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Mon Apr 30, 2018, 12:44 AM

 

Workers claim Bain Capital firings, tied to age, medical condition

This discussion thread was locked as off-topic by muriel_volestrangler (a host of the Latest Breaking News forum).

Source: NY Post

Bain Capital bagged a fortune as it fired workers at an Oregon-based software company. Now, federal authorities allegedly are probing whether it also broke the law.

The buyout firm founded by Mitt Romney is being investigated by the US Equal Employment Opportunity Commission over allegations that it illegally fired workers based on their age and medical condition as it sought to maximize profits, sources told The Post.

Last week, Bain announced the sale of Portland, Ore.-based Viewpoint Construction Software to its larger competitor Trimble for $1.2 billion. Bain will reap a $550 million profit on the deal after investing just $300 million in cash to acquire it in 2015 and saddling it with roughly $330 million in debt, sources said.

Meanwhile, however, the EEOC has received roughly 20 separate complaints about illegal firings at Viewpoint, according to Jan Sadlowski, a former human resources manager at the company. The flaggings sparked an investigation by the agency, which most recently interviewed a former Viewpoint employee last week, she said.

Read more: https://nypost.com/2018/04/29/workers-claim-bain-firings-tied-to-age-medical-conditions/

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Response to laserhaas (Original post)

Mon Apr 30, 2018, 12:56 AM

1. But Utah will elect Romney to the Senate

despite this, despite his brazen serial carpet-baggery, despite a long litany of things that *ought* to offend voters...

they will elect him because he's famous (never mind why), he's wealthy (never mind how), and -- most importantly -- he's Mormon.

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Response to RockRaven (Reply #1)

Mon Apr 30, 2018, 01:25 AM

2. Sad to say, true

 

And we've been trying to get him investigated for 18 years

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Response to RockRaven (Reply #1)

Mon Apr 30, 2018, 06:31 AM

9. one thing in common is trump & romeny both have many sons and draft dodgers all.

generations of paying others to war for them.

all they offer is 'thoughts & prayers'.

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Response to laserhaas (Original post)

Mon Apr 30, 2018, 01:37 AM

3. Vulture capitalists specialize in "trimming the fat"

Which pretty much always means the higher paid older employees have to go. The better ones do a better job of legally concealing it. The best ones get laws written to enable them to do it.

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Response to Major Nikon (Reply #3)

Mon Apr 30, 2018, 05:50 AM

6. It's been happening since Reagan gave them carte blanche to run free with it...

It's worth considering how much popular ire at trade deals for job losses and wage stagnation would be more appropriately directed at this.

I remember a case where Pat Buchanan, during a presidential bid, got in front of a closed shoe factory and blamed China for dumping below-cost shoes. However, it wasn't Chinese co petition that closed the factory, it was a leveraged buy-out that saddled it with unsustainable debt.

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Response to laserhaas (Original post)

Mon Apr 30, 2018, 01:37 AM

4. +++ K&R . Over and over and over Bain screws people

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Response to lunasun (Reply #4)

Mon Apr 30, 2018, 01:46 AM

5. You have - No Idea - how true that statement is

 

Or that they do so, in partnership with, Goldman Sachs

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Response to laserhaas (Original post)

Mon Apr 30, 2018, 05:57 AM

7. That happened to my mother ... almost impossible to prove in a court of law.

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Response to laserhaas (Original post)

Mon Apr 30, 2018, 06:27 AM

8. forever Utah will be punished for their (R)primary choice

yes, it was a republican but not the grand poobah with the stink-eyed woman spokesman,

Senator Mittens will suffer 100s of meals with the president,

all in Vegas served by lovely girls,

kiss the ring of loyalty Mittens,

ride on the roof of the republicans' station wagon forever.

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Response to laserhaas (Original post)

Mon Apr 30, 2018, 06:51 AM

10. The gop has

already decided he will run for president. He is perfect in their eyes. Screws the little guy, looks out for other multi millionaires. They screwed up with tRump, but will get it right next time. Pence will be thrown under the bus. Mittens will be anointed, no women scandals that we know of. This time Queen Anne will be kept quiet.

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Response to laserhaas (Original post)

Mon Apr 30, 2018, 07:26 AM

11. Oh these deals have to stop

Borrowing to takeover for resale or to go public ... same thing. Buy it for nothing, in fact make money on the deal, then flip for 200% more than you paid for it.

I too could be very rich if I can buy assets for no money down and flip them. Who's in with me?

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Response to bucolic_frolic (Reply #11)

Mon Apr 30, 2018, 11:10 AM

12. Worse than you think

 

Fraud, corruptio, mayhem, murder

Racketeering...

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Response to laserhaas (Original post)

Mon Apr 30, 2018, 12:15 PM

13. Romney likes being able to fire people

 

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Response to laserhaas (Original post)

Mon Apr 30, 2018, 12:27 PM

14. Huh. People working for firm that disposes of workers, jobs, businesses like used Kleenex . . .

. . . are getting treated like used Kleenex. Shocking.

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Response to laserhaas (Original post)

Mon Apr 30, 2018, 05:46 PM

15. Locking - the hosts do not regard the New York Post as a reliable source suitable for LBN

(owned by Murdoch, and with a long history of dubious and misleading stories). Our policy is to not allow any articles from it in LBN. Please repost with a more reliable media source (or from a reputable blog). It can, alternatively, be posted in GD, where there are no quality controls on the source.

Thanks.

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