"Romney Derangement Syndrome" and the Battle of Bain Capital

[oxcoug]

Wah wah wee wow - this is some v effective pushback on the Gingrich/Perry attack on Bain.

A Mike Huckabee defense of Romney - all in Mike's voice.

http://www.youtube.com/watch?v=36-WCEYVYQM&feature=youtu.be

Comes off almost like he authorized the ad.

[myboynoah]

Below is an excerpt from a letter to the Wash Post fact checker from the Executive Officer of DDi, one of the firms featured as being devastated by Bain in the angry fat hobbit's PAC's video:

Today we are a significant presence in the electronics manufacturing industry, with an unusual US centric business model despite the industry having largely moved off-shore to low cost regions of the world, principally China. We have six plants in the US (2 in California, 2 in Ohio, 1 in Colorado and Virginia each) and one in Canada. Currently, DDi is profitable, generating cash and re-investing our cash flow into our facilities and our people. We are bringing technical innovation to the market and serving over 1,000 customers. Further, we are paying a dividend to our shareholders to reward them for their support and trust in our company.

All of this would not have been possible without the financial support of this country’s capital markets, including private equity. This includes Bain Capital. It should be noted that, in 2005 when DDi raised equity capital from our current shareholders to pay off all of our remaining outstanding debt, a Bain fund invested into the common stock of DDi in support of the business. Without our shareholders’ support, DDi may have disappeared or been forced to move to a low cost region of the world. If so, the life support for our employees would have also disappeared. This did not happen. On behalf of our employees, I am grateful for the support of our shareholders.

None of this was addressed in the PAC’s video, as I assume a full and fair portrayal of DDi would not serve the political interests of their candidate. I believe this is basic dishonesty, the impact of which impacts DDi and certainly does not positively help in our ability to compete in the domestic and global markets. I can assure you that American electronics manufacturers have enough challenges in today’s globalized industry that we do not need our politicians mischaracterizing our company in the national media.

I have tried to contact the PAC using their phone number listed on their web site, yet calls do not go through. If you have a way that I can contact them, I would appreciate your sharing it with me. One would think that today’s politicians would be interested in helping a company like DDi, as an positive example of US manufacturer who is not out-sourcing jobs overseas. I suppose this all comes after their personal political interests.

More ‘King of Bain’ misstatements

[Eddie]

Below is an excerpt from a letter to the Wash Post fact checker from the Executive Officer of DDi, one of the firms featured as being devastated by Bain in the angry fat hobbit's PAC's video:

Today we are a significant presence in the electronics manufacturing industry, with an unusual US centric business model despite the industry having largely moved off-shore to low cost regions of the world, principally China. We have six plants in the US (2 in California, 2 in Ohio, 1 in Colorado and Virginia each) and one in Canada. Currently, DDi is profitable, generating cash and re-investing our cash flow into our facilities and our people. We are bringing technical innovation to the market and serving over 1,000 customers. Further, we are paying a dividend to our shareholders to reward them for their support and trust in our company.

All of this would not have been possible without the financial support of this country’s capital markets, including private equity. This includes Bain Capital. It should be noted that, in 2005 when DDi raised equity capital from our current shareholders to pay off all of our remaining outstanding debt, a Bain fund invested into the common stock of DDi in support of the business. Without our shareholders’ support, DDi may have disappeared or been forced to move to a low cost region of the world. If so, the life support for our employees would have also disappeared. This did not happen. On behalf of our employees, I am grateful for the support of our shareholders.

None of this was addressed in the PAC’s video, as I assume a full and fair portrayal of DDi would not serve the political interests of their candidate. I believe this is basic dishonesty, the impact of which impacts DDi and certainly does not positively help in our ability to compete in the domestic and global markets. I can assure you that American electronics manufacturers have enough challenges in today’s globalized industry that we do not need our politicians mischaracterizing our company in the national media.

I have tried to contact the PAC using their phone number listed on their web site, yet calls do not go through. If you have a way that I can contact them, I would appreciate your sharing it with me. One would think that today’s politicians would be interested in helping a company like DDi, as an positive example of US manufacturer who is not out-sourcing jobs overseas. I suppose this all comes after their personal political interests.

