by Jeffery klein
What did GoDaddy.com founder and ex-Marine Bob Parsons get for his make-or-break decision to spend nearly their entire annual advertising budget of $3 million on a single, 30 second Super Bowl commercial in 2005?
An immediate, high-speed, express elevator ride to the top of the domain selling/web hosting industry–4 times larger than their second-place competitor–without any government help. Then, a little over six years later, KKR and Silver Lake Partners, two large private equity firms, closed a deal on June 24, 2011, buying 65% of the company for $2.25 billion–making Parsons a very wealthy man.
In stark contrast, what did President Barack Obama get after his campaign spent $100 million to ‘carpet bomb’ key swing-states with Romney/Bain Capital attack ads, as reported in David Espo’s July 15, 2012 Associated Press article in The Denver Post?
President Obama and Gov. Mitt Romney are effectively tied in the race for the presidency, with 47 percent of registered voters nationwide backing Romney, while 46 percent support the president, and 4 percent remain undecided, according to a new CBS News/New York Times survey.
This Obama campaign blitzkrieg dwarfed Romney campaign ad spending in the same period by a margin of 4-1 or more; but, most observers agree that Romney the numerous supportive GOP Super PACs appear positioned to seriously outspend the president and his allies.
In campaign fundraising alone, Romney has thrashed Team Obama, by $77 to only $60 million in May, and $106 to $71 million in June, according to Teresa Welsh’s July 10, 2012 U.S. News and World Report article.
After their financial shellacking in June, the president’s campaign sent out an E-mail to supporters, wherein Ann Marie Habershaw, the campaign’s chief operating officer wrote:
This is no joke. If we can’t keep the money race close, it becomes that much harder to win in November. We could lose if this continues.
Ms. Habershaw is obviously no stranger to a calculator, as when the $52 million fundraising advantage for Romney is combined with the net $75 million cash outflow on ad spending by Team Obama, Romney ended the period with a $127 million net positive cash position, notwithstanding what are probably equal campaign apparatus overheads for both.
The moral of this story is that President Obama attended over 100 fund raisers since the beginning of the year to afford this full court press, in attempt to distract voters from his dismal first-term economic record by demonizing Mitt Romney.
But alas…he failed again.
So, as the sore eyes of the nation are still squarely focused on the terrible economy and worsening jobs picture, it appears that the talent and resources of Romney & Co. will likely force Barack Obama to fall victim to his own “cash starved” campaign and dwindling poll numbers.
“Stay informed to stay ahead!”
Copyright 2012 by Jeffrey Klein
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