Does Romney have the right kind of business background?

[LilOlLady]

Does Romney have the right kind of business background?

We understand the achievements of Bill Gates and Steve Jobs. They created enterprises that employ thousands and sell to millions. But private equity, Romney’s specialty? That’s more complex and confusing. Texas Gov. Rick Perry calls Romney a “vulture capitalist.” Former Utah governor Jon Huntsman says Romney “enjoys firing people.” Is Romney’s business experience a virtue or a vice?

Private equity refers to groups of investors buying the stock of an existing company, thereby “taking it private.” Because most purchases use borrowed money (“leverage”), these transactions are known as “leveraged buyouts.” Once the investor group has control, it tries to improve profitability by lowering costs and increasing sales. The hope is to resell the business at a huge gain; this usually takes three to 10 years. In 2010, private-equity firms invested $148 billion in 1,234 U.S. companies, says the Private Equity Growth Capital Council.

The larger truth is that private equity doesn’t consciously strive to create jobs. The main aim is to improve a company’s profits and resale value.

Does Romney have the right kind of business background? - The Washington Post

Does this mean that presidents of these companies are qualified to run the federal Government? I do not understand the rationality that just because Romney ran a business, employed thousands that he is qualified to run the Federal Government? Exactly how did he run the Mass State Government? How many successful businesses men are there in this country that has made billions and hired thousands are qualified to run the federal government. Trump? Ha ha ha. CEO of McDonalds? CEOs of Target? CEOs of Wal Mart? How does Romney expect to create jobs as president? More tax cuts for the rich that create jobs? Ha ha ha. And more cuts in public and Government services putting more Americans out of work? And less safer America? How does he plan to pay down the debt and balance the check book of the people. We had a business man as president for 8 years and he almost bankrupt the world. 12 years of tax cuts for the rich and 14 million people unemployed proves that tax cuts for the rich do not create jobs. What’s plan number two Romney?