Romney And The Complexity Of Corporate Convenience
Mitt Romney’s tenure at his old startup Bain Capital has taken center stage in the race for the White House. Mr. Romney said that his business experience is the primary reason he is most qualified to run the country. It’s not his experience as Governor of Massachusetts and not his experience saving the Olympics back in 2002. His success at making money is his presidential calling card.
However, there’s some disagreement as to whether or not the business of Bain is good for the American economy or not. Whether deserved or not, Bain appears to have a reputation for outsourcing jobs for the sake of profit. Mr. Romney says that when he ran the company Bain helped companies create job growth in America. It wasn’t until he left the company that Bain started its more ruthless practice of sending more Americans to the unemployment lines.
Mr. Romney says that he left Bain in 1999 to run the Olympics and had no responsibility for what the company did after that. But documents have been uncovered with the Security and Exchange Commission that appear to indicate that Mr. Romney was running Bain through 2002.
The Romney team explains this away as nothing but standard procedure that comes with running a major business in corporate America. It’s standard for a chief executive to leave management to subordinates while he moves on to bigger and better things. Although a CEO might sign documents, we’re supposed to believe that the signature on legal documents is just a formality and really does not mean that the person who signed the document can attest to their accuracy. But doesn’t that sound a lot like the type of corporate malfeasance that actually led to the housing crisis or to the type of scandals that led to Enron?
Mr. Romney said that in 2002 he retroactively retired from Bain as of 1999. So the documents that he signed to confirm his retirement in 2002 should really apply to 1999. The effective date on the retirement documents in 2002 really means nothing, kind of like the signature. So, if the signature is inaccurate and the effective date is inaccurate is there anything in the document that actually means what it might say?
The idea that Mr. Romney allowed his name to be associated with a company that he had no control over other than signing official documents to government agencies sounds preposterous. This is the man that told his gardener that he couldn’t allow undocumented foreigners helping to work on his lawn because he was going to run for President. Mr. Romney said he had enough initiative to make sure the gardener’s business was above reproach. It’s a sure bet that he didn’t have any documented responsibility to whatever the gardener did. Nevertheless, he didn’t want to suffer the risk of being associated with hiring people who shouldn’t be working in the country. But he never questioned the management practices of the company that he said he left in 1999 even though he continued to sign documents through 2002. We should just take his word and the word of the people who worked for him and not those unbelievable documents that say otherwise. That really doesn’t sound right.
Although it looks pretty obvious that he is trying to downplay his responsibility as the CEO of Bain, the point isn’t that Mr. Romney is downplaying his responsibility. The point is that Mr. Romney’s business experience doesn’t really look like something he can point to as proof that he is the successful businessman with integrity that America needs right now. His business documents don’t mean what they say. He has a history of sayings he wasn’t responsible for a lot of the success that has made him so financially successful. This is the man that claimed during many of the Republican primary debates that his investments were in a blind trust that he had no responsibility for. So where exactly should we be looking to see the business practices that make him most qualified to be President?
Coincidentally, the way Mr. Romney left Bain Capital to run the Olympics is kind of like the way he left the governorship in Massachusetts to make a run for the presidency. In the middle of his term Mr. Romney abandoned the people of Massachusetts to lobby and network with conservative politicians across the country.
If anything, Mr. Romney’s business experience as well as his political experience shows him to be unreliable, untruthful, irresponsible, and erratic. He left Bain to run the Olympics but simply forgot to sign the documents that would prove it. He left Massachusetts to work on his bid for the White House he just didn’t tell the people of Massachusetts. Even Alaska Governor Sarah Palin had the good sense to step up to the mic and resign. Despite her personal shortcomings when she knew it was time for her to leave she left and everything was kept above board and transparent. Not so with Mr. Romney. Things get unnecessarily complex. And if something as simple as leaving a business can get convoluted in legalese just imagine how complex running the United States will get.
