Governor Romney's work at Bain Capital was about fixing companies that were broken and giving new companies a shot at success.
Building Businesses, Creating JobsGovernor Romney's time at Bain Capital was spent fixing struggling businesses and giving new businesses a shot at success. From 1984, when Romney co-founded the firm, to February 1999 when he left to lead the Olympics, Romney helped save thousands of jobs at companies that were in trouble. And the businesses Romney helped start while at Bain Capital employ more than 100,000 people today.
Since Bain Capital's founding, the company has had a remarkable record of success, especially considering that it largely invests with struggling or startup enterprises. Eighty percent of Bain Capital's portfolio companies have increased revenues, and only five percent of the companies under its control have filed for bankruptcy. Romney's work not only helped to save and create jobs, it also provided returns to investors, the majority of which were pension funds for retirees, university endowments helping with financial aid, and charities serving their local communities.
This experience helped Romney fix a scandal-plagued and debt-ridden Olympics in 2002 and to fix a budget shortfall in Massachusetts. He knows how to provide strong leadership in challenging times, and he will bring that experience with him to the White House to fix America's broken economy and to create jobs for the millions of Americans who are out of work.
The Obama campaign's attacks on business and free enterprise aren't just false; they explain why we aren't creating jobs. They reveal what this President really thinks about free enterprise. This is the most anti-business President in memory, and the results are clear: 23 million Americans are struggling for work, and unemployment has been above eight percent for 42-straight months. It's time to make a change to someone who understands the private sector and can get America working again.
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