Posted on 01/10/2012 8:56:32 AM PST by Laissez-faire capitalist
In the Republican presidential candidate debates this weekend, Mitt Romney repeated his claim that he is an effective leader who created a "net net" of 100,000 jobs while he was working in the private sector. But three recent reports, by the Los Angeles Times, the Associated Press and by Fact Check.org, the nonprofit nonpartisan project run by the Annenberg Public Policy Center at the University of Pennsylvania say that the Romney campaign has yet to offer convincing proof to back up the claim.
... It hardly seems plausible to suggest that he created the positions that make up the current head counts at those companies.
... As Fact Check points out, Bain was not the sole investor or creator of those companies.
... Then there are the job losses at the many companies Bain acquired. During Romney's tenure, Bain bought more than 115 companies, according to the Deutsche Bank document. Like other leveraged buyout firms, reports the Times, Bain often made money by laying off employees, getting government subsidies, or re-selling companies quicklyy for a profit.
... Of the top ten investments Bain made under Romney, reports the Times, four declared bankruptcy within a few years of Bain's involvement "shedding thousands of jobs."
...
(Excerpt) Read more at forbes.com ...
Fuzzy jobs. Fuzzy claims. Fuzzy job creation.
His company is looking more and more like one of those firms that would buy other companies, slice and dice, sell and close and come away with a nice profit.
I’m not “anti-rich” but that is one thing I’ve always hated.
I heard “Joe Isuzu” Romney in the debate Saturday that he was “a numbers man”. I sure would like to see the numbers.
“Game Changer” Report: The 100,000 American Jobs Romney Says He Created Were All Created In Foreign Countries – With Video”
Will Romney try to use a red herring and attack the messengers instead of the message?
Romney made the claim of 100,000 jobs, so the onus of proof is therefore upon him to prove it.
This is his calling card...
Whatever number anyone comes up with will be bigger than the number Obama “created”.
He did create 100,000 jobs. That was the needed workforce to clean up the bullsh** spewing out of his mouth.
Given Romney’s record, then, according to you, Gingrich would be better than Romney?
Perhaps Santorum?
Both are better.
Either way, we don’t have to have Romney to create jobs.
Governor Willard “47th in Jobs” Flopney caught in more lies about Bain, the house of pain.
These kind of government subsidies?
Regarding Bain's takeover of Worldwide Grinding Systems steel mill in KC.
What's more, a federal government insurance agency had to pony up $44 million to bail out the company's underfunded pension plan.
I can name two dozen major problems with Romney, but his business experience is not one of them. Bain helped build some magnificent brands and helped turn around some failing companies. This is the one feather in Romney’s cap, in my opinion. He knows how business works.
The leveraged buyout business is simply “house flipping” with businesses instead of houses.
The goal isn’t to improve the company. The goal is to do whatever it takes to resell the company in the shortest time possible for the most money.
Perfectly healthy companies are often targeted for a leveraged buyout, simply because someone believes they can reorganize the company to make their SHORT TERM BOTTOM LINE look better, and thus make a quick resell for a quick profit.
The reason so many companies in the 80s and 90s abandoned long term thinking a focused so much on the short term, is that long term thinking made them vulnerable to a leverage buyout.
Romney was a “turn around expert”, but in this instance we’re not talking about turning around sick companies into healthy ones. We’re talking about turning around a purchase for a quick sale.
Romney’s expertise isn’t in building businesses. It’s in buying and selling businesses. In that regard, it’s much closer to being an expert in real estate than in business managemen.
Nice, unsubstantiated retort to bolster Romney.
We cannot stay with Obama, Emperor Romney has no clothes, so we must go with another GOP candidate.
Go for it! Principles, right?
Romney bragging about his ‘private sector jobs creation’ record isn’t too smart considering his similar role in job destruction layoffs. He needs to show us how many ‘net’ jobs were created if that is what he wants to run on.
I figure his jobs accounting is much like the Obama/CBO for the Stimulus.
Bain, the house of pain
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Actually that would be
Bain, the house of porn
I agree with what you said in that post. And it demonstrates one of the main problems with a Romney nomination. Can you imagine, as OWS II gets under way this spring and summer, how that will play in the Obama controlled MSM?
Especially as more and more people are laid off from large companies and unemployment continues to climb (bogus stats notwithstanding).
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