Thursday, January 12, 2012

Burying the lede?

In a front-page story today, the Washington Post discusses Mitt Romney's role with Bain Capital, specifically as it relates to Staples, Dominos, and the Sports Authority:
In 2006, [Staples] revenue outside North America accounted for 13 percent of revenue. In 2010, the share was 21 percent... from $4.7 million in 2006 to $10.8 million in 2010... During the depths of the recent recession, it laid off about 140 employees... In 2004, Staples bought a small company called Hartford Office Supply...

In March 2008, Domino’s announced that it was cutting roughly 50 employees...

Sports Authority in 2003 merged with Gart Sports...
While some of these numbers seem quite trivial (a 50-employee cut for a megabusiness in the depths of the Great Recession is not bad at all), the story buries the lede: Mitt Romney has secretly remained a Bain Capital director throughout his time as 2002 Olympics CEO (1999-2002) and Massachusetts governor (2003-2007), and even during his two presidential candidacies (2007-present)! This is big news: Mitt Romney is still the puppetmaster behind layoffs at Dominos, sets executive wages and global strategy for Staples, and is trolling for Sports Authority takeovers.

Alternately, it could be that the Jia Lynn Yang just wrote a really lazy article, didn't bother doing the research to learn how these businesses changed during the years when Romney was actually involved.

2 comments:

Chops said...

Yes, I appreciate the irony of a blogger coming off a month-long hiatus to call out someone else for laziness.

Anonymous said...

Stop stealing my thunder.

Jonathan