Bain Capital is a "venture capital" firm. What is a venture capital firm? A venture capital firm accumulates money from investors and invests that money into small, usually start-up companies. A struggling company (of its own free will and choice) would hire Bain Capital to help them thrive. As you can imagine, sometimes Bain can help them grow and sometimes they can't. Either way, Bain Capital doesn't do this work for free. Romney and Bain are being criticized for being paid for laying people off (of course, they never laid people off - the employer would always make the decision to close its doors or lay people off - not Bain).
And here's some commentary by my two favorite radio personalities:
http://www.glennbeck.com/2012/01/11/newts-legendary-flip-flop-on-romney/
Venture capital firms are GOOD. Without them, many huge companies today would not exist (including the ones that Romney saved like the often used example of Staples and Dominos). They finance risky companies through the money of investors who believe in the company and hope to help them thrive.
A new documentary from Newt Gingrich's "Winning Our Future" campaign uses misleading and flat-out false accusations to smear Mitt Romney. It also uses music, a deep narrator voice, and the tears of children and people who lost their jobs to make Romney and Bain look bad. It is despicable.
Here is the 28-minute documentary:
Here are a few of the lies debunked by CNNMoney:
And here's some commentary by my two favorite radio personalities:
http://www.glennbeck.com/2012/01/11/newts-legendary-flip-flop-on-romney/
Newt Gingrich obviously does not like Capitalism (the system which allows venture capital firms to exist) and for this reason I will not vote for Newt.
thank you for seeing past the lies of the media!
ReplyDeleteThanks for the links! Isn't it obvious that it would be better to have someone who has been wildly successful in business in the White House? Someone who understands the basics of our economy and job creation?
ReplyDeleteYes, along with success comes failure and people lose jobs - it is something we MUST be willing to accept in business in order to eventually succeed.
This is the part that worries me - I think many Americans have become "soft" - no one can fail - it is the worst thing and avoided at all costs, even at the cost of liberty. I see this in parents who freak out when their student fails a test or gets bad grades. Instead of helping the student to FULLY FEEL the impact of their decisions (yup, you really failed this term - wow - how does that feel? Do you like that feeling?) they minimize the failure, they pressure the school to minimize the failure, and they try "build up" the student's "self-esteem" when what the student really need is a good, solid dose of failure and how it feels so they can decide if they want to change their behaviors so they can succeed, or not.
I see this same pattern with companies that are "too big to fail" - the entire "bailout mentality" - it's everywhere in our society and it is killing our ability to truly know and understand success. Because if we minimize failure, we also tend to minimize the importance and the excitement of success. And that is a disaster.
Let's embrace and celebrate the success stories that made our economy the strongest in the world at one time! And let's fully allow the failures - no matter the scope - and let those failures teach us how to succeed.
I think my favorite of the three resources posted was the article on CNNMoney. This article seemed to be presenting facts as accurately as possible. Whether the video is true or not it was sure powerful. As I've been reading about venture capitalism it makes me wonder whether it's an honest endeavor even if it is a legal practice. I guess the responsibility lies with the original company's CEO to not sell his start-up company if he doesn't want it to be dissolved for profit--is this right? It's hard to believe that it's legal for a company to take over another company and fire everyone only to rehire them at a lower wage or not rehire them at all if they are pregnant. Man, our government and its systems seem so corrupt sometimes.
ReplyDeleteCompanies are dissolved if they cannot be profitable. Although this is unfortunate for the people involved with the company, think of it from a different standpoint. 1 person or a group of a few people start a company that they think will be competitive. They conveniently supply a few or a lot of jobs to people for a certain amount of time. From the start, the founders don't owe any jobs to anyone, but they are fortunate enough to be able to supply jobs to a few. If it is in the best interest of the founders to cease supplying those jobs, is that bad? I don't think that anyone owes anyone else a job. If you have a job, be grateful to the entrepreneur who created it for you. If you are let off, still be grateful that you were employed for that time, and if you cannot get a job, think about creating your own. I don't like the job-entitlement mindset that is circulating about the country right now. If you can't get a job, maybe try to be creative instead of spending your life living off of other people's creations.
DeleteHere's a relevant article by George Will:
ReplyDeletehttp://www.jewishworldreview.com/cols/will121411.php3