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Friday, August 24, 2012

Mitt Romney Talks About Lessons Learned At Bain

By Susan Duclos

Since Barack Obama, Democrats and Liberals have been relentless in attacking Mitt Romney over his Bain years, Romney is now opening up on the lessons he learned from those years and how those lessons would translate into governing the United States if he is elected as President in 2012.

The whole WSJ piece is a must-read, but a little teaser below:

The lessons I learned over my 15 years at Bain Capital were valuable in helping me turn around the 2002 Winter Olympics in Salt Lake City. They also helped me as governor of Massachusetts to turn a budget deficit into a surplus and reduce our unemployment rate to 4.7%. The lessons from that time would help me as president to fix our economy, create jobs and get things done in Washington.

A broad message emerges from my Bain Capital days: A good idea is not enough for a business to succeed. It requires a talented team, a good business plan and capital to execute it. That was true of companies we helped start, like Staples and the Bright Horizons child-care provider, and several of the struggling companies we helped turn around, like the Brookstone retailer and the contact-lens maker Wesley Jessen.

My presidency would make it easier for entrepreneurs and small businesses to get the investment dollars they need to grow, by reducing and simplifying taxes; replacing Obamacare with real health-care reform that contains costs and improves care; and by stemming the flood of new regulations that are tying small businesses in knots.

My business experience confirmed my belief in empowering people. For example, at Bain Capital we bought Accuride, a company that made truck rims and wheels, because we saw untapped potential there. We instituted performance bonuses for the management team, which had a dramatic impact. The managers made the plants more productive, and the company started growing, adding 300 jobs while Bain was involved. My faith in people, not government, is at the foundation of my plan to strengthen America's middle class.

Read it all

Some might say Romney should have done this when the Bain attacks first started but it seems the timing was calculated so that it would have the maximum effect. Obama, Democrats and Liberals tried to define Romney and failed to move his polling numbers more than a couple percentage points.

Now Romney is defining himself and he is doing it well.