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(Broward/Palm Beach New Times)   Everything you need to know about Mitt Romney can be summed up by this article detailing his stint with Bain Capital   (browardpalmbeach.com) divider line 373
    More: Scary, Mitt Romney, Bain Capital, profit shared, annual percentage yield, management fees, Kennedy family, capitalism  
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9592 clicks; posted to Politics » on 22 Apr 2012 at 1:42 AM (2 years ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2012-04-22 11:44:34 AM

ox45tallboy: tenpoundsofcheese: And you are worried about getting a President who knew how to make money? You are worried about the boogeyman under the bed while ignoring the monster in front of you.

If he could "make money" for the country, that would be great. But his interest has always been for himself and the people he borrowed money from, NOT the company he was "running". If he had a proven track record of turning unprofitable companies around, and working towards their long-term health, that would be different. However, he has ZERO experience in this. He takes already healthy companies and saddles them with debt in order to walk away a much wealthier individual. Is this what we want from a president?


vs. the person who had no experience in business at all and saddled the country with about 5,000,000,000,000 in debt?
 
2012-04-22 11:47:44 AM

tenpoundsofcheese: vs. the person who had no experience in business at all and saddled the country with about 5,000,000,000,000 in debt?


Yep. I'll take economic reinvestment for long-term growth and prosperity any day over someone who specializes in short-term gains for the profit of the already obscenely wealthy at the expense of long-term viability.
 
2012-04-22 11:50:32 AM

tenpoundsofcheese: vs. the person who had no experience in business at all and saddled the country with about 5,000,000,000,000 in debt?


Did he do that by causing the financial problems in the first place, and after pocketing several million in profits for himself?
 
2012-04-22 11:51:01 AM

Speaker2Animals: Lando Lincoln: It makes sense in the short term. And they're all about the short term.

Funny -- you could make the exact same comment about the Republican Party of the past 30 years.


I think the fact that many people still assume the Republican Party accidentally happened to this result is a sign that they were very clever.
 
2012-04-22 11:54:15 AM

Bontesla: Speaker2Animals: Lando Lincoln: It makes sense in the short term. And they're all about the short term.

Funny -- you could make the exact same comment about the Republican Party of the past 30 years.

I think the fact that many people still assume the Republican Party accidentally happened to this result is a sign that they were very clever.


I think you're probably making a good point, I just for some reason cannot wrap my head around that sentence structure.
 
2012-04-22 11:59:42 AM
Great read.

/Fox News bubble demographic won't get it though
 
2012-04-22 11:59:53 AM

DeadBaby: The call center I work at off and on (summer job mostly) got bought out by an investment firm. shiat went downhill fast. At least for the employees. They got stupid strict on everything and made the place into a living hell all in the name of profit. For a lot of people in my town, they rely on this job to support their families and it was really sad to see these greedy assfarks come in and shiat all over us so they could make a little extra cash. Well anyway, as most of these cockbiters do, they sold the operation to yet another company. I haven't been back yet but I can guess it will probably suck even harder. Thank god I'm graduating next year.


I work for a publicly traded company. We're in the process of being purchased by an investment firm out of the New England area. But the company is currently run by insane people so I'm fairly certain things will improve.
 
2012-04-22 12:07:31 PM

tenpoundsofcheese: where did the last 5,000,000,000,000 go? anyone know?
Happened in the last 3 years.


Your eyes are in your head. When your head is up your arse, so are your eyes, and you aren't able to see signs like this all over the country:

www.cornelldemocrats.org
 
2012-04-22 12:07:34 PM

MithrandirBooga: bgddy24601: ox45tallboy: bgddy24601: quatchi: If America is dumb enough for vote a Vulture Capitalist into power while still recovering from the last shiatstorm the GOP brewed up then you'll pretty much be getting the government you deserve. Sad to say.

I love my country and I am willing to fight for it and die for it. But if Romney is elected I don't know if I will be able to live in it anymore. Which makes me really really sad.

