Sunday, September 30, 2012

Quotation Of The Day: Like Father, Like Son? Not Necessarily! Edition

From this Rick Perlstein Rolling Stone post:
That's another rebellion against his late dad. Not only was George Romney, that loser, ironclad in his ideological commitments; his vision of how capitalism should work was in every particular the exact opposite of the one pushed by the vulture capitalist he sired. (If George Romney's AMC was around now, Mitt Romney's Bain Capital would probably be busy turning it into a carcass.) A critic once said he was "so dedicated to good works his entrance into politics is like sending a Salvation Army lass into the chorus at a burlesque house." As a CEO he would give back part of his salary and bonus to the company when he thought they were too high. He offered a pioneering profit-sharing plan to his employees. Most strikingly, asked about the idea that "rugged individualism" was the key to America's success, he snapped back, "It's nothing but a political banner to cover up greed." He was the poster child for the antiquated notion that corporations have multiple stakeholders: the workers that breathe them life, the communities in which they are situated, and the nation to whom they owe a patriotic obligation – most definitely and emphatically not just stockholders, as Mitt and his defenders say.[emphasis in original]

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