After months of Democratic attacks, Mitt Romney is finally going on offence to define his record at Bain Capital in positive terms, penning a Wall Street Journal op-ed titled “What I Learned At Bain Capital.” The piece highlights a few of the specific deals Romney worked on at at Bain, including his oft-mentioned gamble on Staples, to highlight why his experience in private equity makes him qualified to run the country.
This excerpt basically sums it up:
A broad message emerges from my Bain Capital days: A good idea is not enough for a business to succeed. It requires a talented team, a good business plan and capital to execute it. That was true of companies we helped start, like Staples and the Bright Horizons child-care provider, and several of the struggling companies we helped turn around, like the Brookstone retailer and the contact-lens maker Wesley Jessen.
My presidency would make it easier for entrepreneurs and small businesses to get the investment dollars they need to grow, by reducing and simplifying taxes; replacing Obamacare with real health-care reform that contains costs and improves care; and by stemming the flood of new regulations that are tying small businesses in knots.
My business experience confirmed my belief in empowering people. For example, at Bain Capital we bought Accuride, a company that made truck rims and wheels, because we saw untapped potential there. We instituted performance bonuses for the management team, which had a dramatic impact. The managers made the plants more productive, and the company started growing, adding 300 jobs while Bain was involved. My faith in people, not government, is at the foundation of my plan to strengthen America’s middle class.
The piece still lacks for details, but it is a marked change from Romney’s previous approach to talking about his record at the company where he spent most of his career.
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