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Last post 11 years ago by RICKAMAVEN. 47 replies replies.
How Bain Capital (And Mitt Romney) Profited
RICKAMAVEN Offline
#1 Posted:
Joined: 10-01-2000
Posts: 33,248
One of Mitt Romney’s most challenging
tasks as the Republican nominee for
president is to explain his business career,
which has been the subject of attacks since
last winter’s primaries. The genesis of his
extraordinary wealth is something that he’s
rarely spoken about on the campaign trail in
detail. And when he finally did try to address
the issue at the Republican National
Convention, he never actually mentioned the
name of the private equity firm he ran for
decades – Bain Capital.

A new report by Politicker’s Hunter Walker
helps explain why Romney shies from
defending his firm’s practices. In addition to
buying companies – often strong companies
that could be loaded with debt, Bain also
invested in firms that could wring profit from
crisis. Consider Equity Specialty Holdings, a
reinsurance startup specifically created to
purchase debt from insurance companies
badly hit by the 9/11 attacks.

Walker reports that “Mr. Romney was
invested in Endurance Specialty Holdings
both through Golden Gate Capital, a private
equity firm founded by a former Bain Capital
executive in 2000 and through his direct
interest in another investment firm, CCG
Investment Fund, LP.”

The opportunity for Equity Specialty
Holdings was simple. Its management could
invest in insurers that badly needed to cover
losses due to 9/11, and reap enormous
benefit from the increased fees that the
surviving insurance companies could then
charge. The results were astounding: “Over
the next nine months, the company
generated a net income of $63.5 million. By
the end of 2003, the company was reporting
net income of $263.4 million.”

The Romney family disavows any knowledge
or responsibility for this investment, saying
that their money is in a blind trust. Famously,
Romney dismissed Ted Kennedy’s identical
response in 1994, ridiculing blind trusts as
an “age-old ruse.”

Bain’s reinsurance investment occurred in
that murky period when Romney had left
Bain in order to work on the 2002 Winter
Olympics, yet remained the CEO of the firm.
During that period, Bain made many of its
most controversial layoffs and investments –
including investing in Stericycle, a company
that went on to dispose of aborted fetuses. A
Bain executive has said Romney retained his
position in Bain as leverage while he
negotiated his retirement package. The
implication is that he retained the power to
affect the company’s business.

The world of private equity baffles most
Americans with its tangled web of ownership
and the ability to profit off bankruptcies. But
it’s understandable that Romney would seek
to distance himself from controversial
investments. Profiting from 9/11 doesn’t fit
well with his campaign slogan, “Believe in
America.”
HockeyDad Offline
#2 Posted:
Joined: 09-20-2000
Posts: 46,248
Private equity firms most often purchase weak companies. The whole idea is to turn around the failing companies and then sell them for a profit once they are fixed. If you are an employee at a company taken over by private equity, it is often painful and then you get to make commercials for the Obama campaign.

Without private equity firms, the alternative for most of these weak companies is bankruptcy liquidation.

When making a profit is considered a bad thing, the USA is done.
Mathen Offline
#3 Posted:
Joined: 05-27-2011
Posts: 2,338
Since when did profit become a dirty word?


Oh yeah, it's not. At least not to me
DrMaddVibe Offline
#4 Posted:
Joined: 10-21-2000
Posts: 55,691
Who owns Obama's Chicago mansion?
snowwolf777 Offline
#5 Posted:
Joined: 06-03-2000
Posts: 4,082
Yes, I'm sure the folks at all those failed businesses that Bain tried to make profitable would have much preferred the GM/Chrysler plan:

Run a bloated, out-of-touch, failed union business model for decades, get the POTUS to declare you're too big to fail, have a couple tractor/trailers full of taxpayer cash delivered to your doorstep, and break it off in all your investors backsides.

Then you strut around and tell everyone "Look at us! We're toughed it out through hard work and are still in business. Aren't we so smart and special!"

