Jan. 9, 2012 - PPM - Bainfull Discharge of Envy

This week's PET PEEVE MONDAY (PPM) concerns the topic that has dominated the news and political ads this week: Mitt Romney's tenure at Bain Capital

Since when did capitalism or turning a profit become a negative?

Mitt Romney is under attack from the left, the right, and anyone wanting to be President, because of his management actions while running Bain Capital.

His task, was to maximize earnings and the return on stockholders equity. Yes, he bought distressed and undervalued companies. Yes, he may have broken up the companies, laid off people, and sold assets. But, he served a purpose. Would it have been better that a company go Chapter 11, or worse, Chapter 7?

Bain, and Romney by default, made lemonade out of lemons. Think of it as a doctor that keeps a terminal patient alive in order to harvest the organs that might save or extend 6 other lives.

I worked for a company that used to cap salespeople earnings at $150,000 a year. Quotas were the same for every salesperson each year. All of the best salesmen would "max-out" in March. With no incentive to record additional sales, they would spend the next 9 months holding orders, golfing, or vacationing until the next year.

Finally, the executives of the company lifted the earnings cap and decided to assign personal quotas based on prior performance. Sales, earnings, stockholder return, and, yes, salesman compensation soared.

Why cap potential or demonize success?

At what point does capitalism become obscene? At what point should it be "Capped"?

I want a President or CEO that is focused on the "Big Picture" and results. There should be nothing wrong with being the best.

To admonish or penalize Romney for being a business success only adds credence to the class warfare rhetoric that Obama has offered since his coronation.

Is it the taint of greed or just plain ENVY?

Well done, Mr. President. May we all be adequate, average, and unmotivated.