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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsRomney's Profit from Bain's Buyouts: Up to $20,000 Per Laid-off Worker ~ Daily Finance
The excerpt below, is from an older article, though it's worthy of repeating.
Full story:
http://www.dailyfinance.com/2012/06/15/romneys-profit-from-bains-buyouts-up-to-20-000-per-laid-off/
Dade Behring: Bain Capital invested $415 million in a leveraged buyout in 1994, borrowed an additional $421 million, and ultimately walked away with $1.78 billion. Dade filed for bankruptcy in 2002, and 2,000 workers lost their jobs.
DDI Corporation: Bain Capital reportedly invested $46.3 million in 1997, reaping $85.5 million in profits and an additional $10 million in management fees. When the company later went bankrupt, 2,100 workers were laid off.
GS International: In a somewhat less profitable transaction, Bain Capital invested $60 million in 1993 and received $65 million in dividends. This company, too, went bankrupt in 2002, and 750 workers lost their jobs.
Stage Stores: Bain invested $5 million to purchase the company and took it public in the mid-'90s, reaping $100 million from stock offerings. Stage filed for bankruptcy in 2000, and 5,795 workers reportedly were laid off.
And so on...
One wonders how many *47%-ers Rmoney created for personal profit?
*Unemployment
*Food Stamps
*Subsidized housing
*Subsidized Medical care
Additionally,
Romney and his elitist buddies, generate a 'dependent class' and bitch because we have one. The very people who convince some in the middle class, that the US has a problem with people not taking 'personal responsibility' are destroying the middle class, and putting people in a position to need help from the government.
Isn't it ironic that the upper class, convinces the middle class that the dependent class (which they help create for profit) is the problem?

justiceischeap
(14,040 posts)mzmolly
(51,860 posts)And/or a campaign ad? I think that some voters would be very turned off by Rmoney, if they considered this angle.
snagglepuss
(12,704 posts)Evergreen Emerald
(13,095 posts)They are buying boats and cars and houses using someone's pension fund. Some is suffering ...Someone who worked hard their whole life...is suffering because he took their pensions.
Angry Dragon
(36,693 posts)Willard has ALWAYS felt privileged and he will never change
His parents did a very poor job of giving him guidance
I think he was babied because he was the baby of the family
mzmolly
(51,860 posts)Tigress DEM
(7,887 posts)Angry Dragon
(36,693 posts)City Lights
(25,510 posts)His plan has five points, so he must know what he's doing!
He is a vulture.
renate
(13,776 posts)This is the kind of thing that put Romney's rapaciousness, and the damage he does, in terms that anybody can understand. A family's life destroyed so that Romney, personally, can put another $20,000 in the bank... it both reduces a human life to money and shows how relatively little Romney even gets for it (compared both to what that job meant to the family and to his worth as a multimillionaire).
ProfessionalLeftist
(4,982 posts)...it's their modus operandi, as it is for all abusive personalities or entities -- blame the victims for what the abusive person or entity has done to them. This is a ruse they've been peddling for years ie: "people are poor because they're lazy and don't take responsibility".
mzmolly
(51,860 posts)
Tigress DEM
(7,887 posts)MZMolly,
That one sentence is REALLY powerful. Thanks.
Appreciate all the detail, but that line sums it up so concisely, warning you in advance, I'm gonna steal it and use it a lot.
You really DO rock!
Cheers!
Tig
mzmolly
(51,860 posts)You rock too!
I'm glad I made some sense.
Uncle Joe
(60,571 posts)Thanks for the thread, mzmolly.
mzmolly
(51,860 posts)Uncle Joe.
got that right mzmolly.

femrap
(13,418 posts)has a new book out....here's an except about Bain:
http://www.thedailybeast.com/newsweek/2012/10/14/david-stockman-mitt-romney-and-the-bain-drain.html
Mi$$ just rolled up the companies, loaded them w/ debt and took huge mgt. fees....did an IPO and POOF....next thing the company was bankrupt and everyone was out of a job.
Ain't Wall Street just grand?! Puke
mzmolly
(51,860 posts)Thanks for the link.
renate
(13,776 posts)after the unemployment of the Great Recession, that someone who CAUSED unemployment as a way, maybe even his MAIN way, of becoming fabulously wealthy could even be considered an acceptable President of the United States is just ... baffling. And maddening.
mzmolly
(51,860 posts)American jobs, tonight.