You sound like a Teabagger c. 2008. Fact is, Romney could do a lot of damage, but I don't think it would be so much damage that I would be unable to live in this country anymore.

After all, we lived through 8 years of this under Bush II, with two wars happening at the same time. Yes, the country was worse off in 2009 than in 2001, but I think we'll survive.

I think we will survive, but I am not sure. We are nowhere near recovered enough from those 8 years of fiscal idiocy. The global economy is still in a very fragile state, and one or two wrong moves could very well be disastrous for this country. If that makes me sound like a "Teabagger" I am sorry, but this is not the time to follow short sighted quick fixes that will wind up making things 100 times worse and that is all I see coming out of Romney's camp. His support of the Ryan budget would aid in its being passed and that could be the straw that breaks the camel's back.

I'm not saying I would leave. I am not calling for a return to "the Christian ideals of the Founding Fathers". I don't care if the President is near. I give a damn about the tired and the poor and the huddled masses in our own back yard. In other words, Proverbs 22:16


He's not saying you're a teabagger, he's saying you sound like what they claimed in 2008, ie "I'm leaving if Obama is elected!". A better example would be the hollywood types who said the same in 2004 if Bush got reelected, though.


I know. That's why I said "If that makes me sound like a teabagger". The reason "teabagger" was alone in quotes in the original response is because I believe that the automatic name calling (teabagger, libtard, etc.) just lowers the chance for rational discourse about the topic at hand. I may be spitting into the wind (and Lord knows I have been guilty of the same name calling from time to time) but as a rule I hope that we can one day get back to being Americans as opposed to Republicans and Democrats being the new Hatfield and McCoys.
 
2012-04-22 12:09:46 PM
4.bp.blogspot.com

Bain Capitalism
 
2012-04-22 12:11:47 PM
Mitt Romney has an uphill battle for the election, and he has no idea what "uphill" feels like.
 
2012-04-22 12:13:26 PM

winterwhile: CPennypacker: winterwhile: CPennypacker: tenpoundsofcheese and winterwhile. This thread is in danger of collapsing under its own stupidity. Get out while you still can.

So name one thing I said that was wrong

And I will shut up

Will you?

Everything you say is wrong. Will you shut up now?

Pick one


Not really interested in playing find the stupid with you. Easier just to ignore all the moron-red posts. Carry on though I'm sure the 5 people who still don't have you on ignore are enthralled.
 
2012-04-22 12:15:06 PM

ox45tallboy: tenpoundsofcheese: where did the last 5,000,000,000,000 go? anyone know?
Happened in the last 3 years.

Your eyes are in your head. When your head is up your arse, so are your eyes, and you aren't able to see signs like this all over the country:

[www.cornelldemocrats.org image 325x301]


we spent 5,000,000,000,000 on shovel ready jobs? Really??

Did we get a receipt for all that work?
 
2012-04-22 12:16:40 PM

ox45tallboy: tenpoundsofcheese: And you are worried about getting a President who knew how to make money? You are worried about the boogeyman under the bed while ignoring the monster in front of you.

If he could "make money" for the country, that would be great. But his interest has always been for himself and the people he borrowed money from, NOT the company he was "running". If he had a proven track record of turning unprofitable companies around, and working towards their long-term health, that would be different. However, he has ZERO experience in this. He takes already healthy companies and saddles them with debt in order to walk away a much wealthier individual. Is this what we want from a president?


Also, the purpose of the US government is not (or at least shouldn't be) to turn a profit; it's to serve its citizens. To that end, I'd prefer a person experienced in managing organizations dedicated to service over someone experienced in making a profit.
 
2012-04-22 12:16:58 PM

bgddy24601:
I know. That's why I said "If that makes me sound like a teabagger". The reason "teabagger" was alone in quotes in the original response is because I believe that the automatic name calling (teabagger, libtard, etc.) just lowers the chance for rational discourse about the topic at hand. I may be spitting into the wind (and Lord knows I have been guilty of the same name calling from time to time) but as a rule I hope that we can one day get back to being Americans as opposed to Republicans and Democrats being the new Hatfield and McCoys.


