McCain’s Opposition Research – Part 5


Via or from BuzzFeed comes an opposition research file compiled by the McCain campaign in 2008.  The document is 194 pages long.  These are pages 10 and 11 of the document, still part of the Executive Summary.

TOP HITS

BUSINESS RECORD

  • Romney spent most of his business career as CEO of private equity firm Bain Capital – as of June 2007 he maintained an investor’s stake in the company.
  • Bain Capital has been criticized for relentless focus on bottom line at expense of workers and jobs.
  • Romney describes himself as a “business legend” in his campaign ads and once said of himself: “I’m basically in the investor’s Hall of Fame.”
  • Bain Capital and Bain & Co. employees donated at least $171,000 to Romney’s presidential campaign in Q12007 and gave tens of thousands more in support of his previous political activities.
  • Bain Capital financed 1988 buyout with junk bonds issued by Drexel Burnham – when SEC filed charges against the firm and CEO Michael Milken, Bain Capital maintained their business relationship; Romney later reminisced about “the glorious days of Drexel Burnham.”
  • In 2004, Bain & Co. received a multi-million dollar contract from the National Iranian Oil Company.
  • Romney sat on board of directors of Bain portfolio company Damon Clinical Laboratories, which in 1996 was fined over $100 million for Medicare fraud committed during Romney’s tenure.
  • Bain Capital owned company named Ampad that purchased an Indiana paper plant, fired its workers and offered to bring them back at drastically reduced salary and benefits – the firings became an issue in the 1994Senate race when workers blamed Romney for their situation and appeared in Kennedy campaign ads.
  • After Romney became governor, Bain Capital teamed up with Chinese appliance maker Haier Group in 2005in effort to purchase Newton, IA-based Maytag Corp. and send jobs overseas.
  • At least two Bain Capital companies – Stream International and Modus Media – focused on outsourced technical support services, expanding facilities abroad while contracting operations in the United States.
  • Bain Capital operated steel company called GS Industries which went bankrupt in 2001 after years of labor strife, closing a plant in Kansas City and laying off over 700 workers.

POLITICAL ISSUES

  • In late 2002, Romney described himself as “a progressive-on-social-issues governor of Massachusetts.”
  • Romney left the state GOP weaker than when he took over as governor, with the party described as being “at its weakest point in years.”
  • During 1998 panel on urban issues, Romney addressed need for Boston business communities to work together and claimed “Hillary Clinton is very much right, it does take a village.”
  • In 1994, Romney opposed the Contract with America without even reading it.
  • Romney has made political contributions to Democratic candidates, saying he places friendship above politics.
  • Romney appeared in 2003 TV ad endorsing Democrat Rocky Anderson – who has been outspoken in calling for President Bush’s impeachment over Iraq war – for reelection as Salt Lake City mayor; Romney featured an Anderson testimonial in his own TV ads while running for governor in 2002.
  • Romney proclaimed he wasn’t a Republican during the Reagan years, saying “I was an independent during the time of Reagan-Bush. I’m not trying to return to Reagan-Bush.”
  • Romney was an independent until deciding to run for the Senate in 1994.
  • Romney voted for Paul Tsongas in the 1992 Democratic presidential primary.
  • Romney has surrounded himself with policy advisers – like Gregory Mankiw, Vin Weber, Kerry Healey, Bill Weld and more – who do not share his beliefs on key issues.
  • Top Romney campaign aides and surrogates have ties to several recent Washington ethics scandals.
  • Romney’s spending decisions as chairman of the Republican Governors Association during 2006 election cycle “raised eyebrows” in light of his presidential aspirations
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