..."'If you've got a business, you didn't build that. Somebody else made that happen"

iVillage Member
Registered: 01-22-2000
..."'If you've got a business, you didn't build that. Somebody else made that happen"
56
Mon, 07-16-2012 - 10:30am

Are you serious????

This is where we are? The President of the United States makes this quote part of his reelection campaign?

America, if a majority buy into this, and do not reject it, the sun has set on us.

Sonny

iVillage Member
Registered: 03-03-2009

Racism isn't a "card".  In some quarters, it's a nasty fact and not always one which is limited to African Americans.  http://www.latimes.com/news/nation/nationnow/la-na-nn-soldier-suicide-court-martial-20120724,0,149250.story 

You may not personally be influenced by another's ethnicity but make no mistake, that doesn't mean all U.S. citizens are pure as driven snow when it comes to bigotry, racism, and hate-based prejudice. 

I have no idea what "spits" you refer to. 

Jabberwocka

iVillage Member
Registered: 03-03-2009

Well, I had my breakfast of nails and gunpowder; and a fine dinner of IEDs and RPGs.  So, yeah, I'm great. 

You'd have to ask the AP reporters who their sources were, and I'm not one of the sources nor one of the reporters.

As for the drumbeat of Bain, be careful what you wish for.  There's peril for Romey in parading his wealth and the "creative destruction" of jobs and companies when the nation he wishes to lead is toiling to find a way back to economic health after a devastating bout of ....... wait for it ......... chicanery in investment banks and companies; and subsequent major job loss. 

Jabberwocka

iVillage Member
Registered: 01-21-2006

At the moment, it doesn't appear that the Bain argument is working, as Romney's numbers are inching up in most polls.

The authors of the article posted have no credible sources, that's why they didn'[t name them . It was an article full of speculaion confided to the authors by faceless people, who probably don't exist. Well, except for the earth shattering revelation that Romney had attended a celebration with some friends many years ago in Florida.

Why is Romney's wealth suddenly an issue for those on the left. John Kerry is worth some $194 million and paid an effective tax rate of 13% in 2004, but no one on the left had any problem with that. It just seems so hypocritical, to suddenly feign concern about the wealthy not being able to relate to Americans.

shell

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iVillage Member
Registered: 03-03-2009

Reputable journalists and well-established networks like AP hew to more stringent standards of conduct than NewsCorp outlets.  "Credible sources" would have been expected by the editors, even if they weren't necessarily named in the story so your supposition is just that and nothing more. 

When Kerry ran for president, the nation was not slogging its way of the worst recession since the Great Depression.  I see no hypocrisy whatsoever in the everyday Joe wanting to know--"does this millionaire understand that my job went to China, my wife's job as a teacher is under fire, and my children might well have to be fed from a food pantry or through food stamps?"  IF Romney had more charisma, he might be able to bridge the gap as FDR did.  But the charisma isn't there, and Romney rather frequently reminds the public, albeit inadvertantly, that he was born with a silver spoon in his mouth and he still hasn't learned to take it out or talk around it. 

Jabberwocka

iVillage Member
Registered: 01-21-2006

It's not my "supposition" that there are no "facts" in that AP story that substantiate that Romeny was in an active role at Bain after 1999. They're just not there  It's an article based on "One close associate said....... an unnamed advisor said......", perhaps you consider that to be factual reporting, some would call it "hearsay",  It's a perfectly fine human interest piece, pandering to those who already believe the misinformation about Bain. Factcheck.org calls the accusations "untrue, thinly supported and lacking evidence". If you read the piece I linked to, Factcheck supports their position with facts, the important ones are even highlighted in gray and easy to find.  (The argument of Romney sending jobs overseas is also factually untrue,  yet you mention it again, as though it is?)

According to Factcheck.org  "And after reviewing evidence cited by the Obama campaign, we reaffirm our conclusion that Romney left the helm of Bain Capital when he took a leave of absence in 1999 to run the Salt Lake City Organizing Committee for the 2002 Winter Olympics – as he has said repeatedly — and never returned to active management. The Obama campaign’s recent ads thus mislead when they point to investments made by Bain, as well as management decisions made by companies in which Bain invested, after that time."

And they say......"......Romney was not responsible for shipping U.S. jobs overseas. We find the Obama campaign’s evidence to be weak or non-existent, and contrary to statements Romney has made on official disclosure forms under pain of federal prosecution.  And we suggest that should Obama campaign officials discover any actual evidence that Romney personally participated in any management decisions at Bain after February of 1999, they should produce it to a federal prosecutor."

 

You write.....-established networks like AP hew to more stringent standards of conduct than NewsCorp outlets."  You are basing that statement on what evidence? Perhaps this is your personal opinion?

I knew that you'd dismiss the obvious hypocrisy of the left in reference to John Kerry and his immense wealth and effective tax rate of 13%. It's exactly what I expected and I wasn't disappointed.

shell

 

 

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iVillage Member
Registered: 03-30-2007

The Bain Ads are working, here.     People know what it's like to see jobs exiting our state like flood waters.   

Kerry?   He's not running.   Besides his wife was wealthy and she wasn't running either.

