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President Returns To Ohio
6:23AM
July 16, 2012
by The Associated Press
President Barack Obama is returning to the battleground state of Ohio on Monday for a campaign visit to Cincinnati’s historic Music Hall.
The Democratic president made a bus tour across northern Ohio over two days earlier this month, and has had rallies in Cleveland and Columbus since officially kicking off his re-election bid in May.
READ MORE: http://beta.wosu.org/news/2012/07/16/president-returns-to-ohio/
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Obama Criticizes Romney Corporate Tax Proposals In Ohio
By: Associated Press | NBC4
Published: July 16, 2012
President Barack Obama on Monday mocked Mitt Romney's economic vision, saying the only jobs plan his Republican rival has would create plenty of work for people overseas. Campaigning in battleground Ohio, Obama again tried to erode Romney's credentials as a businessman equipped to fix the sluggish economy.
READ MORE: http://www2.ohio-votes.com/news/2012/jul/16/3/obama-tout-auto-bailout-tax-policies-ohio-ar-1104591/
tdziemia
GV/Schumacher
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I know that Mitt Romney is teed up as a "businessman," but I would challenge a bit the notion that investment banking is what most Americans think of when they hear the term "businessman."
Investment banks are involved in brokering deals to buy and sell entire companies. Typical transactions are in the hundreds of millions to billions of dollars, and the investment bank will make millions to tens of millions of dollars on each deal. Teams of young grunts a few years out of business school are put together to do all the legwork (business analysis, etc), and then partners, senior partners, whatever, attend the occasional meeting with top executives to share the findings and keep the process moving along, and have a dinner that costs a couple of hundred bucks per person. There are no goods manufactured, bought or sold. No merchandise inventoried. The discussion is 100% about balance sheets, past cash flow or EBITDA, future cash flow or EBITDA, stock value, etc.
Yes, this is a kind of business. It is not the kind of business that teaches you much about running a country.
John Boehner, on the other hand, was a businessman in the sense that most Amnericans would understand. He worked for a company that sold something you can hold in your hands to a customer who then made that into something else.
Am I saying John Boehner would make a better president than Romney? No (god forbid!). I'm just saying that if some Americans think that Mitt ROmney has been involved in any kind of business they would recognize, they are mistaken.
And Obama? As far as I know, he hasn't beeen involved in business at all.
So what's the point? WHo really thinks that being involved in business is a good credential to become president? Now or ever?? The last two "businessmen" to become president were the two guys destined to be judged the WORST two presidents of the last 75 years: Jimmy Carter and George W. Bush.
So why was it again that we think it would be good to have a businessman for president?
local champion
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tdziemia said:
I know that Mitt Romney is teed up as a "businessman," but I would challenge a bit the notion that investment banking is what most Americans think of when they hear the term "businessman."Investment banks are involved in brokering deals to buy and sell entire companies. Typical transactions are in the hundreds of millions to billions of dollars, and the investment bank will make millions to tens of millions of dollars on each deal. Teams of young grunts a few years out of business school are put together to do all the legwork (business analysis, etc), and then partners, senior partners, whatever, attend the occasional meeting with top executives to share the findings and keep the process moving along, and have a dinner that costs a couple of hundred bucks per person. There are no goods manufactured, bought or sold. No merchandise inventoried. The discussion is 100% about balance sheets, past cash flow or EBITDA, future cash flow or EBITDA, stock value, etc.
Yes, this is a kind of business. It is not the kind of business that teaches you much about running a country.John Boehner, on the other hand, was a businessman in the sense that most Amnericans would understand. He worked for a company that sold something you can hold in your hands to a customer who then made that into something else.
Am I saying John Boehner would make a better president than Romney? No (god forbid!). I'm just saying that if some Americans think that Mitt ROmney has been involved in any kind of business they would recognize, they are mistaken.
And Obama? As far as I know, he hasn't beeen involved in business at all.
So what's the point? WHo really thinks that being involved in business is a good credential to become president? Now or ever?? The last two "businessmen" to become president were the two guys destined to be judged the WORST two presidents of the last 75 years: Jimmy Carter and George W. Bush.
So why was it again that we think it would be good to have a businessman for president?
