Oct 8, 2010
Snyder makes more money while killing more jobs
The Nov. 2 election can’t come quick enough for Rick “Chief Executive Outsourcer (CEO)” Snyder.
He has been busy ducking debates, holding townhall meetings in front of friendly audiences and doing everything possible to let the 30-seciond TV commercials he spent millions on to create this false image of him to do his talking for him. To put it in sports terms, he is doing his best to run the clock out and maintain his lead as more and more evidence that paints a true picture of him trickles out.
The latest comes from his very friendly hometown “newspaper” Ann Arbotr.com. In this story, we have another example of the CEO getting richer while killing more jobs.
Snyder has cited Pittsfield Township-based HandyLab as an example of how he is a “job creator,” but on Thursday HandyLab announced it will be closing its Pittsfield Township office and moving to Maryland. “Ann Arbor venture capitalist Rick Snyder was chairman of HandyLab when the company was sold to BD” for $275 million to $300 million in October of last year.
“It’s the same old story with Rick Snyder,” said Michigan Democratic Party Chair Mark Brewer “He ran Gateway into the ground before selling it to the Chinese, and now he makes money selling HandyLab and then it closes and lays off Michigan workers. Snyder’s businesses have a history of making money for Snyder, laying off workers, closing their doors, and leaving Michigan. It’s déjà vu all over again.”
Since the outsourcer stopped spending his millions on 30-second TV ads after the primary election that painted this warm, fuzzy but false image of him as a lovable but tough nerd, the foreign-financed Republican Governors Association (RGA) has been running disgusting, false attack ads against his opponent, Gubernatorial nominee and Lansing Mayor Virg Bernero, on his behalf.
The outsourcer claims he supports transparency, but he refuses to ask the RGA to release information on how much money it’s spending on the ad buys and stop bullying TV stations. The RGA is refusing to buy ads at any TV station that gives that info out, causing them to lose millions of dollars in ad revenue.
As the election inches closer, more negative stuff continues to leak out about the outsourcer, such as two of his companies have tax liens against them. However, the biggest strike against him has always been his record at Gateway computers.
While Snyder was an official at Gateway Computers, the company outsourced nearly 20,000 American jobs to China and other parts of Asia. But Snyder took good care of himself at the same time - cashing-out tens of millions of dollars in stock options while the lives of thousands were ruined.
While he served on the board of directors Snyder was sued in 2000 along with two other Gateway executives. The issue was that Snyder cashed in on 355,000 stock options worth $23.7 million at a time that executives admitted they misrepresented the company’s financial outlook.
“Rick is trying to paint himself as a job creator when, in fact, he’s a jobs killer,” Brewer said. “Everything he touches he makes money while everyone else suffers. Those aren’t the qualities Michigan voters are looking for in their next governor.”
The only question is can the outsourcer hid the truth about him from the voters before Election Day, and people that a man who can’t even name the Chief Justice of the Michigan Supreme Court is going to run state government.
If his past record hold’s true, he will pocket a ton of cash after two years and bail.