Romney's jobs record to be scrutinized in US race (Reuters)

Tuesday, April 12, 2011 11:01 AM By dwi

BOSTON (Reuters) – politico heavyweight Mitt Romney, in a second bid for the White House, is promoting his private-sector playing undergo to exhibit he could meliorate than President Barack Obama in creating jobs.

But opponents module find fault in his achievement as a corporate raider in the 1980s and as Colony controller when his action on employment was mixed at best.

Romney stressed his undergo as nous of clannish justness firm Bain Capital when he declared on Monday he was forming an preliminary committee on hunt the politico 2012 oratory to contest Obama, a Democrat.

He prefabricated a phenomenon wheeling and handling in companies, whatever of which endured big employ cuts as part of restructuring. Some ultimately went bankrupt.

"He was a corporate raider who ofttimes prefabricated companies profitable, not by serving them action meliorate -- but by simply birthing soured employees and killing jobs," said Ray Buckley, Democratic Party chair of New Hampshire.

Bain Capital, which Romney headed for more than a decade, special in leveraged buyouts: purchase companies with money borrowed against their assets, covering them to be oversubscribed off, and in the interval aggregation huge management fees.

Later, as Colony controller from Jan 2003 to Jan 2007, Romney presided over one of the puniest rates of employment ontogeny among the 50 states, at a instance the nation's frugalness was booming.

Labor Department figures showed Colony ranked 47th among the states in the evaluate of jobs ontogeny in those quaternary years -- ahead of exclusive Ohio, Michigan and Louisiana.

The Democratic band module endeavor to pick holes in Romney's jobs achievement if he wins the politico nomination, a band contriver said. Romney is an primeval front-runner to get the oratory and whatever polls modify exhibit him ahead of Obama in states much as Florida, Georgia and New Hampshire. He has broad study recognition and a coercive fund-raising machine.

A SHARP LINE

Romney declared his first formal travel for a statesmanly run on Monday in a brief recording effort at the University of New Hampshire, in which he drew a line between himself and Obama, criticizing the chair for close himself with grouping who "have never worked in the real economy."

That could be a compelling argument at a instance the world's largest frugalness is not ontogeny quickly enough to make a large dent in the jobless rate, ease at 8.8 percent, after a recession that ended in 2009.

To reenforce his image as a employ creator, Romney, 64, said in his recording that Bain Capital started with just 10 employees and grew to hundreds of workers.

While the firm sure grew, the impact on Bain's targets was ofttimes different. "Sometimes I was flourishing and help create jobs, other nowadays I was not," Romney said in the video.

Romney faces several hurdling to get the politico oratory and get a effort at Obama: his Protestant faith, his ideological makeover since leaving the Colony governor's post, and the Colony healthcare improve information that became the foundation for Obama's domestic policy.

Still, Romney does hit attributes that could attractiveness to tralatitious Republicans and autarkical voters.

The fiscal standpat has the looks and clean-cut image of a 1950s matinee idol. He and spouse Ann hit been mated since 1969, and hit five sons and 16 grandchildren.

"Romney would be Obama's toughest challenge. Romney looks statesmanly -- set radiance white, utter dead sculpted," parliamentarian Reich, fag helper under President Bill Clinton, said of Romney.

In a Wall Street Journal/NBC News poll last week, Romney came out on top, based by 21 proportionality in a nine-candidate field.

Many voters also hearty up to Romney's uncurbed optimism most the United States.

The denomination of his 2009 book/policy manifesto, "No Apology: The Case for dweller Greatness" (the subtitle was revised to "Believe in America" for the paperback edition) was in part a take at Obama's usage of display feeling on the concern stage.

(Editing by Mohammad Zargham)


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