Mitt Romney: No Bain, No Gain?

Growing up in Boston and living in the greatest Baseball city in the world, an article in the Boston Herald titled, ‘Strike three in Bain attacks on Romney’. caught my eye.

In it, writer Kimberly Atkins makes a point that these attacks may have accomplished what Romney has been trying to do, all along….rally the Republican base behind him.

First, she points out that the attacks on Romney’s venture capitalist, turned off potentially powerful conservative allies. One of those is Tom Donohue CEO of the U.S. Chamber of Commerce, the nations largest business lobby who condemned the attacks.

Second, the attacks provided Romney a dress rehearsal for the general election campaign. While commentators initially asked why Gingrich was doing President Obama’s work for him, by the end of last week, they were noting that he may have done Romney a favor — Bain will be old news by next fall.

Third (and most important in my estimation)

The Bain controversy may provide the final push Republicans need to finally galvanize behind one candidate — and as of now, that seems to be Romney. After all, in recent history that has been the GOP’s usual mode of operation: wrap up the presidential primary early and in largely civil fashion, saving the money and energy for the big dance.

The GOP may be ready to pick a candidate, and in the wake of Baingate, Donohue seemed to be leading the rallying cry.

“Romney’s had a pretty good track record,” Donohue said about Romney’s business career.

“Perfect? Hell no. But damn good.”

Read the full article HERE.

This analysis might be right. Today’s Fox News national poll has Romney breaking the 40% mark, leading the number two candidate Rick Santorum by a WHOPPING 25 POINT MARGIN.

Obama’s Problem: A Bad Economy and Mitt Romney

Charles Krauthammer points out in his latest article, ‘Stewardship? Or ideology?‘ in the Washington Post, that the landscape has changed since 2010 when it was a referendum on ‘Ideology’ that drove Republicans to victory. He feels that won’t work in 2012, especially when trying to win in a general election and the issue will be the economy. He goes on to say:

Suddenly, the election theme has changed. The Republican line in 2010 was: He’s a leftist. Now it is: He’s a failure. The issue is shifting from ideology to stewardship.

As in 1992, it’s the economy, with everything else a distant second. The economic numbers explain why Obama’s job approval has fallen, why the bin Laden bump disappeared so quickly, and why Mitt Romney is running even with the president. Romney is the candidate least able to carry the ideological attack against Obama — Exhibit A of Obama’s hyper-liberalism is Obamacare, and Romney cannot rid himself of the similar plan he gave Massachusetts. But when it comes to being solid on economics, competent in business and highly experienced in governance, Romney is the prohibitive front-runner.

The full article is HERE.

Chris Matthews, Howard Fineman, and Susan Page discuss President Obama, Mitt Romney, the economy, and the Charles Krauthammer piece in this segment of HARDBALL:

CNBC is noticing how poorly President Obama compares to Mitt Romney in terms of the economy now as well!

Mitt Romney: A Bigger Man Than I

I found this video today of Mitt Romney speaking at the NRA convention in Louisville, Kentucky back in May of 2008. He spoke in behalf of John McCain, a few months after bowing out of the 2008 GOP Presidential primary race in support of McCain.

I can remember at the time how disappointed I was and that how I was not a fan of McCain who I felt ran a dirty campaign. I can still remember how hard it was for me to vote for him in the general election.

This post isn’t about that, this is about the character of Mitt Romney who could have just as easily walked away after the primaries and left McCain to fend for himself. I know I would have. Romney didn’t.

He knew what was in store for America as he points out in the following video of that speech he made at the NRA. He was doing everything in his power to keep Obama from winning the Presidency. I still share the vision of America he spoke of here:



Suffolk University/WSVN Poll: Romney crushes GOP contenders, Beats Obama in Florida

Former Gov. Mitt Romney is the early front-runner in Florida’s Republican presidential primary, and he was the only Republican challenger who led President Barack Obama in a general election match-up there (43 percent to 42 percent), according to a Suffolk University/7NEWS (WSVN-Miami) poll of registered voters in Florida.