Look, I wan't trying to call you a teabagger. My statement was, "You sound like a teabagger..." I was pointing out that by using the same pointless, overplayed, and nonsensical rhetoric that the teabaggers use, it was lessening your own argument.

You make a valuable and insightful point about the damage that can be done if this country is run like Rmoney has run companies in the past, but the point is lost when you make an over-the-top statement such as suggesting you would leave the country if he is elected.

If Rmoney's elected, I'm not leaving the country, I'm just going to take a more active role in protesting actions I find detrimental to the long-term economic health of this country, and especially any policies which directly benefit the already obscenely wealthy. I'm going to do my best to bring the consequences of these actions to the forefront of discussions among voters, especially those policies and actions that directly affect individuals I know and care about.

That "tax rebate" crap Bush pulled in 2001 made quite a few people happy for a few days, but look at the economic consequences the country has paid long-term.
 
2012-04-22 12:16:59 PM
It's not "summed up" if it's 5 pages long.
 
2012-04-22 12:18:50 PM

Karac: Plant: "Gee, Mitt, our plant is doing great. We're putting on a third shift, doing the best we have in years. Employees are getting a piece of the profits, everyone's got health insurance and a pension, it's just great. We don't really need you."

Mitt: "Well, maybe I could come in with you, take a part of the joint"

Plant: "I don't know, do you have any experience running a steel mill? Have you ever been in one, say a million times?"

Mitt: "I don't know nothing about the steel business. All I know is how to sit down and draw loans. Let's do this."

So now the plant's got Mitt as a business partner. Anything that's not a problem he takes to Mitt. Maintenance on the machines, employees, pension, insurance, managers who know how to run the place - it calls Mitt. But now it has to pay Mitt a management fee every month no matter what. And Mitt can run up bills on the business's credit. And why not - it's not like he has to pay for it anyway. Loans go in the front door and management fees go out the back. It doesn't matter, it's all profit. Finally, when there's nothing left; when the pension funds dry, when the plant can't borrow another buck from the bank, you bust the joint out. File it for bankruptcy. None of the bills are in Bain's name anyhow.


That's clever. Do that to a little restaurant in the Bronx and they call you a mobster. Do that to companies that employ thousands and you're a job creator and get to run for president.
 
2012-04-22 12:18:50 PM

ox45tallboy: Bontesla: Speaker2Animals: Lando Lincoln: It makes sense in the short term. And they're all about the short term.

Funny -- you could make the exact same comment about the Republican Party of the past 30 years.

I think the fact that many people still assume the Republican Party accidentally happened to this result is a sign that they were very clever.

I think you're probably making a good point, I just for some reason cannot wrap my head around that sentence structure.


You're right. It was terrible. I'll clarify:

I believe the Republican party is manufacturing a revolution within itself. It's similar to a controlled-demolition.
 
2012-04-22 12:21:29 PM

TFerWannaBe: Also, the purpose of the US government is not (or at least shouldn't be) to turn a profit; it's to serve its citizens. To that end, I'd prefer a person experienced in managing organizations dedicated to service over someone experienced in making a profit.


You mean, like a "community organizer"?

/My mom worked as a community organizer for years in the Head Start program. I have never actually wanted to strike a woman as much as I did when I heard Palin make that remark.
 
2012-04-22 12:23:51 PM

RareChimer: It's not "summed up" if it's 5 pages long.


Mitt Romney thinks people who never went to college should keep quiet. Just a heads up.
 
2012-04-22 12:26:27 PM

tenpoundsofcheese: dumbobruni: i'm suprised that no one has brought up Clear Channel yet. It was bought by Bain and Thomas H Lee.

Clear Channel managed to avoid bankruptcy with its $18 billion LBO debt, but it was delisted by stock exchanges. A company that was once worth $20 billion is now worth $500 million; the business itself is profitable, but not enough to offset interest expenses.

granted, this happened after Mittens left,

so bring it up in a Mittens thread anyway? Partisan much?


Mittens's started BC and continues to have influence on it.

