The answer is zero, nada, zip, not a one.
Now we know the claims that he created over
100,000 jobs while at Bain. But job creation is not what Bain Capital is or was
about. The language in one prospectus seeking Bain Capital investors was very
clear: “The objective of the Fund is to achieve an annual rate of return on
invested capital in excess of the returns generated” by other investments. Job
creation was merely a product of their venture which was to make money for folk
with money to invest. Romney worked to make money not jobs. He says it’s all
about jobs, but his experience says it’s all about the money.
True, they made good investments such as
Staples which in turn hired a lot of people. But one also has to wonder at how
many small businesses went out of business because of
this mega business. Do the super stores create more jobs and enhance small
businesses? Go look at small towns or bigger towns for that matter, and all the
closed up stores that used to be filled with small businesses serving their communities
and hiring local folk.
In my world it sounds like the evangelical
preachers who brag about how many Christians they saved. The answer is the same
they did not save on single solitary person. Jesus the Christ saves people, not
egotistical preachers.
Romney bought and sold companies.
ReplyDeleteLehman Brothers bought and sold companies.
In the jobs picture, it is deceptive and incorrect and unsound to blame Bain or Romney for the poor decisions competing businesses made. Romney and Bain are only responsible for the companies they were involved in, and according to the fact checkers, tens of thousands of jobs were created (NET) by them.
ReplyDeleteTo answer this question: "Do the super stores create more jobs and enhance small businesses? "
They create more jobs due to their size. They do nothing for or against small business because they do not control them. It is the small business owners who are responsible for what goes on there.
"Go look at small towns or bigger towns for that matter, and all the closed up stores that used to be filled with small businesses serving their communities and hiring local folk."
For this, you need to blame the small business owners who made bad decisions and killed their businesses. OR sometimes the government, that taxed the hell out of them. You can't blame the supercenters. They did none of this.
As for your specific example, why not go to Detroit? All the closed up stores and local businesses; and it was that way LONG before there were Walmarts.