The New York Times says the Romney campaign is either really crappy at managing money, or they're so cheap that they don't want to spend money on essential advertising:
Despite what appears to be a plump bank account and an in-house production studio that cranks out multiple commercials a day, Mr. Romney’s campaign has been tightfisted with its advertising budget, leaving him at a disadvantage in several crucial states as President Obama blankets them with ads.
One major reason appears to be that Mr. Romney’s campaign finances have been significantly less robust than recent headlines would suggest. Much of the more than $300 million the campaign reported raising this summer is earmarked for the Republican National Committee, state Republican organizations and Congressional races, limiting the money Mr. Romney’s own campaign has to spend.
I am telling you: Win or lose, there is going to be a great book coming out of this campaign when the insiders start talking.