"A wise and frugal government which shall restrain men
from injuring one another, which shall leave them otherwise free to regulate their own pursuits of industry and improvement, and shall not take from the mouth of labor the bread it has earned. This is the sum of good government."
(Thomas Jefferson)

Sunday, August 28, 2011

Politico: The Bain of Mitt Romney's campaign from 1994 -- Kennedy versus Romney

With the release of these two ads on Politico from the Kennedy/Romney race in 1994, it brings up the question, 'Who wants Romney out of the race?'  Must admit my mouth dropped open when I played the ads on Politico after I read the article on Hot Air "Is it time Romney to start Rick Perry?."  With all of this touting by Romney of his background as a business leader, you would think he would have thought twice before running after reading about his time as head of Bain Capital.
Earlier this spring, Republican Donald Trump became the first presidential aspirant to attack Romney’s record in the open, dismissing him as “a funds guy” who would “buy companies, he’d close companies, he’d get rid of the jobs.”
Wondered at the time what Trump was saying and why.  No need to wonder now as these ads plus this Politico article tell the story of a company under the leadership of Romeny that was more worried about making money then what happened to the employees of the companies they bought.  Not a very good background to run in today's environment.

If you take his background at Bain and add his tearing down a 3,000 sq ft home in La Jolla, CA, to build a $12M mansion on the ocean, you are left with the impression Romney will not play well people who are struggling to buy gas and groceries.  Have no problem with Romney building this mansion, but he is the one who while talking to a group of unemployed people in Florida declared he was also unemployed.  How is building a mansion by a GOP candidate going to relate the average person?  The timing couldn't be worse.  One article suggested Romney was building the Western White House which would be highly presumptuous of him.

Romney has his shares of Bain Capital in a blind trust, but continues to hire some of his advisors from Bain.  In late June Bain Capital's Hedge Fund's Brookside Capital was fined by the SEC for shorting stock which they bought back in three days.  You can find article after article going back into the 1990's of how Bain operated -- buying up business while Romney was the head of Bain, laying off employees, and then bringing them back at lower wages and benefits.  It is all in the archives.  It wasn't brought out in the 2008 race because the United States economy was not in such bad shape with so many laid off.  Now his time as head of Bain Capital is being put under the microscope which brings up the question of 'Why is he running again?'

Whatever the reason for the release of these two unused ads from 1994 along with this article is open for speculation by a number of people:

The Bain of Mitt Romney’s campaign

GOP candidate Mitt Romney is pictured in front of a sign for Bain Capital and in front of Allentown Metal Works in Allentown, Pa. | AP Photo
Mitt Romney's work at Bain & Co. ties him to countless controversial decisions. | AP PhotoClose

No comments: