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A little reality about Romney and Bain....

randel said:
bs back at ya, if you would have done any research, you wouldnt have taken the romney numbers at face value.
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I haven't taken anything at face value. Now can we get back to your partisan hack job?
 
randel said:
start another thread if you want to discuss GM...we are discussing bain, and your silly belief that they give a shinola about the people in the companies they buy....stay on target travy, stay on target....
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got nothing as always I see.. I can tell you are not an owner of a Co or have started a Co..
 
AdamT said:
You dont seem to know much about this business. Just because a company seeks out venture capital doesn't mean that it's on the verge of collapse, or even doing badly.
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Can you name any companies that were not on the verge of collapse or doing badly that Bain took over?
 
AdamT said:
You dont seem to know much about this business. Just because a company seeks out private equity doesn't mean that it's on the verge of collapse, or even doing badly.
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nah.. its sign of wild success..

You are wrong..
 
Travis007 said:
got nothing as always I see.. I can tell you are not an owner of a Co or have started a Co..
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you are correct, you have nothing. move along....
 
Arbo said:
I haven't taken anything at face value. Now can we get back to your partisan hack job?
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partisan hack job? lol...funny coming from you.
 
randel said:
partisan hack job? lol...funny coming from you.
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So you have nothing to back your claims, thus must not address the topic of Bain? Got it.
 
Arbo said:
Can you name any companies that were not on the verge of collapse or doing badly that Bain took over?
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was staples on the brink?
how about sports authority?
brighter horizons?


here's one:
... let’s look at Ampad, the paper company that was the subject of a recent Obama ad. The company showed tremendous growth during the period of Bain’s control — in other words, before it offered shares to the public and Bain began to cash out. Documents filed with the Securities and Exchange Commission show that revenues, mainly through acquisitions, grew from $104 million in 1993 to $617 million in 1995. This, as we have noted before, was the company strategy — to build revenue through acquisitions.
Success story? After the initial public offering — when Bain reaped about $50 million and its control fell below 50 percent — revenues started to fall , to $572 million in 1999. Interest payments on the debt, run up to build that revenue, exceeded gross profits. In the space of a few years, the stock price went from $26 a share to 15 cents , at which point the company filed for bankruptcy protection.
Yet presumably, this company is part of Bain’s 80 percent “success” rate.
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The latest Romney claim about Bain Capital - The Washington Post
 
Arbo said:
Review & Outlook: The Bain Capital Bonfire - WSJ.com



No, not a company that set out to 'destroy' other companies and put people out of work.
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#1 What kind of anti-science pro-pollution idiot puts clean energy in quotes? I hate people like that, who are so rich they don't care about the carbom emissions crapping all over our world. they are so outta touch with what really matters and they don't care about the future because they live for the almighty dollar and what they can make today.

#2 you are being totally naive if you believe that Bain 'helps' startups.
 
justabubba said:
was staples on the brink?
how about sports authority?
brighter horizons?
here's one:
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I dunno, you tell us. I said to list companies that were not in any financial difficulty that were bought out by Bain. As to the one the quote is about, how long after they were sold did they go bankrupt?

hazlnut said:
#1 What kind of anti-science pro-pollution idiot puts clean energy in quotes? I hate people like that, who are so rich they don't care about the carbom emissions crapping all over our world.
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I'd guess 1) Al Gore, and 2) anyone that can't spell carbon. :doh

#2 you are being totally naive if you believe that Bain 'helps' startups.
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Yes, we have heard again and again that they are evil destroyers of all companies. We have yet to see any evidence that actually shows that to be the case. Oh some have tried by saying a ~80% success rate is HORRIBLE... but not much else.
 
Arbo said:
Review & Outlook: The Bain Capital Bonfire - WSJ.com



No, not a company that set out to 'destroy' other companies and put people out of work.
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So, here’s what Romney’s company is really up to and how they work to destroy jobs.


A look at Mitt Romney's job-creation record at Bain Capital - Los Angeles Times
Bain expanded many of the companies it acquired. But like other leveraged-buyout firms, Romney and his team also maximized returns by firing workers, seeking government subsidies, and flipping companies quickly for large profits. Sometimes Bain investors gained even when companies slid into bankruptcy.

Bain managers said their mission was clear. "I never thought of what I do for a living as job creation," said Marc B. Walpow, a former managing partner at Bain who worked closely with Romney for nine years before forming his own firm. "The primary goal of private equity is to create wealth for your investors."

Four of the 10 companies Bain acquired declared bankruptcy within a few years, shedding thousands of jobs. The prospectus shows that Bain investors profited in eight of the 10 deals, including three of the four that ended in bankruptcy.

Leveraged buyouts allow investors to purchase businesses with the acquisition funded sometimes by significant amounts of debt. To critics, these leveraged deals can make acquired companies more vulnerable to economic downturns, leading to a greater likelihood of bankruptcy and job cuts.

That was true in the case of GS Industries, the 10th-biggest Bain investment in the Romney years. Bain formed GSI in the early 1990s by spending $24 million to acquire and merge steel companies with plants in Missouri, South Carolina and other states.

Company managers cut jobs and benefits almost immediately. Meanwhile, Bain and other investors received management fees from GSI and a $65-million dividend in the first years after the acquisition, according to interviews with company employees.

More than 700 workers were fired, losing not only their jobs but health insurance, severance and a chunk of their pension benefits. GSI retirees also lost their health insurance and other benefits. Bain partners received about $50 million on their initial investment, a 100% gain.
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TheNextEra said:
If it will turn a profit, they will indeed intentionally destroy a company. Vice-versa is also true.

Bain is not an evil company, but they sure aren't in it to save companies, they are in it for profit. Let's be honest.
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and to adults that is not a bad thing but a normal thing To some of the children its "evil"
 
TurtleDude said:
and to adults that is not a bad thing but a normal thing To some of the children its "evil"
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It is what it is. To liars and/or the ignorant, it's "job creation".
 
AdamT said:
It is what it is. To liars and/or the ignorant, it's "job creation".
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to envious ne'er do wells who believe that because they are "intelligent" or "educated" they are entitled to the wealth of others, corporate profit is "anathema" unless it is something they are allowed to plunder
 
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