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John Cronin

Downturn Hits House Assets and Income

By: Alexander Bolton THE HILL

http://thehill.com/leading-the-news/downturn-hits-house-2008-06-16.html

Maybe the Pelosis should give Mitt Romney a call. I’ve heard he’s a pretty sharp portfolio manager. While they are at it, maybe they should ask him his advise on energy policy as well.

~~John Cronin~~

Congressional leaders lost millions of dollars in last year’s economic downturn.
New financial disclosure reports reveal, however, that while House members suffered losses, senators defied the odds and saw their profit margins rise.

Speaker Nancy Pelosi’s (D-Ca.) husband, the San Francisco financier Paul Pelosi, lost between between $880,000 and $7.4 million in various investments. As a result, the Pelosis earned only several hundred thousand dollars if income from their assets, which range between $29 million and $133 million, according to public records.

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John Cronin

House Passes Bill to Sue OPEC Over Oil Prices

We could sue the oil producing states when the price of gasoline gets “too high” for us, thereby encouraging the states to withhold supplies to the American market and also encourage another escalation in “protective” tariffs and other job destroying moves……or if push comes to shove we might consider drilling for oil right here in the Land of the Free and the Home of the Brave.

Just a thought.

~~John Cronin~~

http://www.reuters.com/article/topNews/idUSWAT00953020080520?
feedType=RSS&feedName=topNews&rpc=22&sp=true

By Tom Doggett

WASHINGTON (Reuters) - The House of Representatives overwhelmingly approved legislation on Tuesday allowing the Justice Department to sue OPEC members for limiting oil supplies and working together to set crude prices, but the White House threatened to veto the measure.

The bill would subject OPEC oil producers, including Saudi Arabia, Iran and Venezuela, to the same antitrust laws that U.S. companies must follow.

The measure passed in a 324-84 vote, a big enough margin to override a presidential veto.

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John Cronin

Drumbeat for Romney for VP Grows Louder

Brief article over at HOT AIR touts Mitt Romney for the vice presidential slot.
The article talks about the strength that Romney would bring to the ticket because of his mastery of business and economics. If Mitt is not picked for VP, I think this is what needs to happen.

The McCain campaign needs to send a message to conservatives, IMHO, in two areas of vital importance, or they will not be pleased with the results they get at at the ballot box in November.

1. We need an iron-clad promise to secure our borders and to enforce the existing laws on immigration.

2. We need a comprehensive economic policy that includes making the Bush tax cuts permanent, killing the death tax, balancing the budget and moving to reform the bloated entitlement spending that threatens to bankrupt this country.

Failing to accomplish this, the feckless leadership we have been getting from the Republican Party at the national level, will usher in eight bleak years of Democratic rule.

I know I am repeating myself, but I will say it again. Unless grassroots Republicans rise up and retake this party in order to guide it back toward the conservative principles that made the Party and the country great, we are going to lose this election. If there isn’t two cents worth of difference between the Democrat’s platform and the Republican’s platform, who cares which party wins? Obviously the career politicians do, but I am talking about the voters who have to pay for all of this.

We are not getting our money’s worth!

~~John Cronin~~

http://hotair.com/archives/2008/05/01/pew-mccain-gaining-at-the-center/

The economy will present a critical test for McCain. He has worked on building economic chops, and his campaign has notable assistance in this area from Steve Forbes and even Mitt Romney. Obama’s stumble on capital-gains tax increases could help narrow this gap, but thus far the McCain campaign hasn’t offered any focus on that gaffe from the April 16th debate.
McCain could use a well-recognized hand on economics as a running mate. I’ve suggested that Romney could fill that role, although Allahpundit has been less enthusiastic. Romney did a great job with fundraising in 2007 and could help fill a critical gap there as well. Now that Jeremiah Wright has managed to splatter himself all over Obama, not too many people would worry about Mormons in the general election. Mormons aren’t known for asking that God damn America or promulgating weird conspiracy theories about HIV and government-sponsored genocides. Wright’s demagoguery has taken the Mormon issue off the table, if Obama wins the nomination.

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Ann Marie Curling

How Mitt Romney Saved Bain & Company

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Paul Johnson

Defending against dishonesty

How do you defend against attacks that are purely dishonest? Barack Obama had to struggle with that issue last week when the Clinton machine went after him. Perhaps we can take solace in his resounding win in the Democratic contest that took place yesterday. But I believe the short answer to that question is: control the message (i.e., change the subject).

