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Monday, July 20, 2009

Obama and Romney Tied up

Remember the projections on the last presidential polls before the last election, showing Romeny behind Obama?

What a difference a few months of incompetence on the part of Obama can make.


If the 2012 presidential election were held today, President Obama and possible Republican nominee Mitt Romney would be all tied up at 45% each, according to a new Rasmussen Reports national telephone survey.

As Obama's numbers continue to drop, this tie could end up being the best news Republicans have seen in a very long time.

At least Mitt Romney can balance a check book and has proven in his career that he knows how to work with the money he has without assuming he has more than he does.

After graduation, Romney remained in Massachusetts and went to work for the Boston Consulting Group, where he had interned during the summer of 1974. From 1978 to 1984, Romney was a vice president of Bain & Company, Inc., another management consulting firm based in Boston. In 1984, Romney left Bain & Company to co-found a spin-off private equity investment firm, Bain Capital. During the 14 years he headed the company, Bain Capital's average annual internal rate of return on realized investments was 113 percent, making money primarily through leveraged buyouts. He invested in or bought many well-known companies such as Staples, Brookstone, Domino's, Sealy Corporation and Sports Authority.

In 1990, Romney was asked to return to Bain & Company, which was facing financial collapse. As CEO, Romney managed an effort to restructure the firm's employee stock-ownership plan, real-estate deals and bank loans, while increasing fiscal transparency. Within a year, he had led Bain & Company through a highly successful turnaround and returned the firm to profitability without layoffs or partner defections.

Romney left Bain Capital in 1998 to head the 2002 Salt Lake City Olympic Games Organizing Committee. He and his wife have a net worth of between 250 and 500 million USD, not including Romney's blind trust in the name of their children, which is valued at about $100 million.

That is a man who would be able balance our country's finances and help brings us from the edge of bankruptcy if economics ends up being our main concern, depending on how much further in the hole Obama puts us in the next 3 1/2 years with his massive spending policies.