I have run a company for 30 years and when you have hard times you make hard decisions. My company tried to hang on for a long time before I finally decided it was time to downsize. I had to lay off folks I cared about. I had to downsize offices or completely close them. Did I like it? NO. But I had to do it to survive and save my company. Am I a greedy SOB like Newt portrays me? I pray not. I supported many families over the years; trained folks with new skills; paid by taxes and raised a family.
As a result of trying to keep from laying off people I wound up with a Loss Carry Forward to a couple of Million Dollars. Is this another way of saying I got a credit from the Government? That other taxpayers paid for my survival mode?
Have you ever owned a small or mid-sized company? If not, then you have no idea of how complicated economics can get. Life is not a bowl of cherries. It’s hard work, hard times and hard decisions you make over a lifetime.
The ad can run but it has a lot of inuendos in it. I suspect that is why Kennedy didn’t run it.
During the 1990’s the Wall Street Journal was full of articles regarding the controversial actions of such raiders. The pensions had grown so much due to the successful stock market and economy, that raiders targeted firms with these pensions.
There were hostile takeovers with leveraged funds. Once the take over was completed, the raiders took the pension funds and paid off the loan. Stripped the companies of all assets for their own pockets, and left everyone else the loser.
That is definitely not what you were doing. Big difference between rightsizing your company due to tough economic times and what corporate raiders do.
You have twenty years on me. I’ve been running my business for ten.
Prior to that I worked in the telecom and financial businesses. In each I managed through recessions and mergers. I had one afternoon where I had to call in a department, one by one, and lay them off. And it was the department I started with out of college. I laid off half a dozen guys I knew better than members of my family. It was horrible.
But Mitt was the worst kind of turn around guy. He did not show up to “help.”. He showed up with his consultant buddies, and tore and ripped until the company was completely squeezed. Now some places survive that. Most don’t.
As a governor he was more interested in running for President he was gone most of the time.
Hate doesn’t begin to describe what I feel for this empty suit rich kid.