Perry Drops ‘Vulture Capitalism’ From Speech, But It Still Hovers
EmailBLYTHEWOOD, S.C. – Rick Perry may have dropped his attacks on Mitt Romney and Bain Capital from his stump speech, but in two interviews today he was questioned about his critique, which some prominent Republicans are labeling as anti-entrepreneurship.
“Well it’s pretty hard to make the argument that the governor of the state that’s created more jobs than any other job in the nation is against the free market,” Perry said on FOX today when asked about accusations that his attack on Romney’s role at Bain Capital were anti-free market. “You talk about barking up the wrong tree. That’s a waste of time.”
“I think we’re making the point that the Republican Party should always be about creating an environment where jobs can be created. There are a lot of private equity firms that come in and they help build jobs, but in those cases where they’ve come in and basically taken the profits out of these companies and then sold them for a quick profit, I’m not for that and I don’t think most people in South Carolina are,” said Perry.
The Texas governor, who is doing a series of radio and television interviews today, was asked about the topic again on Laura Ingraham’s Radio Show.
Perry wants the people of South Carolina to evaluate Romney’s tenure at Bain Capital, specifically pointing to two area companies which Bain Capital took over and eliminated hundreds of jobs.
“It’s a matter about vetting a candidate,” said Perry on FOX. “I mean, I didn’t hear anybody questioning when they were attacking me for things that I’ve done. So the fact is this process is about winnowing out individuals who and testing whether or not they’re a flawed candidate or not. And I will tell you that when people can point to where you made a quick profit and kicked people out of their jobs, that is an issue that’s got to be addressed.”
Perry debuted the vulture line on Tuesday, but by Wednesday afternoon, the line of attack was removed from his speech. While meeting voters at the Lizard’s Thicket this morning, Perry never mentioned Romney or Bain Capital by name, instead only referencing the need to replace Washington and Wall Street insiders with an outsider like himself.
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As well it should. It is a valid question, and the voters should expect answers.
Lack of answers, indicates coverup.
Posted by: Rick McDaniel | January 12, 2012, 11:33 am 11:33 am
Perry has been a politician most of his life. What does he know about running a business? We need term limits for ALL ELECTED positions – and no retirement compensation.
Posted by: deanbob | January 12, 2012, 11:43 am 11:43 am
Deanbob — As far as I could tell, Perry’s only private sector job experience was working for his daddy on his cotton plantation for about seven years, before he got into politics. Somehow I doubt he was out pickin’ cotton, more likely he had a sales or desk job. And I agree wholeheartedly with term limits and no bennies after leaving public office.
Posted by: A Cynic | January 12, 2012, 12:08 pm 12:08 pm
Why should Perry back off? He’s absolutely right, Companies like Bain are vultures waiting to pick off companies that are on hard times. Maybe he thinks he’ll get the VP nod or a cabinet appointment if he doesn’t go to hard on Mitt.
Mitt tries to fool people into thinking he’s another Steve Jobs or Bill Gates. Nothing can be further from the truth.
Posted by: tmferretti | January 12, 2012, 12:14 pm 12:14 pm
It’s unfortunate that some people have resorted to reductionist sloganeering malgining free enterprise and capitalism.
It’s counter intuitive to take the ‘profits’ out of a financially ailing business. If the business was producing healthy profits, then it wouldn’t require restructuring.
Usually these firms have some core business model which may still be viable but are facing considerable challenges and usually have operating losses and require investment and restructuring.
Taking on this challenge is risky and complex. It may require cost shedding, layoffs, mergers, and investments in equipment or machinery – to restore operating profitability.
By doing this successfully, the viability of the firm is ultimately salvaged.
A surgeon sometimes has to amputate a gangrenous limb to save the life of the patient. If we focus on the very act, it seems to be harming the patient by cutting them with a scalpel, but if you see the bigger picture – saving the life of the patient is the greater good, therefore the amputation is better than inaction.
Posted by: Romney Supporter | January 12, 2012, 1:19 pm 1:19 pm
These venture capitalists as well as those who do hostile takeovers to strip a company of assets and lay everyone off, should have strict legal limits on their actions. This is not positive free market stuff as they say, in too many cases this is simply vultures showing up for the easy pickings, at the expense of workers, creditors and pensions.
Posted by: Librarian53 | January 12, 2012, 1:32 pm 1:32 pm
Libs thought Perry was a moron five minutes ago, now he is the author of their talking points.
Posted by: borntoraisehogs | January 12, 2012, 1:50 pm 1:50 pm
I couldn’t believe Perry’s desperation…He and Gingrich really put their foot in their mouth and that is why neither is qualified to be President!! When looking at the posts in this article, it is easy to see that most are young, inexperienced, ideologues. Older people are usually conservative, because they have actually lived life, they have actually seen the great depression, they have seen what it takes to raise a family and most of all they understand personal responsibility. Romney can do the best job and at the same time satisfy the widest demographic. And…. best of all he was at the top of his class at Harvard..He is an open book……Obama’s record is shrouded and unavailable….Harvard Law review was based at the time on an essay, not grades…Need I say more. OK, I will look at the stats and our growing debt!!
Posted by: Connie Davis | January 12, 2012, 2:30 pm 2:30 pm
It’s unfortunate that some people have resorted to reductionist sloganeering maligning free enterprise and capitalism. Posted by: Romney Supporter | January 12, 2012, 1:19 pm.
Let me guess: word of the day toilet paper?
Extraction capitalism, or vulture capitalism, is legal. Moral or ethical? Different argument. Romney did nothing illegal as far as we know. For example, Bain bought a steel mill in KC in 1993 which was not in trouble. They bought it as an investment asset to be managed. It went bankrupt in 2001 under their expert management. They made tens of millions off the company in the eight years they managed it. “Bain’s involvement with GST Steel was detailed Friday by the Reuters news agency. In the story, former workers said Bain had mismanaged the acquisition, loading up the company with debt while earning profits for itself and in the end abandoning some of its pension commitments.” This is how corporate raiders operate. Legal? Probably. Moral or ethical? You decide.
Posted by: A Cynic | January 12, 2012, 2:30 pm 2:30 pm
Rick Perry is an imbecilic Aggie who divulged his paltry intellect when he declared that he is “the governor of the state that’s created more jobs than any other job in the nation”. Furthermore, presuming that he invoked “job” as a synonym for “state”, Rick Perry created zero jobs. A large percentage of jobs which others created in Texas were taken by illegal aliens, who continue to sashay into Texas because Rick Perry refuses to prosecute employers who hire them. Another large percentage of jobs was created by the federal stimulus which he opposed. Another large percentage of jobs was created by the existence of oil in Texas, which Rick Perry did not create. Rick Perry whimpered “I didn’t hear anybody questioning when they were attacking me for things that I’ve done”. That is because attacks on Rick Perry were veristic. Rick Perry’s denunciations of Mitt Romney are invalid and dishonest.
Posted by: Todd | January 12, 2012, 3:06 pm 3:06 pm
A case of the ladle calling the spoon …Thanks for feeding the” rats” Rick- you have helped to exploit the illegal , itinerant workers more than any other.Btw, an image consultant would steer you away from parting your hair in the middle -it makes you look like Jed Clampett.
Posted by: GrooveAnew | January 31, 2012, 12:03 pm 12:03 pm