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Mitt's Job Creator Claim? Laughable
2 years ago  ::  May 15, 2012 - 10:05PM #1
MajorYankFan
Posts: 9,938

Romney’s Claims on Bain Repeatedly Undermined and “Do Not Pass the Laugh Test”


Since Romney began running for political office two decades ago, he has consistently been criticized for false and misleading claims made about running Bain.


Romney has repeatedly claimed that he helped create over 100,000 jobs while at Bain. Romney’s claims on job creation are so absurd that the Washington Post wrote they “do not pass the laugh test” and Fortune Magazine called them “False.” That’s because Romney is taking credit for the current jobs at a company that he was involved in years ago and taking credit for another company’s growth over a 12-year period when he was involved for less than 2 months.  He went so far as to take credit for the current success of a company that has been bought and sold three times over two decades.


Even Sarah Palin and conservative media said Romney had not provided proof of the jobs he claimed to create.  The political action committee supporting Romney, Restore Our Future, simply told reporters they would not supply any information to back up the claim that Romney created jobs at Bain.


Romney’s repeated exaggerations and misleading statements on Bain leave him little credibility when he now tries to spin his business record.


READ MORE: Washington Post, “Mitt Romney and 100,000 jobs: an untenable figure,” 1/10/12


READ MORE: Factcheck.org, “Romney’s Shaky Job Claims,”1/5/12


READ MORE: Daily Beast, “Romney Uses Bogus Job Numbers,”1/3/12


READ MORE: Politico, “The black box that is Bain,” 1/11/12


READ MORE: Daily Caller, “Is Romney backtracking on his 100,000 jobs created claim?” 1/17/12


READ MORE: Think Progress, “Romney Camp Admits That Its Bain Job Creation Number Is Bogus,” 1/4/11

2 years ago  ::  May 15, 2012 - 10:22PM #2
Yankee1954
Posts: 8,749

May 15, 2012 -- 10:05PM, MajorYankFan wrote:


Romney’s Claims on Bain Repeatedly Undermined and “Do Not Pass the Laugh Test”


Since Romney began running for political office two decades ago, he has consistently been criticized for false and misleading claims made about running Bain.


Romney has repeatedly claimed that he helped create over 100,000 jobs while at Bain. Romney’s claims on job creation are so absurd that the Washington Post wrote they “do not pass the laugh test” and Fortune Magazine called them “False.” That’s because Romney is taking credit for the current jobs at a company that he was involved in years ago and taking credit for another company’s growth over a 12-year period when he was involved for less than 2 months.  He went so far as to take credit for the current success of a company that has been bought and sold three times over two decades.


Even Sarah Palin and conservative media said Romney had not provided proof of the jobs he claimed to create.  The political action committee supporting Romney, Restore Our Future, simply told reporters they would not supply any information to back up the claim that Romney created jobs at Bain.


Romney’s repeated exaggerations and misleading statements on Bain leave him little credibility when he now tries to spin his business record.


READ MORE: Washington Post, “Mitt Romney and 100,000 jobs: an untenable figure,” 1/10/12


READ MORE: Factcheck.org, “Romney’s Shaky Job Claims,”1/5/12


READ MORE: Daily Beast, “Romney Uses Bogus Job Numbers,”1/3/12


READ MORE: Politico, “The black box that is Bain,” 1/11/12


READ MORE: Daily Caller, “Is Romney backtracking on his 100,000 jobs created claim?” 1/17/12


READ MORE: Think Progress, “Romney Camp Admits That Its Bain Job Creation Number Is Bogus,” 1/4/11




Hey, just more lies from the greatest liar of all time. He tells more lies than he does truths.

2 years ago  ::  May 16, 2012 - 10:00PM #3
MajorYankFan
Posts: 9,938

Romney the Liar back to the big lie.


ROMNEY FLIPS BACK TO CLAIM THAT BAIN CAPITAL CREATED 100,000 JOBS |Presumptive Republican presidential nominee Mitt Romney is back to claiming that his former private equity firm, Bain Capital, helped create at least 100,000 jobs, telling conservative radio host Ed Morrisey that “we were able to help create over 100,000 jobs.” The Romney campaign used the 100,000 number at the outset of the campaign, then admitted it was bogus, started using it again, couldn’t answer challenges from reporters, and finally gave the number a massive downgrade to a mere “thousands” earlier this week. There’s still no evidence backing up the claim, other than a right-wing editorial endorsing Romney. An ad from Romney’s 1994 Senate campaign, meanwhile, claimed that the firm created 10,000 jobs — though there’s little evidence to support that either.

