Private venture capital companies, and capitalism itself for that matter, is not about saving nor creating jobs. It is about creating new sources of revenues and profits. Those revenues and profits are the engine that will ultimately create new jobs. Sometimes it is necessary to engage in creative destruction to open up these new sources of revenue. It seems that the Obama acolytes have no clear understanding of this fundamental role of capitalism.

If Romney is going to talk about the failed alternative energy plant investment, then the Georgetown steel mill is fair game, too. Bain bought a company making profits with steady employment. They replaced all the long-time managers with people who had no idea how to run a steel mill. They stopped maintaining the equipment. They charged the company hefty fees for this new management. Bain kept piling on more and more debt on this company, and finally they dumped it to bankruptcy. Bain got millions while the pensions were picked up by the federal gov't because the company was bankrupt. That is definitely creative destruction. Bain took all the revenue for itself until there was nothing left. If that is the fundamental role of capitalism, then capitalism is doomed.

http://www.myrtlebeachonline.com/2012/01/13/2599863/romneys-bain-capital-made-millions.html

Romney can talk about creating jobs...but I HAD a job working for a company that Bain purchased. Romney personally took credit for running the company. Bain expanded our existing facility and bought in expenisve equipment. It all looked great. Next thing we knew the company was up for sale. It sold to a new company and all who had jobs lost them. Little did we know that Bain was forcing illegal medical testing under our noses.

Its all true... we lost jobs and Bain capitalized illegally. Of course Mitt Claimed he knew nothing of the scam even though he took credit for running the company.

Damon Clinical Labs...1989 - 1994.

Bain Bought company, turned profit....people lost jobs.

He will not get my vote....

http://www.redstate.com/williamjameson/2012/01/20/mitt-romney-involved-in-medicare-fraud/

How many jobs were lost at GM and Chrysler factories and dealerships when Obama bought those two companies?

I don't have time now (got to go to work) but will later on bring this up when I get back. The difference between one and the other is that private entities are not playing with taxpayer money - the government is. When the government loses, they lose our money. I think if people really look over the history in businesses that created millions of jobs, they'll see that that's how business works - ebbs and flows; gains and losses. To focus on only losses is to not show the whole picture and is ingenuous. How many back in the day worked for GM only to be laid off? Business has always operated that way. Later.

Does anybody know what Mitt's job was? Like what did he do day to day? Did he tell other people what to do? Did his Dad get him the job? Did he decide which companies were sold, which abandoned, which grew and how? He seems very afraid of anything that isn't a generality.

Disingenuous. Oops!

Watch out!!! Someone might think that's a bad word and delete your post! :-))

Uninformative. Desultory!

Well, ingenuous and DISingenuous are two totally different things lol.

LK asks, "Does anyone know what Mitt Romney's job was?" This is too easy, especially if you're going to compare to the current president. The Bain story is not about whether Romney would run the government like a business, but rather that Romney, unlike Obama, has the experience in the private sector to understand how government can help, or hinder the economy. What do you think a Governor does? Compare that to a Senator. A Governor has excellent experience in actually governing. Harvard graduates can make good grades, but how does that give them experience? It doesn't. Being a Governor is just that, experience. Now the question is whether Romney has the wisdom and humility to learn from mistakes and apply what he's learned (before he takes the oval office). I'd rather have someone like that as leader than someone who is controlled by the likes of Nancy Pelosi and Harry Reid. Those two (who refused to listen to Bush concerning the housing crisis he tried to warn them about) were the downfall of the Obama presidency, in my opinion.

Sen. Thompson,
Thanks for feeling compelled to declare that the voters should make up their own mind regarding Bain Capital. Because of this article, I did some online research and found information that I did not know previously.

Bain Capital has rescued just as many companies from financial collapse as you can point to that have failed under their management. Critics have never pointed to that fact. Since the companies already had a depressed stock price which made the buyout possible, I would say Bain has an excellent management and job-saving record.

That may be why employee unions invest their pension funds with Bain. The union workers need a secure investment with a good record of return. And I'm sure that the unions would not invest with a company that makes a habit of vampiring and vulturing union jobs, would they?

I agree. Problem is that most people don't do their own research, thus making it easy for mass media to be disingenuous ( means lacking in candor) as in some of the latest negative tv ads that don't give you the entire picture. It's unfortunate that people take information at face value and don't check things out to find out what the whole truth is. Maybe this article will cause a few people to do just that.

I don't know either is a perfectly honest response. I'm not a paid heckler. Mitt wouldn't want me anyway, too interested in specifics.