ZRX1200 Offline
#6 Posted:
Joined: 07-08-2007
Posts: 60,707
MAGIC UNDERWEAR BEOTCH!
horse Shame on you whip

dstieger Offline
#7 Posted:
Joined: 06-22-2007
Posts: 10,889
Mathen wrote:
Since when did profit become a dirty word?


Oh yeah, it's not. At least not to me



'Wealth' is another one that's used more and more as if it is disparaging. wtf
teedubbya Offline
#8 Posted:
Joined: 08-14-2003
Posts: 95,637
And if you want to start a business up borrow from your parents
bloody spaniard Offline
#9 Posted:
Joined: 03-14-2003
Posts: 43,802
Bain blind trust rape OUTRAGE!!


Now, let's torch another KFC in Tripoli!! ram27bat
HockeyDad Offline
#10 Posted:
Joined: 09-20-2000
Posts: 46,248
teedubbya wrote:
And if you want to start a business up borrow from your parents




Do it the government way instead....borrow in the name of your children!
HockeyDad Offline
#11 Posted:
Joined: 09-20-2000
Posts: 46,248
bloody spaniard wrote:
Bain blind trust rape OUTRAGE!!


Now, let's torch another KFC in Tripoli!! ram27bat



They torch a Chick-Fil-A and we may finally have the spark we need to draw out the Christians and get the Holy War started!
bloody spaniard Offline
#12 Posted:
Joined: 03-14-2003
Posts: 43,802
teedubbya wrote:
And if you want to start a business up borrow from your parents



Pffffft. I'm getting my seed money for a second business from a Nigerian pen pal!! (in my best Thurston Howell III).Glare
teedubbya Offline
#13 Posted:
Joined: 08-14-2003
Posts: 95,637
bloody spaniard wrote:
Pffffft. I'm getting my seed money for a second business from a Nigerian pen pal!! (in my best Thurston Howell III).Glare


I was sort of hopeing all the money I sent to charlie when he was in England would be considered seed money but it's beginning to look like a bad investment. Maybe Charlie IS Romney?
bloody spaniard Offline
#14 Posted:
Joined: 03-14-2003
Posts: 43,802
HockeyDad wrote:
They torch a Chick-Fil-A and we may finally have the spark we need to draw out the Christians and get the Holy War started!


Think
Chick-Fil-A just doesn't do it for me. I'm saving my rage for a film ridiculing Popeye's.
bloody spaniard Offline
#15 Posted:
Joined: 03-14-2003
Posts: 43,802
teedubbya wrote:
I was sort of hopeing all the money I sent to charlie when he was in England would be considered seed money but it's beginning to look like a bad investment. Maybe Charlie IS Romney?


Charlie MUST be rich. He was complaining the other day that his hands always smell like cabbage. Imagine that? He can't wash off the greenback stank.
DrafterX Offline
#16 Posted:
Joined: 10-18-2005
Posts: 98,629
I gonna grow hemp.... Mellow
bloody spaniard Offline
#17 Posted:
Joined: 03-14-2003
Posts: 43,802
DrafterX wrote:
I gonna clone shemp.... Mellow


Think
DrafterX Offline
#18 Posted:
Joined: 10-18-2005
Posts: 98,629
Think
teedubbya Offline
#19 Posted:
Joined: 08-14-2003
Posts: 95,637
DrafterX wrote:
my deek looks like a shrimp.... Mellow

DrMaddVibe Offline
#20 Posted:
Joined: 10-21-2000
Posts: 55,691
teedubbya wrote:
And if you want to start a business up borrow from your parents