Republican voters said their top choice for a nominee was Romney (33 percent), followed by Mike Huckabee (14 percent), Newt Gingrich (9 percent), Donald Trump (8 percent) and Sarah Palin (8 percent), with 17 percent undecided.

Thinking about the 2012 Republican Primary for President of the United  States, if the candidates were (RANDOMIZE), for whom will you vote or toward whom would you LEAN at this time?

Mitt Romney 33%
Mike Huckabee 13%
Newt Gingrich 9%
Sarah Palin 8%
Donald Trump 8%
Haley Barbour 4%
Tim Pawlenty 3%
Ron Paul 2%
Michele Bachmann 1%

Head-to-head (Obama/Candidate/Undecided)

Mitt Romney 42/43/10 (+1)
Mike Huckabee 44/41/11 (-3)
Newt Gingrich 47/36/13 (-11)
Tim Pawlenty 41/28/25 (-13)
Michele Bachman 45/30/19 (-15)
Donald Trump 49/34/12 (-15)
Sarah Palin 52/34/10 (-18)
Ron Paul 48/30/18 (-18)
Haley Barbour 47/26/22 (-21)

The statewide survey of 600 Florida registered voters was conducted April 10-12, 2011. The margin of error is +/-4 percent at a 95 percent level of confidence. Marginals and full cross-tabulation data will be posted at 6 p.m. Wednesday, April 13, 2011, on the Suffolk University Political Research Center Web site.

The Full Story is HERE.
Marginals can be viewed HERE.
Crosstabs can be viewed HERE.

Sachs/Mason-Dixon Poll Florida: Mitt Romney Top GOP, Obama loses to Romney and Huckabee

The poll, which was conducted April 4 through April 7 by Mason-Dixon Polling & Research, also found Governor Romney leading with 23 percent supportamong a sample size of 400 likely Republican primary voters. In what seems to be developing into a crowded Republican primary field, 13 candidates were included in the poll, including Governor Mike Huckabee, real estate magnate Donald Trump, former House Speaker Newt Gingrich, Governor Tim Pawlenty and others.

400 LIKELY REPUBLICAN PRIMARY VOTERS
QUESTION: If the 2012 Republican primary were held today, which one of the following candidates would get your vote? (ORDER ROTATED)

Mitt Romney 23%
Mike Huckabee 18%
Donald Trump 13%
Newt Gingrich 11%
Tim Pawlenty 8%
Sarah Palin 5%
Mitch Daniels 4%
Ron Paul 3%
Michelle Bachman 1%
Rick Santorum 1%
Haley Barbour -
Undecided 13%

Head-to-Head: (Candidate/Obama/Undecided)

Mitt Romney 48/43/9 (+5)
Mike Huckabee 49/44/7 (+5)
Donald Trump 40/48/12 (-8)
Sarah Palin 39/51/10 (-12)

The poll, which was conducted April 4 through April 7 by Mason-Dixon Polling & Research, also found Governor Romney leading with 23 percent support among a sample size of 400 likely Republican primary voters. A margin of error of plus or minus 3.5 percent.

Crosstabs may be viewed HERE.

Romney Talks Economy and Foreign affairs in Nevada


In his first public appearance in nearly a month, as he continues aggressively working behind-the-scenes to build a presidential campaign, Mitt Romney took time get a first-hand look at the home-foreclosure crisis in Nevada. He took a brief walking tour of a neighborhood before stopping in front of a home that is on the auction block.

Romney and Nevada Lt. Gov. Brian Krolicki — a longtime Romney backer — met with the Tylers at their home before Romney took a walking tour of the neighborhood to take stock of the economic devastation that has left one in every five North Vegas homes under water.

“This is a national crisis,” Romney told the handful of reporters gathered outside a foreclosed home on North Diazo St. “The tragedy of unemployment statistics, it’s not just a number. It’s real lives, real people.

“The impact of unemployment is really far greater than just the 14 million people who are out of work,” he added. “It’s really a tragedy.”