Readers here know what McCain said about Mitt’s comments weren’t true. I’d seen the clip McCain was referring to weeks ago, and there was nothing in there about Mitt proposing or supporting a timetable for withdrawal: it was about whether there may be a Bush administration timetable and how if there was one it was important not to share any such timetable with our enemies. So why the manipulation of the facts by McCain? As others have said here, it’s likely that he’s seen his lead slip in Florida and felt he needed to do something to change the subject. So let’s change it back.

Unfortunately, as Senator McCain likes to say when he’s not the source of the attack, “you don’t mud wrestle with a pig, because you both get dirty and the pig likes it.” Of course it’s quite hyporcritical for McCain to be doing what he did today (e.g., abandoning “straight talk” and his “principles,” going negative, criticizing Mitt for a position McCain endorsed, etc.). But it’s apparent a discussion of any topic but the economy would be an improvement for him.

So let’s remind ourselves of what Mitt’s message is:

1. Washington is broken. Nothing serves as better evidence of this than McCain’s recent attacks. If we want more of the same we can send the same sorts of people back to Washington. McCain has been there 24 years; now he wants to be President. If we obliged, it’s hard for me to see how things would change, in particular given McCain’s legendary inability to work well with others in the Senate and the vendettas / back room favors he’ll owe if he goes back.

2. The economy needs Mitt. Since the days of Clinton and before, it’s always been about the economy. You can’t have a strong national defense if we dont have manufacturing and a strong economy at home. You can’t be a strong nation if you have to buy all your equipment from your enemies. And the American economy won’t be strong if we can’t keep the jobs from flowing out to our overseas competitors. So we need to send someone to Washington who has an intimate knowledge of the economy and can fix the many manifestations of problems we’ve had recently: stock market crashes, surging oil prices, real estate collapse, mortgage melt down, etc. Unfortunately, John McCain does not have the requisite experience, and has repeatedly said he’d have to find someone else to help him with this issue. McCain didn’t support the Bush tax cuts, then he did. Then he said he wanted to cut government spending to stimulate the economy. Unfortunately in the short run cutting spending would harm the economy and make it more likely to push the country into recession, or at least offset the benefits of any tax rebates. Unfortunately, as he’s said himself, he just doesn’t know enough about economics.

3. Mitt stands for strong families, and he wants to appoint judges to the Supreme Court that will read the Constitution as the framers intended it, not in a manner that creates new laws without a democratic process. Not all the other candidates have this same priority. McCain in fact has gone up against his own party on the issue of judges being appointed, and has a very spotty record on issues of family values.

4. Mitt stands for legal immigration, but “turning off the magnet” on illegal immigration. McCain very recently proposed a bill that would have allowed illegal aliens to stay in the country indefinitely. His own party rejected this stance only a few months ago, but he seems ill-at-ease saying he was wrong.

We’ve got lots of positive parts of our own message to spread without getting distracted by McCain’s attack. I’m positive that staying on message will benefit Mitt incredibly (as it’s done in Florida so far), while indulging in mud wrestling allows the media to just report on the wrestling match. I’m hoping that the media really gives it to McCain today for his intentional misrepresentations, but even if they don’t, let’s keep on task and keep spreading our own message.

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Ann Marie Curling

The Romney Agenda: The Romney Economic Stimulus Plan

I don’t have the time to make it all pretty right now, so just go to this link.

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Paul Johnson

McCain campaign apparently violates donor policy (from the Politico)

We all knew McCain had bootstrapped his campaign from near-bankruptcy earlier this summer. The campaign was bragging about this after their NH 1st place showing, talking about how they’d pledged their donor list to a bank for a loan. Here’s what was reported at the Politico yesterday:

Back on the plane, he [McCain campaign manager Rick Davis] reiterated that they had not accepted federal matching funds nor used anticipated receipt of funds to guarantee the line of credit they took out late last year to keep their campaign afloat.

The collateral, Davis said, was their fundraising list. The windfall from selling or leasing such a list was sufficient to get them their cash.”

I wondered at the time whether that was a great idea, and whether donors would be happy about their private, confidentially-given information being pledged to a bank, sold or leased.

Now we find out that McCain’s actions likely violated his own privacy policy. That’s the form you get in the mail saying what the recipient of your private info, like on a credit card application, plans to do with it. I believe the content of these policies is voluntary, meaning you can sell info, you just have to tell people your plans. McCain apparently didn’t. Here’s what McCain’s policy says, in bold in the original: “We will not sell your personal information.”