If you were a Kenyan kid with dirt floors and political ambitions, somebody along the line gave you some help. There was a great teacher somewhere in your life. Somebody helped to create this Manchurian Candidate that we have that allowed him to thrive. Somebody invested in roads and bridges. If you’ve got a Empty Suit and a court jester sidekick -- you didn’t build that. Somebody else made that happen. The Internet didn’t get invented on its own. Government research created the Internet so that all the companies could make money off the Internet.
DrafterX Offline
#21 Posted:
Joined: 10-18-2005
Posts: 98,629
Shame on you Shame on you stop thinking about my junk....
teedubbya Offline
#22 Posted:
Joined: 08-14-2003
Posts: 95,637
DrMaddVibe wrote:
If you were a Kenyan kid with dirt floors and political ambitions, somebody along the line gave you some help. There was a great teacher somewhere in your life. Somebody helped to create this Manchurian Candidate that we have that allowed him to thrive. Somebody invested in roads and bridges. If you’ve got a Empty Suit and a court jester sidekick -- you didn’t build that. Somebody else made that happen. The Internet didn’t get invented on its own. Government research created the Internet so that all the companies could make money off the Internet.



Exactly.... borrow the wheelbarrow and the tubers from your ma and pa pa

and like drafter said quit thinking about his junkFrying pan
bloody spaniard Offline
#23 Posted:
Joined: 03-14-2003
Posts: 43,802
DrMaddVibe wrote:
If you were a Kenyan kid with dirt floors and political ambitions, somebody along the line gave you some help. There was a great teacher somewhere in your life. Somebody helped to create this Manchurian Candidate that we have that allowed him to thrive. Somebody invested in roads and bridges. If you’ve got a Empty Suit and a court jester sidekick -- you didn’t build that. Somebody else made that happen. The Internet didn’t get invented on its own. Government research created the Internet so that all the companies could make money off the Internet.



Think

Brilliantly put. The caramel Quixote & grinning Sancho just didn't "happen".
Makes you wonder who's the puppeteer.
tailgater Offline
#24 Posted:
Joined: 06-01-2000
Posts: 26,185
RICKAMAVEN wrote:
One of Mitt Romney’s most challenging
tasks as the Republican nominee for
president is to explain his business career,
which has been the subject of attacks since
last winter’s primaries....”


This says it all.
His business career is under attack because he is an unabashed 1%'er.
He has accumulated wealth legally. Shame on him.
His family before him is well off. How despicable.

I question the motive of anyone who views financial success as a character flaw.
DrMaddVibe Offline
#25 Posted:
Joined: 10-21-2000
Posts: 55,691
bloody spaniard wrote:
Think

Brilliantly put. The caramel Quixote & grinning Sancho just didn't "happen".
Makes you wonder who's the puppeteer.




OMG...the Carmel Quixote and Grinning Sancho...what an image!Frying pan

That's awesome!

I tip my hat to you!

Well done!Applause
teedubbya Offline
#26 Posted:
Joined: 08-14-2003
Posts: 95,637
yea the other Rs in the primaries should be ashamed.
DrMaddVibe Offline
#27 Posted:
Joined: 10-21-2000
Posts: 55,691
tailgater wrote:
This says it all.
His business career is under attack because he is an unabashed 1%'er.
He has accumulated wealth legally. Shame on him.
His family before him is well off. How despicable.

I question the motive of anyone who views financial success as a character flaw.



It's called NETWORK NEWS...the gullible fall for it...don't bother the tales with actual reporting or facts...just bring on the **** as Rick calls them...he likes watching the wobble of Ratchet Madcow.
teedubbya Offline
#28 Posted:
Joined: 08-14-2003
Posts: 95,637
DrMaddVibe wrote:
It's called NETWORK NEWS...the gullible fall for it...don't bother the tales with actual reporting or facts...just bring on the **** as Rick calls them...he likes watching the wobble of Ratchet Madcow.


That maddow dude is weird
Whistlebritches Online
#29 Posted:
Joined: 04-23-2006
Posts: 22,132
Rick

Your cut-n-paste schit is so obvious..........I mean with all that punctuation and grammar.


Ron
RICKAMAVEN Offline
#30 Posted:
Joined: 10-01-2000
Posts: 33,248
Whistlebritches

CAN'T FOOL YOU.

