It was doing quite well before Bain.
I will tell you, after following his and so many others buying and reorganizing and selling all kinds of companies, sorry, whatever company is for sale out there is for sale and being bought at a certain price and with some conditions because someone thinks they can do better managing it.
I very much doubt that company was doing as well as that friend of yours think, if it was sold as it was.
Not only that, many times owners and officers of the companies that sell keep a working interest in them, that ought to tell you something.
It is always sad when people lose their jobs, any job, if it is the local mom and pop restaurant because the new highway changed the route, a product quit being competitive or a company reorganized.
That is the way the world works.
Bluey, have you ever heard of a hostile takeover? Do you know what a leverage buyout firm (private equity) purpose is? It's to make money for the private equity investors. That's it. Plain and simple. If it means shipping jobs overseas, closing the plant down and pawning the pensions off on the taxpayers (that's you and me by the way), as long as it makes money for the private equity investors, that's just fine.
Venture capital is what you're thinking of. Bain Capital has done some venture capital deals, but they are not the same thing as a leveraged buyout (private equity) investment. Leveraged buyout heaps debt on the company, charges large fees and then, if the company can't survive the additional debt and fees, breaks it up and sells it off.
Let's say you're running a horse boarding and training business. An LBO comes in and increases your debt by 50% and slaps a management fee on you. No real other change. Are you going to be able to make it with a larger debt to pay off and additional fees?
Yep, I know, ever heard of T. Boone Pickens?
Whatever happened to his scheme for windmills?
He had to hold off on the huge wind turbine deal he was promoting, so it is on hold right now.
Have not heard much about him lately, but he is getting up in age and I expect energy for much new stuff, with already so much to manage.
I am not opposed to profits, however, when you reduce the work force (employees) you are also shrinking 'your' consumer base in the long run.
And that just isn't good math.
Romney has a degree from Harvard Law and Harvard Business schools.
What working background WOULD make the best president? Not being sarcastic, but seriously? Seems right now a kindergarden teacher used to making a bnch of out of control children get it together ight be in order.
How about a little perspective, shall we...
The total amount of investment of Private Equity firm Bain Capital $66 BILLION.
Total amount of Federal budget in each year Obama was in office approx $3.5 TRILLION.
I'm sorry. Can you explain what the investment of Bain Capital has to do with the federal budget?
So what will the CEO in chief do for states that are not creating wealth ? Cut them off from federal programs ? Make them exit the union ? Corporate experience has nothing to do with managing the government. I cannot believe people think running the country is even similiar to running a corporation.
OK. Good. I wasn't getting that.
I bring in Bain capital, as I said before, because I don't think making a lot of money makes you a good businessman, or president. It also brings in a LOT of morality issues. What arguments do you think are false?
This is the beginning of a trend in response to Obamacare.
Darden will begin to implement a policy in 2013 to deal with Obamcare mandates. Their new employees will not be hired as fulltime employees, they will be part timers. This is a new trend to get around the mandates of Obamacare.
The restaurant business is just beginning to start this trend in hiring. But others will surely follow.
I think making a lot of money by shipping all of the jobs from an Illinois town to make MORE money is immoral when you could have kept it here and not made quite so much.
I think making a lot of money because you secretly got $10 million from the auto bailout that you lambasted Obama for giving is immoral.
I've posted these links repeatedly.
You can't think of other examples where people make a lot of money and it's very immoral? Drug dealers? Prostitution rings? Pornography, or child pornography if you're OK with the regular. I could give a LONG list of ways to make a ton of money that everyone would agree is seriously immoral to somewhat immoral.