Isn’t a Bainful Turnaround What America Needs?

There’s a very troubled company out there called U.S. Government, Inc. It’s teetering on the edge of bankruptcy. And it badly needs to be taken over and turned around. It probably even needs the services of a good private-equity firm, with plenty of experience and a reasonably good track record in downsizing, modernizing, shrinking staff, and making substantial changes in management. Yes, layoffs will be a necessary part of the restructuring.

A quick look at the income statement of this troubled firm tells the story. Just in the past year (FY 2011) the firm spent $3.7 trillion, but took in only $2.2 trillion in sales revenues. Hence its deficit came to $1.5 trillion.

Just in the first three months of the new year (FY 2012), the firm’s troubles continued. Outlays for all purposes came in at $874 billion, but income was only $554 billion. So the shortfall was $320 billion. No hope of a self-imposed turnaround here. Indeed, both the senior management and the board of directors show no signs of making major changes to their business strategy.

Hope for future profits? That’s out of the question. The firms only chance of survival is a takeover.

Worldwide employment for U.S. Government, Inc. is estimated to be over two million, a completely unmanageable number for a venture like this. Total compensation for this company is roughly twice the level of its private-sector counterparts. And its retirement and health-insurance benefits are so large in relation to contributions paid that its benefit plans are careening toward insolvency.

In fact, the total debt of this firm now equals its total income -- an unsustainable position that suggests to many observers that future financing needs will not be met.

The product line of this troubled firm has been rejected over and over by growing segments of its customer base. And its product pricing (taxes) is not even remotely competitive. Even worse, heavily unionized work rules and regulations are so onerous that the prospects for even reasonable productivity and efficiency are long gone.

Its credit rating? That’s been marked down, with more downgrades expected in the future.

The very troubled U.S. Government, Inc. had long been either number one or in the top three worldwide in terms of economic freedom. But as a result of all these deteriorating conditions, it has fallen four years in a row in this category, slipping all the way to tenth. In fact, over the past ten years, the firm has barely grown and its share price has been flat. Without the kind of radical change that comes from a takeover and turnaround, more economic slippage is baked in the cake.

Restructuring this company seems a hopeless proposition. But wait a minute. There’s a highly regarded private-equity operation located in Boston that has a good (but not perfect) track record in turning around hopeless ventures. Though there have been failures for this firm, notable successes include Staples, The Sports Authority, Domino’s Pizza, and Steel Dynamics.

Anyone operating in business knows full well that even the smartest reorganizing firms are prone to failure as well as success in our free-market capitalist system. But the customer base of the troubled U.S. Government, Inc. seems like it is desperate enough to go the takeover route.

Some are concerned that private-equity specialists are too hard hearted. But in these tough times, people are willing to take a risk. That even includes the current CEO of the failed U.S. Government, Inc., one Barack Obama. He just announced plans to merge the Department of Commerce, the Small Business Administration, and the Office of the U.S. Trade Representative. In other words, he’s borrowing a private-equity tactic.

Alas, this move is way too small and way too late. Much more radical surgery will be necessary.

At a recent family election in New Hampshire, the former head of the Boston takeover firm, one Mitt Romney, emerged victorious with a sweep of all the key voter segments. Sounding like Ronald Reagan on the evening of his victory, the former turnaround CEO expressed confidence that the troubled U.S. Government, Inc. could be saved. He was even optimistic.

But he warned that if family members expected a bidding war for more unpaid-for benefits with excessive price tags, well, he wouldn’t be the man for that job. Tough measures would be necessary instead.

So now the question is, will America, Inc. ask this former turnaround CEO to prevent the bankruptcy of U.S. Government, Inc.? Isn’t a Bainful turnaround exactly what America needs?

Romney's ineptitude is obvious from 1) Seamus 2) his governor ship of Mass. (worst performance ever)
3) the 911 Mosque, and 4) ROMNEYCARE.

Romney for Obama in 2008

Late in October, The American Spectator's The Prowler revealed:
"Former Mitt Romney presidential campaign staffers…
have been involved in spreading anti-Palin spin to reporters, seeking to diminish her standing after the election.
'Sarah Palin is a lightweight, she won't be the first, not even the third, person people will think of when it comes to 2012,'
says one former Romney aide…
'The only serious candidate ready to challenge to lead the Republican Party is Mitt Romney.
"Some former Romney aides were behind the recent leaks to media, including CNN, that Governor Sarah Palin was a 'diva' and was going off message intentionally."

The Palmetto Scoop reported: "One of the first stories to hit the national airwaves was
the claim of a major internal strife between close McCain aides and the folks handling his running mate Sarah Palin."
"I’m told by very good sources that this was indeed the case and that a rift had developed, but it was between Palin’s people and the staffers brought on from the failed presidential campaign of former Gov. Mitt Romney, not McCain aides."
"The sources said nearly 80 percent of Romney’s former staff was absorbed by McCain and these individuals were responsible for what amounts to a premeditated, last-minute sabotage of Palin."
… aides loyal to Romney inside the McCain campaign, said The Scoop, reportedly saw
that Palin would be a serious contender for the Republican nomination in 2012 or 2016, which made her a threat to another presidential quest by Romney.

"These staffers are now out trying to finish her off ….hoping it would ingratiate themselves with Mitt Romney."

"Who's the Palin Leaker from the McCain Campaign?
National Review Online The publication of a Vanity Fair profile of Sarah Palin
appears to have opened old wounds in the McCain campaign.
... the source of the “Diva” leak was Nicolle Wallace’s husband."

"Peeking Out From the McCain Wreckage: Mitt Romney"

"Someone's got to say it: IS MITT ROMNEY RESPONSIBLE FOR OBAMA'S VICTORY?"

