Mobile UPI  |   About UPI  |   UPI en Español  |   UPI Arabic  |   UPIU  |   My Account
Search:
Go

Romney's equity past may be a target

|
|
 
  
Published: Aug. 3, 2008 at 2:10 PM

WASHINGTON, Aug. 3 (UPI) -- Some members of the U.S. private-equity sector are bracing for a political beating if former colleague Mitt Romney becomes John McCain's running mate.

Romney, a former Massachusetts governor and ex-presidential hopeful, was once involved in the equity business and will likely be portrayed by the Democrats as a corporate raider whose contribution to society is taking over struggling companies and laying off scores of employees in order to score a quick profit.

Democratic strategist Mark Mellman told Politico Sunday the issue would surely come up should McCain, Arizona senator who is the presumptive Republican presidential nominee, select Romney to be his vice presidential running mate.

"This is an economy where people are on edge about things like downsizing and getting laid off and here's a guy who has wielded that knife," said Mellman, who worked on John Kerry's presidential campaign in 2004.

Politico said some equity players are also concerned that a higher profile for Romney will shine a spotlight on tax policies that benefit their industry.

Topics: Mark Mellman, Mitt Romney
© 2008 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.

Order reprints
  
Join the conversation
Most Popular Collections
Notable deaths of 2012 Scripps National Spelling Bee AmfAR Cinema Against AIDS gala
Indianapolis 500 Presidential Medal of Freedom Memorial Day around the nation
Additional Top News Stories
1 of 20
Singer Janelle Monae arrives at the 2012 MTV Movie Awards in Universal City, California
View Caption
Singer Janelle Monae arrives for the MTV Movie Awards at the Gibson Amphitheatre in Universal City, California. UPI/Jim Ruymen
fark
Man turns dead pet cat into remote-controlled helicopter, calls it art (w/WTF pics)
"Good News" clubs teach children in public schools the Biblical importance of killing all nonbelievers...
Five arrested in prostitution sting. Article lists their names, ages and distance from a church
Photoshop this power tower technician
Driving drunk and unlicensed, with a kid not even buckled let alone in a safety seat, en route to...
Man killed in Spencer fire. The lava lamps must have ignited the blacklight posters