Monday, January 09, 2012

Defending Romney's Bain Tenure

The latest excuse for primary voters to oppose Mitt Romney is his tenure with Bain Capital and the dealings that took place during his near fifteen years with the company, which he helped to found.

Bain's purpose was to invest in up start companies, buy out financially troubled firms and even shut down the unsound businesses. During his tenure Romney oversaw the investment in Staples, which exploded from one locally owned store in the 1980's to well over one thousand nationwide today.

But constant success isn't possible for any company, and Bain is no exception. The company bought firms and businesses out that performed poorly, and lay offs were necessary, while other times they saved thousands of jobs. Such is your scorecard when you're investing in the private sector, where no outcome is assured.

Romney set the groundwork for Bain, which has gone on to invest or purchase Toys R Us, Domino's Pizza, The Weather Channel and The Sports Authority.

I don't see the trouble with his record at Bain. Some investments succeeded and others failed; people were hired and some were fired. That's our private sector and Romney did his best to make everyone succeed during his tenure - he doesn't deserve ridicule for taking the capitalist's risk of investing and sometimes failing.

What say you?

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