Romney a Lock - You Can Put it On the Board YESSSS!!

http://www.deptofnumbers.com/blog/2011/03/how-much-have-americans-saved-for-retirement/

54 percent of retired households have less than $25,000 in savings. What percentage have all they need and an extra $25,000 lying around?

Mitt is advocating solutions that apply to, maybe not only to the 1 percent, but certainly not a large percentage of the population.

 

What percentage of folks who have college aged kids are already retired? And, if they are, they're probably doing well.

And, the parents in this case have the money to send their kids to a $28,000 private college. They're ideal candidates to hit up for an investment.

And, you don't have to limit it to just your parents. Family & friends. That's how small businesses are funded. It is.

People want to say Romney's out of touch? OK, where would you tell a college kid to look to for funding?

And, in the Jimmy John's example, the son was 19. His dad told him to go to college, join the military, or start a business.

The son was able to buy out his father's 48% stake less than two years later. What a great success story!

 

And Steve Jobs built a great computer company. Therefore that avenue is equally accessible to all, and policy should be to tell everyone to be a billionaire and that'll take care of it.

 

This seems pretty common for those on the right.

 

What does this have to do with what Romney said.

Where would you tell someone to go for funding to start a business?

When I was looking into starting my own business, I took a class at the local community college, which had a small business incubator. They told everyone to go to the people who love you for funding.

But, in practical terms, it doesn't have to be your parents. Countless people have started out as dishwashers, moved up in the kitchen proven themselves, and found someone to fund their own restaurant.

It happens. But, it doesn't happen unless you work for it. Sitting around complaining about the "1%" isn't going to get you anywhere.

 

The Small Business Administration, some of Clinton's enterprise zones, all kinds of other avenues are (or were) open. And that's what Romney apparently believes we need to get away from, so only people who know people with money can get anything started. When they told you to go to the people you love for money, the people you love HAD money.

And anyway this is mostly just a red herring as it usually is when you get to talking about this. The answer to preserving the economy is not for 110 million people to open their own businesses.

 

The local community college at one of my stops linked RAIN funds with entrepreneurs, instead of telling people to hit up their relatives for cash. At least the college knew that telling entrepreneurs to look to family for funds was untenable in a poor area.

 

If you have no experience, and no collateral, you're unlikely to qualify for an SBA loan. The SBA guarantees loans made by banks. You still need to qualify for the loan. You get better repayment terms.

But, a college kid who wants to open a sandwich shop isn't going to get money from the SBA.

And, as I pointed out in my last post, and countless other threads, it doesn't have to be your parents. But, it has to be someone who trusts you, and believes in you. That's how dishwashers become chefs, and then restauranteurs.

Build a track record, and people will invest in you if you present them with a realistic investment opportunity.

It's not a red herring. I've never said 110 million people starting their own business is the answer for all of our economies woes.

I have said that for individual persons, interested in improving their lot, starting a business might be a good way to go. And, we need to encourage it, because it creates jobs, and wealth. We need new businesses.

And, Romney was talking about entrepreneurship. He wasn't saying everyone should start their own business either. It's not for everyone, but it might have made sense for some in the audience he was speaking to.

And, it does work. I met a guy from the Madison, Wisconsin area in a training class six months ago. Talked to him today, and his business is doing really well.

 

Well, that settles it. The guy in Madison is doing well. There's really no need to consider the 90 percent failure rate of new restaurants.

It's ultimately but one more example of just how detached Romney is from the world.

 

Anyone who thinks you can easily borrow $20,000 from your parents has never met my parents.

 

And ohbytheway guess what happened the other day? The NLRB ordered Jimmy John's to rehire six workers it fired because they complained about sick pay. The reason they were fired is that because they had to find a replacement if they called in sick or else they'd be fired, so when they made the sandwiches they cautioned customers about their illnesses.

Jimmy John's sounds like a wonderful company and an American success story. What's the green sauce, anyway?

http://kstp.com/news/stories/s2593965.shtml

 

The president has an enemies list, but apparently we're not allowed to discuss it. Apparently the mods want to cover for him, too.

http://online.wSportsJournalists.com/article/SB10001424052702304723304577368280604524916.html