Obama national co-chair Pena works in private equity

The Liberals GOP Twin wrote:

LadyJazzer wrote: Crickets?

No... "Who cares?" would be more like it...

Nobody said that P.E. was a bad thing. The way Romney and Bain practiced it was reprehensible, and taking credit for jobs created after you were out of the picture, while running away from jobs and contracts you destroyed while you WERE there, is despicable. He lies about being a "job creator" when it wasn't about jobs--it was about creating wealth for the investors. That's not a qualification for POTUS. And if he wants to try to use that as a talking-point, it's fair game.

God, I love the IGNORE function...

Obama said a P.E. is a bad thing...

"Their priority is to maximize profits," Obama said during a news conference after the NATO summit in Chicago. "And that's not always going to be good for communities or businesses or workers."

http://content.usatoday.com/communities ... 7-4qiqtP7c

But those equity firms are evidently good for Pena, for Obama's campaign contributions, for many politicians, for public and private unions investment portfolios and multitude of private companies investment portfolios. It is hypocrisy at the highest order for Obama to make the above statement when there is so much money being handed around from the profits of an equity firm. Equity firms are structured to make the most of their investments, and there is ALWAYS going to be someone or some company who is going to take a hit.

That's the way equity firms work. And that's the way all of these investors and politicians above have realized profits and favorable returns from these firms. There's a good chance that YOU have benefited from equity firms profits. Sorry... Obama can't have it both ways.

The hypocrisy of the left is a bad thing.

And lies and distortions once again. Where did President Obama say that private equity firms were all bad? He stated, as is fact, that their function is to maximize profits for their investors, which may sometimes be bad for their workers and neighborhoods.

If the lies and distortions of the right were purchasable on the stock market?

Twinny just doesn't get it. No one, including Obama, is saying that private equity firms are bad......only that some of the consequences of their actions are bad for communities and businesses. Same with Republicans......Republicans are not inherently bad....but put them in office and bad things happen.

You all don't get it. This attack on Romney and P.E companies is bombing for Obama. Plain and simple.

Let's look at the Obama administrations effect on various companies...

● Raser Technologies. In 2010, the Obama administration gave Raser a $33 million taxpayer-funded grant to build a power plant in Beaver Creek, Utah. According to the Wall Street Journal, after burning through our tax dollars, the company filed for bankruptcy protection in 2012. The plant now has fewer than 10 employees, and Raser owes $1.5 million in back taxes.

● ECOtality. The Obama administration gave ECOtality $126.2 million in taxpayer money in 2009 for, among other things, the installation of 14,000 electric car chargers in five states. Obama even hosted the company’s president, Don Karner, in the first lady’s box during the 2010 State of the Union address as an example of a stimulus success story. According to ECOtality’s own SEC filings, the company has since incurred more than $45 million in losses and has told the federal government, “We may not achieve or sustain profitability on a quarterly or annual basis in the future.”

● Nevada Geothermal Power (NGP). The Obama administration gave NGP a $98.5 million taxpayer loan guarantee in 2010. The New York Times reported last October that the company is in “financial turmoil” and that “[a]fter a series of technical missteps that are draining Nevada Geothermal’s cash reserves, its own auditor concluded in a filing released last week that there was ‘significant doubt about the company’s ability to continue as a going concern.’ ”

● First Solar. The Obama administration provided First Solar with more than $3 billion in loan guarantees for power plants in Arizona and California. According to a Bloomberg Businessweek report last week, the company “fell to a record low in Nasdaq Stock Market trading May 4 after reporting $401 million in restructuring costs tied to firing 30 percent of its workforce.”

● Abound Solar, Inc. The Obama administration gave Abound Solar a $400 million loan guarantee to build photovoltaic panel factories. According to Forbes, in February the company halted production and laid off 180 employees.

