Florida's Bain Story

I love that there seems to be a story of Bain destroying a company through vulture tactics in every state of the union. Here is ours!.

Via the Miami Herald:
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It started in 1995, when Romney’s Bain Capital targeted the company that became Dade Behring, which made blood-testing machines and performed animal research at its Miami campus.

Bain borrowed heavily to buy the company and closed a factory in Puerto Rico to improve the bottom line. About 400 lost jobs there. Then in 1997, Bain shuttered Dade Behring’s Miami operations, costing another 850 jobs and a $30 million payroll in the community.

Before growing debt consumed the company, Bain executed its exit strategy and made $242 million.
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Yes, this man clearly knows how to create jobs... for the servants in his own home. But I guess I'm just attacking free enterprise.

The significance of stories like this, though, isn't evidence that Mitt Romney is a terrible businessman. It is that he known only how to make money off exploitation.

I heard Herman Cain defending what Bain does the other day on Bill Maher's show. Cain noted that he shrunk Godfather's Pizza, then when he changed the business model, he expanded it again. That it not the sort of story we story we keep getting about Bain Capital.

Romney's crew didn't stick around to rebuild companies. Instead, they sucked companies dry, like vampires finding corpses near death but still filled with ripe enough blood to consume. After sending people home with boxes, the company found ways to make millions in profits and skipped town themselves.

Businesses fail. I get it. Not that Romney takes responsibility for that happening either.

But the truly disgusting thing that Romney keeps putting on display is his complete inability to defend any part of his record. When people attack his time as governor of Massachusetts, he blames it on Democrats in the Legislature. When people attack his time in the public sector, he calls them commies who aren't properly bowing themselves at his feet to worship at the altar of capitalism.

Romney is not just the enemy of liberals. He is the enemy of the working class. And he is just now coming to realize the Republican Party's rank-and-file membership is made up of working class people.