The focus on Bain Capital and its records is sharpening today as the company released a message stating that 80% of the 350 company's that it invested in while Mitt Romney was at the helm made money! This would interpolate out to the apparent fact that 70 of them did not make money. It does not also take into account those that might have barely made money. We suppose that the line of argument that follows from this is that, under a Romney presidency, 20% of the people of the nation might be left out. The real question here is simply this: What would Romney do with that 20%?
President Obama addressed this issue in his press conference this afternoon at the conclusion of the NATO summit in Chicago. He said that Romney's main focus as CEO of Bain was not the creation of jobs but the making of money for his shareholders. The president said that there was nothing wrong with this but that the presidency is a job in which the president must see that everyone has a path to a decent living, not just some of the people. As we stated in the piece this morning, Romney did a fine job for his shareholders and himself when his company averaged 88% return on equity per year during the fourteen years that Romney was at its head. It is also interesting to note that the latest Gallop Poll shows Obama at 48% and Romney at 47% on ability to handle the jobs issue.
IOVHO,
Regards,
Joe
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