Wednesday, July 20, 2011

ROMNEY and the Media

I have continued to be fascinated by the ongoing and continuous critique by Romney detractors of Mitt's business experience at Bain. What fascinates me the most, as I read articles from Bloomberg, The Boston Herald, The Boston Globe and the WSJ is how misinformation and downright ignorance hides under the label of supposedly credible news outlets. many of the writers must have skipped most undergraduate economics courses and , in their zeal to " get Mitt", must have equally skipped ETHICS courses....if they are still offered. here is but the latest:
Some of Romney's successes



This article looked at three companies that Bain acquired and took through a structured bankruptcy. I looked at the first company they cited, Dade Behring.
Blum and Lerer start by pointing out that Bain acquired control of Dade Behring in 2001 and took them into a structured bankruptcy in 2002 costing 1600 jobs. True enough. End of story for Blum and Lerer who go on to two other companies, without a glimmer of recognition that they understand what is going on. But.........WIKIPEDIA DOES !

" In 2002, the company filed a Chapter 11 bankruptcy to facilitate corporate reorganization and debt restructuring. The company then recovered in a spectacular way. By 2005, Dade Behring had 6000 employess and 25,000 customers in 40 + countries. The company was later sold to Siemens for $ 6.3 BILLION."

So, Bloomberg and The Boston Herald , in their zeal to get a hit on Mitt, engage in what I would term a distortion by design. They are smart enough to do their homework. They are interested in the most negative conclusion they can find, regardless of the facts.

In all fairness, I would guess Blum and Lerer are a couple of summer interns just doing what they are told. But, I think this kind of distortion happens all too often.


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hamaca said...

How do they expect to have any credibility? That's like reporting the halftime score of a big game the following day with their team in the lead. No mention, though, that the other team came from behind to win!

BOSMAN said...

Great post craig.

Just like the media not to tell THE FULL STORY when it doesn't suit their agenda or story line.

Thanks for setting the record straight. Something tells me we'll all be doing this a lot!

hamaca said...

Reminds me of the biased media back when Romney was Governor.

Massachusetts Conservative said...

With the media against Mitt this vehemently, I don't see how he wins. He's going to need to get the truth out, and I'm not so sure he can overcome EVERY SINGLE media outlet in the country lying about him.

It is quite discouraging. Mitt needs tons of cash for ads. TONS. Or else he's going to be assassinated by the media AGAIN, just like 2008.

Joe said...

New Rasmussen poll has Mitt beating Obama by 1 -