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?