If you recall your history, the human to the right (a.k.a. G.W. Bush) presented himself to his nation as an epitome of decisive manhood; a mission accomplished kind of guy.
No "flip flopper" was he. No siree.
When he set himself on a course, he stuck to it whether it was a flop or a heck-of-a-job success.
Therefore, when it came to pass that one of his ventures was labeled a "flop", he did what any entrepreneurial reframer of the language would do. He "flipped" the flop. He relabeled it as a success-in-progress. It just needed a few of its benchmarks filled in a little better. Otherwise it was yet another mission accomplished. Heck of a job there Mr. Flop Flipper.