Newt Gingrich’s recent criticism of Mitt Romney has landed him in hot water.
At issue is Bain Capital, a venture capital firm Romney ran, which made its money buying up troubled businesses and selling the assets at a profit. Gingrich questioned the validity of that business experience as it relates to qualifications for being President. Gingrich’s comments were labeled as anti-Capitalist and even compared to policies of Democrats and President Obama.
It was argued Bain did the things we advocated for during bail-outs. Didn’t we argue for letting failing businesses fail, be bought by investors like with the process governed only by Market forces? Yes, we did. How then, can Gingrich’s comments be seen as anything but anti-Capitalist?
The answer lies in asking where Romney’s business experience came from; not in simply acknowledging he has some and moving on. The question is “What sort of business experience are we talking about, exactly?”
Near my home is a property recently bought by a convenience store chain to build on. To build the new store an existing building was torn down. The key point here is that the company which demolished the building and cleared the land is not the same one building the new store.
Why? Because the skills and experience needed for the two tasks are very different and, while they may be lumped together under the general label “construction,” to suggest a skilled demolition company is automatically a good builder because it can tear down is readily seen as a flawed premise. Just so with Romney’s appeal to his business experience and Speaker Gingrich’s critique of that appeal.
Romney’s business experience certainly qualifies as Capitalist and Free Market just as a demolition company is a construction company. But his experience is in dismantling businesses, not in building them, creating jobs, putting people to work and the other portions of Capitalism and Free Markets that happen after old things are destroyed.
The President’s job will not be to tear America down like a vacant and derelict building. It will be to fix what has fallen into disrepair; to restore the values and and ideals that drove us to first place among the world’s nations. That was Reagan’s strategy after the disaster that was Carter. He didn’t tear America down or break her up as if some or all of her was past saving or no longer relevant. Instead he cast a bold, bright future of shining hilltop cities with their best days ahead of them.
Romney’s experience in dismantling things, as excellent as it may be, is better suited for an America at sunset; not for a time when it is morning in America.
Some may try to apply my analogy to the political and suggest Romney would be great at dismantling political things such as ObamaCare and the rush to Socialism we are seeing in Washington DC. But Politics and Business are very different enterprises. Skills in one may not readily transfer to the other.
Not even Romney is arguing his political experience better qualifies him for the Big Chair. There is a good reason for that.
If dismantling powerful political structures is the goal, no candidate’s experience compares to Newt Gingrich. He put the Contract with America’s issues front and center and forced votes on them. He led and oversaw the flip of the House from Democrat to GOP control. While Bill Clinton often takes credit for balancing the budget, spending bills originate in the House. Newt Gingrich was Speaker of the House during that time. No list of accomplishments is complete without remembering passing Welfare Reform. Again, Speaker Gingrich led that effort.
This is the context in which Gingrich’s comments need to be placed and evaluated. Not the frantic search for an easy sound bite driven by a 24 hour news cycle; but the thoughtful and honest evaluation of the actual skills and talents available to bring to bear on the challenges facing our Republic in the midst of difficult times.
Seen in this light, Speaker Gingrich and his comments and evaluation don’t seem anti-Capitalist or anti-Free Markets at all. In fact they seem wiser and more thoughtful than he is being given credit for.
What of Governor Romney? His business experience, as excellent and as Capitalist as it is, does not produce the best skill set for running a nation facing the challenges we do in 2012. The Governor is a fine man and successful businessman. He’s just not the best man for the job.

#1 by rhonda b on 01/17/2012 - 02:20
5 YEARS ROMNEY HAS BEEN RUNNING FOR PRESIDENT, AND DOESNT HAVE OR EXPECTS TO SHOW HIS TAXES? WHO IS HIS BEST FRIEND IN BUSINESS? GEITHNER?.ROMNEY WOULD ALLOW AMERICANS GO TO PRISON FOR EVER WITH OUT A TRIAL? IAM SUPPOSED TO BELIEVE THE GOP'S BEST CANDIDATE,WHO HAS 18 POLYGAMIST NEVER MARRIED(MORMANS OWN DOCTRINES) GRANDMOTHERS? I BELIEVE THE 2 HEADED SNAKE,DEM & GOP VIPER HAS RAISED ITS UGLY HEADS AND EXPECTS AMERICANS TO DRINK THE JIM JONES KOOL-AID…TENNESSEE FELL FOR IT, AND NOW WE HAVE BLACK-CORKER-ALEXANDER-HASLSAM- COHEN-COOPER-FORD,TO NAME A FEW… AND HOWS THAT WORKING FOR YOU ? YUCK
#2 by TnPatriot on 01/17/2012 - 11:15
Here's a good article for evaluating Newt's experience in FULL context.
http://thenewamerican.com/opinion/jack-kerwick/98…
#3 by Dave Patterson on 01/20/2012 - 08:14
To be open and honest at the outset, the Muse and I are friends but we disagree about Newt's attacks on Mitt's experience at Bain. I am not a Romney supporter as I find him too "moderate," for my tastes. That having been said, I am deeply troubled by the former Speaker's attack and his complaint that Bain made "too much," on the sale of some of the companies they sold. Why did they make $130 Million, wouldn't $100 Million been enough, complained Gingrich. The answer is a simple, would you sell your car to a dealer for $6,000 if the dealer told you it was worth $8,000? To take the former Speaker to task, why did he take $1.2 Million from Freddie Mac, wouldn't $700,000 have been enough? This entire arguement is very troubling to me. I believe in economic freedom, where the market decides what goods and sevices are worth, not the government. My message to Newt is this: you sound like Obama or the communists in the Occupy Movement. Bain bought failing companies and fixed them. Then they sold them off. Attack Romney for Romney Care, taxes, abortion flip flops, and job creation when he was governor. These are all fair game. Attacking a man for doing his job well and making money is Democrat class envy.
#4 by Blue Collar Muse on 01/20/2012 - 08:38
I must whole-heartedly agree with Dave – we are friends.
We remain friends despite disagreements because a man I agree with 80% of the time is not an enemy. He is a strong and natural ally.
That is true Dave. That is also true for Speaker Newt …
#5 by free online movies on 02/03/2012 - 13:26
This post is really so true! Why have I not thought of the before?!
#6 by ned on 02/04/2012 - 11:26
Ken, Do you think it is accurate to say that Bain simply destroyed or dismantled businesses? From what I have seen, and to use your analogy, Bain was tearing down the old property, salvaging/preserving what was useful or had value, selling or reconfiguring the remaining ingredients and then launching the enterprise anew or finding a willing purchaser of it. Like Dave Patterson, I have other problems with Mitt, but can't fault him for his experience at what appears to have been a successful business.
And that doesn't mean that Newt has some of those same skills, but hectoring Mitt because some business was run into the ground or because some loser union thug lost his sweet, socialist and inefficient-to-everyone-but-himself gig is not Conservative. At least that's my opinion.