Romney took the tour around the neighborhood with the Tylers while talking to them about their personal situation and the economy.

Romney is in Nevada to deliver a foreign policy address on Saturday to the Republican Jewish Coalition, a national organization that is holding its annual conference there.

The full story can be read HERE.

~Update from Jared:
High unemployment is the number one concern for Americans. Its also the number one concern for people in Nevada where the state has an unemployment rate of 14.3%, the highest unemployment rate in the United States.

It is also Mitt Romney’s number one concern as has been speaking out on that issue ever since Obama walked into the White House. In October of 2009, Mitt Romney wrote an article explaining that Obama’s plan to pass a second stimulus package was the wrong way to fix the economy. In December of 2009, Mitt Romney wrote an op-ed explaining to Obama the basics of job creation and attacking him for his Orwellian use of “jobs saved or created.” On August 18, 2010, Romney wrote another opinion piece in which he advised Obama that the only way to grow jobs is to reduce the size of government. The former Massachusetts Governor’s article was praised for his ability to lay down specifics about fixing our country’s economy rather than issuing general statements as politicians tend to do in offering solutions. He also disagreed in an article with both Republicans and Obama over the passage of taxes in December of 2010. Mitt Romney was very critical of Obama’s 2011 State of the Union speech pointing out that the President lacks any direction when it comes to fixing our country’s economy.

Recently, Mitt Romney wrote an op-ed pointing out that when it comes to the issue of unemployment, President Obama has been absent in dealing with this issue despite the fact that has made multiple promises that the economy would be the main focus of his presidency. He made a promise to tackle the economy during the early days of his presidency and yet went on to push ObamaCare through the legislature. He repeated that promise almost a year ago after Scott Brown was elected to represent Massachusetts but still kept fighting for ObamaCare. And he has recently made that promise in September of 2010 that he would focus exclusively on the economy.

Nevada is the ideal place for Mitt Romney to go after Obama on the issue of the economy. Mitt Romney really likes Nevada and is sincerely concerned about the issues that affect the people of that state. He made a whopping five stops to the Vegas area on his No Apology book tour back in March. He also gave a speech to the 2,500 members of the International Franchise Association in Las Vegas. Furthermore, Mitt endorsed a handful of Republican candidates in Nevada and came out to stump for them during the 2010 midterm elections.

In return, the people of Nevada love Mitt Romney. They gave Mitt Romney a victory during the 2008 Presidential primaries (some have attributed his victory to the high volume of Mormon [LDS] voters). There was also a poll from Public Policy Polling showing Mitt Romney as the only person who would be a real challenge to President Obama in Nevada.

When it comes to the 2012 election, the people of Nevada will have an opportunity to put Obama in the unemployment line and give Mitt Romney a new job–President of the United States!

~Update from Ross
RealClearPolitics had an interesting write-up on the events of the day titled “Mitt Romney’s 4-Letter Word: Jobs”.

One woman drove up in a truck, rolled down her window and shouted to Romney that she voted for him in Nevada’s 2008 caucuses.

“Oh, great, what do I owe ya,” he said back, before approaching her vehicle and peering in to chat. Then he marveled at the three car seats in her backseat and asked, “Work OK? You’ve got a house in this area?” And he asked whether she or her husband had jobs and if she could afford gasoline for her big rig.

And about twenty minutes after she first showed up, the woman in the truck drove back up the street to ask Romney if he’d be running again, and he gave the same non-denial he’s been giving for several years.

A reporter asked Romney a similar question, but he said, “No process observations today or great insights in that regard.”

And as he made his exit, Romney told a couple reporters he had a few more speeches to give today before his big appearance Saturday, and then he’d be off to Utah to go to church with two of his sons, and then it’s Kansas on Monday.

