Romney's record at Bain Capitol: Does it matter?

[nathanm]

Jimmy Carter called it "A Crisis of Confidence" and he hit the nail on the head, though he did not possess the leadership or personality to correct it.  Lack of confidence and uncertainty are emotional factors, and more powerful in an economy than almost any other critical factor.  It requires leadership to change perception.

Great analysis. Romney is effed. He keeps talking doom and gloom and has even used the word "malaise," while Obama is running around the country talking about hopes and dreams and the continued recovery.

[Conan71]

Great analysis. Romney is effed. He keeps talking doom and gloom and has even used the word "malaise," while Obama is running around the country talking about hopes and dreams and the continued recovery.

You suffer from a short memory.  Obama continued to beat on the economy his first 1 1/2 years in office.  He continues to beat on those most capable of creating private sector jobs and wonders why the recovery has been so slow.  He's clueless.

[nathanm]

He continues to beat on those most capable of creating private sector jobs and wonders why the recovery has been so slow.

So you're now left with claiming that businesspeople aren't hiring because their feelings are hurt? How ridiculous can you get? Especially when we've had how many months of job growth despite the continued losses in government jobs dragging down the numbers?

We're not going to see a robust recovery until demand increases. As long as the middle class is worse off financially than it was 30 years ago and continues to be wary of expanding its debt burden, there will be no robust recovery. Germany is presently sliding into recession because of their own refusal to recognize that same dynamic in play in Europe between the various countries.

The shrinking middle class is not the product of some natural force, it is the product of deliberate policy decisions and lobbyist written laws.

[Hoss]

[heironymouspasparagus]

PE just gets a bad wrap because they do the things that the companies should have done. In particular in turnaround cases. They do the things that the company should have been doing on their own to keep the company solvent. I understand it is fun to think that all PE firms are like the dude in Pretty Woman (my wife like's this one so...) that just break up companies and sell them off, not all PE is this way. Although sometimes it is, but only when there is a market for said "parts". Maybe it is better, more efficient, to do it this way. They do shut down some parts of companies, but only because they are costing the company, possibly even the livelihood of the company. I can guarantee you that a PE firm would not shut down profitable business for the fun of it. After all, they are in it to make money. Which apparently, according to Obama is not the way a Pres should think. They need to be figuring out how to loose money.

SWMBO is also a huge fan of Pretty Woman.  Watches it every chance available.


A few years ago, there was a guy called "Chainsaw Al" (Dunlap) who I think must have been the inspiration for the guy in the movie.  The difference being, Richard Gere's character actually had a heart, and Al was just a plain old criminal.  In addition to raping and pillaging companies, he also instigated massive criminal activity at Sunbeam-Oster. 

This is the type view most people get of PE and to lesser degree VC.  But to get the needed makeover, there must be a makeover.

[Conan71]

So you're now left with claiming that businesspeople aren't hiring because their feelings are hurt? How ridiculous can you get? Especially when we've had how many months of job growth despite the continued losses in government jobs dragging down the numbers?

We're not going to see a robust recovery until demand increases. As long as the middle class is worse off financially than it was 30 years ago and continues to be wary of expanding its debt burden, there will be no robust recovery. Germany is presently sliding into recession because of their own refusal to recognize that same dynamic in play in Europe between the various countries.

The shrinking middle class is not the product of some natural force, it is the product of deliberate policy decisions and lobbyist written laws.

Have you missed CEO's explaining that threats of tax increases and Obamacare are weighing heavily on decisions to hire or not to hire?  Business doesn't exist in a vacuum.

[heironymouspasparagus]

I don't think so. . .I'll say it again. . .21 million employees, $15 trillion in debt, and $100 trillion in unfunded liabilities. Sounds like the U.S. could use Bain!

21 million?  Wow, where do you come up with that stuff?

The actual Federal government publishes their personnel data.

http://www.opm.gov/feddata/HistoricalTables/TotalGovernmentSince1962.asp

[heironymouspasparagus]

Have you missed CEO's explaining that threats of tax increases and Obamacare are weighing heavily on decisions to hire or not to hire?  Business doesn't exist in a vacuum.

How can anyone have been operating in the vacuum of wondering about tax increases?  Even the dimmest bulb in the box cannot have missed that taxes will rise.  Must rise.  The deficits must go down for any kind of good economic health and that will not happen with spending cuts alone.

If that has not be already factored in, then the decision makers are incompetent. 

The real reason companies are putting off hiring is that they know that they can push people to work 10, 12, 14 hours a day for extended periods of time.  What has started to happen this year, is that there have become enough alternatives so that people can - and are - leaving those places to go to where they feel they won't be pushed like that.  Of course, after the "honeymoon" period, they too will be pushed to longer hours, but eventually there will be enough alternatives so that it will subside to a more normal 50 hour work week....
 