BC bought CC who continue to run it.

Clearchannel owns Rush Limbaugh's fat 4-f ass.

Limbaugh endorsed Romney in 2008 before he fell in line behind McCain.

I think now, based on the way the campaign has shaken out, that there probably is a candidate on our side who does embody all three legs of the conservative stool, and that's Romney.


That puts CC in play in a Bain thread.

Bad news for Mittens particularly as news of his control freak tendencies emerge and stories about former Bain executives being sued in Federal court for allegedly firing managers for not belonging to the LDS church. get ink.

LOL @ "partisan much?". You so cray cray, Cheesy!

How do you do it, man?

How do you wake on a given morning and announce to yourself, "Well, guess it's time to log into Fark and try to convince people that electing Gordon Gekko and the rest of the 1%er knob-polishing squad is the smart move for Americans in 2012"?

Guess my question there is really less "how do you wake and do that?" and more "how did you get to sleep in the first place?".

*blink*
 
2012-04-22 12:26:50 PM
This is the kind of 'capitalism' republican greedheads practice and love. Why do you think they keep their working class useful idiots all worked up over nonsense like gay marriage and having pissing contests over who are the most real Americans uber patriots?
 
2012-04-22 12:28:45 PM

tenpoundsofcheese: ox45tallboy: tenpoundsofcheese: where did the last 5,000,000,000,000 go? anyone know?
Happened in the last 3 years.

Your eyes are in your head. When your head is up your arse, so are your eyes, and you aren't able to see signs like this all over the country:

[www.cornelldemocrats.org image 325x301]

we spent 5,000,000,000,000 on shovel ready jobs? Really??

Did we get a receipt for all that work?


All of your questions can be answered here:
http://www.recovery.gov/Pages/default.aspx
 
2012-04-22 12:29:56 PM

Farker Soze:

That's clever. Do that to a little restaurant in the Bronx and they call you a mobster. Do that to companies that employ thousands and you're a job creator and get to run for president.


You do know that no one was force to take Bain's money, right? Right??
 
2012-04-22 12:33:00 PM
So does all this mean Mitt will sell America to China and India and move to Aruba when he's finished?
 
2012-04-22 12:33:26 PM

I Like Bread: http://www.recovery.gov/Pages/default.aspx


Not even close.

That tracks 840B.

I asked about the 5,000,000,000,000

got anything else? any other receipts?
 
2012-04-22 12:33:27 PM

tenpoundsofcheese: dumbobruni: i'm suprised that no one has brought up Clear Channel yet. It was bought by Bain and Thomas H Lee.

Clear Channel managed to avoid bankruptcy with its $18 billion LBO debt, but it was delisted by stock exchanges. A company that was once worth $20 billion is now worth $500 million; the business itself is profitable, but not enough to offset interest expenses.

granted, this happened after Mittens left,

so bring it up in a Mittens thread anyway? Partisan much?


first of all, that's the pot calling the kettle black.

and second, this thread is as much about private equity as it is about Mittens. quit your whining.
 
2012-04-22 12:34:38 PM

ox45tallboy: TFerWannaBe: Also, the purpose of the US government is not (or at least shouldn't be) to turn a profit; it's to serve its citizens. To that end, I'd prefer a person experienced in managing organizations dedicated to service over someone experienced in making a profit.

You mean, like a "community organizer"?

/My mom worked as a community organizer for years in the Head Start program. I have never actually wanted to strike a woman as much as I did when I heard Palin make that remark.


;)

I'm not thrilled with Obama but yes, I think that's exactly the type of person we should have running our country - talented leaders of successful nonprofits dedicated to serving people. I think it's the right attitude.
 
2012-04-22 12:36:30 PM

tenpoundsofcheese: Farker Soze:

That's clever. Do that to a little restaurant in the Bronx and they call you a mobster. Do that to companies that employ thousands and you're a job creator and get to run for president.

You do know that no one was force to take Bain's money, right? Right??


Just like nobody was forced to sign up for those home loans?

