The Romney Record: STAPLES
Mitt Romney and Bain Capital invested in Staples as a startup to give it a chance to grow. Today it provides 89,000 jobs at stores and distribution centers across the country.In 1986, Staples opened its first store in Brighton, Massachusetts. Today, Staples operates more than 1,500 stores and 56 distribution centers across 49 states and the District of Columbia. In 2011, Staples had more than $25 billion in sales.
Staples founder Tom Stemberg recalls Mitt’s role in the company: “Mitt didn’t just invest in Staples when it was an idea — he hung around as a member of the board of directors for close to 15 years and I’ve been on some very good boards with some great directors. I would still rate him as the single best corporate director I’ve ever worked with . . . He was the inspirational leader and while Staples may have existed without him, I doubt it would have been nearly as big or successful without him.”
The Romney Record: STEEL DYNAMICS
When the steel industry was laying off workers and dozens of companies were going bankrupt, Mitt Romney and Bain Capital took a chance to invest in a new steel company. Today, Steel Dynamics employs more than 6,180 workers across the United States.
In 1994, Bain Capital helped make Steel Dynamics possible by joining with GE to provide critical venture capital funding in a costly and struggling industry. In less than 20 years, Steel Dynamics has become America’s fifth-largest producer of carbon-steel products with $8 billion in revenues. It is one of just six major American steel companies.From its initial base in Indiana, Steel Dynamics has grown to include plants in Roanoke, Virginia; Pittsburgh, Pennsylvania; and Huntington, West Virginia. Additional operations, including mining, recycling and steel fabrication centers have created jobs across Georgia, Indiana, Michigan, North Carolina, Ohio, South Carolina, Tennessee, Virginia, Minnesota, Florida, Arkansas, and Nevada.
The Romney Record: BROOKSTONE
Before Mitt Romney and Bain Capital invested in New Hampshire-based Brookstone in 1991, news reports stated that the company was in “dire straits.” During their investment, however, the company witnessed a dramatic turnaround. During the Brookstone investment, the company opened more than 100 stores and added more than 740 jobs across the United States. Brookstone’s revenues nearly tripled from $95 million to $270 million. Today, Brookstone is one of New Hampshire’s largest corporations, and the growth that began during Bain Capital’s investment has continued. Brookstone has subsequently added more than 1,100 employees across 294 retail stores in the United States. And in 2011, Brookstone recorded nearly half a billion dollar in revenues.
The Obama Record: Anti-job-creators, Anti-jobs
Barack Obama’s attacks on Mitt Romney’s record of success in the private sector are no surprise. This administration has been the most hostile to job creators of any in memory.
You cannot love jobs, while attacking the businesses that create them. Yet that is the record of this presidency. The Obama Administration has spent three and a half years criticizing the free market, over-regulating businesses and creating an environment of uncertainty. And now they look around and wonder, “Where are the jobs?”
What we see in President Obama is someone who doesn’t understand the private sector and what we see around us in our stalling economy is the consequence of his attacks on the private sector.
The Obama Record: Hurting Small Businesses
Jack Gilchrist, Gilchrist Metal Fabricating In New Hampshire:
“Our business, our neighbors, ourselves, are all affected negatively by the same condition: and that’s uncertainty. The Obama economy is just loaded with uncertainty. We have a rising debt. We have a devalued currency. And every time that happens I have less money to buy more expensive equipment with to try and keep up with technology. We’re the stockholders of America and every time our stock is worth less, I feel like I’m worth less and it’s harder for me to run my business. I want a Mitt Romney. I want somebody who can generate equity for me and the stockholders of America. I think we need a leader that takes responsibilities, not a fundraising professor that blames others.” (RFP Release, 6/4/12)
Kyle Koehler, K.K. Tool Co., Inc. Of Ohio:
“I think one of our concerns, one of the two concerns I have, one is Obamacare and the fact that if it’s fully implemented we’re going to compete with companies who simply drop their health care and we’re hearing this just pay the penalty and settle for cut-rate government provided health care…. We’ll be the disadvantaged because we care more than just about the bottom line. It’s going to, I believe, it’s going to hurt the average worker, not help them.” (RFP Release, 6/4/12)
Mike Anson Of Anson Excavating And Pipe, Inc. In Colorado:
“’We feel like there’s a lot of uncertainly out there and we just can’t get anyone to spend any money,’ Anson said. ‘We used to get jobs that were $500,000 to $1 million and now we can’t even get a job that pays us $100,000.’ The business owners said that health care reform, higher gas prices, the Dodd-Frank regulatory reform act and other new regulations have all hurt their bottom lines.” (KWGN.com, 6/4/12)
Scott Cook Of Cook Chevrolet In Colorado:
“’All industries and businesses have to be consumer-driven, not regulation-driven,’ said Cook, who runs dealerships on the Western Slope. ‘A lot of people won’t be able to afford to buy cars with these new fuel efficiency standards. People aren’t going to save money on gas because they’re going to pay more just to buy these more expensive cars.’” (KWGN.com, 6/4/12)
Ken Sickmen of Virginia’s Belmont TV:
“Ken Sickmen, who owns Belmont TV in Arlington and participated in the conference call, said beyond the economic figures traded back and forth by the campaigns there is a perception among the business owners he knows that Obama is hostile to the business community. ‘It’s a perception that President Obama policies are working against the businessman,’ Sickmen said. ‘It’s a feeling that Mitt Romney is more likely to be aware and more pro-business in that President Obama and his policies seem as if we’re the bad guy.’” (The Shad Plank Blog, 6/4/12)
Melissa Ball Of Ball Office Products In Virginia:
“Melissa Ball who owns Ball Office Products in Richmond said during the call that the ‘hostility’ towards the business community is keeping companies like hers from growing. ‘I’m looking forward to, right now, being able to say something other than “I’m just trying to stay flat; I’m just trying to maintain; I’m hoping not to let anyone go,”’ Ball said. ‘I want to see a situation where I can say, “I believe this economy can be turned around;” and I want to sit here and say “We’re growing, expanding and hiring.” Those are the types of things that can’t happen with our current policies.’” (The Shad Plank Blog, 6/4/12)
ColorFX CEO Jon Troen Of Iowa:
“ColorFX employs about 500 people in Iowa, including around 200 at the Urbandale facility. CEO Jon Troen spoke about burdensome rules and regulations that business faces under President Obama . . . . ‘When I talk about regulation, it’s not just specific regulation,’ Troen said. ‘It’s a climate and a culture of the government saying we know better than you how to run your business.’” (Des Moines Register, 6/4/12)