Dumb Letters to the Plain Dealer, Volume II: "How can I be of service, Boss?" [View all]

[HughBeaumont]

http://blog.cleveland.com/letters/2012/01/bain_capital_in_defense_of_ame.html

President Barack Obama has made his position clear: Free-market capitalism "never worked." His economic policy is built on hubris and cronyism where the judgment of rulers like himself determines business and worker winners and losers and is superior to the collective judgment of a free people. His buddies at General Motors and Goldman Sachs are bailed out, the equity of innocent bondholders is transferred to his United Auto Workers cronies and taxpayer funds are lavished on campaign contributors at Solyndra. He reveals his ignorance and inexperience, never having a job that relied upon providing a product or service that would be judged by the market.

Obama has GM and UAW cronies? And why exactly does one have to be a CEO/businessman to be a president? This is one of those ridiculous things the right says a lot, but in hindsight make not a damned bit of sense. Theoretically, government is not a business, nor should it be run as such (see: 1981-2009). Are we justifying the "plutonomy" here?

More disappointing is the Republican presidential candidates denying the moral and practical superiority of capitalism in bashing Mitt Romney and Bain Capital. Romney has provided a tepid defense with comments that every layoff is a "tragedy." My own layoff was anything but. Although at the time unpleasant, it turned into the greatest opportunity of my life.

Right. Sooooooooooooo, because it was a peaches-and-cream pillow-field landing for YOU, it's going to be that way for everyone. There's going to be no depression in wages, long job searches, loss of property, underemployment, stress, none of that? Gotcha.

Even the most successful businesses go through basic cycles of entrepreneurship, maintenance and decline. The declines provide fertile ground for the greatest growth. Layoffs are part of this; they allow businesses to survive, become more efficient and employ more in the future. Investment firms such as Bain facilitate business and individual retooling.

George Gary Thomas Rocky River

Funny . . . during the whole airlines debacle, the company that DIDN'T lay off workers (Southwest) grew to be the largest airline in the country. Ask Costco and various co-ops how they're "coping" without laying off workers. Ask Germany, who subsidized their workers rather than fire them, how badly their businesses are doing as a result. Oh wait, they recovered faster than us and have a lower unemployment rate.

Chop, chop, peon. Bossman needs him some TPS reports.