Romney Camp Admits That Its Bain Job Creation Number Is Bogus
Krugman
January 4, 2012, 4:42 PM
Romney on Jobs
By that standard, everyone who’s spent a lot of time with slot machines is a big winner, since only the pluses count.
http://krugman.blogs.nytimes.com/2012/01/04/romney-on-jobs/
Romney Camp Admits That Its Bain Job Creation Number Is Bogus
By Pat Garofalo posted from ThinkProgress Economy on Jan 4, 2012 at 5:20 pm
Mitt Romney, last night’s Iowa caucus winner, has been on the campaign trail claiming that the private equity firm he ran, known as Bain Capital, was responsible for creating loads of jobs.
Romney responded to criticism about his time at Bain by saying, “I’m very happy in my former life; we helped create over 100,000 new jobs.”
When a group of Romney backers ran an ad making the same claim, they were unable to back up the number with data. And as it turns out, the Romney camp can’t either, as it admitted that the statistic is nothing but cherry-picked job growth from a few companies that did well after they were bought by Bain:
*****(Romney spokesman Eric) Fehrnstrom says the 100,000 figure stems from the growth in jobs from three companies that Romney helped to start or grow while at Bain Capital: Staples (a gain of 89,000 jobs), The Sports Authority (15,000 jobs), and Domino’s (7,900 jobs).
*****This tally obviously does not include job losses from other companies with which Bain Capital was involved — and are based on current employment figures, not the period when Romney worked at Bain. (Indeed, Romney made his comments in response to a former employee of American Pad & Paper Co. who says he lost his job after Bain Capital took it private.)
more:
http://thinkprogress.org/economy/2012/01/04/397565/romney-admits-bain-jobs-bogus/
http://www.washingtonpost.com/blogs/fact-checker/post/romney-vs-obama-on-job-creation/2012/01/03/gIQA31g3YP_blog.html
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