2 years ago  ::  May 17, 2012 - 12:30AM #4
Yankee1954
Posts: 8,749

May 16, 2012 -- 10:00PM, MajorYankFan wrote:


Romney the Liar back to the big lie.


ROMNEY FLIPS BACK TO CLAIM THAT BAIN CAPITAL CREATED 100,000 JOBS |Presumptive Republican presidential nominee Mitt Romney is back to claiming that his former private equity firm, Bain Capital, helped create at least 100,000 jobs, telling conservative radio host Ed Morrisey that “we were able to help create over 100,000 jobs.” The Romney campaign used the 100,000 number at the outset of the campaign, then admitted it was bogus, started using it again, couldn’t answer challenges from reporters, and finally gave the number a massive downgrade to a mere “thousands” earlier this week. There’s still no evidence backing up the claim, other than a right-wing editorial endorsing Romney. An ad from Romney’s 1994 Senate campaign, meanwhile, claimed that the firm created 10,000 jobs — though there’s little evidence to support that either.




He is a big LIAR!

2 years ago  ::  May 17, 2012 - 10:18AM #5
ldantoni84
Posts: 2,875

May 16, 2012 -- 10:00PM, MajorYankFan wrote:


Romney the Liar back to the big lie.


ROMNEY FLIPS BACK TO CLAIM THAT BAIN CAPITAL CREATED 100,000 JOBS |Presumptive Republican presidential nominee Mitt Romney is back to claiming that his former private equity firm, Bain Capital, helped create at least 100,000 jobs, telling conservative radio host Ed Morrisey that “we were able to help create over 100,000 jobs.” The Romney campaign used the 100,000 number at the outset of the campaign, then admitted it was bogus, started using it again, couldn’t answer challenges from reporters, and finally gave the number a massive downgrade to a mere “thousands” earlier this week. There’s still no evidence backing up the claim, other than a right-wing editorial endorsing Romney. An ad from Romney’s 1994 Senate campaign, meanwhile, claimed that the firm created 10,000 jobs — though there’s little evidence to support that either.




This is so offensive.  You really don't have a clue, do you?  Let me SET THE RECORD STRAIGHT.. SHALL I? Read.. LEARN:


How many jobs did Romney and Bain Capital create


There are two ways to look at job creation. The first is to look at jobs created and lost in Bain Capital’s companies at the time Romney left Bain Capital at the beginning of 1999. The second is to look at jobs created and lost in those same companies today. This gives Romney and Bain Capital credit for having invested in those companies when they were young. It is inappropriate to include companies that Bain Capital invested in after Romney left because he did not have any impact on those investments. So, we won't for purposes of this analogy. 


While it is difficult, if not impossible, to get employment data on all of Bain Capital’s investments, and not all of the data are perfect, it is possible to look at some of the successes and failures to get a sense of magnitudes.


Among Bain Capital’s investments under Romney, the large job creators are clearly Staples and Sports Authority. Both of these were small, young companies when Bain Capital invested in them. Bain invested in Staples when it had only one store, so there were likely fewer than 200 employees at the time. Bain appears to have invested in the Sports Authority when it had fewer than ten stores. Unfortunately, there are no public data to say how many people were employed at that time. At the end of 1998, Staples had more than 42,000 employees, Sports Authority had almost 14,000, Gartner Group had almost 3,000, and Steel Dynamics had over 500. So at the beginning of 1999, when Romney left Bain Capital, these four companies alone employed almost 60,000 total employees. While some of the job growth at Sports Authority came from acquisitions, there is no doubt that these four companies created tens of thousands of jobs over the period.


Fast forward to today. By the end of 2011, Staples had about 89,000 employees. Sports Authority is now a private company. The last time it reported employee numbers, in 2006, it had 14,300 employees. In addition, Gartner Group had over 4,400 and Steel Dynamics had over 6,000 employees. Using the most recently available data, these four companies alone employed almost 125,000 total employees.


Bain Capital also successfully turned around several existing businesses during Romney’s tenure. For example, Bain Capital bought Wesley Jessen Vision Care for $6 million in 1994. It had been a division of Schering Plough and was not profitable. Bain Capital and a new CEO turned it around and sold it to Ciba Geigy for over $300 million in 2001. When it was sold, it appears to have had 2,600 employees. Today, the company is part of Ciba Vision.


Overall, then, the companies Bain Capital funded under Romney have created tens of thousands of jobs using any measure.

WIN - THAT'S ALL!
2 years ago  ::  May 17, 2012 - 12:07PM #6
ArtVandelay
Posts: 15,857

May 17, 2012 -- 10:18AM, ldantoni84 wrote:


May 16, 2012 -- 10:00PM, MajorYankFan wrote:


Romney the Liar back to the big lie.