NEXT TIME I DO A COPY AND PASTE, I'LL CHANGE SOME OF THE SPELLING
RICKAMAVEN Offline
#31 Posted:
Joined: 10-01-2000
Posts: 33,248
snowwolf777

WITHOUT OUR AUTO INDUSTRY AND SHIP BUILDING INDUSTRY AND
ALL OUR MANUFACTORING INDUSTRIES, WE MIIGHT HAVE LOST THE SECOND
WORLD WAR
RICKAMAVEN Offline
#32 Posted:
Joined: 10-01-2000
Posts: 33,248
DrMaddVibe

"FROM" THE INTERNET
RICKAMAVEN Offline
#33 Posted:
Joined: 10-01-2000
Posts: 33,248
teedubbya

HOW IS SHE WIERD?

SHE AND HER STAFF ARE GREAT RESEARCHERS. SHE IS A RHODES SCHOLAR.
ZRX1200 Offline
#34 Posted:
Joined: 07-08-2007
Posts: 60,707
YES A GENIUS!



HE IS




A

W

E

S

O

M

E!
DrMaddVibe Offline
#35 Posted:
Joined: 10-21-2000
Posts: 55,691
RICKAMAVEN wrote:
snowwolf777

WITHOUT OUR AUTO INDUSTRY AND SHIP BUILDING INDUSTRY AND
ALL OUR MANUFACTORING INDUSTRIES, WE MIIGHT HAVE LOST THE SECOND
WORLD WAR



You mean all those Rosie Riveters (****'s are what you call them!) slaving away in the factories while GI Joe is in the trenches getting their medical records removed or hidden from schlep inept idiots?

Yeah...then there was that pesky little Manhattan Project...and well, we had the Nazis codes broken with British intelligence and made the Desert Fox look silly...yeah...believe the daydream all you want. Facts don't lie.
DrMaddVibe Offline
#36 Posted:
Joined: 10-21-2000
Posts: 55,691
RICKAMAVEN wrote:
DrMaddVibe

"FROM" THE INTERNET




VIRUS







ALERT!!!







RICKAMAVEN Offline
#37 Posted:
Joined: 10-01-2000
Posts: 33,248
tailgater

YOU HAVE IT BACKWARDS (His business career is under attack because he is
an unabashed1%'er. He has accumulated wealth legally. Shame on him)

HE IS 1% er BECAUSE OF BAIN CAPITAL'S DIRTY BUSINESS TACTICS


FINANCIAL SUCCESS IS NOT A CHARACTER FLAW UNLESS YOU ARE
WILLIE SUTTON. ROMNEY WITH BAIN DID THER SAME THING WITHOUT
A GUN AND WITHOUT PAYING THEIR CORRECT TAXES. HOPEFILLY ONE OF
THE MODERATORS WILL ASK HIM IF HE EVER RECEIVED A FOREGINESS PASS
BY THE IRS DURING ON OF THEIR FOEGIVNESS TIMES.

YOU ARE SIMPLY NOT AWARE OF WHAT THEY DID, SO YOU FIND NO FAULT.
YOU NEED TO DIG A LITTLE DEEEPER BEFORE YOU GIVE ROMNEY A PASS.
HE IS TRYING TO BE THE PRESIDENT OF THE UNITED STATES.
nitro6526 Offline
#38 Posted:
Joined: 09-13-2010
Posts: 1,022
http://propertyfreedompeace.blogspot.com/2012/01/bain-capital-and-business-ethics.html?m=1

Simple explanation of business practices in the U.S. and how the government is hypocrites. If they weren't struggling then why go to Bain? For every so called "strong" companies, what about the weaker one's on it's last leg?

Tiu sir need to dig a little deeper. Thanks
dubleuhb Offline
#39 Posted:
Joined: 03-20-2011
Posts: 11,350
RICKAMAVEN wrote:
tailgater

YOU HAVE IT BACKWARDS (His business career is under attack because he is
an unabashed1%'er. He has accumulated wealth legally. Shame on him)

HE IS 1% er BECAUSE OF BAIN CAPITAL'S DIRTY BUSINESS TACTICS


FINANCIAL SUCCESS IS NOT A CHARACTER FLAW UNLESS YOU ARE
WILLIE SUTTON. ROMNEY WITH BAIN DID THER SAME THING WITHOUT
A GUN AND WITHOUT PAYING THEIR CORRECT TAXES. HOPEFILLY ONE OF
THE MODERATORS WILL ASK HIM IF HE EVER RECEIVED A FOREGINESS PASS
BY THE IRS DURING ON OF THEIR FOEGIVNESS TIMES.

