BUSINESS RECORD

 Romney spent most of his business career as CEO of private equity firm Bain Capital – as of June 2007 he maintained an investor’s stake in the company.

 Bain Capital has been criticized for relentless focus on bottom line at expense of workers and jobs.

 Romney describes himself as a “business legend” in his campaign ads and once said of himself: “I’m basicallyin the investor’s Hall of Fame.”

 Bain Capital and Bain & Co. employees donated at least $171,000 to Romney’s presidential campaign in Q12007 and gave tens of thousands more in support of his previous political activities.

 Bain Capital financed 1988 buyout with junk bonds issued by Drexel Burnham – when SEC filed charges against the firm and CEO Michael Milken, Bain Capital maintained their business relationship; Romney laterreminisced about “the glorious days of Drexel Burnham.”

 In 2004, Bain & Co. received a multi-million dollar contract from the National Iranian Oil Company.

 Romney sat on board of directors of Bain portfolio company Damon Clinical Laboratories, which in 1996 was fined over $100 million for Medicare fraud committed during Romney’s tenure.

 Bain Capital owned company named Ampad that purchased an Indiana paper plant, fired its workers and offered to bring them back at drastically reduced salary and benefits – the firings became an issue in the 1994 Senate race when workers blamed Romney for their situation and appeared in Kennedy campaign ads.

 After Romney became governor, Bain Capital teamed up with Chinese appliance maker Haier Group in 2005i n effort to purchase Newton, IA-based Maytag Corp. and send jobs overseas.

 At least two Bain Capital companies – Stream International and Modus Media – focused on outsourced technical support services, expanding facilities abroad while contracting operations in the United States.

 Bain Capital operated steel company called GS Industries which went bankrupt in 2001 after years of laborstrife, closing a plant in Kansas City and laying off over 700 workers.

Employment:
Consultant, Boston Consulting Group (1975-77)
Consultant, Bain & Company, Inc. (1977)
Vice President, Bain & Company, Inc. (1978-84)
Co-founder and managing general partner, Bain Capital, Inc. (1984-99)
Interim CEO, Bain & Company, Inc. (1991-93)
President and CEO, Salt Lake Organizing Committee (1999-2002)

Political Career:
Republican nominee for U.S. Senate from Massachusetts (1994)
Governor of Massachusetts (2003-07)
Chairman, Republican Governors Association (2005-06)

"If your main argument for how to grow the economy is 'I knew how to make a lot of money for investors,' then you're missing what this job is about," Obama said during a news conference at an international summit in Chicago. "It doesn't mean you weren't good at private equity, but that's not what my job is as president. My job is to take into account everybody, not just some. My job is to make sure that the country is growing not just now, but 10 years from now and 20 years from now."

"What this election is about is the 23 million Americans who are still struggling to find work and the millions who have lost their homes and have fallen into poverty," Romney said. "President Obama refuses to accept moral responsibility for his failed policies. My campaign is offering a positive agenda to help America get back to work."

The company, Konarka Technologies, “filed for Chapter 7 bankruptcy protection and will cease operations, lay off its 85 workers and liquidate”:

“Konarka has been unable to obtain additional financing, and given its current financial condition, it is unable to continue operations,” CEO Howard Berke said in a statement. “This is a tragedy for Konarka’s shareholders and employees and for the development of alternative energy in the United States.”

The demise of Konarka could become a hot topic on the campaign trail because Romney personally doled out a $1.5 million renewable energy subsidy to the Lowell startup in 2003, shortly after taking office on Beacon Hill.
Konarka is the second Massachusetts solar company, along with Evergreen Solar and Beacon Power, to receive taxpayer dollars under Romney’s tenure and subsequently declare bankruptcy.

1) Ranked 47th in job growth: The state’s total job growth was just 0.9 percent, <...> The national average, meanwhile, was better than 5%

2) Suffered the second-largest labor force decline in the nation: Only Louisiana, which was ravaged by Hurricane Katrina in 2005, saw a bigger decline in its labor force than Massachusetts during Romney’s tenure as governor. The US Census Bureau estimated that between July 2002 and July 2006, 222,000 more residents left Massachusetts for other states than came to it. That decline largely explains the state’s decreasing unemployment rate (from 5.6 to 4.7 percent) while Romney was in office, according to Northeastern University economics professor Andrew Sum. At the same time, the nation as a whole added 8 million people to the labor force.

3) Lost 14 percent of its manufacturing jobs: <...> In 2004, Romney vetoed legislation that would have banned companies doing business with the state from outsourcing jobs to other countries.

4) Experienced “below average” economic growth and was “often near the bottom”: <...> As a result, the state was more comparable to Rust Belt states like Illinois, Michigan, and Ohio than it was to other high-tech economies it typically competes with.

5) Piled on more debt than any other state: Romney left Massachusetts residents with $10,504 in per capita bond debt, the highest of any state in the nation when he left office in 2007. The state ranked second in debt as a percentage of personal income. <..>

According to the disclosure form, Romney's most lucrative assets in 2011 were his investments in Bain Capital. Nineteen different Bain investments are worth a total of at least $4.5 million, but are likely far more valuable because two of those assets are simply described as worth more than $1 million. Federal disclosure rules do not require candidates to list the precise value of assets or earnings, instead relying on broad ranges of wealth.

One can thus calculate a range for how much Romney earned from Bain and other holdings in 2011. Over the course of last year, the former Bain Capital CEO took in somewhere between $720,000 and $6.26 million from holdings in the firm. Money managed by Goldman Sachs was good for at least $1,113,503.01, with the gain on one Goldman fund classified simply as "over $1,000,000." In addition, he received between $100,001 and $1,000,000 from the sale of an asset portfolio managed by Goldman Sachs.