According to the related story at Politico, the McCain campaign is spinning the angle that “it’s customary” and that all the campaign’s assets were pledged. While that’s likely true, a struggling political campaign’s only valuable asset is the donor list, which would suggest that the campaign, likely with John’s awareness, was probably offering their donors’ private info to one or more banks in trying to get that loan. And while it’s customary to pledge assets to banks when repayment is iffy, it’s also customary for banks to foreclose when loans aren’t repaid, which was a real danger at the time. It looks like the campaign either wilfully violated their own policy or didn’t read their own fine print. Or maybe McCain will try to walk the tightrope that is the semantic difference between “sell” and “pledge.” Perhaps John should have called a lawyer…

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David Kim

Romney is the Real Deal

Great article from Ronald Kessler over at Newsmax on why Mitt is the best candidate. The whole thing is worth a read.

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David Kim

Why I am supporting Mitt Romney for President

As we approach the primary voting season, there are more and more new folks finding their way to our humble blog. The information I found on this blog was extremely helpful to me as I assessed the various candidates in search of “the One.” As such, I thought it would be fitting for me to share why I am a staunch supporter of Governor Mitt Romney in his run for the White House.

In a nutshell, Mitt Romney is the only “full-spectrum” Conservative who can rally the support of all three wings of the Reagan coalition, namely, Social, Economic, and Foreign Policy Conservatives.

For a full treatment of Mitt Romney’s positions, I would refer you to his comprehensive policy book “Vision for a Strong America.” Let me summarize here, however, the highlights across the major issues:

Foreign Policy
o War against Islamic Fascism: We are engaged in a multi-front war which will require using all of our military, economic, and diplomatic might to win; we must defeat the terrorists and those who aid and abet them as well as help the Muslim people enter the 21st century (click here and here)
o Iraq and Afghanistan: The surge is working and we must do what it takes to help Iraq and Afghanistan become stable democratic allies in the war on Islamic Fascism and support our troops (click here and here)
o Iran: Iran must not be allowed to become a nuclear state; diplomacy and economic sanctions are critical, but may not be enough; the military option must remain on the table (click here)
o Military: Need to increase defense spending to a minimum of 4% of GDP to make sure our armed forces have the equipment they need in the field and the support the need back home; the best ally of peace is a strong America (click here and here)

Economic Policy
o Taxes: We need to keep the Bush tax cuts permanent, eliminate the Death Tax, and cut taxes on capital gains, dividends, and interest to zero for the Middle Class (click here, and here)
o Spending: We need to restrain Federal spending and close the deficit; will veto any budget where non-defense discretionary spending growth exceeds inflation minus 1%; Need to give the President a line-item veto; Strong track record of financial management from Massachusetts where he closed a $3B deficit and turned it into a $1B surplus without raising taxes; carry out a comprehensive review of government spending to increase efficiency and effectiveness (click here and here)
o Entitlements reform: Maintain benefits for current Seniors, but institute fundamental reforms combining slowing the rate of increase for benefits based on income, extending the retirement age, individual retirement accounts, and no tax increases (click here)
o Healthcare: Mitt Romney is the only candidate on either side of the aisle who implemented a universal health care plan; He covered all of the citizens of Massachusetts using market-based insurance without raising taxes; Governor Romney advocates a Federalist state-by-state approach to make health insurance more affordable for everyone (click here)
o Globalization: Continue to trade around the world but make sure we negotiate level playing fields in foreign markets and upgrade American competitiveness through investments in education and innovation (click here and here)

Culture and Values
o Illegal immigration: Control the border first and turn of the “magnets” that attract illegal immigrants by implementing an employment verification system, no special path for illegal immigrants to become citizens (i.e. no amnesty), no sanctuary cities, increased enforcement by local police agencies (click here, here, and here)
o Traditional marriage: In favor of amending the constitution to keep marriage defined as between a man and a woman; fought the Massachusetts Supreme Court to prevent the state from becoming a destination for same-sex couples looking for marriage licenses (click here and here and here)
o Life: Much has been made of Governor Romney’s switch from being Pro-Abortion to Pro-Life; This is a critical issue for me; I have heard many times why he made this change, and I believe him; I believe that Mitt Romney will fight for the rights of the unborn and be a great leader in supporting Life (click here, here, and here)

The choice of a nominee and President, however, is not strictly a “right-brained” decision based on policy statements and positions. There needs to be something inspirational about a candidate whether it’s the way that they speak to a crowd, interact one on one, or something about their personal story that sets them apart.

Experiencing Mitt through articles and videos really helped seal the deal for me. Below, I have listed some of what I would consider the best of the best articles and videos that helped me come to the decision to support Mitt actively. I’m sure I’m missing some great material, but there is a lot down below. I would encourage you to click through as much of this as you can, and if you have a favorite that wasn’t listed, please leave a link in the comments!

