the corporate raider

Newsonline: ….Mitt Romney is promoting his private-sector business experience to show he could do better than U.S. President Obama in creating jobs. But opponents will find fault in his record as a corporate raider in the 1980s and as Massachusetts governor when his performance on employment was mixed at best.

Romney stressed his experience as head of private equity firm Bain Capital … He made a fortune wheeling and dealing in companies, some of which endured big job cuts as part of restructuring. Some ultimately went bankrupt.

“He was a corporate raider who often made companies profitable, not by helping them perform better – but by simply laying off employees and killing jobs,” said Ray Buckley, Democratic Party chairman of New Hampshire.

Bain Capital, which Romney headed for more than a decade, specialized in leveraged buyouts: buying companies with money borrowed against their assets, grooming them to be sold off, and in the interim collecting huge fees.

Later, as Massachusetts governor from Jan. 2003 to Jan. 2007, Romney presided over one of the puniest rates of employment growth among the 50 U.S. states, at a time the nation’s economy was booming. Labor Department figures showed Massachusetts ranked 47th in the rate of jobs growth in those four years.

More here

Thank you Proud 😉

I read a more detailed piece about Romney’s dire record on jobs a while ago, will try to find it

9 Responses to “the corporate raider”

  1. 1 PoliticalJunkessa
    June 2, 2011 at 9:53 am

    This perpetual candidate will never be president. He needs to find another gig.

  2. 2 Andogriff
    June 2, 2011 at 10:01 am

    Amen, PJ… this man is a total loser. I only hope the easily-brainwashed American public can see the “real” Mitt (if there is one) in time.

  3. 3 Debz
    June 2, 2011 at 10:16 am

    Other than a stint as governor, what has this man ever done? He hasn’t been in any elected position, and it seems he’s nothing but a professional presidential candidate. No one will be fooled by him. And just my personal feeling, he reminds me of a 70’s lounge lizard, he makes my skin crawl!

    • 4 Proud of Obama
      June 2, 2011 at 10:19 am

      Debz, he does remind you of a 70s lounge lizard. That is hilarious. Did you see his interview on ABC where he was wearing a plaid shirt trying to be “every ordinary man?” Gross. What a phony.

  4. 6 Fred
    June 2, 2011 at 10:50 am

    Mitt is nothing but a prettier version of Pinocchio

    • 7 utaustinliberal
      June 2, 2011 at 3:21 pm

      He really is a version of Pinocchio but at least Pinocchio had passion, and LIFE. Romney always looks so awkward. I walked in on his “announcement” that he’s running in 2012 and he just kept yammering crap, crap, crap. Everytime he touts his business experience or job creation as Gov. of Massachusetts; I see a liar. Crying out loud his state was ranked 47th in job creation. If that’s experience, count me out.

  5. 8 Carolyn
    June 2, 2011 at 11:05 am

    I’ve frequently called him a Ken doll….he has all the animation and depth of one. However, I really like Lounge Lizard!

  6. 9 Sonjia Duncan
    June 2, 2011 at 11:11 am

    I remember the good old days of the 1980’s when most of our great publishing houses with it’s good paying jobs disappeared.

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