Las Vegas Sun

November 27, 2014

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Letter to the editor:

Bain’s priority wasn’t job creation

Mitt Romney keeps insisting that he was a job creator at Bain Capital. Unfortunately for his argument, Bain’s goal, like every other private company, was to make money. Job creation was never a priority.

If a company they acquired needed more staff, they would hire. If one of their companies was in financial straits, they would close it down, firing the personnel. Making money was the central theme. When the Democrats brought up the closing of G.S. Industries and the loss of 750 jobs, the Romney camp replied that he was no longer in control of Bain at that time. But then the Romney camp turned around and added the hiring Bain was doing at that time to Romney’s job-creation claims.

He was a very successful businessman, but no job creator.

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  1. For god's sake, why can't the Left get it through its head that in the process of being an oustanding businessman that Romney's success at Bain did lead to job creation. But here are the critical facts that the Left tries to avoid at any cost.

    Mitt Romney is an executive running to head up the Executive Branch and he's highly qualified by excellent experience and demonstrated successes. Romney has the educational depth by way of his degrees at Brigham Young and his joint Law Degree and MBA at Harvard.

    He has a deep commitment to his family, and his faith. He has been a success in every endeavor to which he has applied himself. He was a highly successful and respected CEO at Bain where he achieved rare personal financial success as well. He was a success in turning around the 2002 Winter Olympics in Utah and was a successful governor of Massachusetts from 2002-2006.

    It is time to make a change in the White House. The incumbent Obama has a tired and failed array of policies which continue to set America back. Incredible debt, high and stubborn unemployment, the promotion of racial and class division, encumbered regulations which burden our businesses, a healthcare program which is unpopular and ill founded, a weak foreign relations policy which frequently casts the nation in the role of apologizing for who it is, and an anemic energy policy which fails to take advantage of the nation's massive hydrocarbon resources as the nation is punished by high gas prices. The incumbent president lacks a cohesive vision for the nation and his policies continue to push it further away from its traditional core values of individual accountability, free enterprise, and private solutions to national needs instead of massive central government involvement in the life of the nation.

    President Obama and the Left demonstrate their lack of understanding of American capitalism when they criticize Mitt Romney for his role as Bain Capital's chief.

    Bain is a private equity firm that for many years has invested in companies that are usually considered by Bain to be undervalued. It then blends the talents of its own management team with those of the acquired entity, restructuring and adding new talent.

    Bain undertakes a long-term commitment to these entities with the objective of improving performance, increasing their value and ultimately selling them for a profit.

    Under our capitalist system, Bain and Romney both participate in a virtuous activity that is and has been highly successful and which is emblematic of Mitt Romney's incredible overall qualification to loead this nation as its President.

  2. No wonder liberals and Obama can't create jobs. They don't understand business.

  3. If Bain and Romney weren't successful the company would have folded a long time ago. It sounds as though Mr. Mundy is jealous of Bain and Mr. Romney's success. I see he didn't even reference Bain success stories Toy's R Us and Staples. Fair and balanced Mundy?

  4. Enjoyed the letter.

    Romney is not Presidential material.

    He's a person who is simply someone chosen by the rich, totally for the rich and a representative of the rich. And nobody else.

    If you don't believe me, look back at the Tea/Republican Party primary process. In every single State, Romney captured over 90 percent of the voters who made over $100,000.00. They are banking on Romney to make him even more money. Which means bad news for everyone else.

    If he is mistakenly elected President, he has clearly shown he will pay lip service to America and do nothing. But if one of his filthy rich cronies asks for something, it is guaranteed he will bend over backwards to accomodate. Even if he has to step over the entire middle class to do it.

    His sole impetus will be moh money, moh money, MOH MONEY! If China invades the United States, he most likely will cut a deal and split the profits.

    Obama for four more years. AND a Democratic Party majority in BOTH the Senate and the House.

  5. Future makes an entirely false assumption based on the following statement made: "And for the last two years all jobs gains have been in the Capitalistic private business sector

    Under the socialism model of Obama there has been a net decrease in Goverment jobs."

    Your memory needs to be refreshed that for the past two years, the House, which has a Tea/Republican Party majority, has made it their policy to shoot down any Government hiring in pursuit of austerity...even cutting Government jobs. And on the State levels, the Tea/Republican Governors have done their level best to go after every type of teacher/police/firefighter/public sector union they can go after. Because they believe to their souls the unions all get their members to vote Democrat, added to the fact they want the money saved to be handed to the rich.

    President Obama (and the American people) have been thwarted and strangled to death by Tea/Republicans in the public sector for these past two years because of their intransigence.

    So the only place President Obama can encourage job growth is in the private sector. And he has done that to the tune of over 4 million jobs with 26 straight months of job growth.

    President Obama and his administration have been confirmed to spending the least amount of money than any recent past Presidents. But still you people howl this spending needs to stop.

