The Bain-Fisher Effect: When Romney Visited Marshalltown, Iowa

by Nomad

I

n the clip below from a recent interview for a local Iowa radio station, we hear Romney doing what Romney likes best- talking about Romney and his love for the common people. He talks about his familiarity with the area, throwing in a lot of famous local landmarks to improve an illusion of sincerity and personal connection. 

More interestingly, he explains to the DJ how he himself once worked in Marshalltown, Iowa as a consultant. He mentions that he worked with a company called Fisher Controls.

http://bit.ly/PHMmfj

So I decided to take a moment to look into the history of Fisher Controls. 

A Closer Look at Romney’s Surrogates: John H. Sununu 1/3

by Nomad

Here's a three-part post about a man who has appeared on Fox News lately, declaring himself to be Mitt Romney "surrogate." Who is John Sununu and what was his history? It's worth taking a closer look.

The Importance of Being a Surrogate

When you study a candidate for high office, it's sometimes easy to forget that behind that person is a team of advisers who influence each and every one of his decisions. 

Conversely, it is important to note the kind of person that the candidate attracts.

So when it comes to Mitt Romney, it's fair to take a closer look at the people Romney surrounds himself with and who listens to. Should Romney win in November, it is quite possible that these people will form part of his cabinet or his personal staff. In this series, we will look at one such person, John H. Sununu. 

Apparently John Sununu is not exactly an official representative of Mitt Romney. He doesn’t seem to have any actual position in the campaign, as far I could tell. 

He is usually called “a key Romney surrogate”- which seems to mean somebody goes and talks to the media, promoting- and in Romney’s case, generally defending- the candidate. Presumably, these are people who are so in tune with their man that they can speak for him.

On the other hand, from Romney’s point of view, the use of so-called surrogates is exceedingly practical, since his opinion can change at any given moment.,And there’s one major advantage of being a surrogate- as opposed to an official spokesperson. In that surrogate position, you can make any kind of specious and ridiculous claim and the candidate doesn’t have to take any responsibility for the remarks.

Bad Karma: How Romney's Bain Capital Worked its Magic on Clear Channel Communications

 by Nomad

In an amazing twist, Mitt Romney's former hedge fund management may be the thing that kills off a major supply of hate on the radio.

Splashing Cash

Just saw this good news article about the slow inevitable sinking of Rush Limbaugh and the perfect storm mounting against right-wing hate radio. As you probably have heard, the campaign against Limbaugh has been effective at getting big name corporations from providing advertising revenue for the promoters of controversial radio show host.

According to the article,

(A)nother threat to Rush Limbaugh, Sean Hannity, Glenn Beck, Michael Savage, et al, looms on the horizon, and comes from a very different direction: vulture capital.

None other than Mitt Romney's Bain Capital owns Clear Channel, which is the parent of the conservative talkers' syndicator, Premiere Networks. Clear Channel recently downsized, simultaneous with Bain Capital squeezing the company through a forced 2.2 billion dollar dividend. (This is one of the mechanisms by which Mitt Romney and friends have amassed their fortunes -- sucking cash out of troubled corporations, subsequently allowing some of them to go bankrupt.) Clear Channel was already 19.2 billion dollars in debt, and is facing a shareholder lawsuit related to loans between different Clear Channel entities that were used to cover the huge payout. In spite of crushing debt, Clear Channel is "splashing the cash" in "an attempt to rebrand itself as a hip digital music giant."

The move away from controversy cannot be very good news for the likes of Limbaugh. Hip is not really his thing. Not to worry too much; the devil takes care of his own (for the most part) and Rush is no exception. 

Mitt Romney and The Ampad Affair: A Bain Success Story

by Nomad

T

here’s an old saying that you can judge a tree but by the fruit it produces. For people it is a case of looking at the actions and not merely by the words. That’s especially true with politicians.

In the Republican party’s presumptive nominee Mitt Romney’s case, if the things he has said can be pretty awful, his past actions are generally far worse. As a corporate head, his treatment of the American worker offers a clear picture of the kind of disdain, or at least, indifference, he harbors for the working class. In July 1994, a Bain-controlled paper company Ampad purchased a Marion Indiana paper plant. 

Two years before, Bain Capital saw Ampad as a troubled company in a thriving market, and so, began the process of restructuring, reducing waste and whatever else was needed with aim of taking the company public. In turn, as it had done with many companies, Bain would sell the stock of newly revitalized Ampad at a profit. 

This is what equity companies do. They buy companies with problems and after increasing their value, then sell them. There are many ways to boost profits, including cost-cutting, modernizing plants, adding products, expanding into new markets, and acquiring similar companies. It might even require hiring more workers. But that wasn’t the case in Ampad.

The Republican Party’s Problem Child: We Need to Talk about Mitt

by Nomad

I f you have been following the latest campaign news, you have undoubtedly heard that the presumptive nominee has finally got himself in what I call, the classic liar’s bind. 

That is, he has told so many different lies to so many people (and under oath as well) that there is now no possible way that any of them can be plausibly fit together into a “workable” truth. In short, the man the Republicans are counting on to put them back into power is an unmitigated mess. 

His timeline about when he left Bain Capital has recently been cast in significant doubt. Again. 

From the latest news, it seems as though he has lied under oath to either the SEC or the Massachusetts Ballot Law Commission. And if those reports are true that he was still involved in the decision making at Bain Capital, it opens a whole Pandora’s Box of problems. Bain’s corporate behavior after 1999 regarding closing of American companies, firing of American workers and outsourcing to China and Mexico will all undermine his claims of being a job creator. (For a examination of that issue click here and here.. and here.)

Pro-Life Supporters Should be Thinking Twice about Voting for Romney

by Nomad

The handlers of Mitt Romney, the presumptive Republican nominee in this year's election, have always had a serious conundrum when it came to the topic of abortion. While running for governor in 1994, his pro-choice stand was about as unequivocal as any liberal politician can be. Only he wasn't liberal. It was a transparent strategy to rob his opponent Edward Kennedy of his left wing support. (Romney is nothing if not ambitious.)

During the debate with Kennedy, Romney got up-close and personal with the audience, revealing how a relative had died as a result of a backstreet abortion. Kennedy’s reaction was bemusement with a touch of amusement. He replied that Romney’s position kept changing. Was he pro-choice or was his pro-life and finally labeled Romney “the multiple-choice candidate.”

Romney, clearly irked, demanded a chance to respond. This topic was one, he said, that he would never be changing his position on. This was rock solid. He was without any question and forever pro-choice.
Then, a funny thing happened on the way to the White House. He became pro-life.
Just like that. 

Spinning it like a potter’s wheel, Romney fobbed the contradiction off as an “evolving” opinion. (A concept most of the conservatives apparently don't put much faith in.)
With the cowardly mainstream media in tow in this presidential election, the Republican conservative elite somehow managed to deflect and to distract. The pro-life faction of the conservative right wing were assured that all was in order; that despite his heart-felt statements back in 1994, he was really (no, REALLY!) against abortion. This Romney is not the same as THAT Romney.

Stericycle- Money over Principle?

Then there came the Stericycle problem.