$300,050 to $65,975.
That's Colorado broadcast TV spending by the Obama SuperPAC Priorities USA Action and by the SuperPAC supporting Romney (my calculation from Westword's report for the period 4/30 to 6/25). That's five to one odds that may explain why Obama isn't sinking in Colorado polls. The key claim? Obama's backers attack Romney as a successful businessman, showing Obama's “first instinct is to see free enterprise as the villain and government as the hero.”
The senior strategist for the Obama-backing SuperPAC told Westword: “Romney and his firm made over $100 million from a company that went bankrupt and fired 275 Colorado workers.”
Will the attack work?
Polling showed attitudes tied nationally (21%-21%) on Romney's Bain Capital work in restructuring companies, but a majority said it won't be a “major factor” in their decision. The latest Purple Poll in Colorado showed a statistical tie (43%-44%) on private equity helping the economy or hurting workers. Looks like even people who are negative on private equity companies don't use this issue to decide who to support.
Let's test Obama's hero/villain mindset and look at two Colorado companies that Obama brought to prominence.
Obama-backed Abound Solar lost 280 workers this year while a Colorado Springs manufacturer owned by a Bain Capital subsidiary lost 275 workers twelve years ago.
Abound dumped Longmont workers this February according to reporter Todd Kindelspire. Abound had a $400 Million Obama loan when the Longmont jobs vanished. (Colorado Peak Politics reported more details … including Abound's ties to a noted Obama donor.) Last month Abound declined to appear before a Congressional committee “to avoid jeopardizing” negotiations and meetings with investors. At the very least Obama's scheme to use government money to pick winners and losers turned even the winners into losers.
Compare that story to the 275 lost jobs Priorities wails about. Details show Bain Capital is better for Colorado workers than Obama bucks spent on Abound Solar.
The Springs company that closed, NTI, was bought by a different company, DDI or Dynamic Details, Inc that Bain Capital and a partner had just purchased. New corporate cash kept jobs in Colorado Springs for two years before the tech bust made the plant unprofitable. While Priorities' mouthpiece doesn't admit it, some Springs workers got DDI job offers in Dallas. The shut-down occurred when Romney ran the Winter Olympics. So Romney had no part in the Colorado decision. The DDI bankruptcy didn't happen until 2003 – three years after the Springs plant was shuttered.
Today, including Colorado jobs, DDI has 1,200 workers. Abound's website reports: “There are currently a total of 0 open job(s).” GE, without Obama subsidies, is a strong competitor to wounded Abound. Not a bright picture for Abound.
Connecting Romney to DDI's efforts twelve years ago is like blaming Michelle Obama for the horrid Spanish economy because she vacationed there in 2010 at a taxpayer cost of $467,585.15 And Obama's backers look silly attacking Romney's business record given Obama's repeated failures as a venture capitalist gambling with and losing taxpayer dollars.