 

iVillage Member
Registered: 01-21-2006

I am aware that Kerry is not running for POTUS, but when he was, the left didn't have any problem with his $200 million worth and low tax rate. It didn't matter that he was THAT rich. Now it's just a matter of convenience for those on the left to feign concern. (Kerry has announced his intent to run in 2014. I guess he won't have the support of the left based on his wealth?)

The national polls do not support that Obama ads are working, at this time. In fact, the latest ads have backed off the Bain theories. In my state, which is a battle ground state, It's a statistical tie between the two candidates.

It's well noted that Kerry did not create his own wealth. One of the things that impresses me about Romney is that he is a smart successful business man, who prefers to succeed on his own.

shell

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iVillage Member
Registered: 03-30-2007

Proof please.    I thought it was reported Kerry had like, 2-4 Million.    His wife, Teresa Heinz(yes, the Ketchup)Kerry was very wealthy.   As far as Kerry running again.   There is no Presidental Election in 2014.   We elect a President every four years.

iVillage Member
Registered: 03-03-2009

Your exact wording was this: "The authors of the article posted have no credible sources, that's why they didn'[t [sic] name them."  That is supposition and assumption.  Unless you have spoken directly to those reporters, your claim is baseless.  As for the "pandering comment", maybe you have had no contact with serious journalism.  When a reporter puts his or her name on a piece, in the world which once was and may no longer exist, that byline meant a reporter's reputation for accuracy and truthfulness was being staked.  A reporter/journalist caught padding facts or changing them entirely has no integrity.  Those found doing so have been stripped of peer recognition and prizes (like the Pulitzer).   Outlets like NewsCorp have since blurred, and in some cases, totally eliminated the line between propaganda and fact.  Maybe AP has gone that route too.  I don't know but certainly hope it has not. 

On April 17, 1998, Brookside Capital Partners Fund, a Bain Capital affiliate, filed a report with the Securities and Exchange Commission noting that it had acquired 6.13 percent of Hong Kong-based Global-Tech Appliances, which manufactured household appliances in a production facility in the industrial city of Dongguan, China. That August, according to another SEC filing, Brookside upped its interest in Global-Tech to 10.3 percent. Both SEC filings identified Romney as the person in control of this investment: "Mr. W. Mitt Romney is the sole shareholder, sole director, President and Chief Executive Officer of Brookside Inc. and thus is the controlling person of Brookside Inc." Each of these documents was signed by Domenic Ferrante, a managing director of Brookside and Bain.

The SEC filings do not reveal how much Romney initially invested in Global-Tech (which is now known as Global-Tech Advanced Innovations). But Brookside first acquired 748,000 shares at a time when Global-Tech was mounting an IPO at $19 a share. If that was the purchase price Brookside paid, then Romney's firm originally invested $14.2 million in the company.

At the time Romney was acquiring shares in Global-Tech, the firm publicly acknowledged that its strategy was to profit from prominent US companies outsourcing production abroad. On September 4, 1998, Global-Tech issued a press release announcing it was postponing completion of a $30 million expansion of its Dongguan facility because Sunbeam, a prominent American consumer products company and a major client of Global-Tech, was cutting back on outsourcing as part of an overall consolidation. But John C.K. Sham, Global-Tech's president and CEO, said, "Although it appears that customers such as Sunbeam are not outsourcing their manufacturing as quickly as we had anticipated, we still believe that the long-term trend toward outsourcing will continue." Global-Tech, which in mid-1998 announced fiscal year sales of $118.3 million (an increase of 89 percent over the previous year), also manufactured household appliances for Hamilton Beach, Mr. Coffee, Proctor-Silex, Revlon, and Vidal Sassoon, and its chief exec was hoping for more outsourcing from these and other American firms.  http://www.motherjones.com/politics/2012/07/bain-capital-mitt-romney-outsourcing-china-global-tech.  

I looked at the FactCheck website.  Apparently, they're parsing the difference between Romney being at Bain and running it.  His name is on SEC paperwork filed during the period in question.  Direct quote from FactCheck:  Romney retained ownership and corporate titles at Bain for a time after he took a hurried leave of absence on Feb. 11, 1999, to manage the 2002 Winter Olympics. That has been shown by any number of routine corporate disclosures with the Securities and Exchange Commission, and Romney even signed some of them:  Which at least for me, begs the question.  Does the SEC accept documents signed by people who are not running the company in question, and if so, why?

Concerning your last paragraph--not sure what that was about.  Possibly an attempt to ignore the difference in economic conditions of Kerry's 2004 run for office; and the current conditions.  Hypocrisy, my fanny. 

Jabberwocka

iVillage Member
Registered: 01-21-2006

John Kerry's wealth is pretty well documented. According to the NYT, which obtained its numbers from the senate financial disclosure report filed by Kerry.  His minimum net worth is $158,643,501. His maximum net worth is $258,959,049. Making his mean net worth $208,643,501.

I guess I should have written" Kerry has announced his intent to run for senate re-election in 2014". I was working under the assumption that we are all aware that he is a senator, holds a six year term and is up for senate re-election in 2014, since there is no presidential election that year.  Sorry, I shouldn't have considered that a "given".

shell

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