posted on July 18, 2012 15:25
My friend David Burney (of New Kind and Johnny Folsom Four fame) makes an insightful comment about Mitt Romney’s doomed struggle to separate himself from Bain Capital:
"The question as to whether or not he was the active CEO during a specific time when Bain shipped jobs overseas is irrelevant. Romney created a company whose sole purpose was to find opportunities to maximize profits by capturing and exploiting value by any means available them. To be clear, they did not create value, but they became experts in exploiting value. The mission and culture of the company was and is Romney's creation. He owns that. When it was legally allowed to ship jobs overseas, or shut down a perfectly healthy US company after drowning it in debt and after bilking it of millions of dollars in consulting fees, in order to maximize shareholder profits (Romney being the sole shareholder), then Bain did it."