Key videos, speeches, appearances, and articles:
Articles
o Romney to the Rescue (Newsmax) – Great overview of Mitt Romney
o National Review’s endorsement of Mitt Romney
o The House that Mitt Built (Private Equity International) – Behind the scenes view of how Mitt ran Bain Capital and his leadership style
o The Making of Mitt Romney (Boston Globe) – Reasonably balanced biography of each of the major phases of Mitt’s life starting from his youth through today
o Consultant in Chief (Wall Street Journal) – Interview of Mitt where he talks about how he would fix the Federal Government
o For Romney & Company, Campaign is all Business (NY Times) – How Mitt runs his campaign and what it would mean for his Presidency
o Evangelicals for Mitt statement of support
o Mark DeMoss on why Evangelicals should support Mitt
o Ann Romney Opens Up (People Magazine) – Great interview with Ann; she would be a fantastic First Lady!

Speeches
o “Faith in America” – Seminal address on the role of religious faith and liberty in our nation
o Address to the Value Voters Summit – Seminal address on culture and value issues
o Iowa Straw Poll victory speech
o Highlights from the Republican debates (click 1st, 2nd, 3rd, 4th, 5th, 6th, 7th, 8th, 9th, 10th)
o Speech at CPAC 2007 – One of Mitt’s first major addresses to the leading grassroots gathering of Conservatives; one of his best speeches in my opinion
o Presidential Campaign Announcement – Mitt announcing that he’s running and why he’s running

Campaign videos
o Biographical overview video of Mitt Romney (click part I, II, III, IV, V, VI, and VII)
o “Path to Victory” webcast – Mitt and Meg Whitman (CEO of eBay) discussing the 2007 campaign and discussing the plan for 2008
o Retrospective of Governor Romney’s campaign in 2007
o Online “Ask Mitt Anything” – For those of us who don’t live in an early primary state, Mitt held an online town hall meeting which provides a really good overview of his key positions
o Christmas 2006 – Behind the scenes look at the Romney family and how they made the decision together that Mitt should run for President; cynics have criticized this video as contrived, but I love the fact that he has held his family together while achieving such exceptional success; you can’t fake this stuff

Media appearances
o Mitt on Jim Cramer of CNBC’s Mad Money – Great interview by Jim Cramer where he calls Mitt the “Best businessman in America”
o Mitt on ABC News talking about Ann – Great interview of Mitt where he discusses what he loves so much about Ann
o Mitt on Meet the Press – Tim Russert throws everything he’s got plus the kitchen sink at Mitt who proceeds to address each point in a clear, classy, and compelling way

My favorite TV spots
o “Searched” – Compelling true story of how Mitt Romney shut down Bain Capital and moved all the employees to NYC to search for and find the daughter of one of his partners
o “Choice: Judgment” – Striking contrast ad highlighting Mike Huckabee’s 1,033 pardons and clemencies (more than 2x his three predecessors) vs. zero from Mitt Romney
o “Choice: The Record” – Ad contrasting Mitt’s record on illegal immigration vs. Mike Huckabee’s record of supporting tax payer funded scholarships and in-state tuition for illegal immigrants
o “Not Politically Correct” – Mitt’s record supporting life, English immersion education, and traditional marriage
o “Experience Matters” – Ad highlighting the lack of real world, executive experience on the part of Hillary Clinton (and equally applicable to the other Democrats)
o “Ready for Action” – Summary of Governor Romney’s stump speech in 60 seconds; user-generated ad based on a contest that was run back in September
o “Our Home” – Some precious footage of Mitt playing with his children and grandchildren; focuses on the importance of strengthening our families
o “Leadership” and “Energy” – I just love the images of Mitt jogging through the backwoods and the focus on his track record in business; I think he’s the only politician I’ve seen jogging where it looked like he was actually in shape…not just a photo op
o “Ocean” – Ad lamenting the degradation of our culture and Mitt’s thoughts on how he would like to address it; as a parent this one really resonated with me
o “Tested, Proven” – One of his early ads highlighting his track record in Massachusetts
o “I Like Vetoes” – Ad highlights his track record of vetoing excessive spending; no doubt in my mind that he’ll control spending after seeing this ad and other times when he has addressed this topic

Finally, it is one thing to support Mitt with your vote, but I’d like to ask you to consider supporting Mitt in a more active way. Like many of you, I had always followed politics, but never became active in politics (other than voting) until this year in support of Governor Romney.

