Friday, July 13, 2012

King of Bain

Let me see if I have the Romney scandal du jour right. Romney claimed that he left Bain Capital in 1999, yet he remained sole owner and CEO of a company he had nothing to do with for the next three years. Does this ring true for anyone? If so, would you also be interested in this fabulous bridge I have down in Brooklyn way?

Q: Why would Romney want us to believe such a thing anyway?

A: Because there are dozens of companies that Bain gutted during that period, shipping thousands of jobs to Mexico, China, and other places with more interesting cuisine than us.

I know, I know. I hate capitalism. Just another pinko-commie fag, what else is new? Only I don’t hate capitalism. I just want it to follow at least the same level of manners and morals that one would exibit when using a public restroom. You know, clean up after yourself. Don’t stink up the place. And for Godwhacker’s sake if you have a “wide stance” get a fracking hotel room. Nobody wants to see that shit.

Sometime Nazi appeaser but always true-blue American businessman archetype Henry Ford once said,

 “There is one rule for the industrialist and that is: Make the best quality of goods possible at the lowest cost possible, paying the highest wages possible.”

 Ford wasn’t being a do-gooder. He was just being a smart businessman. Just think of how many more Model-Ts he could sell if the people working for him could afford the product they built. Sure, this might cost him more in the short-term, but the long-term model was sustainable and increasingly profitable.

 But that’s not Romney’s brand of capitalism. He doesn’t think long-term. He is part of an aberration in our system that we have come to accept because it is commonplace. Today, quarterly reports dominate the business cycle. 5 and 10 year plans take the back seat to the immediate and the now. So much so that I can’t tell if it’s the business climate that is fueling the Wall Street cocaine epidemic, or if it’s the symptomatic desire for immediate gratification of the cocaine high that is pushing the agenda of the business cycle. Actions have been divorced from consequences -- shielded beneath a prevailing numbness that allows one to do things like shut down entire communities, stripping workers of their jobs and retirees of their pension plans without ever breaking that perfect Colgate smile.

No one here is accusing Romney of drug use. Supposedly, he wouldn’t even shoot a double macchiato. But as I learned during after-hours many years ago, you don’t have to be high to act high.

13 comments:

  1. And those right-wing bastards at the Washington Post are trying to cover up this huge scandal!
    http://www.washingtonpost.com/blogs/fact-checker/post/do-bain-sec-documents-suggest-mitt-romney-is-a-criminal/2012/07/12/gJQAlyPpgW_blog.html

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  2. Let me be clear. I don't think Romney is a criminal. But I do believe skirted the edge of the law with the precision of an ice dancer. Sadly, you can be morally repugnant and still be perfectly legitimate here.

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  3. There are several ways to "rescue, take over, invest etc" in a company. Bain invested it's investors capital taking the risk of loosing or gaining. If you are successful, you gain the profits, if you are not you loose your capital. Nothing wrong with taking the risk on a failing company and if anything saving some of the jobs. If no one takes the risk all employees are let go. But it is your money and your risk.

    Not the same as taking the money that is not yours, but the taxpayers and risking it. We do not pay taxes to have the government gamble.

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  4. Politics 101 states: Don't cut the tail off the puppy all at once. In order to make it really hurt, you chop it an inch at a time.

    Spoiler Alert!

    I've read McCain's opposition research on Romney. There are some things in there that shatter that "it's my money and I risk it" blah blah blah.

    But a good writer never lets you in on the end, until the end.

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  5. He says he just owned it. He's an innocent owner!

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  6. brilliant post. your best ever

    accidents happen in the middle of the road. ( and then you have hire a ticket lawyer like rumpole for 68.99)

    love the anger. let it ride.

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  7. Interesting post. Sure, WaPo, Fortune, and CNN must be covering for Romney.

    http://www.cnn.com/2012/07/12/politics/john-king-bain/index.html?hpt=hp_c1

    http://finance.fortune.cnn.com/2012/07/12/mitt-romney-bain-exit/

    And WaPo link above.

    Maybe if you thought that you jumped the gun, between the Boston Globe and Mother Jones' shaky understanding of SEC filings and just a touch of confirmation bias on your part, you'd walk back this post just a little bit? At any rate, I thought the Biston Globe's article was interesting enough when they wrote it in 2002.

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  8. Walk back? Again let me state that allegations of criminal conduct are over the top. We have a system where this is all legal. It's the system I'm inditing. Romney is just another cog in its wheel.

    I don't give a damn about establishment rules or an establishment press, the two of which have been so greatly serving our country and world as of late.

    But if you're going to be a vulture capitalist selling out American workers for a short term economic fix, OWN IT. Be proud of it! Drink your blood as any good vampire would ~ like a fine wine.

    I'm just trying to remind us that there used to be another way.

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  9. This blog is on fire.

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  10. PANDO PANDO PANDOJuly 15, 2012 at 10:35 AM

    No one's talking about the historic judicial race this summer. Pando Pando Pando rising from the canvas Bill Clinton like and slugging back and surging ahead in the polls!!!
    Come see why they call Pando the Clinton of Hialeah.

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  11. This post has nothing to do with the usual content of this blog. I respectfully dissent.

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  12. Remember that whoever wins gets to pick our next Supreme Court justices ...

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  13. uh, 1035 am - dipshit much?

    http://www.dailybusinessreview.com/PubArticleDBR.jsp?id=1202562987049&Judicial_poll_ranks_Stanford_Blake_highest_Ana_Maria_Pando_lowest&slreturn=1

    stick to the state hack blog

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