[AquaMan]

That is hilarious and points out what I wrote month's ago. His business experience isn't really transferable in a public arena or an international arena.

[nathanm]

Have you missed CEO's explaining that threats of tax increases and Obamacare are weighing heavily on decisions to hire or not to hire?  Business doesn't exist in a vacuum.

Yes, actually, I have. There have been a few guys trotted out by the Republicans to make the same stupid claims they've been making for 30 years, but surveys do not show the same concerns.

The top four reasons small businesses are not hiring in the latest Gallup survey:

Don't need any additional employees at this time. (76%)
Worried revenues or sales will not justify new employees (71%)
Worried about the current status of the US economy (66%)
Worried about cash flow or the ability to make payroll (53%)

Health care and regulations (not taxes) are the next two, both below 40%.


If they knew, I suspect "government subsidies for my competitors" would be on the list somewhere also.

[guido911]

FINALLY. Carney explains the Obama distinction between Bain and Solyndra.

Sorry, I meant to add that you needed to hit this first before listening:

[Conan71]

Obama must have taken a hit off that bong.  He seems to forget that Johathan Lavine, one of the directors of Bain helped him raise close to $125K this election.  The president is taking money from vulture capitalists he's demonizing in his ads?  I can't wait to hear the reach-arounds on this one.  Wev?  Nathan? TTC?

I predict it goes back to obscure hits on Mormonism on the internet after the Bain angle completely implodes.

Bain employees may have paid for TV ads bashing the company
Posted by
CNN Senior Congressional Correspondent Dana Bash and CNN Congressional Producer Rebecca Stewart
Washington (CNN) – The Obama ads about Bain Capital, the private equity firm Mitt Romney used to run, are harsh.

"They closed it down. They filed for bankruptcy," said a somber former employee of GST steel in a recent Obama campaign ad.

– Follow the Ticker on Twitter: @PoliticalTicker

"They're like a vampire. They came in and sucked the life out of us," said another worker testimonial.

The irony is that some of the money to pay for these Obama television ads may have come from inside the very company team Obama is demonizing: Bain Capital.

It turns out employees of Bain Capital have given $124,900 in donations to the Obama campaign this election cycle.

Three of those Bain Capital donors – Mark Nunnelly, Stephen Pagluica and Jonathan Lavine – have given $35,800, the maximum amount allowed by law, to President Barack Obama's re-election efforts.

In the case of Lavine – he didn't just write his own check to the president – he's a bundler, someone who also helps the Obama campaign raise money from others.

$124,900 is a good chunk of change from people who work at a company the Obama campaign and its allies, like pro-Obama super PAC Priorities USA, vilify.

"Bain Capital always made money. If we lost, they made money. If we survived they made money. It's as simple as that," said a man standing outside a closed plant, in a Priorities USA television ad.

All of the nearly $125,000 in donations to the Obama campaign from Bain Capital employees were made in 2011 – well before the president's team started accusing Romney of killing jobs while at the venture capital firm.

Still, the Obama campaign told CNN they do not intend to return any campaign cash from Bain Capital employees.

"No one aside from Mitt Romney is running for president highlighting their tenure as a corporate buyout specialist as one of job creation, when in fact, his goal was profit maximization," Obama campaign spokesman Ben LaBolt told CNN.

But it begs the question: isn't it hypocritical for the president to keep campaign cash from employees of a company his campaign goes after as job killers?

Democratic National Committee Chairwoman Debbie Wasserman Schultz answered that question this way: "Accepting a contribution from a particular person involved in venture capital and criticizing Mitt Romney who has made his record as a venture capitalist at Bain the essential focus of his credibility and qualification for being president are completely different things."

CNN put calls into the Bain Capital employees who donated to the president to ask if they will demand their money back. The calls were not returned.

However, a spokesman for Bain Capital said, "We are not a political organization and take no position on any candidate."

"We celebrate the fact that our employees are active in civic affairs and philanthropy across a range of organizations with various policy and political views," said Bain Capital spokesman Alex Stanton.

http://politicalticker.blogs.cnn.com/2012/05/25/bain-employees-may-have-paid-for-tv-ads-bashing-the-company/

[guido911]

I predict it goes back to obscure hits on Mormonism on the internet after the Bain angle completely implodes.

Hope so. Nothing would make me happier than dragging religion into the debate with this guy in Obama's past:

[Teatownclown]

Hope so. Nothing would make me happier than dragging religion into the debate with this guy in Obama's past:

I'll take a Muslim over a Mormon any day.

[guido911]

Figured I put this link to best companies to work for in here...

http://www.businessinsider.com/the-25-best-companies-to-work-for-2012-6#