YOU ARE SIMPLY NOT AWARE OF WHAT THEY DID, SO YOU FIND NO FAULT.
YOU NEED TO DIG A LITTLE DEEEPER BEFORE YOU GIVE ROMNEY A PASS.
HE IS TRYING TO BE THE PRESIDENT OF THE UNITED STATES.

This has to be one of the most hypocritical sentences ever!

You should have just scratched the surface to find out what the anointed one was about before you voted for him. No executive experience, 6 hours as a senator. A lifetime as a community organizer/agitator does not qualify one as presidential material. His accomplishments so far as POTUS has been to cause more division than ever in this country, spend us into oblivion and his foreign policy is atrocious!

If Romney has any improprieties associated with his taxes believe me we would not stop hearing about it. There have been several unsubstantiated accusations thrown out there, felon, murderer, tax cheat to name a few but none have stuck. Of course that is SOP for the left, but it eventually wears thin on people.

Your vision is impaired in more ways than one sad to say.




DrMaddVibe Offline
#40 Posted:
Joined: 10-21-2000
Posts: 55,691
dubleuhb wrote:
This has to be one of the most hypocritical sentences ever!

You should have just scratched the surface to find out what the anointed one was about before you voted for him. No executive experience, 6 hours as a senator. A lifetime as a community organizer/agitator does not qualify one as presidential material. His accomplishments so far as POTUS has been to cause more division than ever in this country, spend us into oblivion and his foreign policy is atrocious!

If Romney has any improprieties associated with his taxes believe me we would not stop hearing about it. There have been several unsubstantiated accusations thrown out there, felon, murderer, tax cheat to name a few but none have stuck. Of course that is SOP for the left, but it eventually wears thin on people.

Your vision is impaired in more ways than one sad to say.







AMEN!

dpnewell Offline
#41 Posted:
Joined: 03-16-2009
Posts: 7,491
RICK, YOU’VE CONVINCED ME. OBAMA AND BINDEN ARE NOW MY MAN. HARD WORK, INNOVATION AND SUCCESS MUST BE PUNISHED. MEDIOCRITY, SLOTHFULNESS, AND DEPENDANCY MUST BE REWARDED. IF SOMEONE HAS MORE THEN YOU, IT MUST BE ILL GOTTEN GAIN, SO GOVERNMENT MUST TAKE FROM THEM, AND GIVE TO YOU. IF YOU HAVE MORE THEN SOMEONE ELSE, GOVERNMENT MUST TAKE FROM YOU, AND GIVE TO THEM. IT’S THE ONLY FAIR WAY. FOUR MORE YEARS! FOUR MORE YEARS!
DrMaddVibe Offline
#42 Posted:
Joined: 10-21-2000
Posts: 55,691
dpnewell wrote:
RICK, YOU’VE CONVINCED ME. OBAMA AND BINDEN ARE NOW MY MAN. HARD WORK, INNOVATION AND SUCCESS MUST BE PUNISHED. MEDIOCRITY, SLOTHFULNESS, AND DEPENDANCY MUST BE REWARDED. IF SOMEONE HAS MORE THEN YOU, IT MUST BE ILL GOTTEN GAIN, SO GOVERNMENT MUST TAKE FROM THEM, AND GIVE TO YOU. IF YOU HAVE MORE THEN SOMEONE ELSE, GOVERNMENT MUST TAKE FROM YOU, AND GIVE TO THEM. IT’S THE ONLY FAIR WAY. FOUR MORE YEARS! FOUR MORE YEARS!