Good thing Romney was never an investment banker, and was instead of strategy consultant first for BCG then for Bain. You realize that every fortune 500 has hired either bain, bcg or mckinsey at some point to tell them how to run their business right? While at Bain he launched bain capital, and while investment banking skills are good for private equity he was never an investment banker.
Also, while ebitda is sometimes used as a proxy for cash flow, cash flow it is not, and it is not the best proxy either.
tdziemia
GV/Schumacher
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Sticking with my opinion that business experience has nothing to do with success as POTUS.
I do believe that someone who has shown courageous leadership and effected positive change under difficult circumstances would be a good candidate. This type of person could come from business, non-profit world, or any other walk of life.
OK, I stand corrected on Mitt's exact role at Bain. However, I believe that running an executive from the financial services sector for president right now is putting the fox in the henhouse. This sector is still under the mistaken impression that we will survive and thrive as a country by primarily making money off of money. History shows repeatedly that this is the last step before the decline of wealthy nations (see: Spain in the 16th c; Holland in the 18th; England in the late 19th. AN excellent book on the topic is Wealth and Democracy).
Company I worked for was valued on multiples of EBITDA for each of the last two mergers/acquisitions. My understanding it is still the most widely used yardstick for manufacturing and other commoditized sectors, though as you point out, can be inappropriate for other types of businesses, or businesses that are growing quickly.
myliftkk
Columbus, OH
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Not much else to say: Scissor Sheldon
geoyui
West Side
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tdziemia said:
Sticking with my opinion that business experience has nothing to do with success as POTUS.
Playing along this same vein, does a president's faith make him a better president?
why-a-presidents-faith-may-not-matter
I would say no and prefer a candidate's religion be left on the sideline. But I realize that may not be possible as someone's religion plays a role in most if not all their personal decisions.
tdziemia
GV/Schumacher
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Ooohhh. What a great can of worms to open.
As best anyone can tell, Thomas Jefferson and Abraham Lincoln were two of the presidents least inclined toward religiosity. I would say they were pretty good ones.
My understanding is that our founding fathers had pretty clear intentions that matters of faith should not influence matters of state, as they saw the tumult this caused throughout the history of Europe, in which they were well versed.
I am with you. I am highly skeptical of anyone with any semblance of bringing their religious views into matters of policy, and most candidates have some kind of track record on this. As best I can tell any fears about ROmney's faith are ill-founded.
lakeerietransplant
On the outskirts of Yuppieville (Weinland Park)
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myliftkk said:
GOP strategist Ed Rollins, who last ran the early part of Rep. Michele Bachmann’s (R-MN) presidential run, told Fox News that his party needs to “broaden the base” if it wants to suceed into the future and needs to look less like, well, him.“It is a bunch of old, white guys, and unfortunately, a lot of them are fat like me – like Haley Barbour, my former deputy, and others,” he said.
I would have said the GOP has to stop looking so much like this guy.
Maybe Ed Rollins needs to open his eyes. The GOP has worked hard to diversify the ranks but will never get credit for it. Conservatives are accused of pandering when we try to broaden the base, or indifferent because we don't have liberal views on important issues. DAmned if you do, damned if you don't
tdziemia
GV/Schumacher
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Time to get provocative on the "Obama in the Mirror" image.
Did Obama preside over the worst attack on U.S. soil in 60 years (or 200 depending on how you count)?
Did Obama launch two off-budget wars that would affect U.S. deficits for the next 50 years?
Did Obama say "everything's OK" while the financial system collapsed and the worst recession in 75 years unfolded?
Really ... you've gotta be kidding. Americans may have some attention deficit problems, but we're not THAT dumb :-)
rus
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tdziemia said:
Time to get provocative on the "Obama in the Mirror" image.
Whenever you're ready.
Oh, wait. That was it? Bush starts two wars, Obama continues them and adds his own, even adding his own surge in Afghanistan. Democrats gave Bush shit for indefinite detention but are silent with assassination via drone; guess killing everyone is better than locking them up, especially when the Obama administration reclassifies all males of military age combatants, armed or not, to keep the collateral damage figures low. Of course Obama continued indefinite detention as well.
Bush pushed for the Patriot act; Obama renewed it.
Obama continued Bush's faith based initiatives.
But please, keep believing that they're different.
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