● Beacon Power. The Obama administration gave Beacon — a green-energy storage company — a $43 million loan guarantee. According to CBS News, at the time of the loan, “Standard and Poor’s had confidentially given the project a dismal outlook of ‘CCC-plus.’ ” In the fall of 2011, Beacon received a delisting notice from Nasdaq and filed for bankruptcy.

http://www.washingtonpost.com/opinions/ ... story.html

What about...

President Obama’s auto task force pressed General Motors and Chrysler to close scores of dealerships without adequately considering the jobs that would be lost or having a firm idea of the cost savings that would be achieved, an audit of the process has concluded.

The report by Neil M. Barofsky, the special inspector general for the Troubled Asset Relief Program of the Treasury Department, said both carmakers needed to shut down some underperforming dealerships. But it questioned whether the cuts should have been made so quickly, particularly during a recession. The report, released on Sunday, estimated that tens of thousands of jobs were lost as a result.

“It is not at all clear that the greatly accelerated pace of the dealership closings during one of the most severe economic downturns in our nation’s history was either necessary for the sake of the companies’ economic survival or prudent for the sake of the nation’s economic recovery,” the report said.

http://www.nytimes.com/2010/07/19/busin ... .html?_r=2

Further...

Issa, who has been a vocal critic of the Obama administration’s handling of the GM and Chrysler government takeovers, said the SIGTARP report should “serve as a wake-up call as to the implications of politically-orchestrated bailouts and how putting decisions about private enterprise in the hands of political appointees and bureaucrats can lead to costly and unintended consequences.”

The California Republican also said the fothcoming report will say “GM did not consistently follow its stated criteria and that there was little or no documentation of the decision-making process to terminate or retain dealerships with similar profiles, or of the appeals process” and that “making termination decisions with little or no transparency and making a review of many of these decisions impossible…”

http://washingtonexaminer.com/opinion/b ... 09459.html

Going on the Obama administrations past record of causing the elimination of thousands of jobs, I'd say Romney is looking rather good.

And in passing, here is Debbie Wasserman Schultz refusing to answer the question about the thousands of jobs lost in the auto bailout.

From CNN...

[youtube:5zgz2yjf]

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Put that in Elizabeth Warren's peace pipe and smoke it.

So when Obama's handlers & puppet masters fire people and cash out businesses it is all good, but when Romney does it, it is evil? And some people believe we have a choice in November...

The Liberals GOP Twin wrote:

Kate wrote:

The Liberals GOP Twin wrote: rofllol crickets.

Just curious, but in real life, when you are actually talking to people (not anonymously across a chat forum,) do you taunt them face to face if they don't respond to you?

Just curious... do you lie to people, to their face like you do on this forum? Either that, or you are just a lap dog for the left, parroting talking points without even checking for their validity or truthfulness. Yes... when I am debating someone, face to face, over a heated issue I will question their silence. This is a forum Kate... not church on Sunday.

Seriously, are you this rude in person? Do you have any friends? I'm sure you've noticed that traffic here is down in the last few months. You do know you're the reason for a lot of people leaving this site, don't you?

I'm just suggesting that perhaps you should stop being an ass and be a little more civil.

Kate wrote:

The Liberals GOP Twin wrote:

Kate wrote:

The Liberals GOP Twin wrote: rofllol crickets.

Just curious, but in real life, when you are actually talking to people (not anonymously across a chat forum,) do you taunt them face to face if they don't respond to you?

Just curious... do you lie to people, to their face like you do on this forum? Either that, or you are just a lap dog for the left, parroting talking points without even checking for their validity or truthfulness. Yes... when I am debating someone, face to face, over a heated issue I will question their silence. This is a forum Kate... not church on Sunday.

Seriously, are you this rude in person? Do you have any friends? I'm sure you've noticed that traffic here is down in the last few months. You do know you're the reason for a lot of people leaving this site, don't you?

I'm just suggesting that perhaps you should stop being an ass and be a little more civil.

Suggestion noted.