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Cory Booker had no idea how badly he undermined Obama yesterday. On Meet the Press, the star-Democratic mayor of Newark, referred to Obama’s attacks on Romney’s work at Bain as “ridiculous” and seemed to contrast them with Obama’s more
Well that screwed up the Democrats’ plans for messaging, maybe for the whole week.
The Obama campaign has been picking one message each week and hammering on it.
This week, Obama wants the media to talk about Ampad, a paper company that Bain bought in 1992 and SCM Office Supply, another office supply chain that Ampad bought while being run by Bain. The Obama campaign produced a five-minute video explaining the deal, and Ampad’s subsequent bankruptcy, and is is holding a conference call with reporters later today to talk about it.
Here are the big numbers the Obama campaign wants to drill into the media. Bain bought Ampad for #5 million down. They then used it to buy other companies like SCM Office Supply, where workers were let go. Between its purchase by Bain in 1993 and its bankruptcy in 1999, Ampad’s debt went from $11 million to $400 million. Bain earned about $100 million.
But no one is going to be talking about that.
But instead everyone is going to be talking about how Corey Booker doesn’t agree with Obama. And other Democratic politicians who have close ties to private equity executives are going to be asked to weigh in. There are going to be stories about how Bain and other private equity firms successfully manage pension funds for public-sector employees, securing their retirement benefits.
In any case, here’s the video the Obama campaign put out this morning.
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