Does Mitt Romney Have a Mormon Problem? …This Roman Catholic says “Nope”

Romney Family Photo

Romney Family Photo

They’re at it again. While Googling for articles today, I came across this fresh group of stories pertaining to Mitt Romney and his Mormon faith:

  • Mitt Romney Must Tackle his religion
  •  

  •  The Continuing Story of Romney’s Mormon Problem
  •  

  • Religion biggest hurdle to Romney nomination
  • This is the way I look at it: I want the best possible candidate to lead this nation. I want someone who believes in the principles of our Forefathers; someone who has the ability, experience, and knowledge to bring our nation back to greatness. This person’s particular theology is really an afterthought for me. I put more weight in a person’s family values and how he or she conducts their life.

    As a Roman Catholic and Pro-Lifer myself, I believe most Evangelicals and Fundamentalist Christians feel the same way I do. Sure there are fringe elements of every group — those that will spread lies and put all sorts of misinformation out there about good people such as Governor Romney, merely because he is a Mormon. They’ll dress up the hatred for his religion by attacking him on an old forsaken pro-choice stance and how they believe Romneycare supplies cheap abortions. They’ll never tell you the whole truth, just what they want you to believe. Anything to keep the Mormon out of the White House. But again, they are in the minority.

    Evangelicals for Mitt Romney

    Nobody explains better, especially from a non-Mormon perspective, why this country needs a Romney presidency than our friends at Evangelicals for Mitt. From their site, the reasons that they (and their large Evangelical network) support Mitt Romney:

    (more…)

    John Sununu Speaks on Potential 2012 GOP Candidates

    Here is a great no holds barred interview from yesterday with ABC’s Amy Walter and Rick Klein featuring special guest John Sununu. Sununu was the former conservative Governor of New Hampshire and former White House Chief of Staff for President George H. W. Bush (#41).

    Never one to temper his opinion and, as expected, Sununu doesn’t here, either.


    Fast forward to the 3:05 minute mark. (Hear what he has to say about Governor Romney!)



    ~Update from Ross (3/29/11)

    According to sources, the New Hampshire Journal is reporting that Sununu is already helping Romney; wooing Union Leader.

    Mitt Romney’s Time Has Come: Obama Gets an “F” on the Economy

    The number of voters nationwide who give President Obama good or excellent marks for his handling of economic issues has fallen to a new low.

    A new Rasmussen Reports national telephone survey of Likely Voters show that just 31% rate Obama’s handling of economic issues as good or excellent.

    Related to the economy, I came across this depressing map called The Decline: The Geography of Recession. It was last updated on January 12, 2011 with labor statics taken from the U.S. Department of Labor. It shows the deteriorating transformation of the U.S. Economy.

    Take a look:

    A larger, more impressive,  MORE DEPRESSING version of the above map can be found HERE and is really worth the look.

    I would not expect the economy or job growth to improve much over the next two years. This is what will make the 2012 Presidential election one of the most important in the history of our country.

    Mitt Romney’s time is now!

    There are some good choices on the horizon among the 2012 Presidential hopefuls but only one GREAT CHOICE for what needs to be done to put America back on the road to economic recovery. That candidate is Mitt Romney. Not only would he bring his success as a Governor to the United States Presidency but he would, more importantly, bring his business savvy.

    Here are some highlights of Romney business success taken from Wikipedia:

    PLEASE NOTE: Several links to back up the claims in the highlights below, can be found HERE.

    1977- 83 Bain & Company – Romney proved adept at learning the “Bain way”, which consisted of immersing itself in each client’s business, and not simply to issue recommendations, but to stay with the company until they were effectively changed for the better. With a record of success with clients such as the Monsanto Company, Outboard Marine Corporation, Burlington Industries, and Corning Incorporated, Romney became a vice president of the firm in 1978 and within a few years one of the its best consultants. Romney became a firm believer in Bain’s methods; he later said, “The idea that consultancies should not measure themselves by the thickness of their reports, or even the elegance of their writing, by rather by whether or not the report was effectively implemented was an inflection point in the history of consulting.



