Skip to comments.Romney's past is more a working class zero
Posted on 03/01/2011 4:59:36 PM PST by Leisler
In August 2002, Dade filed for bankruptcy. This was not an isolated case.
* 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.
While I have not investigated all of Romney's Bain investments and there may be cases where he made money and improved businesses, there's little question he made a fortune from businesses he helped destroy.
(Excerpt) Read more at nypost.com ...
Friday, November 30, 2007
HUNTER AGAIN CALLS ON ROMNEY TO OPPOSE BAIN PARTNERSHIP WITH CHINESE COMPANY
FOR IMMEDIATE RELEASE: November 30, 2007
CONTACT: Gary Becks (619) 334-1655, dlhunter08 (at) yahoo.com
Columbia , SC â At a press conference held at the South Carolina State Capitol today, Presidential candidate and U.S. Congressman Duncan Hunter (R-CA) again called on Bain Capital, a company founded by former Massachusetts Governor Mitt Romney, to drop its strategic partnership with Chinese defense contractor Huawei Technologies in a bid to buy U.S. defense contractor 3Com. Hunter also called on Romney to use his continued influence with Bain to terminate the proposed merger between Huawei and 3Com, which, according to a report in today’s Washington Times, would threaten U.S. national security.
“As the founder of Bain Capital, Governor Romney has an obligation to utilize his influence within the company to terminate the proposed merger between 3Com and Chinese defense contractor Huawei,” said Hunter. “In light of China ‘s refusal to port several American naval vessels last week, it is increasingly more important that American military technology be protected from foreign companies, such as Huawei, that are closely aligned with the Chinese government.”
The Washington Times reported today that U.S. intelligence agencies informed the CFIUS review committee, responsible for examining proposed foreign investment transactions, that a merger between 3Com and Huawei would threaten America ‘s national security. 3Com presently performs vital cyber-security work for the Department of Defense.
“This proposed deal, which Governor Romney can work to terminate should he choose to do so, is unpatriotic and damaging to national security,” continued Hunter. As further detailed in a resolution introduced in the House of Representatives, Huawei has close ties to the military of Communist China and allegedly aided Saddam Hussein and the Taliban.
Earlier this month, Hunter sent a letter to Governor Romney requesting that he use his influence as the founder of Bain to terminate the company’s partnership with Huawei, including the proposed merger with 3Com. Hunter, who is ranking Republican on the House Armed Services Committee, has not received a response to the letter
If the GOP appoints him....we will see more of the same...IMO.
"As U.S. real output grew 13 percent between 2002 and 2006, Massachusetts trailed at 9 percent.
* Manufacturing employment fell 7 percent nationwide those years, but sank 14 percent under Romney, placing Massachusetts 48th among the states.
* Between fall 2003 and autumn 2006, U.S. job growth averaged 5.4 percent, nearly three times Massachusetts' anemic 1.9 percent pace.
* While 8 million Americans over age 16 found work between 2002 and 2006, the number of employed Massachusetts residents actually declined by 8,500 during those years.
"Massachusetts was the only state to have failed to post any gain in its pool of employed residents," professors Sum and McLaughlin concluded.
In an April 2003 meeting with the Massachusetts congressional delegation in Washington, Romney failed to endorse President Bush's $726 billion tax-cut proposal."
[Cato Institute annual Fiscal Policy Report Card - America's Governors, 2004.]
The Massachusetts Republican Party died last Tuesday.
The cause of death: failed leadership.
The party is survived by a few leftover legislators
and a handful of county officials and grassroots activists
who have been ignored for years.
Services will be public and a mass exodus of taxpayers will follow.
In lieu of flowers, send messages to Republican voters
warning them about a certain presidential candidate named Romney.