More ‘King of Bain’ misstatements

I think this is the most interesting part - the potential harm done to DDi by a candidate who is insisting that the company was destroyed by Bain. If that is the story being told far and wide by politicians regarding the company - how does that influence any future business deals? Ability to bid for contracts? By telling the world that they have been used up and wrung out as a company in order for Bain to take their money and leave - who would want to do business with this company in the future?

[oxcoug]

I was thinking of starting another thread w/ the header "Mitt, Poverty & Opportunity" but realized that it's really an extension of this conversation.

Whatever anyone says, the Romney campaign will have a major problem with the perception that its candidate is a ruck muh fuh who doesn't give a hamster's ass abt poor people. He has personally given them abundant material out of which to create and reinforce this perception. Almost all unforced errors.

I think Mitt needs to tackle this aggressively and make the messaging the core of his campaign going forward - the opportunity society IS the answer to poverty - it's the bridge out of poverty - I think he needs to develop a major policy speech that stitches together some of these themes attached to specific policy recommendations: (a) the job of an opportunity society is to build bridges and byways out of poverty and into the middle class, (b) a prosperous middle class opens up those pathways for people in the working class, (c) government does more to facilitate upward mobility in the working class by doing less to inhibit capital and innovation in the middle classes (d) education reform is crucial - and that the current lack of choice and accountability in education is stifling upward mobility and (e) strengthening families is also crucial to reducing poverty.

He effed it up pretty good with that comment yesterday but I think he can turn it around into a positive if he takes it head on.

The other thing is - he needs to do a Newt and be a little pissed off next time this comes up - "John, OF COURSE I care about the very poor - I care very deeply about them and it's ludicrous for anyone to suggest otherwise - my comments were poorly articulated and that's my fault but what I meant is very simple: The drivers of innovation and opportunity typically spring from the middle class - by creating a healthy, prosperous middle class we build new bridges out of poverty and into prosperity - my campaign's policy focus is on engineering those bridges and helping people who crave opportunity to find them."

[San Juan Sun]

I'm reading the comments at Hotair about Romney being up 20% in Nevada. Several comments dismissing his lead as coming from wealthy Nevada Mormons.

Same logic applies to evangelicals for Santorum in Iowa or idiots for Gingrich in SC.

[RobinFinderson]

The Daily Show did an informative segment on Bain:

http://www.thedailyshow.com/watch/tue-january-31-2012/indecision-2012---bain-man

[Moliere]

I was thinking of starting another thread w/ the header "Mitt, Poverty & Opportunity" but realized that it's really an extension of this conversation.

Whatever anyone says, the Romney campaign will have a major problem with the perception that its candidate is a ruck muh fuh who doesn't give a hamster's ass abt poor people. He has personally given them abundant material out of which to create and reinforce this perception. Almost all unforced errors.

I think Mitt needs to tackle this aggressively and make the messaging the core of his campaign going forward - the opportunity society IS the answer to poverty - it's the bridge out of poverty - I think he needs to develop a major policy speech that stitches together some of these themes attached to specific policy recommendations: (a) the job of an opportunity society is to build bridges and byways out of poverty and into the middle class, (b) a prosperous middle class opens up those pathways for people in the working class, (c) government does more to facilitate upward mobility in the working class by doing less to inhibit capital and innovation in the middle classes (d) education reform is crucial - and that the current lack of choice and accountability in education is stifling upward mobility and (e) strengthening families is also crucial to reducing poverty.

He effed it up pretty good with that comment yesterday but I think he can turn it around into a positive if he takes it head on.

The other thing is - he needs to do a Newt and be a little pissed off next time this comes up - "John, OF COURSE I care about the very poor - I care very deeply about them and it's ludicrous for anyone to suggest otherwise - my comments were poorly articulated and that's my fault but what I meant is very simple: The drivers of innovation and opportunity typically spring from the middle class - by creating a healthy, prosperous middle class we build new bridges out of poverty and into prosperity - my campaign's policy focus is on engineering those bridges and helping people who crave opportunity to find them."

It'll be interesting to see how his all plays out. With record numbers of people out of work or underemployed I do wonder if people will still be looking for a handout (Obama) or an opportunity (Romney). Something tells me handouts usually win the day.

[RobinFinderson]

How do we embed DailyShow clips?

http://www.thedailyshow.com/watch/tue-january-31-2012/indecision-2012---bain-man

Edit: Sorry for reposting... just trying to get the video to embed.