Wednesday, September 19, 2012

Mitt Romney is a very successful private equity investor but he is not a world leader

PJ: Romney's consistent stance about the Palestinian people is not only misguided, it is dangerous. The man has proven time and again that he has no head for diplomacy.

Mitt Romney was a business leader, in essence a corporate dictator who was obeyed. He did not have to garner votes for his plans. He did not have to lobby for support. He simply had to give orders. He could say what he wanted as long as he closed deals, as long as his company showed profits.

He has said that he likes to fire people. He touts his ability to turnaround a failing business. His record shows that he has succeeded in turning a profit regardless of the consequences to a business or its employees. In many instances, his leadership resulted in the annihilation of a company and the elimination of jobs even while providing healthy profits to himself and his investors. He is responsible for firing a lot of people. It is not illegal. It may or may not be ethical. It is what his type of business--private equity investing--is designed to do.

Private equity firm's sole purpose is to show a profit for investors. They can do this by investing in a business that might grow. They can do this by taking over a business and selling off parts at a profit. They can do this by taking assets in a company then shutting the whole thing down and distributing the profits from the assets to investors. The goal is not to create a business, it is not to grow a business, it is not to provide employment to anyone at a business. The only goal is to show profits that will be distributed to investors.

His style of business leadership does not make a world leader. Citizens are not employees that can be fired.

The world is not a business. If it were, and a private equity firm were to take it over, entire countries would have to be let go, shut down, eliminated to pave the way for greater profits for the handful of investors that the firm represented. From Mr. Romney's recent statements, 47% of the American population would have to be let go (sorry grandma and all you returning vets out there). And as for the Palestinian people--the door is over there....

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