Why Romney’s Record at Bain Capital Hurts His Credibility

I have to say the 2012 GOP Primary is one of the most interesting races I’ve seen in a while. The drama never stops. Mitt Romney is on the hot seat right now for his frequent gaffes and his career at Bain Capital.

Romney’s Credibility Questioned

Having won both the Iowa Caucus and New Hampshire primaries, Mitt Romney is hoping to ride the wave to victory in South Carolina . Yet, growing dissent and a slew of attack ads slated for release before next weeks primary about Romney’s Bain Capital tenure could diminish his lead in South Carolina. At Bain Capital , Romney led the private equity firm in investing in troubled companies to turn them into profitable enterprises.

Romney often touts his record in business and believes this makes him the best choice to beat President Obama. However, Romney’s track record has raised questions about his credibility and if elected, whether his policies will reflect conservative values.

Bain Capital Backlash

Romney is experiencing difficulty convincing conservative voters that he has their best interest and will keep his promises if elected in the general election. To curb the growing suspicion about his record, Romney is using former opponents including 2008 GOP Presidential nominee John McCain to rally support for his campaign. McCain’s endorsement may be questionable considering Romney’s record in the private sector.

1. Romney’s role at Bain Capital could hamper his performance in the upcoming primary particularly if GOP opponents are effective in painting Romney as an out of touch, ruthless business man. Making bets for $10,000 with Governor Rick Perry during a live debate is another example of Romney’s ability to connect to the average American.

2. GOP opponents including Romney are branding President Obama as weak on foreign policy. Obama’s policies, including limiting big government and health care legislation has done little and he has failed to create jobs to get Americans back to work. Romney however, while at Bain Capital, profited from several businesses going under resulting in job losses for employees of companies Bain Capital was brought in to turn around.

3. Romney’s comment “I like being able to fire people” was taken out of context but the sentiment is questionable. Romney was referring to Americans being able to select health care providers. At times corporate leaders have to make tough decisions and do what is best for the business and sometimes that means work force reduction. However, saying “I like to fire people” is suspect and makes people wonder whether Romney is serious about helping Americans get back to work.

4. Romney has accused President Obama of not being ineffective leader who is running out of excuses. Romney acknowledged, President Obama did not cause the economic downturn of the past few years, however the President’s efforts to restore America’s faith in economy is dismal.

Although Romney’s can count Staples, Dominoes Pizza and Sports Authority as a win, his tenure at Bain Capital is tainted littered with several companies filing for bankruptcy, job reductions and business closings.

This does little to build Romney’s credibility as an executive with a proven track record of creating jobs. This does little to build American voters confidence that Romney will be the kind the leader who can turn American economy around.

Sources

South Carolina Primary Holds ‘Bloody Mess’ For Mitt Romney After Big New Hampshire Win, Huffington Post

Mitt Romney: ‘I Like Being Able To Fire People’ Who Don’t Provide Adequate Services, Huffington Post

Mitt Romney, Bain Capital and the gospel of ‘creative destruction’, Washington Post


More from Sandra:
Romney Tax Cuts – Gives Wealthy a Big Pay Day


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