So Did Romney Create 100,000 Jobs, Or Not? ("campaign has yet to provide convincing proof"

Forbes ^ | 1/9/2012 | Susan Adams

[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."

...

[Diogenesis]

---

Romney's VULTURE CAPITALISM makes Obama's MARXISM MOOT.
THAT is why the DNC wants him.

Romney makes Obama's liberalism MOOT.
THAT is why the DNC wants him.

Romney makes Obama's ineligibility MOOT.
THAT is why the DNC wants him.

Romney makes Obama's ObamaCARE/RomneyCARE MOOT.
THAT is why the DNC wants him.

Romney makes Obama's IAG issues MOOT.
THAT is why the DNC wants him.

Romney makes Obama's Sharia issues MOOT.
THAT is why the DNC wants him.

Romney makes Obama's 911 Victory Mosque MOOT.
THAT is why the DNC wants him.

Romney makes Obama's RomneyMarriage/Gay Marriage issue MOOT.
THAT is why the DNC wants him.

Romney makes Obama's bad governmental history MOOT.
THAT is why the DNC wants him.

Romney makes Obama's AGW issue MOOT.
THAT is why the DNC wants him.

Romney makes Obama's liberal judge issue MOOT.
THAT is why the DNC wants him.

Romney makes Obama's ineptitude MOOT.
THAT is why the DNC wants him.

Romney has a history of the BIG DIG and its coverup.
THAT is why the DNC wants him.

Romney has a history of destroying the Mass. Constitution which makes Obama’s overturning the US Constitution MOOT.
THAT is why the DNC wants him.

Romney makes Obama's lying as an issue MOOT.
THAT is why the DNC wants him.

Romney has a history of backstabbing the GOP, itself, and is hated widely.
THAT is why the DNC wants him.

Romney has a history of narcissism which make Obama’s MOOT.
THAT is why the DNC wants him.

Romney has a history of destroying evidence while Governor, which makes Obama’s destruction of evidence also MOOT.
THAT is why the DNC wants him.

[IM2MAD]

How many of those 100,000 jobs were in teh U.S. and how many went overseas?

[slackerjack]

Totally agree with you. The lack of basic understanding of capital markets displayed by some of the commentators here is truly staggering.
These were sick, failing companies that were hemorrhaging money. Private equity firms are typically the last shot before a company files for bankruptcy, where there is a zero percent success rate.
Bain is like a doctor treating a cancer patient; it is a minor miracle any of them survived. Don’t blame the doctor because the patient dies.

[Laissez-faire capitalist]

Sweeping generalization.

[BilLies]

Also read:

http://blog.american.com/2012/01/romney-doesnt-need-to-apologize-for-his-bain-career/

Most of comments here sound like they emanate from the tents of the Wall Street Occupiers or Ron Paul, same thing, except the Occupiers are liars and hypocrites and Paul is belongs on George Noory’s Wacko to Wacko radio show.

[Recovering_Democrat]

Even if he created ONE job, it would be a better record than Hussein.

[CainConservative]

In October 1993, Bain Capital, co-founded by Mitt Romney, became majority shareholder in a steel mill that had been operating since 1888.

Less than a decade later, the mill was padlocked and some 750 people lost their jobs.

Workers were denied the severance pay and health insurance they’d been promised, and their pension benefits were cut by as much as $400 a month.

What’s more, a federal government insurance agency had to pony up $44 million to bail out the company’s underfunded pension plan.

Nevertheless, Bain profited on the deal, receiving $12 million on its $8 million initial investment and at least $4.5 million in consulting fees.

http://legalinsurrection.com/2012/01/bain-drip-drip-drip/

Why do we taxpayers have to bail out Willard’s greed?

[chainsaw]

Even 100,000 jobs is a pitiful amount with 13+ Million out of work, and obama sending a half million more home from the military, where there are no jobs to be had.

[Recovering_Democrat]

Can we use Democratic Underground as a news source now?

[faucetman]

It was never about saving companies, it was always about making BIG BUCKS.

[Brookhaven]

Romney's VULTURE CAPITALISM makes Obama's MARXISM MOOT.

Vulture Capitalism, I've heard the term before as a reference to the leveraged buyout business. I think you've hit the nail on the head, in that this will be the term the Democrats will use to label Romney.

And, of course, the media will dredge up and highlight the history of the the leveraged buyout phenomenon.