    Now you are saying this is all President Obama's fault?!?!? So, based on your flawed statistics only thrown out there for right wing nutball propaganda, President Obama is a socialist?

    You are trying to re-write recent American history. People are not snowed by this.

  6. The letter writer is correct in the assessment "like every other private company, was to make money. Job creation was never a priority" What the letter writer fails to mention is that many of those people, many union, were going to loose their jobs anyway because the plants they worked at were unprofitable. My brother spent many years at a company and his job was to make plants profitable or shut them down. 90% of the time after trying to work deals with the union he shut them down. So Bain did create jobs that were to be lost, some forever because the work would have been sent to anther country. You can't save every sinking ship but Mitt proved he can save many, now it is time to see if he can save the sinking ship known as the USA.
    Think about it, he is super rich, successful and really does not need the headache that come with being president yet he is willing to step up the job. The country is 14 trillion in the hole and counting every day, we need someone who understands money running the country!

  7. We going to get rid of Social Security when the primary function of " private equity" is to weasel out of paying pensions ?

  8. Definition of bane (bain ): Killers,Poisoners, or destroyers. Of we we wage slaves ?

  9. Republicans and liberatarians are the bain of the nations existance!

  10. Let's hope for change from what we have to anything else. Anything to the center or further right. How about moving back to what is constitutionally allowed for the federal government?

  11. When you can't make an argument all you conservatives can do is resort to condescencion or call we decent people names......dude

  12. So I see the bought and paid for Romney defenders are here in full force again today. Just how much do the Koch Brothers pay you misguided souls to hang your name on the insane posts you upchuck?

    You guys aren't wealthy enough to be Republicons and if you had any sense you could see through the Romney/Republicon BS.

    One thing the Cons, Romney, and the Kochs do and are good at is to spew manure while dividing an already divided country.

  13. Republican dudes I'd suggest you turn off the TV and read some books:

    A)Railroaded

    B)13 bankers

    C)Confidence Men

    D) The passage of power

  14. Tea lets talk about HCA and private equity say a little more about it and how it decreases health care costs.

  15. Dude....Pop quiz :

    What do you think happened to a "dude" that stole millions of dollars from the government via medicare ?

    A) He spent many years in jail

    B) Ridiculous Republicans elected him governor

  16. bite your a racist-thanks kepi

  17. Bain Capital took companies they purchased into bankruptcy to create profit for their investors. K-B Toys was such a company.

    Bain took K-B Toys private in 2000 for $305 million. Only $18 million of that came from Bain cash and the rest was borrowed against the assets of K-B Toys. Sixteen months after the buyout, Bain Capital paid itself $85 million in dividends from K-B cash in early 2002. This is famously called 'Dividend Reinvestment'.

    Two years later on January 14, 2004, due to its enormous debt, KB Toys filed for Chapter 11 bankruptcy protection and closed 365 stores. Around 3,000 jobs were lost. In the world of venture capital the only people who matter are the capitalists.

    The Investor capitalist hands out orders, not diplomacy. Romney demonstrates that philosophy in his speeches. He has proudly said he doesn't care about the poor and his priorities are increasing the size and power of the military while cutting social programs, particularly public education, medicare and social security.

    Romney will (try to) privatize Social Security to send retirement savings to fund managers who will invest in military projects, funds that have no legal obligation to be paid back.

    Romney says that "God wants America to lead", meaning gunboat diplomacy with Russia, China and probably an invasion of Iran. The never ending cold war will begin and damn the retired. If you are poor and sick, learn to pray; if you are wealthy, see a doctor. Q.E.D.

  18. Bunch of idiots, Bain isn't in business to employ or hire people just too give people jobs. Even your own party understands that for themselves personally or at least they better know better. I can say that Obama doesn't know that though, he has yet to fire any of the idiots he's appointed to their positions and we're still paying for them stupid choices being made. Absolutely amazing that you people really like that guy, no wonder America is so screwed up.

    "The question is; why aren't the unions supporting the American worker during these tough times by donating their union dues?"

    The unions don't support their own workers today like they did 15 years ago when they used to finance developments and building construction then mandate the use of union workers only. Look around the strip and most of the other projects throughout the USA, what once was 100% union is forever gone, non-union companies now build 90%. People ask why, unions have desecrated themselves into a human cesspool of whining lazy pathetic workers that are about as useless as Obama.

  19. Whats our choice in the next election ?

    a) corporate pawn who says a corporation is a person

    b) corporate pawn who says maybe it's not

  20. We got bombed the last time a Republican silver spoon weaseled into the white house. It took a competent military commander in President Obama to catch the bomber..........I guess the country would fall into anarchy without sports Authority,Staples and a dog food retailer.

  21. http://www.youtube.com/watch?v=MfL7STmWZ...

    This is what I think of Romney, Bain Capital, and anyone who thinks the Republicans will make things better.