Obama, using Axelrod Tactics and Alinsky's Rules For Radicals, intends to create the impression that Romney was heartless and even a vampire. See Obama's Dishonest Ads, for how deceptive he is being and the falsehoods Obama is standing behind. The ads say, if you look deeper, alot more about who Obama is, than Romney.
The ads are so grossly deceptive that I question the moral integrity of anyone who would allow their continuance.
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Of course, the intent was not to create jobs at all, but to create successful businesses. Well, those resulted in, as business does, lots and lots of jobs.
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OBAMA ADMINISTRATION DID THE SAME THING WITH GM
If one understands Private Equity 101, Romney simply used excellent business practices to save companies that often were about to go under. Just as Obama's administration had to restructure GM to save it, Romney had to cut jobs, but in so doing he saved the jobs of the remaining people. People accepted it when 14,000 jobs at GM had to be cut, but somehow Obama, seemingly being a hypocrite, seeks to characterize
Romney as heartless, instead of practical and beneficial for the remaining employees.
Nobody likes to make tough decisions, but they can be smart and beneficial in the long term.
SAVING JOBS, GROWING AND HIRING, STARTING AND THEN GROWING = JOBS, RIGHT?
I would say that saving jobs is at least equal to creating jobs, as there would have been zero jobs if the plants went under without the Bain rescue.
And when there were able to grow the companies, more people were hired. Now that seems to be an activity that ended up creating jobs.
And it appears that he helped to start a "chain" reaction of job creation when he helped new start-ups, also risky, like Staples. Of course, he left Bain in 1999, but the companies continued to hire people.
So, wouldn't you say he participated in creating jobs, since they never would have existed if he didn't help create the start-ups?
Of course.
And the fact in the industry is that some companies (20% or more perhaps) just can't be saved. But look at the averages of what Bain did - there must have been alot of successes, too.
NASTY, INTENTIONALLY MISLEADING, BUT DOUBLED DOWN AFTER OWN PARTY CALLED OBAMA ON THE DECEPTIVENESS
Nasty politics is intentionally and grossly misleading the public here, to paint him as heartless. In fact, after all the objections to the falsehoods in his ads, Obama is "doubling down" on the strategy.
One of the things that is ironic is that most events in the ads occurred when Romney wasn't even at the company. Some Obama campaign incompetence here? Or...?
THE ACTUAL FACTS
During Mr. Romney's tenure at Bain Capital, whose funds were 60% provided by pension funds and foundations and the like, he had some companies he couldn't save as a natural result of the risks and various economic happenings but he had many that prospered - the proof: 88% vs. 25% for the rest of the industry. "an extraordinary return" (PBS NewsHour Interview, 10 min.)
[Beth Healy of The Boston Globe said of Bain on the PBS NewsHour on January 11, 2012, “And they [Bain] made 88 percent a year for their investors under Romney's tenure, which is -- was one of the best records in the business at that time, from '84 to '99.”]
WHAT DOES BANKRUPTCY MEAN? GOING OUT OF BUSINESS OR I HEARD IS SAVED SOME?
Filing for bankruptcy does not mean a company goes out of business, as it allows for restructuring when companies need the time to do so. Many of them survive and go forward. AMPAD did (see the SCM facts). GS Industries did also.
JOBS WERE CREATED BUT DOES THE ACTUAL NUMBER MATTER - THE IDEA IS THAT THERE WERE RESULTS - AND EXTRAORDINARY ONES AT THAT!
There was no way, with all the growth, that the growth would not have created at least a sizable number of jobs. And business creators and businessmen absolutely are job creators for the rest of us in this nation.
JOBS CREATED
Staples - 89,000 jobs
Dominoes - 7,900 jobs D'ya think out of all the other successes
Sports Authority - 15,000 jobs that they didn't at least produce a positive net number?
Total 111. 900 jobs
Brighton 15,000
Sealy Corporation
Others added jobs, though lost some also,but invested in over a 100 companies, so would have had to average only 1,000 per company to reach 100,000 jobs being created.
AMPAD was taken from 106.7 million in revenues in 1992 to $583.9 in 1996, at which time it was newly listed on the New York Stock Exchange, at that time Bain became a minority shareholder and did not control the company. Surely, during Bain's tenure a fair number of jobs had to be created.
SOME OF THE OTHER COMPANIES ACQUIRED
AMC Entertainment, Aspen Education Group, Brookstone, Burger King, Burlington Coat Factory, Clear Channel Communications, Domino's Pizza, DoubleClick, Dunkin' Donuts, D&M Holdings, Guitar Center, Hospital Corporation of America (HCA), Sealy, The Sports Authority, Staples, Toys "R" Us, Warner Music Group and The Weather Channel.