You're nothing if not predictable.
 
2012-04-22 12:37:35 PM

RareChimer: It's not "summed up" if it's 5 pages long.


If it hadn't been a summary, it would have taken you 20 years to read it.
 
2012-04-22 12:38:34 PM

Savage Belief: So does all this mean Mitt will sell America to China and India and move to Aruba when he's finished?


Exchange Aruba with Paraguay and that's what our last president did.
 
ecl
2012-04-22 12:40:41 PM

tenpoundsofcheese: I Like Bread: http://www.recovery.gov/Pages/default.aspx

Not even close.

That tracks 840B.

I asked about the 5,000,000,000,000

got anything else? any other receipts?



Threadjack. Bannination please.
 
2012-04-22 12:41:40 PM

quatchi:
Mittens's started BC and continues to have influence on it.

He left Bain Capital in 1998. Where is your source that says that he has influence? Or are you making things up again?

BC bought CC who continue to run it.

Bought in 2006. Romney left Bain in 1998. Blame Romney.

Limbaugh endorsed Romney in 2008 before he fell in line behind McCain.
OMG. Have you also noticed how negative Limbaugh has been about Romney? Looks like your argument fell apart.

That puts CC in play in a Bain thread.
Not even close.


Guess my question there is really less "how do you wake and do that?" and more "how did you get to sleep in the first place?".

Easy. I look at the facts, not the emotion. I don't make things up like Romney continues to have influence on Bain Capital and I notice that Limbaugh has actually been anti-Romney even though he works with Clear Channel.

 
2012-04-22 12:41:57 PM

I Like Bread: tenpoundsofcheese: ox45tallboy: tenpoundsofcheese: where did the last 5,000,000,000,000 go? anyone know?
Happened in the last 3 years.

Your eyes are in your head. When your head is up your arse, so are your eyes, and you aren't able to see signs like this all over the country:

[www.cornelldemocrats.org image 325x301]

we spent 5,000,000,000,000 on shovel ready jobs? Really??

Did we get a receipt for all that work?

All of your questions can be answered here:
http://www.recovery.gov/Pages/default.aspx


dunno about the rest of the country but there are quite a few road construction projects with those signs going around my area...
 
2012-04-22 12:42:05 PM
Kosman says it's telling that Romney never cites companies he actually managed as evidence of his job-building skills.

"If Romney had some stories to tell, he'd use those stories," he says. "I think it's very interesting that he's not telling those stories, because I think they don't exist."


This is the heart of it. I came to this thread to see if anyone can answer the above question: give one concrete example of a company successfully turned around by Romney's management, with an explanation of what he ordered specifically to create the success. And so far, no one, not his apologists, not his campaign, and not he himself, has done so.
 
2012-04-22 12:42:57 PM

ecl: tenpoundsofcheese: I Like Bread: http://www.recovery.gov/Pages/default.aspx

Not even close.

That tracks 840B.

I asked about the 5,000,000,000,000

got anything else? any other receipts?


Threadjack. Bannination please.


I replied to someone else's post.
If you want to ban, start there.
 
2012-04-22 12:44:49 PM

winterwhile: Gyrfalcon: It's interesting...just about the same time (1998-2000) the same sort of thing was happening to a company you'd think would be immune to this kind of b/s--Disney. They pulled the same crap: Hiring in outside managers with zero experience in the field, changing rules willy-nilly so that long-term employees (the ones with actual pensions & retirement plans) could be fired, requiring everyone to reapply for jobs they already had...and the consequences to the company were dire. Those were the years of such debacles as the "Light Magic" parade, the Tomorrowland remodel and so on, and the first of the massive price increases.

However, the Disney family still owns a lot of the company and Disney is a public corporation...I wonder if that made a difference. This kind of evil was so rampant in the first decade of the 2000's, its a wonder the country is still standing.


Yes yes yes... more evil business

No way these guys ever make any evil money or employ anybody

The answer... socialism... works every place it is tried...right?


Who said anything about socialism? How about ethical business practices?

