Tuesday, May 22, 2012

Mitt Romney & Bain Capital

Socialist President Obama ran for President in 2008 with no business and little government experience.   Prior to becoming President, Obama was a Community Organizer (translation local rabble rouser), a law professor and an elected state and federal official for a very short time.   Clearly, by any standard, Obama was not qualified to be a senior manager at a small company, let alone President of the United States and we see the end result in his failed Presidency.   So now, we have both President Obama and Vice President Joe Biden on the campaign trail attacking Mitt Romney for his years as co-founder and CEO of Bain Capital.  Go figure.  

The fact is that in addition to serving as Governor of Massachusetts, an executive position, Mitt Romney spent years running Bain Capital, a very successful, private equity firm.   Even before we talk about Bain's investments that did create thousand of jobs, Romney worked with others in management to create a good sized firm from scratch.  As a global business owner for more than 22 years, who worked with my management team to do the same thing, this Blogger fully understands what it takes to make payroll every two weeks and to make the hard decisions necessary to insure the survival of my company.   To be sure, Mitt Romney made payroll and hard decisions on a daily basis to insure the success of Bain Capital, something both Obama and Biden never did prior to being elected as President and Vice President.     

Next, we know now that Bain Capital succeeded in about 80% of investments to establish, or provide funding for firms that are still in business today.   About 20% of the firms Bain invested in went out of business, or were sold off, which no doubt resulted in lay off's.  This is a very good record of success and an example of the creative destruction that is inherent in a free market, capitalist system.   But, does anyone really believe that Bain made investments with the clear intention of closing down companies and laying off their employees.   That is a ridiculous assertion.   Bain was in the business of investing their clients' funds to make money.   The best way to do that was to invest in winners that resulted in creating jobs; though job creation is a side benefit of this process.  The real goal of any venture capital company is to create profitable companies for the benefit of those risking their money.   Bain did just that and many times. 

So now, we have Socialist President Obama, who has no real work experience and Vice President Joe Biden, who has been feeding at the trough for more than 35 years as an elected official living off the fat of the land, criticizing Mitt Romney for his business experience and years of working in the real world.   We have reached ridiculous.  Obamanistas are going down this road because Obama has been a miserable failure as President and the numbers prove it.   Since Obama took office:  Highest foreclosure rate in American History.  $16 Trillion National Debt and growing with no end in sight.  $5 Trillion of it added by Obama in his first term in office.  25 million Americans either unemployed, under employed working part time that want full time work, or that have just given up looking for work altogether.   46 million Americans on Food Stamps, up 26 million since Obama was elected.   2% or less dismal GDP growth.   Price of gas double what it was when Obama took office.  Poverty rate is up to the highest rate in years.   This is Obama's record.  No wonder, Obamanistas don't want to talk about it.  

Mitt Romney should go on the offensive.  Romney does not need to apologize for being rich, or for his success.   We need more entrepreneurs, just like Mitt Romney, willing to risk it all to create economic growth and jobs again in America.  Mitt Romney should be very proud of his accomplishments.   Romney is a good man with solid values and a great family, who has worked hard his whole life to achieve success.  We need to make Mitt Romney the next President of the United States to get our country back on track because he has the experience to get the job done.   We can do it.  We must do it to preserve our freedom, our nation and way of life for the sake of our children and grandchildren.   Don't let Obamanistas play their propaganda game of sleazy Class Warfare and character assassination.   When you see or hear Obama's message, get out your check book, or go on Romney's website and give to Mitt Romney to help him make Obama a one term President in 2012.  Our country depends on it.   

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