Site for Free Markets and Free People

Tuesday, January 10, 2012

Romney Getting Slammed for Being Successful?

I don't get it. Bain Capital is one of the premier global private equity shops, and considered to be one of the most successful. Everything can be debated and since Bain is a privately held company, I don't have the figures. That said, most people in the industry consider Bain to be a well-managed company, a highly profitable company, and a highly desirable company to work for for most graduates.

What I'm surprised about are the attacks he's been getting from people like Gingrich and Santorum. Santorum doesn't think that being a leader of a company like Bain make him well-suited to be President of the US. Gingrich argues over job creation. Ok it's true, private equity guys, are sometimes dealing with over-levered or problem-companies, so sometimes they have to cut. At the same time, they realize that they can only maximize their value by growing it, so this is absolutely essential. I'm wondering if people understand this.

I for one, believe that while real work experience might not be required of a President, but I do I do believe it matters - and it matters a lot. Why? Because most people work! And if you're a CEO or a founder of a company, for that company to be successful, you need to be able to relate to working people. One only has to look at the long line of people trying to get a job at Bain to realize that they must be doing something right!

I'm not sure that Gingrich or Santorum brings much in terms of real work experience to the table. I respect their opinions, but I'm surprised at these attacks on his business career. Frankly, I'd expect this from someone like Barack Obama, who never worked a nine-to-five-job in his life.