American workers. Who manufactures our clothes, appliances, computers and most everything else we consume? China, India, Viet Nam, Bangladesh, and any country willing to enslave their work force in order to maintain high profits for the few and perpetual misery for everyone else. Sure, Romney is the answer, too bad the question is: "What plastic caricature puts a face on the beast of greed is good?"