Ducey served as CEO and principal of the Scottsdale-based ice cream franchise business between 1996 to 2007. Between 2001 and 2011, 42% of Cold Stone franchises receiving Small Business Administration loans defaulted. Kahala Corp. acquired Cold Stone in 2008.
Ducey has very much hung his gubernatorial hat on his Cold Stone tenure. [His opponent] wants to put a dent in Ducey's Cold Stone credentials. "Mr. Ducey has so far shared only half-truths about a venture that included failures, lawsuits, allegations of misdeeds and taxpayer subsidies," Smith said.
Coming out of the Great Recession, it is clear that we can do more to grow our middle class. In recent years Arizona has started to recover some of the jobs lost, but we haven't recovered enough of them, and the ones we have were largely achieved by adding jobs that don't allow Arizonans to financially support themselves and their families. We can do better. As Governor, Fred will be focused on creating an economy that grows our middle class, instead of shrinking it.
If we don't remove corporate money from politics, then the country will end up being run by corporations, he said. The whole point of government is to do what the people want, not what the corporations want.
We need to rebuild our engine of economic opportunity not just because it's the right thing to do, but because America is at its strongest when it is powered by a vibrant middle class. A vibrant middle class provides an infrastructure of opportunity for all Americans: good paying jobs, educational advancement and above all else, hope and economic security for future generations.
The first step we can take is to stop wasteful spending and ensure that tax dollars are being used smartly and efficiently. And before we even discuss cutting benefits or raising taxes, we should ensure that we all pay our fair share in taxes, including corporations that dodge their tax responsibilities.
ROMNEY: Let's go back to the auto industry in 2008. The three CEOs of the three major auto companies got in their private planes and flew to Washington and said, please write us a check. I think they wanted $50 billion. And I wrote an Op-Ed and said, absolutely not. These companies need to go through a managed bankruptcy, just like other industries have. And if they shed the excessive cost that's been put on them by the UAW and by their own mismanagement, then if they need help coming out of bankruptcy, the government can provide guarantees. No way would we allow the auto industry in America to totally implode and disappear. With TARP, there were some pretty high risks that not just Wall Street banks, but all banks would collapse
PAUL: First, I don't like the idea that you have good bailouts and bad bailouts. If bailouts are bad, they're bad, and we shouldn't be doing it. But this argument about maybe one that works, you know, the bailing out of GM worked, that's sort of like if a criminal goes out and robs a bank, and he's successful, therefore you endorse what he did, because he's successful. The government is supposed to protect contracts. They're not supposed to regulate contracts and they're not supposed to undermine contracts. And that's what we've been doing. A lot of people will accuse me of advocating a free market, that there's no regulations. Actually, the regulations are tougher, because you have to go through bankruptcy. And it isn't like General Motors would be destroyed. There were good parts of General Motors. But politicians can't figure this out.
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