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The incredible inside story of how the Romney campaign descended into chaos on Election Day

Even as you read this, there likely are movie producers meeting somewhere to discuss plans for a flick that tells the almost unbelievable story of what happened to Mitt Romney’s presidential campaign on Election Day 2012.

The story has everything:

The reckless waste of money on so-called sophisticated technology that turned out not to work;

Foolish denials by top campaign staffers that anything had gone wrong;

Ridiculous claims of impending victory without a shred of evidence to support them;

Tens of thousands of volunteers stranded in scattered locations with no way to transmit data back to campaign headquarters;

Top operatives flying blind without information about developments on the ground;

Problems aggravated by undue secrecy;

Elaborate plans to promote voter turnout coming apart at the seams.

 There’s much more about this HERE and HERE.

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34 Comments

  1. As I have said before, if Romney can’t even run his campaign, how can anyone believe that he could run the country? Oh, that’s right. He is use to running a company into the ground and then liquidating it, something he can’t do to the US.

  2. Liar.

    http://www.washingtonpost.com/blogs/fact-checker/post/fact-checking-democratic-convention-claims-about-romneys-bain-capital-experience/2012/09/10/41351dfe-f927-11e1-8398-0327ab83ab91_blog.html

    First, a little background on private equity. A December Washington Post article described how the practice works, explaining that firms like Bain acquire businesses, trim costs, often borrow money and acquire competitors in an effort to make the companies more profitable. The goal is to eventually sell the businesses for a gain.

    Private equity firms often collect fees regardless of whether business is good or bad, and they sometimes use debt to pay out shareholder dividends. These practices make the industry controversial, especially when the businesses flounder or die.

    A report from The Wall Street Journal found that about 22 percent of Bain’s companies either filed for bankruptcy or liquidated within eight years after the private-equity firm acquired them. That leaves 78 percent of its businesses that avoided such trouble. Furthermore, only four of the companies that produced Bain’s 10 biggest gains ended up in bankruptcy court, according to the Journal.

    The December Washington Post article said that “Bain arguably drove some companies to the ground by taking on more debt to give investors dividends earlier.” But those examples are the exception rather than the norm, so the Obama campaign seems to be oversimplifying Romney’s business career.

  3. Interesting comment, doc. Note that it says that while 22% of Bain’s companies either filed for bankruptcy or were liquidated with in 8 years, 40% of their 10 largest gains ended up in bankruptcy court.

    40% of their biggest gains from failed companies. I call that sacrificing a company and its employees for personal gain! Vulture Capitalism is an appropriate name.

  4. Brian Opsahl

    When Bain did go belly-up on it’s Companys they would take the employees pensions for themselves and hand the bill to…..yep the Federal Government…or the US taxpayer trully
    and you think this is good for America…? really !!

  5. Romney – The master at privatizing profit and socializing losses.

  6. Brian Opsahl

    Romney…….The pioneer of outsoursing….his fee from Bain for addvising Companys at taking their work outside the US was 120,000 for lessons on how it works….and they wanted him to be President…Holy Sh#t Batman lookout for Bain…lol

  7. What percentage of those business that Bain took on would have survived without Bain’s capital?

    Try ZERO.

  8. Try any percent you want. Your ZERO is as accurate as me saying ONE HUNDRED.

  9. Brian Opsahl

    The point is that his Vulture Capitolist like Bain don’t have to rip these Companys apart as was our Freeport neighbors Sensata. Can’t you see how bad that is for American workers and how greedy they are filling there pockets then taking that money offshore to a tax haven….then want votes for President…Really

  10. Wrong Jerry.

    Companies don’t seek venture capital support for fun. They seek them for access to capital. Capital is required for survival in a capitalist economy.

    Sorry. I know as a garden variety liberal you have no real sense for how business works, but that is the way it is.

    This same issue is impacting hospitals and health care systems now. Without access to capital you cannot make improvements, maintain facilities, replace equipment and meet all sorts of capital intensive regulatory requirements.

    That is why small hospitals and systems all over the country are either closing or merging with larger entities. Access to capital.

  11. Brian Opsahl

    The first time i heard the Vulture Capitol word it came from none other than Newt Gingrich the repulican then i heard it from Gov, Perry of Texas another republican who warned us about said Companys …just sayin

  12. doc,
    I am sure there are many outstanding venture capital companies out there providing money to companies that need it. Bain is not now of those. Like a vulture, Bain went after the weak, with assets they could plunder which is why 40% of their top 10 gains were companies they put into bankruptcy court.

    Bain took the path that gives them the most profit, not the path that helps the company and its employees the most. They put profit ahead of the welfare of the employees and the company that the took over. Their money was like mob money, and when the company did not provide the expected return, the would break their backs.

  13. Brian Opsahl

    After Romneys loss the other night, the republican National committee had all the credit Cards cancelled by the time they had left the TD Boston Garden Center…most had to pay for there own cab fairs and hotel rooms. just think what would be happening today had they won…can the poor say will i eat this week…or not

  14. Given the speed with which those cards were cancelled, I suspect that they would have been cancelled even if Romney won. Remember, he thinks of himself first, and his natural inclination is to protect his profit first and foremost. Alter all, these were not “his people”. They were just workers and he likes to fire people. So, screw them. Their job is done. “You’re fired”.

  15. Brian Opsahl

    I bet they didn’t even have the courage to tell them they were turned off because it was reported that the campaign workers tried using them that’s when they found out..how sad

  16. Your Romney thinks of himself first comment is nonsensical Jerry. You guys really need to turn of MSNBC. It is rotting your brains.

  17. doc,
    Your comments attacking me (”you have no real sense for how business works,” and “It is rotting your brains.”) instead of refuting what I say is proof that I am correct.

