Joe T Chyle, Pisek, N.D., Published August 29 2012
Letter: Romney plan anathema for USMitt Romney claims his experience at Bain Capital will help him create jobs in America and help him to run this country. He likes to put himself in the same category as Steve Jobs or Bill Gates.
There are very few similarities between an entrepreneur who starts a business with a passion for his product or service and who has a long-term vision for his company, and a venture capitalist who sees an opportunity to make money by buying someone else’s business. Entrepreneurs and small- business owners are in it for the long term. The venture capitalist’s main goal is short term: to maximize profits for his investors. If this means cutting workers and worker pay and benefits, so be it. If it means borrowing money against the company and loading it up with debt, and then selling it off to languish in bankruptcy, so be it. If it means firing all the workers and moving the company to China or India, it’s just a business decision. The investors are only concerned with near-term profits and have no concern for the long-term future of the company.
Romney would run America like he did Bain. He would maximize profits for his investors like the Koch brothers, Sheldon Adelson, Karl Rove, etc., while decimating the working class. Romney’s experience at Bain would help him run this country into the ground.