"Progressive" Media Attacking Romney's Work At Bain

[Patranus]

Several independent fact-checkers can't verify whether that claim is true, but Ed Kastenbaum saw a different story unfold at the East Bay packaging company where he worked when Bain acquired a controlling interest in it a decade ago.

Kastenbaum watched many of his friends and co-workers leave the company, which sold boxes and bags to retailers, or lose their jobs after Bain tried to squeeze more efficiencies out of his division, beginning in 2002.

http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2012/01/13/MNPE1MO8HO.DTL

The only problem is that Romney left Bain in 1999 and and Bain purchased Unisource in 2002.

 

[jman19]

Guess what, other Republicans are attacking Romney's work at Bain too.

 

[woodie1]

Guess what, other Republicans are attacking Romney's work at Bain too.

Now that's a group of people you can trust with your life.

 

[Patranus]

Guess what, other Republicans are attacking Romney's work at Bain too.

LOL - You didn't even read the post.
They are not attacking Romney for work that happened at Bain when he didn't work there.

 

[jackschmittusa]

Patranus

The right has attacked him for things when he was not there. You need to read more. The superpac video is full of stuff about when he wasn't there, even stuff that happened when Bain wasn't involved.

 

[Skyclad1uhm1]

This is cute too: http://www.bbc.co.uk/news/world-us-canada-16549624

 

[Craig234]

I understand that today, Romney reversed his position and said he opposed Bain.

 

[davmat787]

This is cute too: http://www.bbc.co.uk/news/world-us-canada-16549624

Reminds me of an ad I saw from a Paul PAC I believe, that questioned Huntsmans patriotism as it showed him speaking fluent Mandarin Chinese. And gasp! Holding a chinese baby! Of course they fail to mention he served as Ambassador to China for several years, and was a US trade rep for the PacRim.

What a joke. Just what kind of douchebag does it take to come up with this kind of crap? It only gets worse each cycle.

 

[trenchfoot]

Reminds me of an ad I saw from a Paul PAC I believe, that questioned Huntsmans patriotism as it showed him speaking fluent Mandarin Chinese. And gasp! Holding a chinese baby! Of course they fail to mention he served as Ambassador to China for several years, and was a US trade rep for the PacRim.

What a joke. Just what kind of douchebag does it take to come up with this kind of crap? It only gets worse each cycle.

You ain't seen nothing yet. Wait 'til the Repubs and their unique kind of morals and ethics stop feeding on their own and turn their undivided attention against Obama.😀

 

[boomerang]

You ain't seen nothing yet. Wait 'til the Repubs and their unique kind of morals and ethics stop feeding on their own and turn their undivided attention against Obama.😀

Hey, let's start now!

 

[Jhhnn]

He may have "left" Bain capital years ago, but they're still paying him-

http://www.nytimes.com/2011/12/19/u...ey-flowing-to-romney.html?_r=1&pagewanted=all

It's not like Bain has reversed course in the meanwhile, either- they're still all lootocracy, all the time. Romney set the tone, established their successful business model years ago when he was the boss. Raping and pillaging is just as profitable as it's ever been, probably more so- it's just that they've stepped up from the power of the sword to the power of the pen, and of computers... personal risk is obviously a lot less in the process, too...

 

[Fenixgoon]

This is cute too: http://www.bbc.co.uk/news/world-us-canada-16549624

i honestly couldn't believe that.

if i were mitt romney, i'd say "is that the best you can do?"

 

[VinylxScratches]

I don't want a fucking Mormon running america.

 

[Rainsford]

http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2012/01/13/MNPE1MO8HO.DTL

The only problem is that Romney left Bain in 1999 and and Bain purchased Unisource in 2002.

So you think the media is trying to pull a fast one on you when the story contained both of those facts?

If you read the story carefully, it seems pretty clear that this is an anecdotal rebuttal of the general idea that Bain "created jobs"...not that Romney is personally responsible for this particular case. I'm not sure one example is enough to make that case, although the media is always more interested in individual human interest stories than anything else.