How in the 80s and 90s, there were real efforts legally limit it, because it was causing so much churn and disruption in the economy. And no, it wasn't the left trying to limit it, it was conservative businessmen who realized the problems it caused.

How companies shifted their focus from building businesses over the long term to the short term bottom line, as a way to prevent being the target of a leverage buyout.

How the term "poison pill" came into the business lexicon. Again, another technique used by companies to prevent a leveraged buyout.

And, of course, we'll see the many examples of perfectly healthy, stable, and profitable companies that were taken over, had most of the assets sold off (particularly real estate assets), and the business carved up and sold in pieces to end up as several smaller and less stable companies. All of which made a quick (and big) profit the leveraged-buyout company, but not for the company itself.

Mitt Romney - Vulture Capitalist

If Romney is the most electable, then he needs to demonstrate how he will reply to what will be the obvious attack against him by the Democrats. So fat, his reply has been a big fat goose egg.

Or, should I say vulture egg.

[WellyP]

DC isn’t all that reliable most of the time and must be investigated before it can be belived. This time the numbers are correct.

[Forty-Niner]

“100,000?”

The US needs MILLIONS!

Next!

[WellyP]

http://www.opensecrets.org/news/2011/12/how-much-love-will-contributions-buy.html

“...Three weeks out from the first-in-the-nation Iowa caucuses, 52 sitting members of Congress have endorsed GOP presidential hopeful Mitt Romney. And Romney, through his leadership PACs, has donated to 48 of them, according to research by the Center for Responsive Politics...”

“...Overall, between January 2003 and June 2011, the Center found that Romney has donated a combined total of $1.09 million to 226 current members of Congress, including 195 to whom Gingrich has never donated...”

[WellyP]

http://campaign2012.washingtonexaminer.com/blogs/beltway-confidential/how-much-hill-endorsement-worth/254736

[TheOldLady]

We wish it grew there
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[Reagan69]

The “King of Bain” movie (supposed to be out tomorrow) makes the claim that most of Mitt’s 100,000 jobs created went over seas.

If that is true, not good for Mitt.

Where is he anyway. He never talks to the press. He goes into hiding. He needs to step up to these charges.

[Reagan69]

Totally agree with you. The lack of basic understanding of capital markets displayed by some of the commentators here is truly staggering.
These were sick, failing companies that were hemorrhaging money. Private equity firms are typically the last shot before a company files for bankruptcy, where there is a zero percent success rate.
Bain is like a doctor treating a cancer patient; it is a minor miracle any of them survived. Don’t blame the doctor because the patient dies.

...

...

Not true. Not all of the companies were failing.

[Patton@Bastogne]

.


Newt's criticism about Mitt Romney ISN'T against CAPITALISM ... it's about Mitt Romney's long-standing SEVERE LACK of BASIC HUMAN ETHICS and DECENCY ... all powered by Mitt Romney's GREED, GREED, GREED ...



I'm a proud Tea Party Conservative, Business Owner (Coggeshall Engineering Associates Inc.) and a clear-minded Newt Gingrich supporter ...

I'm sure that Newt (perfectly) AGREES that Mitt Romney had the LEGAL RIGHT to run Bain Capital as he saw fit ... just as Ebeneezer Scrooge had EVERY RIGHT to run his own business ...

After all, Newt Gingrich and I are "dedicated" hard-working capitalists ...



So WHAT (exactly) did Mitt Romney do wrong ?

Just like Ebeneezer Scrooge forced widows and orphans to go "homeless" in the Christmas snow ... because Scrooge was a GREEDY S.O.B. ...

Mitt Romney not only made MILLIONS buying troubled corporations ... but then Mitt's ABSOLUTE FREAKING GREED compelled him to take the "Ebeneezer Scrooge Option" ...

and like the Cold-Hearted S.O.B. Bastard Mitt is ...

FIRE, TERMINATE thousands of (innocent) people (workers) who DID NOT NEED TO BE FIRED AT ALL ...



Why ? Mitt Romney's SATANIC GREED ... Period.

"Gentle and Smiling" Mitt Romney is a Sociopathic GREEDY Bastard ... I'd say more ... but the Admin Moderator is watching ...

How about just that the ONLY difference between an Arrogant Obama and Mitt Romney ... is that Obama is "only" half-white ...



.

[JediJones]

Mitt Romney and 100,000 jobs: an untenable figure

http://www.washingtonpost.com/blogs/fact-checker/post/mitt-romney-and-100000-jobs-an-untenable-figure/2012/01/09/gIQAIoihmP_blog.html