Romney, Bain Capital, and jobs

myp · Jan 9, 2012

The whole situation with Romney and his time at Bain Capital is a big story in the news right now. Romney has claimed that he led to the creation of over 100,000 jobs but that number has been questioned on whether it is the net number of jobs created or not. Also, there is the fact that that number includes all the jobs created by the companies working with Bain including after Romney left. This has been attacked by his opponents, with a Superpac supporting Newt questioning capitalism in the process.

The other issue with his time at Bain is that a steel company and Bain were bailed out by the Federal government.

Thoughts on the whole thing?

DodgeFB · Jan 10, 2012

myp said:
The whole situation with Romney and his time at Bain Capital is a big story in the news right now. Romney has claimed that he led to the creation of over 100,000 jobs but that number has been questioned on whether it is the net number of jobs created or not. Also, there is the fact that that number includes all the jobs created by the companies working with Bain including after Romney left. This has been attacked by his opponents, with a Superpac supporting Newt questioning capitalism in the process.

The other issue with his time at Bain is that a steel company and Bain were bailed out by the Federal government.

Thoughts on the whole thing?

I think Romney was doing the job he was given at the time. Seems Staples was one of the companies that Bain saved. I have worked for companies that were taken over. And for companies that did the taking over. In my experience the stronger company cuts way back on the people that worked for the weaker company. MYP you know how I hate "speculators", but see nothing wrong with weeding out the extra workers that are costing and not making the company money. After all, money is needed to keep the doors open and the lights on.

myp · Jan 10, 2012

I don't think that is what the controversy is about (although Romney saying he "likes" to fire people does not help either). It is really about potentially false claims, especially considering a lot of the 100,000 were hired after Romney left Bain.

DodgeFB · Jan 10, 2012

myp said:
I don't think that is what the controversy is about (although Romney saying he "likes" to fire people does not help either). It is really about potentially false claims, especially considering a lot of the 100,000 were hired after Romney left Bain.

I know why they are bringing it up now and for me that is not the question. How many of those people have a job today because Bain saved their company? As for the "false" claims, Most companies can prove it either way on a good day.

I do see a group of people that live in a glass house throwing rocks. By the Nov. election they will all have destroyed their "brand" and be hated by a majority
of the people anyway.

myp · Jan 10, 2012

DodgeFB said:
I know why they are bringing it up now and for me that is not the question. How many of those people have a job today because Bain saved their company? As for the "false" claims, Most companies can prove it either way on a good day.

I do see a group of people that live in a glass house throwing rocks. By the Nov. election they will all have destroyed their "brand" and be hated by a majority
of the people anyway.

It is being brought up because Romney is bragging about it. And let me ask you, if you were a manager at company x and left to become governor or whatever and then company x hired 80,000 more people over 10+ years (after you left) would you take credit for it? Your role in those jobs is highly arguable. Then there is the issue that Bain is a private company and many of the companies it works with are private so they do not release all of their numbers. The 100k jobs are from 3 companies mostly, but what about the possibly hundreds others Bain worked with? How many of them lost jobs, shut down, etc.? There are a lot of questions here.

DodgeFB · Jan 10, 2012

myp said:
It is being brought up because Romney is bragging about it. And let me ask you, if you were a manager at company x and left to become governor or whatever and then company x hired 80,000 more people over 10+ years (after you left) would you take credit for it? Your role in those jobs is highly arguable. Then there is the issue that Bain is a private company and many of the companies it works with are private so they do not release all of their numbers. The 100k jobs are from 3 companies mostly, but what about the possibly hundreds others Bain worked with? How many of them lost jobs, shut down, etc.? There are a lot of questions here.

Until those companies release the records we may never know.

netanyahoo · Jan 10, 2012

No President can force private companies to hire

DodgeFB said:
Until those companies release the records we may never know.

Those who believe that President can force private companies to hire are naive.
Every candidate will say to get your vote. They know the reality.
The wall street companies took bailout tax payer money and fired most of the people. Could the govt. put any condition on them for giving bailout money?

They got tax payer money fired the same tax payers and paid bonuses to fat cats on the top.

DodgeFB · Jan 10, 2012

netanyahoo said:
Those who believe that President can force private companies to hire are naive.
Every candidate will say to get your vote. They know the reality.
The wall street companies took bailout tax payer money and fired most of the people. Could the govt. put any condition on them for giving bailout money?

They got tax payer money fired the same tax payers and paid bonuses to fat cats on the top.

Yes they did. Just shows the lights are on, but no one is home in D.C.

myp · Jan 10, 2012

DodgeFB said:
Until those companies release the records we may never know.

Which is why it is justifiable to question Romney who clearly has the incentive to distort and lie to his favor.

DodgeFB · Jan 10, 2012

myp said:
Which is why it is justifiable to question Romney who clearly has the incentive to distort and lie to his favor.

That is the big problem! Who out of this gang can we trust? I do not know.

Romney, Bain Capital, and jobs

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