...After graduating from Brigham Young University (click title to entry - thank you) in 1971, he earned dual degrees from Harvard Law and Harvard Business School. After working as a business consultant for several years, Mitt founded the investment firm Bain Capital in 1984. Under his leadership, Bain Capital helped to launch or rebuild hundreds of companies, including household names such as Staples, Bright Horizons, and The Sports Authority. As Bain Capital was growing in prominence, Mitt returned to his old consulting firm, Bain & Company, as CEO. In a time of financial turmoil at the company, he led a successful turnaround.
I understand Mayor Booker's frustration with the negative campaign existing this season. But, let me point to 'the truth' of Romney's record he is skating on. The Obama Campaign has to address his years as a CEO at Bain. The above paragraph is from Romney's bio page.
On that page he tries to build sympathy for himself as someone that has faced adversity. Life has that characteristic, but, his wealth has made personal adversity easier than most Americans face in their lives. To the average Middle Class citizen life is difficult and adversity is a mountain to climb, not simply a challenge. As example, I point to the very dysfunctional health care system President Obama took on and succeeded in passing a comprehensive initiative that will provide more Americans health benefits than ever before in history.
But, Mr. Romney has worded his government work as a one term Governor is a most interesting way. Below are Romney's words, not mine.
...When Mitt was elected Governor of Massachusetts in 2002, the state was in severe disarray, its budget was out of balance, spending was soaring, and taxpayers were being required to pay more and more in taxes for diminishing services. The state economy was in a tailspin, with businesses cutting back on investment or even closing and unemployment ticking up. Mitt made hard decisions that brought state spending under control. He restructured and consolidated government programs, paring back where necessary and finding efficiencies throughout....
Rehabilitation of a 'government structure' in disarray inappropriately asking for more money to balance it's budget is very different; very, very different, than what Americans face today. Bureaucratic inefficiency is far easier to fix and reduce taxes with more efficiencies than REBUILDING an economy left in the wake of a global economic collapse. Mitt Romney is not qualified for the Presidency of the USA. He has been a man that has sought wealth over employment of citizens. Thinning the economic growth of the USA by supposed inefficiences would make the economic depression longer and would unquestionably remove potential for growth in a way that may permanently disable aspect of the current economy.
Pipelines are not going to solve the USA energy needs and that is a waste of time. The country's focus belongs on securing its food supply as a national security priority and that means preventing contamination by the petroleum industry of land and water. Contamination of food and water is viewed as a minor inconvenience while profits are suppose to be untouched by careless industry practices. Romney gave no credence to closing down companies that would ultimately produce less profit than if they were destroyed and sold.
There is an incorrect way of looking at venture capitalists and Romney is very guilty of it.
There was a time in the USA when MERGER meant expansion of already existing success. One of the best examples is the history in North Carolina of the famous railroads. It was a heyday for the industry.
There were other rails working in the country and eventually the Wilmington-Weldon Line MERGED with Seaboard Air Line Railroad.
The map to the left is a historic map of the SALR. (click here)
The merger of the two rail lines was called Seaboard Coast Line Railroad. The merger connected two of the greatest railroads of the time. Eventually, the passenger service will suffer great blows because of personal transportation by a fellow named, Henry Ford.
But, the point is mergers are not about a company failing necessarily, so much as it is about companies with sincere viability and finding the best advantage for the new company to succeed.
Mergers are suppose to be about potential, success and expansion, not about assessment of assets and how best to 'make a buck.'
I have thought about the steel industry in the USA and how it literally disappeared as if it was outdated in a way the passenger train was replaced with cars and roads. It should have never have happened and Romney at Bain literally imploded a piece of that industry into the dust. It was wrong then and it is wrong today.
Companies sometimes have to be restructured to be less top heavy in administration and for that reason much middle management is reduced when mergers occur, but, at the very heart of the company are the employees. They are experienced in producing a product and I don't ever recall in the USA when employees were willing to turn out junk for a paycheck knowing their community would find them laughable.
American steel was and is the best in the world. It should never have been turned to dust and abandoned. When that occurs it is not unlawful, but, it is highly immoral with dire consequences to the American economy. I don't want a CEO in the White House. I especially don't want a CEO in the White House that has destroyed valuable American jobs belonging to an industry made to disappear in the USA while it weakened our national security.
While Mayor Booker wants a seriousness from the Obama Campaign, he may not realize he is actually getting it.
