Wednesday, May 16, 2012

Average Joe

It is reported this morning that VP Joe Biden will be delivering a speech this afternoon in Youngstown, OH lambasting Mitt Romney’s career as head of Bain Capital. A quote from his prepared remarks (as if he’ll stick to the script) states: “In the 1990s, there was a steel mill in Kansas City, Missouri. It had been in business since 1888. Then Romney and his partners bought the company. Eight years later it went bankrupt. When the company finally filed for bankruptcy, they reneged on their contract with the workers. No health care, lower pensions. Everyone lost their jobs. But not everyone got hurt. The top 30 executives walked away with $9 million. And Romney and his partners walked away with at least $12 million." 
Having, myself, grown up in one of America’s great steel towns, I am well aware of the tragedies visited upon that industry—a tragedy rightfully laid at the feet of management, unions and government. The point is, any U.S. steel producer still doing business in the 1990’s sustained their profitability well beyond the industry average. 
Nonetheless, this is campaign season and we can expect lots of “glove’s off” parlance in the coming weeks and months. To be fair, what follows is an in-depth, step-by-step analysis of Joe Biden’s history as a productive member of the public sector workforce: 

Thank you, Mr. Vice President.


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