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How much money do they need to make for their investors?
Do they really need $100 million when $80 million would have still provded all kinds of profit and allowed people to keep their pensions and healthcare?
Do you live in the real world? Tell me why Bain Capital, or anyone else for that matter, is obligated to keep businesses open that are losing money?
Do you feel the same way about the green energy companies Obama invested in that went bankrupt? Do you think we should continue to give them money?
I guess it all depends on why the company is losing money.
There are lots of examples of companies that were profitable until Bain assimilated them. They took all of the capital out of the companies and essentially starved them to death leaving the government on the hook for the pension funds.
Is this person running for president or claiming that this experience is a qualification to do so?
Of course not. He does have quite a visible role in Obama's reelection campaign, though. You would think they would try to distance themselves from businessmen of this ilk, who ravage companies and destroy workers' lives.
One of President Barack Obama’s top campaign spokesmen is a private equity manager whose firm has shut down several factories and laid off hundreds of people amid a stalled economy.
During his political career, Mr. Romney has promoted his experience as a businessman while deflecting criticism of layoffs caused by private equity deals by noting that he left Bain in 1999. But records and interviews show that in the years since, he has benefited from at least a few Bain deals that resulted in upheaval for companies, workers and communities.
One lucrative deal for Bain involved KB Toys, a company based in Pittsfield, Mass., which one of the firm’s partnerships bought in 2000. Three years later, when Mr. Romney was the governor of Massachusetts, the company began closing stores and laying off thousands of employees. More recently, Bain helped lead the private equity purchase of Clear Channel Communications, the nation’s largest radio station operator, which resulted in the loss of 2,500 jobs.
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The 2000 purchase of KB Toys, then one of the country’s largest toy retailers, became one of the most contentious.As in most Bain deals, the partnership put up a small fraction of the money — in this case $18 million — and borrowed the rest of the $302 million purchase price. Just 16 months later, the toy company borrowed more to pay Bain and its investors an $85 million dividend.
That gave Mr. Romney and the other partners a quick 370 percent return on their money. But it also left the toy company with a heavy debt burden. Before long, the company began closing stores around the country and laid off 3,400 workers. It filed for bankruptcy protection in 2004.
Two more recent deals have also led to spiraling debt loads and layoffs. Since Bain and another private equity firm led a buyout in 2008 of Clear Channel Communications, the company has struggled under nearly $20 billion in debt and has cut 2,500 jobs.
Sensata Technologies, a European company that makes sensors and controls used by the auto and aerospace industries, prospered after a Bain-led buyout in 2006, but the firm also laid off several hundred American workers. Most of the jobs were moved overseas, and the federal Labor Department spent at least $780,000 to retrain some people who lost their jobs.
And this guy thinks he can get unemployment down to 6% when he has made millions of dollars by only increasing it?
That is why we have so many new people on welfare because they way they do things hurts the business and loses the creation of jobs.
Obamas take over of GM lost almost 50,000 jobs nationwide but no one talks about that.
Record shows that Romney has a net GAIN of jobs, Obama a net LOSS of jobs.
If you need a job or want to keep your job vote for Romney. And actually want to earn your own keep then vote for Romney because he will bring jobs to America.
If you want to live on welfare or off the rest of us working tax paying people then vote for Obama and get your free food, housing, cell phones etc.
* added
Obama bet on Solyndra and cost us taxpayers 535 million.
Obama lost 1100 jobs went they went bankrupt.
On one hand he wants credit for GM but wont take any blame for Solyndra.
He cannot have it both ways.
Now Obama hits a tariff on solar panels. Hey stupid, your about 2 years too late.
Why didnt you do this 2 years ago knowing that Solyndras business model was showing losses before they started?
Obama is a little late to the party again.
Oh but don't you know! it's all gooddddddddddd, heard that before have we not. Obama does think he can have his way, and does we he can to make sure he does. Any way he can. Usually it's memory loss!
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