Is a former private equity boss the right man to take on the world’s biggest government job?
US voters will decide this November in the presidential election, but in the meantime it is worth examining whether the skills that made Mitt Romney $250m are the same as those required by the leader of the free world.
Stating the obvious, private equity is so-called because it does not operate in the public arena. It is a pure capitalist pursuit in which investors buy companies and try to sell them for a capital gain. There is an intense focus on returns for shareholders and rather less concern for citizens as a whole. Generally speaking, corporate social responsibility, sustainability, disclosure and environmental issues are not as much a priority as they are to public companies, charities and government.