If Mr. Romney’s business experience is his ace card then it really doesn’t look very good for him. The three year period of signing documents but not being able to verify the information within doesn’t bode well. America needs somebody who they can count on and not somebody who has a reputation for putting his signature on anything just for the sake of corporate convenience.
You Don’t Have To Do Anything You Don’t Want To
Mitt Romney is pushing back against calls for him to release more of his personal tax returns if he wants the White House. He refuses saying that he’s under no legal requirement to release anything else of the sort. He points to other presidential candidates that only released a couple of tax returns. He said that 2008 candidate John McCain only released two years and 2004 candidate John Kerry. Both of those guys lost their bid by the way. So if that’s what Mr. Romney has selected for role model all I can say to him is good luck with that.
Mr. Romney feels like he is being personally attacked. He feels that the President Obama is bereft of anything to give the people of America a reason to reelect him and has desperately settled on personal attacks against his opponent. Mr. Romney says that nobody cares about his taxes. But if that was true then whenever somebody from the Obama campaign said anything about Mr. Romney’s tax returns it would fall on deaf ears and people would move on to something else.
Instead, people hear that Mr. Romney has only released one tax return and they want to know what he could be hiding. Mr. Romney has made a lot of money over the years and he says that the size of his wallet has become his calling card. He says he loves America and as President he would put his business acumen into reviving the economy and putting this country back on the right track. He promises lower taxes for corporate America and will cut the budget of every government program he deems unnecessary. He wraps himself in the American flag and promises to put America first. Mr. Romney says he loves America so much and wants to do all he can for the country’s economy. But if that’s the case, wouldn’t he pay his fair share in taxes so that he’s not a drag on the economy?
So far, Mr. Romney has released only one year of tax returns and it was discovered that his tax rate was less than a meager fourteen percent, far less than the pay rate for the average joe. He promises to release his last tax return when it’s ready for viewing. But until then, people are going to have to make do with that single year because his opponent will never be satisfied. He released one tax return and they want to see more. He promises he’ll release 2011 when it’s ready but his opponent wants more. Based on the fact that he will release two years of tax returns and his opponent wants more, the conclusion is that anything more than that will not be enough and so enough is enough, despite the fact that his father who started the tradition of candidates releasing tax returns gave twelve in his failed bid for the White House.
Now Mr. Romney might feel like he’s being held to an unfair higher than necessary standard. Never mind the fact that his opponent released something like eight years of tax returns in his first run. Never mind his father’s twelve tax return release. Mitt Romney doesn’t want to give into pressure to do something he doesn’t want to do. But if Mr. Romney wants the job he’s applying for, he really needs to step to the plate and give his potential employer, the American people, what they want to feel comfortable with him as President.
Obviously Mr. Romney doesn’t apply for many average jobs. Almost every employer I ever went to work for wanted me to submit to a drug test. I didn’t want to do it. But that’s what I was asked to do if I wanted the job. There wasn’t a legal requirement to do so and I could’ve pointed that fact out. The potential employer would’ve said that I was completely within my rights not to submit to a drug test and would have thanked me for my interest as they threw my resume into the shredder. It’s what you do to get the job.
I have had employers ask me to submit to a polygraph. I have been asked to do take a test to prove my ability to do programming and database design. I have been asked to submit to forms of testing that nobody in the office I went to work in had to perform. The way I understood it, it wasn’t about them, but whether or not I wanted the job bad enough to jump through the hoops I was being asked to jump through. If I thought the hoop wasn’t fair or if I felt that I simply didn’t want to submit to what I was being asked to do, I was always free to decline. It’s funny, not one time did I get the job when I declined to do what I was asked.
If Mr. Romney doesn’t want to release his tax returns, if he wants to let that cloud hang over his application to run the company called the United States of America, that’s fine. If he doesn’t feel that he needs to do anything about what people are asking him for, then by all means he shouldn’t do it. But then he shouldn’t be too surprised if questions remain and people aren’t all that confident that Mr. Romney is the best man for the job. Romney should remember what happened the last time he asked a candidate for a job to do something and they refused. I bet it didn’t go very well for the candidate.