    1983 – 90 Bain Capital – A spinoff of Bain & Company, Romney founded the company with Bill Bain. At first, Bain Capital focused on venture capital opportunities. Their first big success came with a 1986 investment to help start Staples Inc., after founder Thomas G. Stemberg convinced Romney of the market size for office supplies; Bain Capital eventually reaped a nearly sevenfold return on its investment. The firm’s successfully invested in or acquired many well-known companies such as Accuride, Brookstone, Domino’s Pizza, Sealy Corporation, Sports Authority, and Artisan Entertainment, as well as lesser-known companies in the industrial and medical sectors. Bain also was involved in leveraged buyouts which sometimes led to layoffs. Of these, Romney later said, “Sometimes the medicine is a little bitter but it is necessary to save the life of the patient. My job was to try and make the enterprise successful, and in my view the best security a family can have is that the business they work for is strong.”

    1990 – 92 Bain & Company – Romney returned to Bain & Company which was facing collapse as a favor to his mentor Bill Bain and was named CEO taking only a symbolic salary of one dollar. Romney managed an effort to restructure the firm’s employee stock-ownership plan, real-estate deals and bank loans, while rallying the firm’s thousand employees, imposing a new governing structure that included Bain and the other founding partners giving up control, and increasing fiscal transparency. Within about a year, he had led Bain & Company through a highly successful turnaround and returned the firm to profitability without further layoffs or partner defections. He turned Bain & Company over to new leadership and returned to Bain Capital in December 1992.

    1992 – 99 Bain Capital – Romney left Bain Capital in February 1999 to serve as the President and CEO of the 2002 Salt Lake City Olympic Games Organizing Committee. By that time, Bain Capital was on its way to being one of the top private equity firms in the nation, having increased its number of partners from 5 to 18, had 115 employees overall, and had $4 billion under its management. His experience at Bain & Company and Bain Capital gave Romney a world view that was business oriented – centering around a hate of waste and inefficiency.



    I’d like to hear about similar experiences of other candidates in this area. I don’t believe there are any. This is why I believe Romney is unique and that HIS TIME IS NOW!

    UPDATE by Jayde: Is Romney Winning the Base?

    (H/t Paulee)

    The Business of Mitt Romney: A Record of Job Creation & Turnarounds

    “Frankly, Governor Romney in his career has created more jobs than the entire Obama cabinet combined, so he could actually talk about [the economy].” -Newt Gingrich

    Mitt means business

    At a time in history when American jobs are scarce, and the economy is on the brink of collapse, we need a President who doesn't require on-the-job training -- we need Mitt Romney! Mitt Means Business.

    There are a lot of things people don’t know about Mitt Romney. Some that I feel are important when considering him for the office of President of the United States.

    I think it’s safe to say that when many folks hear his name, they know him for the fact that he was a businessman for most his life; a successful one at that. It is precisely his business background and experience at Bain Capital that we will take a look at today.

    I had also heard that when Romney left Bain Capital, that he could have made billions but instead left the company with much less as to not hurt the company or its investors. We will look into this as well.

    The reason I am posting this Bain piece today is that for the past 2 or 3 days, there have been some not-so-flattering articles on Romney’s Bain background circling on the web. My goal today is not to single these hit pieces out, but instead present the facts and let the readers decide.

    Before I start, I thought it might be interesting for you to view this brief video from the 2008 campaign and hear how Romney relates his background in business to the job of the President:

    My search for material on Romney’s business background didn’t take very long. I did a quick Google search and came across information on Wikipedia about Bain & Company, Bain Capital, and Mitt Romney. That information is as follows:

    In 1977 Romney was hired by Bain & Company (not to be confused with Bain Capital), a hot new management consulting firm in Boston that had been formed a few years earlier by Bill Bain and other former Boston Consulting Group employees. Bain would later say of the thirty-year-old Romney, “He had the appearance of confidence of a guy who was maybe ten years older.” With Bain & Company, Romney proved adept at learning the “Bain way”, which consisted of immersing itself in each client’s business, and not simply to issue recommendations, but to stay with the company until they were effectively changed for the better. With a record of success with clients such as the Monsanto Company, Outboard Marine Corporation, Burlington Industries, and Corning Incorporated, Romney became a vice president of the firm in 1978 and within a few years one of the its best consultants. Romney became a firm believer in Bain’s methods; he later said, “The idea that consultancies should not measure themselves by the thickness of their reports, or even the elegance of their writing, by rather by whether or not the report was effectively implemented was an inflection point in the history of consulting.”