ROMNEY FLIPS BACK TO CLAIM THAT BAIN CAPITAL CREATED 100,000 JOBS |Presumptive Republican presidential nominee Mitt Romney is back to claiming that his former private equity firm, Bain Capital, helped create at least 100,000 jobs, telling conservative radio host Ed Morrisey that “we were able to help create over 100,000 jobs.” The Romney campaign used the 100,000 number at the outset of the campaign, then admitted it was bogus, started using it again, couldn’t answer challenges from reporters, and finally gave the number a massive downgrade to a mere “thousands” earlier this week. There’s still no evidence backing up the claim, other than a right-wing editorial endorsing Romney. An ad from Romney’s 1994 Senate campaign, meanwhile, claimed that the firm created 10,000 jobs — though there’s little evidence to support that either.




This is so offensive.  You really don't have a clue, do you?  Let me SET THE RECORD STRAIGHT.. SHALL I? Read.. LEARN:


How many jobs did Romney and Bain Capital create


There are two ways to look at job creation. The first is to look at jobs created and lost in Bain Capital’s companies at the time Romney left Bain Capital at the beginning of 1999. The second is to look at jobs created and lost in those same companies today. This gives Romney and Bain Capital credit for having invested in those companies when they were young. It is inappropriate to include companies that Bain Capital invested in after Romney left because he did not have any impact on those investments. So, we won't for purposes of this analogy. 


While it is difficult, if not impossible, to get employment data on all of Bain Capital’s investments, and not all of the data are perfect, it is possible to look at some of the successes and failures to get a sense of magnitudes.


Among Bain Capital’s investments under Romney, the large job creators are clearly Staples and Sports Authority. Both of these were small, young companies when Bain Capital invested in them. Bain invested in Staples when it had only one store, so there were likely fewer than 200 employees at the time. Bain appears to have invested in the Sports Authority when it had fewer than ten stores. Unfortunately, there are no public data to say how many people were employed at that time. At the end of 1998, Staples had more than 42,000 employees, Sports Authority had almost 14,000, Gartner Group had almost 3,000, and Steel Dynamics had over 500. So at the beginning of 1999, when Romney left Bain Capital, these four companies alone employed almost 60,000 total employees. While some of the job growth at Sports Authority came from acquisitions, there is no doubt that these four companies created tens of thousands of jobs over the period.


Fast forward to today. By the end of 2011, Staples had about 89,000 employees. Sports Authority is now a private company. The last time it reported employee numbers, in 2006, it had 14,300 employees. In addition, Gartner Group had over 4,400 and Steel Dynamics had over 6,000 employees. Using the most recently available data, these four companies alone employed almost 125,000 total employees.


Bain Capital also successfully turned around several existing businesses during Romney’s tenure. For example, Bain Capital bought Wesley Jessen Vision Care for $6 million in 1994. It had been a division of Schering Plough and was not profitable. Bain Capital and a new CEO turned it around and sold it to Ciba Geigy for over $300 million in 2001. When it was sold, it appears to have had 2,600 employees. Today, the company is part of Ciba Vision.


Overall, then, the companies Bain Capital funded under Romney have created tens of thousands of jobs using any measure.





toni you'd have better luck explaining quantum physics to a toad....  these two dopes are under the Obama spell.....

2 years ago  ::  May 17, 2012 - 1:16PM #7
Yankee1954
Posts: 8,749

May 17, 2012 -- 10:18AM, ldantoni84 wrote:


May 16, 2012 -- 10:00PM, MajorYankFan wrote:


Romney the Liar back to the big lie.


ROMNEY FLIPS BACK TO CLAIM THAT BAIN CAPITAL CREATED 100,000 JOBS |Presumptive Republican presidential nominee Mitt Romney is back to claiming that his former private equity firm, Bain Capital, helped create at least 100,000 jobs, telling conservative radio host Ed Morrisey that “we were able to help create over 100,000 jobs.” The Romney campaign used the 100,000 number at the outset of the campaign, then admitted it was bogus, started using it again, couldn’t answer challenges from reporters, and finally gave the number a massive downgrade to a mere “thousands” earlier this week. There’s still no evidence backing up the claim, other than a right-wing editorial endorsing Romney. An ad from Romney’s 1994 Senate campaign, meanwhile, claimed that the firm created 10,000 jobs — though there’s little evidence to support that either.




This is so offensive.  You really don't have a clue, do you?  Let me SET THE RECORD STRAIGHT.. SHALL I? Read.. LEARN:


How many jobs did Romney and Bain Capital create


There are two ways to look at job creation. The first is to look at jobs created and lost in Bain Capital’s companies at the time Romney left Bain Capital at the beginning of 1999. The second is to look at jobs created and lost in those same companies today. This gives Romney and Bain Capital credit for having invested in those companies when they were young. It is inappropriate to include companies that Bain Capital invested in after Romney left because he did not have any impact on those investments. So, we won't for purposes of this analogy. 