Don't tell me you're one of those "if you're not with us..." Bushbot douchebags.
 
2012-04-22 12:46:36 PM

Virulency: I Like Bread: tenpoundsofcheese: ox45tallboy: tenpoundsofcheese: where did the last 5,000,000,000,000 go? anyone know?
Happened in the last 3 years.

Your eyes are in your head. When your head is up your arse, so are your eyes, and you aren't able to see signs like this all over the country:

[www.cornelldemocrats.org image 325x301]

we spent 5,000,000,000,000 on shovel ready jobs? Really??

Did we get a receipt for all that work?

All of your questions can be answered here:
http://www.recovery.gov/Pages/default.aspx

dunno about the rest of the country but there are quite a few road construction projects with those signs going around my area...


Mine, too. My wife's business and my uncle's business are both benefiting because of road building and updating going by both of their businesses. Of course, that has nothing to do with Romney and Bain, but still.
 
2012-04-22 12:47:27 PM

RyogaM: Kosman says it's telling that Romney never cites companies he actually managed as evidence of his job-building skills.

"If Romney had some stories to tell, he'd use those stories," he says. "I think it's very interesting that he's not telling those stories, because I think they don't exist."

This is the heart of it. I came to this thread to see if anyone can answer the above question: give one concrete example of a company successfully turned around by Romney's management, with an explanation of what he ordered specifically to create the success. And so far, no one, not his apologists, not his campaign, and not he himself, has done so.


But the, um, Olympics! He saved the Olympics!

/ you sir have hit the nail squarely upon its head. He hasn't done a damn thing he claims he has. That's why he can't give examples... There aren't any. That would be a nice question from POTUS to Mittens in a debate. A Jeb Bartlet moment...

"Give me one concrete example of a company you built up, one example of a company you didn't just wreck for profit. Just one and I'll drop out of this race".
 
2012-04-22 12:47:59 PM

TFerWannaBe: Also, the purpose of the US government is not (or at least shouldn't be) to turn a profit; it's to serve its citizens. To that end, I'd prefer a person experienced in managing organizations dedicated to service over someone experienced in making a profit.


Yep. And, from its very beginning, as much as possible, the activities of the US government are done in the open, unlike private equity firms.

The Senators should appoint a President of the Senate, for the sole Purpose of receiving, opening and counting the Votes for President; and, that after he shall be chosen, the Congress, together with the President, should, without Delay, proceed to execute this Constitution. Letter of Transmittal
 
2012-04-22 12:48:59 PM
Managers were replaced by people who knew nothing of steel.

This is a big and crowing problem in our culture. Management and Sales/Marketing are now considered areas of expertise completely separate from the products/serves being managed/sold.

Imagine a car dealership where the salesmen and the manager knew absolutely nothing about cars, and had authority to make demands fo the car manufactures. "We think we could boost sales if we promise flying cars." "It looks like you spend a lot of money on radiators, I'm ordering a run of 200,000 without them so we can cut the price."

This is America's corporate culture. Where what a company does/makes is considered distant afterthought.
 
2012-04-22 12:49:00 PM

Savage Belief: winterwhile: Gyrfalcon: It's interesting...just about the same time (1998-2000) the same sort of thing was happening to a company you'd think would be immune to this kind of b/s--Disney. They pulled the same crap: Hiring in outside managers with zero experience in the field, changing rules willy-nilly so that long-term employees (the ones with actual pensions & retirement plans) could be fired, requiring everyone to reapply for jobs they already had...and the consequences to the company were dire. Those were the years of such debacles as the "Light Magic" parade, the Tomorrowland remodel and so on, and the first of the massive price increases.

However, the Disney family still owns a lot of the company and Disney is a public corporation...I wonder if that made a difference. This kind of evil was so rampant in the first decade of the 2000's, its a wonder the country is still standing.


Yes yes yes... more evil business

No way these guys ever make any evil money or employ anybody

The answer... socialism... works every place it is tried...right?

Who said anything about socialism? How about ethical business practices?

