Mitt Romney gained his wealth and power on that playing field, and is campaigning with a promise to further tilt that playing field in favor of the few who already have great wealth and power. In 1986, Mitt Romney was two years into his tenure at Bain Capital and starting to feel the pressure. Average Staples salaries for job postings nationwide are 51% lower than average salaries for all job postings.

They can squeeze their suppliers for greater and greater concessions and then pocket the difference for themselves. Did Romney really have a hand in creating an office supply giant? Did Mitt Romney really "create 100,000 jobs" with Staples? That’s $16-20,000 a year, certainly not enough to support a family, or even pay rent in many areas, never mind buying food. Texas Is Limiting Ballot Drop-Off Locations. Our problem today is that a few people are able to change the rules of that playing field, for their own benefit. Each state has its own rules for mail-in absentee voting. Polling hours on Election Day: Varies by state/locality. We can demand better pay, higher taxes at the top, better products, better service, and all the things sensible people would demand if We, the People were really in charge. Staples grew into a major chain because they consolidated what different kinds of stores sold, offering a one-stop-shop for stationery products, office supplies, office-furniture, computers, etc. The same kinds of advantages also hold for other industries. Image credit: JONATHAN ERNST/Reuters/Landov. Don't we want businesses that benefit all of us? So the Wal-Mart business model has taken off and now there are any number of these vultures, ringing the cities and towns around the country, so often private-equity owned. These giant businesses have the wealth and power to force changes that move the benefits of business and our economy entirely to a few at the very top. Thank you for helping us improve PBS Video. Shine a light on government and corporate exploitation. To enable Verizon Media and our partners to process your personal data select 'I agree', or select 'Manage settings' for more information and to manage your choices. The reality is, less than 1 percent of readers ever donate to Truthout and recently even fewer people are giving. Also, how those opinions vary among voter groups, and who voters trust more for different aspects of the job. Staples did not "create" jobs, it shifted office-supply jobs from local stores, etc., probably to lower-paying jobs. Visit your state election office website to find out whether they offer early voting. Even if he's telling the truth by some measures, the fact is that private equity buyouts often enrich those who arrange them by sharp cost-cutting, including dismantling pay and benefits for most of the workers who remain or new hires who join the more "efficient" enterprise. We’ll send you the top news, analysis and commentary from Truthout’s reporters and leading progressive thinkers, as well as the best reprints from other independent news sources. Support the journalists that have been fighting back against dangerous disinformation since day one: Subscribe to Truthout’s daily newsletter and never miss a story.

The office-supplies firm went public shortly after and became a sensational success story. “These tabloid charges being shopped by Gloria Allred, one of President Obama’s most prominent supporters, are absolutely false,” Jones said. Find out more about how we use your information in our Privacy Policy and Cookie Policy. We have to come to grips with that.

Did Mitt Romney really “create 100,000 jobs” with Staples? What Staples did was force many competing stationery, office supply and computer stores out of business, probably shifting their employees into lower-wage jobs. The changes in our economy that are hollowing out the middle class come from the restructuring that Wal-Martization represents. We can change that. Visit your state election office website to find out if you can vote by mail. Romney made his money opertating on a playing field of business rules that let him and Bain and Wal-Mart and the rest do what they do. Back when Mitt Romney worked at Bain Capital, gargantuan warehouse-like office-supply stores seemed like a hot idea.

Allred said the transcript is “meaningless to the public” without her client being allowed to provide the proper context about Romney’s testimony and his knowledge of the company at the time. Again, businesses are neutral, operating on a playing field defined by us. We have to come to grips with that, and fix the system. We can remove the first video in the list to add this one. When Stemberg took the idea to Bain, Romney was intrigued, but his colleagues were uneasy. The transcripts, released late Thursday evening, show Romney being peppered with questions about the seeming conflict between the value he and fellow Staples board members set for the company’s stock at a key moment in the fall of 1987.

(And bad trade deals, never forget that.)



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