But I think Romney's work at Bain is definitely fair game, since he's made an issue of it as relevant real world business experience creating jobs.

 

[kage69]

Newt is a progressive now? lol

 

[Plugers]

Reminds me of an ad I saw from a Paul PAC I believe, that questioned Huntsmans patriotism as it showed him speaking fluent Mandarin Chinese. And gasp! Holding a chinese baby! Of course they fail to mention he served as Ambassador to China for several years, and was a US trade rep for the PacRim.

What a joke. Just what kind of douchebag does it take to come up with this kind of crap? It only gets worse each cycle.

Wrong, that was just some random YouTube video. It was not approved by Paul's team. I agree, the person who made the video is a d-bag. It wasn't Paul though.

 

[micrometers]

So you think the media is trying to pull a fast one on you when the story contained both of those facts?

If you read the story carefully, it seems pretty clear that this is an anecdotal rebuttal of the general idea that Bain "created jobs"...not that Romney is personally responsible for this particular case. I'm not sure one example is enough to make that case, although the media is always more interested in individual human interest stories than anything else.

But I think Romney's work at Bain is definitely fair game, since he's made an issue of it as relevant real world business experience creating jobs.

It is so much better that this is what they're talking about rather than pithy issues like abortion or "9-9-9"

this is interesting:

http://news.investors.com/Article/5...capital-funded-steel-dynamics.htm?src=HPLNews

Steel Dynamics is another steel company that Bain invested in, and it succeeded mightily.

 

[MomentsofSanity]

Wrong, that was just some random YouTube video. It was not approved by Paul's team. I agree, the person who made the video is a d-bag. It wasn't Paul though.

How was what he posted wrong? He didn't attribute it to Paul but a PAC supporting Paul. About the only thing that could be wrong is whether or not it is an actual, approved PAC. They call themselves NHLiberty4Paul. Doubtful they are an actual PAC but what was posted is pretty much spot on.

 

[micrometers]

What I don't understand about Bain is this: how is it that so many Bain acquisitions could go bankrupt while Bain made a profit?

Normally in the corporate world, when a company merges with another company, they take on all sorts of risk such as the acquired company's debt. If the acquisition goes bad, the new combined entity can go bankrupt.

In the case of Bain, in every case Bain would acquire a company and then force the company to pay it, Bain management fees in the millions, and if things went bad the new company might go bankrupt but Bain would not be touched.

 

[Joepublic2]

I don't want a fucking Mormon running america.

Having known people that escaped the church I'd have to agree.

You ain't seen nothing yet. Wait 'til the Repubs and their unique kind of morals and ethics stop feeding on their own and turn their undivided attention against Obama.😀

Yeah, democrats have never single mindedly attacked every involuntary nervous twitch or fumbled word of a republican president.

 

[Jhhnn]

What I don't understand about Bain is this: how is it that so many Bain acquisitions could go bankrupt while Bain made a profit?

Normally in the corporate world, when a company merges with another company, they take on all sorts of risk such as the acquired company's debt. If the acquisition goes bad, the new combined entity can go bankrupt.

In the case of Bain, in every case Bain would acquire a company and then force the company to pay it, Bain management fees in the millions, and if things went bad the new company might go bankrupt but Bain would not be touched.

It's structural, a manifestation of the influence of the Lootocracy on corporate governance. The operable mechanism is debt acquisition by the owned target firm & transfer of borrowed funds to the parent corp through a variety of means. The target firm is just a conduit for the transfer of money from outside investors to the inside investors of the private equity firm. When possible, the pump & dump leaves the outside investors going bust after they buy the heavily indebted target firm.

Not Bain, but the principle applies-

http://www.nytimes.com/2009/10/05/business/economy/05simmons.html?pagewanted=all

 

[Plugers]

How was what he posted wrong? He didn't attribute it to Paul but a PAC supporting Paul. About the only thing that could be wrong is whether or not it is an actual, approved PAC. They call themselves NHLiberty4Paul. Doubtful they are an actual PAC but what was posted is pretty much spot on.

I agree with you 100% I just didn't present it very well.