You forgot the vagina's.
RICKAMAVEN Offline
#43 Posted:
Joined: 10-01-2000
Posts: 33,248
dubleuhb

THE MOST HYPOCRITACAL WORDS WERE FROM THE THE MOUTH OF THE SERIAL KILLER
WHO DESTROYED THE COUNTRY'S FINANCIAL FOUNDATION WHILE FIGHTING TWO WARS
THAT WERE NOT PAID FOR WHILE KILLING 4000+ YOUNG AMERICAN'S AND NEVER
ALLOWING THE AMEICAN PEOPLE TO SEE THE DEAD BODIES BEING BROUGHT BACK
FROM A WAR HE CREATED, YOUR FRIEND GEORGE W BUSH

"I AM A COMPASSIONATE CONSERVATIVE' I IS, I IS.
wheelrite Offline
#44 Posted:
Joined: 11-01-2006
Posts: 50,119
RICKAMAVEN wrote:
dubleuhb

THE MOST HYPOCRITACAL WORDS WERE FROM THE THE MOUTH OF THE SERIAL KILLER
WHO DESTROYED THE COUNTRY'S FINANCIAL FOUNDATION WHILE FIGHTING TWO WARS
THAT WERE NOT PAID FOR WHILE KILLING 4000+ YOUNG AMERICAN'S AND NEVER
ALLOWING THE AMEICAN PEOPLE TO SEE THE DEAD BODIES BEING BROUGHT BACK FROM A
WAR HE CREATED, YOUR FRIEND GEORE W BUSH

"I AM A COMPASSIONATE CONSERVATIVE' I IS, I IS.


get over it LBJ and FDR killed more young Americans..
dubleuhb Offline
#45 Posted:
Joined: 03-20-2011
Posts: 11,350
RICKAMAVEN wrote:
dubleuhb

THE MOST HYPOCRITACAL WORDS WERE FROM THE THE MOUTH OF THE SERIAL KILLER
WHO DESTROYED THE COUNTRY'S FINANCIAL FOUNDATION WHILE FIGHTING TWO WARS
THAT WERE NOT PAID FOR WHILE KILLING 4000+ YOUNG AMERICAN'S AND NEVER
ALLOWING THE AMEICAN PEOPLE TO SEE THE DEAD BODIES BEING BROUGHT BACK
FROM A WAR HE CREATED, YOUR FRIEND GEORGE W BUSH

"I AM A COMPASSIONATE CONSERVATIVE' I IS, I IS.

Still stuck on bush....sad because we weren't discussing him that I know of.

Another loathsome tactic, avoid and deflect. LMAO!
DrMaddVibe Offline
#46 Posted:
Joined: 10-21-2000
Posts: 55,691
RICKAMAVEN wrote:
dubleuhb

THE MOST HYPOCRITACAL WORDS WERE FROM THE THE MOUTH OF THE SERIAL KILLER
WHO DESTROYED THE COUNTRY'S FINANCIAL FOUNDATION WHILE FIGHTING TWO WARS
THAT WERE NOT PAID FOR WHILE KILLING 4000+ YOUNG AMERICAN'S AND NEVER
ALLOWING THE AMEICAN PEOPLE TO SEE THE DEAD BODIES BEING BROUGHT BACK
FROM A WAR HE CREATED, YOUR FRIEND GEORGE W BUSH

"I AM A COMPASSIONATE CONSERVATIVE' I IS, I IS.



Another candidate for Koo-Koo Town!

The Bush Derangement Syndrome is STRONG with this one...Let's start our tour with the Thorazine...happiness for some is just a pill away.
RICKAMAVEN Offline
#47 Posted:
Joined: 10-01-2000
Posts: 33,248
I WAN'T TO TAKE OUT MY BRAIN AND WASH ALL THE DIRTY PICTURES YOU PUT THERE"

KIRK DOUGLAS, DETETIVE STORY, 1951 (WHEN YOU WHO ARE ALLOWED TO VOTE WITHOUT
A HIGH SCHOOL DIPLOMA

ALL YOU REPUBLICANS
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