Posts tagged business
As if you needed another reason to be skeptical of a Harvard B-school grad running for president:
GAFFNEY, S.C. — More than two decades ago, Mitt Romney’s business venture came to town with a bounty of highly anticipated manufacturing jobs. The new plant, just past the gas station off Interstate 85, needed skilled workers to churn out thousands of photo albums.
Four years later, the Holson Burns Group Inc. — the company controlled by Romney’s Bain Capital LLC — closed the factory and laid off about 150 workers. Some jobs were sent north, where months later many of those were also eliminated. Other operations went overseas.
But Bain walked away with millions in profits…
— “As Romney’s Firm Profited in SC, Jobs Disappeared.” A must-read.
Why is this a big deal? Capitalism does this all the time. It’s pretty much the point of capitalism. While most candidates don’t have a history of specifically laying off workers and “streamlining” businesses to maximize profits, every single candidate who spent any time in the private sector will have been tasked with finding the best way to exploit resources and labor to make the most money possible. The average business person is guilty of that because that’s the nature of capitalism. So, I say, whether it’s Romney or some other (effectively) white man in a suit, what difference does it make?
I’m getting pretty tired of both “sides” in the media trying to fear monger as though Obama might not win a second term. It’s all a big fat waste of time. Obama would have to be caught on camera feeding puppies into a meat grinder to screw this up. Say what you will about the Democrats but even Obama isn’t dumb enough to let that happen.