Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : Mainstream Politics and Economics -- Ignore unavailable to you. Want to Upgrade?

To: Paul Smith who wrote (6577)	1/8/2012 4:36:54 PM
From: puborectalis	1 Recommendation Read Replies (2) \| Respond to of 85487

Romney is a wheeler dealer ala Wall Street excelling in the LBO........Bain Capital's leveraged buyouts sometimes led to layoffs, either soon after acquisition or later after the firm had left. Bain Capital officials later said that overall, more jobs were added than lost due to these buyouts, but a lack of available records makes such assertions unverifiable. In any case, maximizing the value of acquired companies and the return to Bain's investors, not job creation, was the firm's fundamental goal, as it was for most private equity operations. [55] [50] Regarding job losses, 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." Being president is not like running a Wall Street LBO outfit. As for the Olympics....... An examination of the three years Romney spent in Salt Lake reveals a man somewhat different from the often-wooden candidate on the stump this year. Back then, according to interviews with colleagues and friends, he joked easily with his staff and showed a warm personal side. But Romney also displayed sharp, even ruthless, political instincts as he worked to salvage the Games. Critics say he stage-managed these efforts to burnish his own image, at the expense of others. He calculated the effect of every action, from urging his senior staff to smile to cancelling the five-star lifestyle that went with Olympic management. He also worked behind closed doors to pressure the man who had organized the city's bid for the games to plead guilty on charges that eventually were tossed out of court. No one disputes that, in the end, the 2002 Winter Games were a brilliant success. But some argue that Utah's deep tradition of volunteerism, widespread support for the Olympic bid in the state and in the Mormon Church, and the global outpouring of goodwill -- and cash -- that followed the tragedy of the 9/11 terror attacks deserve much of the credit. "Any well trained chimpanzee could have come in and had a successful Olympics," said Doug Foxley, a Salt Lake City lobbyist and former adviser to Romney's presidential rival Jon Huntsman, Jr.