Monday, September 5, 2011


This morning, in S. Carolina, before he left to attend to the week old fires in Texas, Rick Perry spoke to some supporters in S. Carolina and was quoted as follows:

"....There's one particular ( candidate ) who's created jobs all around the world. While he was Governor of Massachusetts he didn't create many jobs "

Obviously, Perry was speaking of Romney's experience at Bain Capital as he created jobs " all around the world " while Perry , presumably created jobs in Texas.
Just to set the record straight, Romney created Bain Capital in 1986 with a venture capital start up of $ 37 MM, ALL RAISED ENTIRELY FROM PRIVATE INDIVIDUALS. Since then, Bain has invested in over 110 companies, some successfully and a few not successfully. That's why it is called risk capital. Bain continues to invest in start ups but Perry was focusing on Romney's tenure at Bain so I will as well.

Romney and Bain invested in many , many companies , but I'll focus on 5 of the best and the jobs that were created.

Started in 1986 with one Massachusett's store. Now, Staples has 1700 stores and 60,000 employees world wide, The company has over 40,000 U.S one could argue that Bain, and Romney were responsible for creating 40,000 jobs

2. Sports Authority
Started in 1987 with a Bain investment, SA had 9 stores in 6 states. They now have 460 stores in 45 states and more than 10,000 employees in the U.S.

3. Brookstone
Bain invested in 1991, the company has grown to 150 stores in 32 states and 3000 employees in the U.S.

4. Sealy Mattress
Bain invested in 1997. Sealy now has 5000 employees at 25 bedding plants

5. Dominos Pizza
Bain invested in 1998. Dominos now has 60,000 U.S employees at 6000 U.S stores

So, here is a short catalog of Romney / Bain successes creating ( NOT INHERITING ) almost 120,000 U.S jobs. Of course there are international jobs as well, as all successful companies participate in the global market, but the overwhelming majority of jobs are U.S based and put lie to Rick Perry's ill thought message.


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Anonymous said...

Just a minor correction and I don't mean to criticize Craig, Romney founded Bain Capital in 1984, not 1986.

Revolution 2012 said...

Perry didn't CREATE JOBS.

He was Governor of a state. The most he could have done was to create an atmosphere conducive to job creation. He didn't do that either.

Many of these enticements were in place in Texas since the 70's.

During Perry's run, The bad economy created jobs in Texas with rising oil prices.

Illegals also contributed to the need to add Public jobs to service their higher numbers.

ROMNEY CREATED JOBS in the PRIVATE SECTOR. Doing things like taking ONE business supply store and turning it into STAPLES.

That's call, creating jobs.