  18. Brian Opsahl

    Everything writen is true doc” is there a problem when confronted with truthful statements or embarassing republican idiocy. And your Fox news that poisons every opinion in the Country with lies and inuendos has been proven after this election to be flat out liars.

  19. I think America was offered a solution to it’s economic problems on tuesday , and we looked to the Obamaphone lady and said “Whatever you think we will go with that “. Romney doesn’t need the job , he truely wanted to help America . He had a plan to revive our economy by harvesting our energy resources , and employing people to do it . those people would of increased our tax base and helped to pay down our debt and deficit . Our energy prices would be lower and would of freed up household incomes to be able to purchase other goods and services which would of revived our economy. real simple !

  20. Jerry,

    Refute your opinion with what? You provided NO facts to substantiate your opinion.

    You are wrong about Romney “thinking of himself first”.

  21. Brian Opsahl

    Your missing the part where he wanted to cut his own taxes to the point where he only paid like 0.03 % , your also forgetting that whole repeal Obama care thing, or the adding some 2 trillion in defence spending the Military never ask for,and the outsoursing of American jobs, i think you left out a few things…Sir !!….what about the Jeep lies,i could go on all day

  22. doc,
    And you present NO facts to refute my opinion.

  23. Luke Fredrickson

    expdoc says: What percentage of those business that Bain took on would have survived without Bain’s capital?

    Try ZERO.

    :::::::::::::::::::::::::::::::::::::::::::

    As Fox’s Megyn Kelly said to Karl Rove on election night: “Is this just math that you do as a Republican to make yourself feel better?”

  24. Your opinion is your own, I don’t need to refute it.

    However, if you truly believe Mitt Romney only “thinks of himself first” then you have not actually tried to learn anything about the man and merely bought into the myth created by the left.

  25. Luke.

    A business that does not have access to capital will languish or close. They may even close in spite of a capital infusion.

    Think of the trauma patient showing up in the ER bleeding profusely. If the patient is given a blood transfusion and lives, that is the intended hope.

    If the patient is given a blood transfusion and dies, is the ER physician then a murderer?

    What if the patient receives the transfusion and “lives” but is in a vegetative state? Is the physician who harvests their organs a murderer too?

  26. Romney is like the ER physician who keeps his patient alive long enough to harvest his organs and sell them to the highest bidder, pocketing all the money for himself and leaving the patient dead and his family penniless.

  27. Luke Fredrickson

    Nice analogy doc. Let me continue in that vein (no pun intended). The blood those businesses got from Bain was not tested for pathogens and too many patients died shortly afterward. Yet the blood donor got filthy rich on the tainted donations.

    Moreover, there are other, better options for failing businesses than harvesting everything for short-term gain. Some become employee-owned and share the sacrifice in fovaor of long-term equity. Some go straight into bankruptcy restructuring without private equity involvement, and still come out a leaner, smarter, and DOMESTIC company still employing AMERICANS.

    Lastly, Business 101 tells us that profits should go to companies that take risk and make smart decisions to build long-term growth. But Bain had no skin in the game as far as losses: they profited whether the companies lived or died, and many times actually pulled the plug because that was better for Bain (workers be damned).

    And this is where your analogy falters. Doctors assume a moral responsibility to preserve life at all costs. Bain will kill or offshore a company if it makes a bit more money than keeping it breathing. This is not the kind of American Exceptionalism we should idolize.

  28. doc: Romney does, in fact, think of himself first.

    That’s been amply evidenced by his innumerable lies and his many flip-flops. When he decided that he wanted to run for the Republican presidential nomination, he reversed his positions on health-care reform, gay rights, abortion, immigration, climate change, poverty programs, gun control, stimulus spending — and even on the question of whether he was a moderate or a staunch conservative.

    He has told his audiences only what he thought they wanted to hear, no matter his positions of the past. Even when he admitted to having had illegal immigrants working for him (supposedly without his prior knowledge), his first thought was of his political career rather than anything else. He said: “I’m running for office, for Pete’s sake, I can’t have illegals.” Nothing about it being wrong, only that it could hurt him politically.

    Almost all politicians are self-centered, but Romney is in a class by himself in that regard.

  29. Luke Fredrickson

    Beat me to it Jerry, and more concisely too…

  30. Brian Opsahl

    Holy sh#t Batman ……the sad part is your disscription is a true way of looking at what he is good at…@ Jerry thanks for laught i needed that today after my Bears lost last night…!!

  31. “Some become employee-owned and share the sacrifice in fovaor of long-term equity.”
    -A liberals dream.

    Luke

    “Some go straight into bankruptcy restructuring without private equity involvement, and still come out a leaner, smarter, and DOMESTIC company still employing AMERICANS.”

    -Too bad you didn’t think that about the auto bailout.

    -Since when do business owners have a “moral duty” to their employees? Their duty is to themselves and to their shareholders.

  32. Jerry,

    Organs aren’t harvested until a patient is essentially dead. The harvesting of the organs brings some good from a tragic situation. My analogy stands.

    Brian,

    The Bears really suck without the whiner at QB.

  33. Pat,

    You said it best.

    ALL politicians are self-centered. It is the nature of the dirty game they play. Yet another reason to eschew as much government involvement in our lives as we can possibly afford to do.

  34. Brian Opsahl

    Doc: if your so against this Government involvment in our lives then why do you follow a party that wants to tell a Women when she can have a baby,how she has it,who she has it with,weather its inside her by RAPE or legitament RAPE in fact it’s in there doctrain that says if she has an Abortion its NOW Murder…even though the LAW of the land says otherwise…isnt that being quite the Hypocrite….for a Doctor…Sir !!

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