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Posts Tagged ‘Bain Capital’

ARTIKLAR | Mitt Romney har ofta framhävt sin näringslivserfarenhet i valrörelsen. Men dessa två granskningar har nog snarare gynnat Barack Obama.

The Romney Economi” av Benjamin Wallace-Wells

At Bain Capital, Romney remade one American business after another, overhauling management and directing vast sums of money to the top of the labor pyramid. The results made him a fortune. They also changed the world we live in.

(New York, 31 oktober 2011)

Greed and Debt” av Matt Taibbi

His legendary flip-flops aren’t the lies of a bumbling opportunist – they’re the confident prevarications of a man untroubled by misleading the nonbeliever in pursuit of a single, all-consuming goal. Romney has a vision, and he’s trying for something big: We’ve just been too slow to sort out what it is, just as we’ve been slow to grasp the roots of the radical economic changes that have swept the country in the last generation.

(Rolling Stone, 13 september 2012)

Övrigt: Tidskriftsomslagen ovan är New York den 31 december 2011 och Rolling Stone den 13 september 2012.

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STRATEGI | Jim Messina, Obamas campaign manager, har ett nätverk av företagsledare som inspirerat honom inför årets omvalskampanj.

“Raise money, register voters, and persuade voters,” säger Messina. “Everything has to feed into those three things.”

Joshua Green, i Bloomberg Businessweek, skriver:

The day after Jim Messina quit his job as White House deputy chief of staff last January, he caught a plane to Los Angeles, paid a brief visit to his girlfriend, and then commenced what may be the highest-wattage crash course in executive management ever undertaken. He was about to begin a new job as Barack Obama’s campaign manager, and being a diligent student with access to some very smart people, he arranged a rolling series of personal seminars with the CEOs and senior executives of companies […] “I went around the country for literally a month of my life interviewing these companies and just talking about organizational growth, emerging technologies, marketing,” he says at Obama’s campaign headquarters in Chicago.

[…]

In two long, private conversations, Steve Jobs tore into Messina for all the White House was doing wrong and what it ought to be doing differently, before going on to explain how the campaign could exploit technology in ways that hadn’t been possible before. “Last time you were programming to only a couple of channels,” Jobs told him, meaning the Web and e-mail. “This time, you have to program content to a much wider variety of channels—Facebook, Tumblr, Twitter, YouTube (GOOG), Google—because people are segmented in a very different way than they were four years ago.” When Obama declared for president, the iPhone hadn’t been released. Now, Jobs told him, mobile technology had to be central to the campaign’s effort. “He knew exactly where everything was going,” Messina says. “He explained viral content and how our stuff could break out, how it had to be interesting and clean.”

At DreamWorks Studios, Steven Spielberg spent three hours explaining how to capture an audience’s attention and offered a number of ideas that will be rolled out before Election Day. An early example of Spielberg’s influence is RomneyEconomics.com, a website designed by the Obama team to tell the story—a horror story, by their reckoning—of Mitt Romney’s career at Bain Capital. Afterward, Spielberg insisted that Messina sit down with the DreamWorks marketing team. Hollywood movie studios are expert, as presidential campaigns also must be, at spending huge sums over a few weeks to reach and motivate millions of Americans.

[…]

Messina is convinced that modern presidential campaigns are more like fast-growing tech companies than anything found in a history book and his own job like that of the executives who run them. “What they’ve done is more readily applicable to me, because they all started very small and got big very quickly,” he says.

Tidskriftsomslaget: Bloomberg Businessweek, 18 juni-24 juni 2012.

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USA | Mitt Romney bygger en stor del av sin image på att han som framgångsrik affärsman vet hur man skapar nya jobb.

En ständig fråga i valkampanjen är därför om Romney under sin karriär skapade fler jobb än han rationaliserade bort.

Randy Johnson, som 1995 förlorade jobbet i ett av de företag Romney omstrukturerade, bedriver en kampanj för att underminera Romneys presidentambitioner.

Naturligtvis har demokraterna välkomnat honom med öppna armar. Mer oväntat är att samma kritik har framförts av republikanen Newt Gingrich.

Paul M. Barrett har skrivit i Bloomberg Businessweek om striden. 

Randy Johnson organizes steel workers for a living. Before that he worked in a paper factory where he served as union steward. He has waved picket line placards, bellowed through bullhorns, and taken people out on strike. Along the way, he became Mitt Romney’s worst recurring nightmare.

[…]

 “Let me show you something,” Johnson says, rising to get his “Romney box,” a copier-paper carton he’s kept since 1994.

[…]

The box contains records of a long-ago chapter in the history of Bain Capital, the Boston investment firm Romney led from 1984 to 1999. Back in 1992, Bain acquired a manufacturer called American Pad & Paper, or Ampad. Bain then used Ampad as a vehicle to buy and restructure similar companies. Following standard “roll-up” strategy, Bain closed factories and laid off workers in anticipation of selling off a leaner, more profitable company via an initial public stock offering.

[…]

On and off since 1994, when the former Massachusetts businessman made his first run for public office, seeking to unseat Democratic Senator Edward M. Kennedy, Johnson has haunted Romney. During the hard-fought Senate race, Johnson led a “truth squad” of Marion workers who drove overnight to Boston to confront Romney. Kennedy’s campaign, recognizing a gift from the political gods, made a series of television commercials starring the unhappy Marion workers. The ads helped Kennedy pull out of a temporary slump and defeat Romney. In 2002, when the Republican ran for governor of Massachusetts, Johnson popped up again to remind voters about Marion. Better prepared, Romney weathered the attack and won the statehouse, vowing to improve the Massachusetts economy based on his business expertise.

Now, as Romney battles to become the Republican Presidential nominee, Johnson is working with the Democratic National Committee to plague the politician yet again. Once an aggrieved line worker avenging what he considered an injustice, he is, many years and several campaigns later, a seasoned operative fluent in the language and tactics of political combat. Democrats, for obvious reasons, seek him out, and he seems happy to be sought. Since late last year, the DNC has shepherded Johnson around the country in a preview of President Barack Obama’s populist-tinged fall campaign. Johnson has visited Iowa, New Hampshire, Massachusetts, Vermont, Maine, and Florida, talking to journalists and schmoozing state Democratic chairmen. In January, when Romney told an audience in Nashua, N.H., that he “enjoy[s] firing people,” Johnson cracked to reporters: “That’s not news to me. Mitt Romney fired me and everyone at the plant.”

[…]

Romney maintains his business career generated employment on an impressive scale. “The jobs created at Bain Capital by companies that we helped start or that we helped manage, those companies today employ well over 100,000 more jobs than those that were lost,” Romney told Bloomberg TV on Jan. 7.

Asked for data to back up that claim, Romney spokeswoman Andrea Saul points to comments the candidate made in Greer, S.C., on Jan. 12: “There are a number of businesses that we helped start which collectively … added well over 100,000 jobs. Staples (SPLS), Bright Horizons children centers, Sports Authority, Steel Dynamics (STLD). Those four alone added well over 100,000 jobs. And then the press has also reported on businesses that lost employment and that was a few thousand jobs that were lost. In each case, where there was job loss, there was an effort on the part of the management team to try and preserve the business to have a brighter future.” To this, Saul adds: “These experiences give Mr. Romney the unique skills and capabilities to do what President Obama has failed to do: focus on job creation and turn around our nation’s faltering economy.”

Bild: Tidskriftsomslaget är Bloomberg Businessweek den 27 februari – 4 mars 2012.

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