- Boston Herald, 11/12/2006
"In 2006, while Romney was chairman of the National Republican
Governors Association - a group dedicated to electing more
Republican governors - his own hand-picked Republican successor
as governor lost badly to the Democrat, despite the fact that Republicans
have held the governorship in Massachusetts since 1990. Romney largely
ignored the Massachusetts elections and spent most of the time
during the campaign out of state building his presidential campaign.
He came back and publicly campaigned for the Republican candidate
the day before the general election!
Locally, this is a rebuke to Mitt Romney and checking out within six months
after being elected and having accomplished almost nothing,
[Jim] Rappaport [former chairman of the state Republican Party]."
- Boston Globe, 11/8/2006
"Governor Mitt Romney, who touts his conservative credentials to out-of-state Republicans,
has passed over GOP lawyers for three-quarters of the 36 judicial vacancies he has faced,
instead tapping registered Democrats or independents -- including two gay lawyers who
have supported expanded same-sex rights, a Globe review of the nominations has found.
Of the 36 people Romney named to be judges or clerk magistrates, 23 are either registered Democrats
or unenrolled voters who have made multiple contributions to Democratic politicians
or who voted in Democratic primaries, state and local records show.
In all, he has nominated nine registered Republicans, 13 unenrolled voters,
and 14 registered Democrats."
- Boston Globe 7/25/2005
Romney Rewards one of the State's Leading Anti-Marriage Attorneys by Making him a Judge
Romney told the U.S. Senate on June 22, 2004, that the "real threat to the States is not the
constitutional amendment process, in which the states participate,
but activist judges who disregard the law and redefine marriage . . ."
Romney sounds tough but yet he had no qualms advancing the legal career of one
of the leading anti-marriage attorneys. He nominated Stephen Abany to a District Court.
Abany has been a key player in the Massachusetts Lesbian and Gay Bar Association which,
in its own words, is "dedicated to ensuring that the Massachusetts Supreme Judicial Court decision
on marriage equality is upheld, and that any anti-gay amendment or legislation is defeated."
- U.S. Senate testimony by Gov. Mitt Romney, 6/22/2004 P>
"Romney announces he won't fill judicial vacancies before term ends
Despite his rhetoric about judicial activism, Romney announced that
he won't fill all the remaining vacancies during his term - but instead
leave them for his liberal Democrat successor!
Governor Mitt Romney pledged yesterday not to make a flurry of lame-duck
judicial appointments in the final days of his administration . . . David Yas,
editor of Lawyers Weekly, said Romney is "bucking tradition" by resisting the urge to
fill all remaining judgeships. "It is a tradition for governors to use that power to appoint judges
aggressively in the waning moments of their administration," Yas said.
He added that Romney has been criticized for failing to make judicial appointments.
"The legal community has consistently criticized him for not filling open seats quickly enough
and being a little too painstaking in the process and being dismissive of the input of the
Judicial Nominating Commission," Yas said.
- Boston Globe 11/2/2006
Romney is a socialist, he makes the current Dem gov’ner of MA look good. Romney signed into law, this horrible MA health tax (aka Obamacare) and allowed gay marriage. Neither one was put to a vote - he just rammed it down our throats...remind you of anyone???
based on his history it look like his strategy have been to go for short term gain at the expense of long term pain.
So if he was president, will will try put all US debt on short term paper at low interest to reduce the deficit, at the cost of having to pay much higher interest into the future when he’s out of office
I fear Mittster will get his boost from crossover Dems in open primary states.
Their version of Op Chaos.
They know it will trigger a Tea Party challenger and a potential Clintonian plurality win for Baraq.
The talking points last time around were that he was a highly successful businessman, and that he saved to Salt Lake City Olympics.
But didn’t he “save” the Olympics by scarfing up a truckload of federal tax dollars?
And this is why the Dems want Romney. They will destroy him.
Not only that, but he scarfed up nearly the state budget of the entire state of Utah.
I’m in S. Utah and only in the last few years are we getting some of our hard earned tax dollars back in the form of infrastructure, etc. The SLC Olympics robbed the rest of the state.