"Vanity: Team Romney Sabotaged Palin and Continuing to Do So?"

"Romney Supporters Trashing Palin"

"Romney advisors sniping at Palin?"

Romney's bad behavior Exposed by Seamus

"Romney Loses Nomination Over Dog Abuse? - Romney was traveling that summer with his wife, five sons, and Seamus to his parent's cottage on Lake Huron. But hours into the ride, Seamus apparently suffered diarrhea, which ran down the back window of the car. .David Kravitz wrote on BlueMassGroup, a liberal blog. "It also strikes me as classic Romney: it solves a problem efficiently, in a business-like manner, and with no regard whatsoever for the suffering that the solution may cause."

"But the details of the event are more than unseemly - they may, in fact, be illegal. Massachusetts's animal cruelty laws specifically prohibit anyone from carrying an animal "in or upon a vehicle, or otherwise, in an unnecessarily cruel or inhuman manner or in a way and manner which might endanger the animal carried thereon. "An officer for the Massachusetts Society for the Prevention of Cruelty to Animals responded to a description of the situation saying "it's definitely something I'd want to check out." The officer, Nadia Branca, declined to give a definitive opinion on whether Romney broke the law but did note that it's against state law to have a dog in an open bed of a pick-up truck, and "if the dog was being carried in a way that endangers it, that would be illegal."

"Dog on Roof? What Was It Like for Romney's Pooch? - Scientists Say Dog Likely Experienced Wind-Whipped, Uncomfortable Trip - "Before beginning the drive, Mitt Romney put Seamus, the family's hulking Irish setter, in a dog carrier and attached it to the station wagon's roof rack. e'd built a windshield for the carrier, to make the ride more comfortable for the dog,".. Jordan Kaplan, the owner of Petaholics, a dog walking service in New York City,
and a lifelong dog owner and dog lover, said Romney's actions were uncalled for"

"Romney's dog - This is a distinction Mitt Romney probably could do without, but he is surely the first presidential candidate to be attacked for putting a dog with diarrhea in a carrier and tying it to the top of a station wagon. Romney's defense: Seamus liked it. [like the citizens under Romney's RomneyCARE, etc.?] "

"As the oldest son, Tagg Romney commandeered the way-back of the wagon, keeping his eyes fixed out the rear window, where he glimpsed the first sign of trouble. ''Dad!'' he yelled. ''Gross!'' A brown liquid was dripping down the back window, payback from an Irish setter who'd been riding on the roof in the wind for hours. As the rest of the boys joined in the howls of disgust, Romney coolly pulled off the highway and into a service station. There, he borrowed a hose, washed down Seamus and the car, then hopped back onto the highway."

"Story about dog on car roof comes back to bite Romney - 200 comments from readers complaining of animal cruelty"

A politician cannot run/fix a private enterprize via politics, nor can a private enterprize be operated by a political entity.

I think I remember hearing that Jefferson is supposed to have said, "The business of America is business"

If that's true, we're long overdue for the demise of Monkey Ward's or Roebuck or ...

If we walk into the corporate office of US Gov't and look at all the pictures on the wall of past presidents/ceo's, I think we'd have to come to the conclusion from around 1900 that the lot of 'em were becoming more scoundrel than honorable businessman.

Romney may have at one time been involved with successful business ventures ... that was then this is now.

All we have to do is think of our own lives objectively.

I'm soon to be 64 (REALLY 64 .. I get a birthday this year (Feb 29) . ), and I USED TO BE a very strong and dextrous worker.

I USED TO BE (when I saw the strong and dextrous begin to diminish), a pretty successful salesman.

I USED TO BE (When I perceived demographic changes in my market) a pretty good truck driver.

Now ...

The eyes and ears are failing, my body screams at me when I awake, I have a life pak of various medicines and medications and my beloved wife knows just how and where to massage aches/pains and pleasures for/from and to my self.

WHY does Romney continue to want to be President?

As I see things these days, Sarah arrived just at the right time for both America and her ... but they deestroyed a perfect opportunity.

Sarah is the smarter of 'em all because she saw the reality, and packed another 'chute ... she's OK, America lost.

Mitt should go home and let Newt cut the thread holding Damaclese's sword overhead.

Newt has fire, guts and brains ... and just as good and poor judgement as any man.

I have been a Republican all my life, probably will die a Republican. I have been voting since 1974. The present GOP is not the GOP of yesteryear. Compared to the Red Threat that occupies the White House, these candidates seem conservative, but then, so wouldn’t Chairman Mao.
All war is attrition. We, the Republic, have been loosing a war of financial attrition for decades. We, the Republic are engaged in a war with those who govern us. Drastic measures are required to defeat this enemy in order to stop the bleeding that each of us are seeing in the depreciation of our savings, the constant onslaught of taxes, fees, and licenses. Each of them designed to remove our ability to live free.
If a slave is a person who works for no money, then a paid person who works with no money left for savings or investment is therefore a slave. In each case work is done, the slave is fed and roofed.
We have no choice but to vote for the candidate who will without hesitation stop the death of a thousand cuts. Bring the troops home, set them up defending our boarders to stop the invaders(illegal immigrants), while they spend their paychecks here bolstering our economy instead of someone elses.
If we need to declare war, then we do so, and like in the past, ramp it up again.
Reduction of all Federal Spending, and all taxes, fees, and other theft apparatus, is the only way to save our Republic.
All the candidates have faults and planks we don’t like. But at this time we need an Anti Federal Reserve, spend slashing nut job. It’s our only chance.
Vote Ron Paul, and plead, beg, and demand the others drop out of the race.
They are not interested in the Republic.

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.