Romney's VP Should Be FedEx's Fred Smith

NEW YORK ( TheStreet) -- Let's skip the suspense right away: FedEx ( FDX) founder and CEO Fred Smith is the most likely person to become America's next vice president.

With that out of the way, let me elaborate.

Romney's Strengths

Aside from the basic ideological differences, Mitt Romney brings two things to the party to differentiate against Obama:

1. Romney is experienced in general. Romney's resume may not match Ross Perot or George H.W. Bush in terms of some attempt at an objective measure of overall breath and degree of accomplishment, but he's close. Romney's resume spans finance, project management and governance of one of our original 13 states, across several decades.

Mitt Romney

Let's face it: That puts Romney in the top 0.00001% of people most qualified to be president, all other things equal.

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In comparison, President Obama has, at best, a mediocre resume. Before stumbling into the presidency, he had stumbled into the Senate, preceded by some political hack appointments in notoriously corrupt Chicago. Before that, he was a guest lecturer in law and a general ACORN-style rabble-rouser.

As witnessed by the Titanic-like performance of Obamacare in the lower courts, and most recently in front of The Supreme Court, there is no trace of Obama learning anything about law while in law school or as a leftist lawyer hack. Obama somehow made it to become Editor of The Harvard Law Review, which may be his only significant non-political accomplishment, but there are no papers or articles he wrote in order to deserve this appointment. Can someone please make public any of the stuff Obama wrote in the 1980s and early 1990s?

2. Romney has significant experience in the for-profit private sector, particularly in finance. The U.S. has not been confronted with a presidential candidate so experienced and accomplished in at least two generations, perhaps more. With the U.S. on the brink of a massive financial collapse, turning us into Greece or worse, Romney has the ideal resume to rise to this challenge.

Obama? There is no evidence that Obama took, passed or excelled in Economics 101 and 201. Obama never ran so much as a lemonade stand.

Obama never signed the front of a paycheck. Heck, he never held a legitimate for-profit job. You have to look hard and long to find someone less suitable in our society to hold public office -- let alone the U.S. presidency -- than Barack Obama. Sad, but objectively true.

Narrowing the Field

So what does this tell us about Romney's VP selection? Two things:

1. Romney can't pick someone very significantly younger than himself. The reason many people will vote for Romney is that he is the mature, experienced adult in the room.

For this reason, just for starters, Florida Senator Marco Rubio and Wisconsin Congressman Paul Ryan will most likely not become VP. In both cases, they are barely above 40 years old. They would be OK if the sitting president weren't Obama, and the challenger weren't Romney. But this time, they don't fit Romney's basic requirements.

2. Romney should not pick a lifetime politician, Washington DC-centric or not, as VP. This means no state governor and no congressperson, unless that person also has solid private industry experience. Paul Ryan and Marco Rubio largely or completely fail this criterion as well.

Romney's charm as a candidate is that he has never held a job in Washington, DC and that only a small part of his overall experience is as a sitting politician. The bulk of his resume is populated by his masterful performance at Bain, where he made tons of money financing companies such as Staples, Sports Authority and Domino's Pizza.

The only logical conclusion here, in my opinion, is that Romney needs to double down on what sets him apart. Romney needs to have a senior and extremely successful private sector CEO as VP.

The Road Ahead

The major challenge for the next president will be twofold:

1. Cut government spending. This involves firing people. How many out of the government's millions of bureaucrats have Obama fired? Exactly. How many people had Obama fired before becoming president? Exactly.

Back in 1789, President George Washington ran the entire federal government on approximately the same number of 13 bureaucrats that constituted the employee rolls at Instagram when it was sold to Facebook for $1 billion two weeks ago. We are probably not going back to having 13 people in the Federal civilian workforce again anytime soon, but we probably need to cut at least one million paper-shufflers pronto. Over a few years, we can and should cut 99% of Federal bureaucrats, but in the near term we have to cut at least half of them just to prevent a Greece-style bankruptcy.

If you are Romney, who do you need as the hatchet-man to hand out pink slips to all of these millions of paper-shufflers? Well, it's not going to be a politician.

Even Ron Paul says that he will only cut $1 trillion in spending in his first year as president. That would only bring us back to federal spending as it was in 2007. If you want to go back to Bill Clinton 1997, you have to cut $2 trillion per year. If you want to go back JFK's 1962 budget, you have to cut over $3.5 trillion per year.

No, Romney's VP must be a strong private-sector CEO who will have no compunction about firing large numbers of nonproductive and counter-productive paper-pushers.

2. Cut red tape. Nobody in America today has any clue what the laws are. You need permits to start a business or build something. God help you if you want to hire someone. We are mired in red tape.

Most politicians are completely oblivious to this, because they essentially don't live under the laws they serve, because they don't run companies. Congress and state politicians also don't need to make a profit.

So the answer to the second requirement for a Romney VP is the same as the first: It must be a private-sector CEO, who will understand the importance of abolishing red tape.

The Short List

Who will it be? Had Jack Welch been 10 years younger, he would seem like a shoe-in. There are probably hundreds of outstanding suggestions. I would like to hear the reader's suggestions as to which businessman would be a suitable VP for Romney.

In the meantime, the choice of FedEx Founder and CEO Fred Smith would be ideal. If you have not read his resume, you should. It will also make you sweat, and be ready for a nap after.

Fred Smith attended Yale together with Sen. John Kerry (D-Mass.) and former President George W. Bush in the 1960s. There, he wrote a paper on how to organize an overnight delivery service using the logistics capabilities of this upcoming thing called a "computer." After Yale, Smith performed two tours in Vietnam, where he was awarded two Purple Hearts.

Returning from Vietnam, Smith founded FedEx, which has now grown into the leading company in its field, with a market cap approaching $30 billion and annual sales of a similar $30 billion number. His net worth is at least around $2 billion, easily trumping Mitt Romney's rumored $200 million net worth. One wonders who really should be on top of the ticket.

With Fred Smith as VP, Romney's campaign slogan writes itself: We Deliver. Fred Smith is not known as a partisan hack. Smith is transforming his company's fleet using electric and natural gas trucks, and he is basically a solid free-market conservative.

We all know how Smith's solidly profitable FedEx compares to Obama's near-bankrupt U.S. Post Office. Fred Smith could make the comparison between a far leaner federal government and Obama's socialist nightmare centered around Obamacare and food stamps for all. Fred Smith could help Mitt Romney fire millions of counter-productive government bureaucrats and abolishing millions of pages worth of red tape.

For these reasons, until someone coughs up a better idea, my best guess as to Mitt Romney will pick as VP is FedEx Founder and CEO Fred Smith: " We deliver prosperity and freedom."

At the time of submitting this article, the author had no position in the companies mentioned.

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