While it is difficult, if not impossible, to get employment data on all of Bain Capital’s investments, and not all of the data are perfect, it is possible to look at some of the successes and failures to get a sense of magnitudes.


Among Bain Capital’s investments under Romney, the large job creators are clearly Staples and Sports Authority. Both of these were small, young companies when Bain Capital invested in them. Bain invested in Staples when it had only one store, so there were likely fewer than 200 employees at the time. Bain appears to have invested in the Sports Authority when it had fewer than ten stores. Unfortunately, there are no public data to say how many people were employed at that time. At the end of 1998, Staples had more than 42,000 employees, Sports Authority had almost 14,000, Gartner Group had almost 3,000, and Steel Dynamics had over 500. So at the beginning of 1999, when Romney left Bain Capital, these four companies alone employed almost 60,000 total employees. While some of the job growth at Sports Authority came from acquisitions, there is no doubt that these four companies created tens of thousands of jobs over the period.


Fast forward to today. By the end of 2011, Staples had about 89,000 employees. Sports Authority is now a private company. The last time it reported employee numbers, in 2006, it had 14,300 employees. In addition, Gartner Group had over 4,400 and Steel Dynamics had over 6,000 employees. Using the most recently available data, these four companies alone employed almost 125,000 total employees.


Bain Capital also successfully turned around several existing businesses during Romney’s tenure. For example, Bain Capital bought Wesley Jessen Vision Care for $6 million in 1994. It had been a division of Schering Plough and was not profitable. Bain Capital and a new CEO turned it around and sold it to Ciba Geigy for over $300 million in 2001. When it was sold, it appears to have had 2,600 employees. Today, the company is part of Ciba Vision.


Overall, then, the companies Bain Capital funded under Romney have created tens of thousands of jobs using any measure.





Talk about twisting facts. Here are some facts that are "offensive". there is a difference in investing money in a company and creating jobs. Bain gave the company money to build their company. Because Bain gave it to them Romney should get credit for creating jobs? NO! The people that ran Staples should get cridit. Are you so naive to think that Romney did it to make his millions. Everywhere you take us to old Mittens made his money. thats why he did it. Not to create jobs.  How come no stories of other companies> The one's he bought, gutted, and resold for millions while those workers were out on the street. And guess who made the money? The ig shots at the companies and Mitt Romney. It's all about money, not job creation. Go into your local bank and ask for a loan at 1% interest. Tell them you are destitue, your kids need operations, your husband is in jail and you just lost lost your job. See if your local banker will feel sorry for you. BWAHAHAHAHA!!!!. Forget it, there is no money in it for them. How naive can you Cons get.

2 years ago  ::  May 20, 2012 - 12:08AM #8
MajorYankFan
Posts: 9,938
2 years ago  ::  May 20, 2012 - 8:55PM #9
MajorYankFan
Posts: 9,938

Cramer: Romney is ‘a job destroyer, not a creator’


www.rawstory.com/rs/2012/05/20/cramer-ro...


CNBC personality Jim Cramer provided an opinion Sunday morning that won’t be endorsed by Republican presumptive presidential nominee Mitt Romney, calling his time at Bain Capital as one more about firing than hiring people.


Appearing on Meet The Press in the roundtable segment, the Mad Money host differed with David Gregory’s perspective that Romney had a “real area of strength” over President Barack Obama on the economy. Gregory based his view on a recent ad from the Romney campaign that mentioned how the former Massachusetts governor would approve of the controversial Keystone pipeline if he was president.


“Romney is known as a job destoryer, not a creator,” Cramer said. “I just don’t think that this will stick, I think Bain sticks. I think the idea that you bring in Bain, which is what happened, in the 80′s. They fire people and that’s how they get prosperity for the rich.”

2 years ago  ::  May 22, 2012 - 10:09PM #10
MajorYankFan
Posts: 9,938

Mitt Romney and 100,000 jobs: an untenable figure


www.washingtonpost.com/blogs/fact-checke...


The Pinocchio Test

 Romney certainly has a good story to tell about knowing how to manage a business, spotting opportunities and understanding high finance. But if he is to continue to make claims about job creation, the Romney campaign needs to provide a real accounting of how many jobs were gained or lost through Bain Capital investments while the firm managed these companies — and while Romney was chief executive. Any jobs counted after either of those data points simply do not pass the laugh test.


Three Pinocchios

 

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