Don't tell me you're one of those "if you're not with us..." Bushbot douchebags.


Bingo
 
2012-04-22 12:50:04 PM
And yet noone seems to mind the the scamminest of being a community organizer, where you can declare yourself a tex free organization, collect "donations" and alter elections with impunity.
 
2012-04-22 12:50:30 PM

RyogaM: Mine, too. My wife's business and my uncle's business are both benefiting because of road building and updating going by both of their businesses. Of course, that has nothing to do with Romney and Bain, but still.


My previous employer was pretty much driven under / close to it by Republicans cutting back on road/bridge work as well as the Republican governor of New Jersey favoring the companies of out of state contributors.

Bonus? The owners were massively hardcore Republicans. I honestly don't understand how anyone involved in civil construction can be a supporter of the Republican party. It's just not in your financial interests.
 
2012-04-22 12:52:17 PM
i.imgur.com

If you don't like Obama, then this is the dirtbag you end up with.
 
2012-04-22 12:52:55 PM

snowshovel: And yet noone seems to mind the the scamminest of being a community organizer, where you can declare yourself a tex free organization, collect "donations" and alter elections with impunity.


Alter elections? Gee I wonder where this line of crap is leading?
 
2012-04-22 12:53:43 PM

Zombalupagus: [i.imgur.com image 562x449]

If you don't like Obama, then this is the dirtbag you end up with.


you do know that that is not real, right?
 
2012-04-22 12:55:34 PM
Ah yes, capital firms.

Company I was working for got some cash from a venture capital firm a number of years ago. Here's what they did for us:

1) Replace 80% of the board with their own board, which now outnumbers the actual employees of the company (we were a small tech company). These board members shall be comprised of people who put the CEO on their board last time around. Set up shop 1000 miles away from the employees.

2) Hire people who worked with you on the last one as "admin staff" for the new office, including significant others and family friends, to work as admin staff, assistants, etc. This also outnumbers the original company in size. Also, from what I was told, these people, down to the people answering phones, all get paid more than any of the original employees of the company.

3) Daily business lunches, weekly major business dinners, all for the people in the new location, none of them actually contributing or selling product.

4) Don't forget bonuses while regular employees' wages are frozen.

5) Work through the capital they gave ASAP, mostly into the pockets of the people associated with the company. Offer the company another round for more of the company stock once you're out of money - basically your choice is say yes or go bankrupt.

Value added - 10% of our sales were through the new folks. 0% of the product was through them.

If you're wondering how this is good for a VC, here's the best part - by forcing you to go back to the trough through their own overspending, the fund manager's portfolio grows faster and faster. They don't get paid based on how much money the companies make, they get paid based on the size of the investment in them. The sucker investors keep giving them money back. It's just a hair short of a ponzi scheme as long as they keep getting more investment dollars in. All they have to do after that is keep a skeleton crew on the old company so it's still "operating" and it stays on their books. All the actors on their side walk away with 6-7 figures for a couple of years of mostly part-time "advising".
 
2012-04-22 12:57:23 PM

snowshovel: And yet noone seems to mind the the scamminest of being a community organizer, where you can declare yourself a tex free organization, collect "donations" and alter elections with impunity.


Weird huh, that no one looked at the record of 0bama's results as a community organizer (how did those communities actually do? what were the results?). there was a great article about that a while ago (terrible results) but am too lazy to re-google.

I think it is good that Romney's record is being discussed. Too bad the record of community organizing hasn't been discussed.
 
2012-04-22 01:05:39 PM
From what I can tell from the Ryan Plan, and every idea the GOP and/or Mitt Romney has put out their plan is to run the country essentially the same way that Romney rain Bain so that they can give a huge dividend tax break to the wealthy people that fund the GOP.

Romney Plan: slash healthcare assistance, education, infrastructure projects, and all the other things that make America prosperous long term, in exchange for making a profit for America's wealthy short term, and then throw the whole thing in a ditch and move on. Brilliant - he's planning on running America the same way he ran Bain when he made himself rich at the expense of all the peasants under his boot.
 
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