Barack Obama’s reelection campaign has a problem with the truth, according to Washington Post fact checkers.
The campaign’s latest advertisement falsely accuses Republican presidential nominee Mitt Romney of being a “corporate raider,” according to the Post.
We also have closely studied Bain Capital and can find no examples that come close to this situation; its deals were done in close association with management. Indeed, Bain generally held onto its investments for four or five years, in contrast to the quick bust-em-ups of real corporate raiders. So calling Romney a “corporate raider” is a real stretch.
The ad garnered 4 Pinocchios, the highest rating in the fact checking system. It also featured lies about Bain Capital that the Post had previously bashed as untrue.
The Obama campaign rests its case on three examples of Bain-controlled companies sending jobs overseas. But only one of the examples — involving Holson Burns Group — took place when Romney was actively managing Bain Capital.
Regarding the other claims, concerning Canadian electronics maker SMTC Manufacturing and customer service firm Modus Media, the Obama campaign tries to take advantage of a gray area in which Romney had stepped down from Bain — to manage the Salt Lake City Olympics — but had not sold his shares in the firm. We had previously given the Obama campaign Three Pinocchios for such tactics.
The Modus Media case is also not an example of shipping jobs overseas. The company closed one plant in California and transferred the jobs to North Carolina, Washington and Utah. At the same time, it opened an unrelated plant in Mexico. The Obama campaign once trumpeted the fact that we had dinged a conservative Super PAC for making the same leap in logic.
The claim that Romney outsourced jobs as governor is equally overblown.