In the run-up to Saturday's GOP presidential primary in South Carolina, candidates have clashed over the role of Bain Capital — a firm that either creates or kills jobs, depending upon whom you believe.
Front-runner Mitt Romney sees the bright side. Before entering politics in the 1990s, he co-founded Boston-based Bain Capital, one of the nation's largest and most profitable private equity funds. He has said he created 100,000 jobs while at Bain.
Was Mitt Romney a job-creating turnaround artist? Or was he, as some on the campaign trail have said, a "vulture capitalist"? That question has become a top issue in the Republican presidential primaries.
In the 1980s, Romney ran a private equity firm called Bain Capital. It's an industry where it's hard to avoid getting your hands dirty.
President Obama acknowledged Friday that the economic recovery has a long way to go. Still, he was able to share some good news. The Labor Department reported that U.S. employers added 200,000 jobs in December, and the unemployment rate fell to 8.5 percent.
"Obviously, we have a lot more work to do," he said, "but it is important for the American people to recognize that we've now added 3.2 million new private-sector jobs over the last 22 months."
Those better-than-expected numbers could help Obama as he tries to hang onto his own job.
Italy's new prime minister, technocrat Mario Monti, wants to stimulate growth by boosting productivity and competitiveness. A new law that went into effect Jan. 1 allows shops, cafes and restaurants to stay open 24/7 all year long, holidays included. This deregulation puts Italy ahead of many European countries, but many Italians are resisting.
Friday — the Day of the Epiphany — was the first holiday of the year. In Rome, however, hardly anyone took advantage of the liberalized shop hours.