    Romney was restless for a company of his own to run, and in 1983 Bill Bain offered him the chance to head a new venture that would buy into companies, have them benefit from Bain techniques, and then reap higher rewards than just consulting fees. Romney was initially cautious about accepting the offer, and Bain re-arranged the terms so that there was no financial or professional risk to Romney. Thus, in 1984, Romney left Bain & Company to co-found the spin-off private equity investment firm, Bain Capital. Bain Capital was founded by Bain & Company partners Mitt Romney, T. Coleman Andrews III, and Eric Kriss. Bain and Romney spent a year raising the $37 million in investment money needed to start the new operation. As general partner of the new firm, Romney was frugal and cautious, spending little on office appearance and finding the weak spots in so many potential deals that by 1986, very few had been done. At first, Bain Capital focused on venture capital opportunities. Their first big success came with a 1986 investment to help start Staples Inc., their investment eventually reaped a nearly sevenfold return on its investment.

    Now It really gets INTERESTING. And there is more. Talk about loyalty to the company that gave him his start:

    In 1990, Romney was asked to return to Bain & Company (not to be confused with Bain Capital), which was facing financial collapse. As CEO (but only drawing a symbolic salary of one dollar), Romney managed an effort to restructure the firm’s employee stock-ownership plan, real-estate deals and bank loans, while rallying the firm’s thousand employees, imposing a new governing structure that included Bain and the other founding partners giving up control, and increasing fiscal transparency. Within a year, he had led Bain & Company through a highly successful turnaround and returned the firm to profitability without further layoffs or partner defections. He turned Bain & Company over to new leadership and returned to Bain Capital.

    During the 14 years he headed the company, Bain Capital’s average annual internal rate of return on realized investments was 113 percent. The firm’s successfully invested in or acquired many well-known companies such as Accuride, Brookstone, Domino’s Pizza, Sealy Corporation, Sports Authority, and Artisan Entertainment, as well as lesser-known companies in the industrial and medical sectors.

    Romney left Bain Capital in February 1999 to serve as the President and CEO of the 2002 Salt Lake City Olympic Games Organizing Committee. His experience at Bain & Company and Bain Capital gave Romney a world view that was business oriented – centering around a hate of waste and inefficiency, and a love for data and charts and analysis and presentation – that he would take with him to the public sector. As a result of his business career, by 2007 Romney and his wife had a net worth of between $190 and $250 million, most of it held in blind trusts. Although gone, Romney received a passive profit share as a retired partner in some Bain Capital entities. An additional blind trust existed in the name of the Romneys’ children and grandchildren that was valued at between $70 and $100 million.

    It’s clear that Romney could have taken more away from Bain Capital when he left. It seems that Romney’s compensation package was FAR LESS than it could have been. And how about taking a $1 dollar salary as CEO to turn around the company of the man who gave him his initial start?

    Twenty years after its inception, Bain Capital manages approximately $65 billion in assets, and has founded, acquired, or invested in hundreds of companies including AMC Entertainment, Brookstone, Burger King, Burlington Coat Factory, Domino’s Pizza, DoubleClick, Guitar Center, Hospital Corporation of America (HCA), Sealy, The Sports Authority, Toys R Us, Unisource, Warner Music Group and The Weather Channel.

    After reviewing his business background, coupled with his experience as a Governor, I have no doubt that Mitt Romney has all the talent needed to help rectify our bad economy. I can think of no other possible candidate that could bring this kind expertise to the Presidency and to make the necessary decisions needed to turn the U.S. economy around.


    -BOSMAN

    *Please Note: There were several sources to back up the facts from Wikipedia. If you follow the Wikipedia links above, you will have access to them.

    Page 1 of 41234