Sunday, November 13, 2011

Mitt Romney at Bain

In the New York Times, a look at Mitt Romney, man of business:

Mr. Romney’s career at Bain Capital, which he owned and ran as chief executive, is a cornerstone of his campaign for the Republican presidential nomination — a credential, he argues, that showcases the management skills and business acumen that America needs to revive a stalled economy. Creating jobs, Mr. Romney says, is exactly what he knows how to do.

The White House, though, is already preparing a less flattering portrayal, trying to frame Mr. Romney’s record at Bain as evidence that he would pursue slash and burn economics and that his business career thrived by enriching the elite at the expense of the working class.
You can guess which account of life at Bain Capital I think is more convincing.

Elaine worked at Bain & Company (pre-Bain Capital) in the 1980s, processing other people’s words, including Mitt Romney’s. As she puts it, Romney sees the world through “Bain-colored glasses.”

Further reading
Downsizing and Outsourcing (Management Tools 2011, Bain & Company)

comments: 2

Pete said...

Private equity isn't about creating jobs. It's about creating efficiencies (in other words, firing workers), piling on debt and enriching shareholders. If that's Romney's vision for our economy, heaven help us all. Then again, he flip flops so much that it's impossible to say exactly what his vision is.

Anonymous said... said...

Herman Cain at Pizza Party

"Because the more manly man is not afraid of abundance."