This year is different. First, this is arguably the most consequential election in over twenty years. The challenges and issues that will be faced by our next President will have far reaching ramifications for our children and grandchildren.

Additionally, we face a set of candidates on the Republican side who represent vastly different positions and perspectives, some of whom threaten to tear asunder the Reagan coalition that has served us so well. Whether it is the socially liberal and sanctuary city defending Rudy Giuliani, the divisive, theocratic, soft on crime and illegal immigration, and fiscally populist Mike Huckabee, or the McCain Feingold, “Gang of 14”, and pro-Amnesty John McCain, there are clear differences in the way that each of these individuals would take the Republican Party.

If you’ve found this persuasive, please do whatever you can to support Mitt Romney’s candidacy. If you’re from Iowa, please caucus for Mitt (get more information here). Winning Iowa is job one between now and January 3.

If you are not from Iowa, please stay informed by checking in here at Elect Romney in 2008 every day. Make a donation to help Mitt win the media air war. Put on a bumper sticker or put up a yard sign (get them here). And most importantly, talk with your friends, family, co-workers, and neighbors about why you’re supporting Mitt Romney! Personal testimonials from trusted individuals are by far the most effective ways to gain more supporters for Mitt!

If you still have questions or remain unconvinced, leave a comment and we’ll do our best to answer your question. Or better yet, if you are also a Mitt supporter, leave a comment telling us why! Thank you for reading!

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Mike Laub

Dennis Kneale discussing Gov. Romney on CNBC’s “Kudlow & Company.”

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David Kim

Romney gets results…just look at how he runs his campaign

November 24th, 2007 | 3 Comments | Posted in 2008, Bain Capital, Business Acumen, Mitt Romney, NY Times

Great article in the NYT (imagine that!) about Governor Romney’s campaign and what it tells us about his management style and capabilities.

November 24, 2007
For Romney & Company, Campaign Is All Business
By MICHAEL LUO

Presidential campaigns, with their boiler-room pressure, news media scrutiny and organizational challenges, have always functioned as something of a dress rehearsal for the White House. How do the candidates make tough decisions? Are they willing to listen to opposing points of view? Do they micromanage?

These questions have taken on a particular edge among the candidates for the Republican presidential nomination, who have remained for the most part ideologically close to President Bush but are trying to cast themselves as more competent.

Mitt Romney, in particular, is staking his campaign in large measure on his image as a managerial guru. He has emphasized his advantage on this score on the stump, saying it derives from the data-driven, analysis-laden business practices he acquired in his years in the private sector — and which his aides say are evident in how he runs his campaign.

“What concerns me about Washington is that people have answers before they’ve gathered any data, done any analysis, solicited opinions from people who disagree,” Mr. Romney said in an interview. “From the business world, you look at that and you say, ‘You’ve got to be kidding.’”

No governing from the gut for Mr. Romney, his aides say. This is a man who relishes “metrics,” is always on the lookout for data to frame discussions and brings a devil’s advocacy to every discussion, whether it focuses on policy formation or advertising.

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Ann Marie Curling

Business Skills Pay Off For Romney

This story from The Politico details just how Governor Romney has used his impressive business acumen to run his campaign with precision.

BOSTON, Mass. — Mitt Romney built a fortune by taking over troubled companies and making the tough business decisions and shrewd financial adjustments to turn them into winning investments for himself and investors in his firm, Bain Capital.

In similar ways, Romney is applying the same tactics in his quest to win the 2008 Republican Party primary and the White House.

BOSTON, Mass. — Mitt Romney built a fortune by taking over troubled companies and making the tough business decisions and shrewd financial adjustments to turn them into winning investments for himself and investors in his firm, Bain Capital.

In similar ways, Romney is applying the same tactics in his quest to win the 2008 Republican Party primary and the White House.

Which raises the question: How did he get here?

A visit to his Boston headquarters overlooking the Charles River provides some clues.

The first thing that hits you is that it is not the typical paper-strewn, crowded, chaotic political headquarters. The lobby is furnished with faux suede chairs and a couch. The walls are decorated with pictures of Romney meeting troops and of his father, George, sitting in the Oval Office with President Richard Nixon.

It’s an interior design reflecting the private-public partnership that runs through the Romney operation: the investors and businessmen who know Romney from his Bain Capital days who today are teamed up with the professional political strategists from Washington.

Our own Victor Lundquist had a tour recently and posted about Governor Romney’s Headquarters that were just mentioned.

Once again here are his pictures…







Head on over to The Politico for the rest of the story, it’s GREAT stuff.

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