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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 01:07:47 PM

bigbadideasinaction: If you're wondering how this is good for a VC


I like your post, but for the current thread it's misleading.

I deal with VC investors daily. Bain is not a VC. Bain is a private equity firm. You can find Bain's business model posted accurately in this thread, it has nothing to do with venture capital.

Under Romney, Bain destroyed companies and risked none of his own money. Real investors build companies and risk their own money. Google Warren Buffet.
 
2012-04-22 01:09:01 PM

spiderpaz: 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.


George Will was talking this morning, thankfully not about the Denim Scourge of the 21st Century, but he agreed that this election would look like 2004 but flip the parties.
 
2012-04-22 01:12:47 PM
ox45tallboy: - I think we are having one of those "things sounding different in your head than they are in mine" moments. I never thought you were calling me a teabagger or anything else. I was responding to Booga who was making the same clarification, so I was explaining why I put teabagger in quotes to begin with.

I say no harm, no foul. It is obvious that at least on this issue we agree in principle if not in rhetoric.
 
2012-04-22 01:13:54 PM

Delay: bigbadideasinaction: If you're wondering how this is good for a VC

I like your post, but for the current thread it's misleading.

I deal with VC investors daily. Bain is not a VC. Bain is a private equity firm. You can find Bain's business model posted accurately in this thread, it has nothing to do with venture capital.

Under Romney, Bain destroyed companies and risked none of his own money. Real investors build companies and risk their own money. Google Warren Buffet.


From Bain Capital's web site

About Us

Established in 1984, Bain Capital is one of the world's leading private investment firms managing approximately $60 billion in assets under management. Our affiliated advisors make private equity, public equity, leveraged debt asset, venture capital, and absolute return investments across multiple sectors, industries, and asset classes.
 
2012-04-22 01:15:56 PM

Hobodeluxe: why do people who win lotteries take the immediate lump sum at a huge loss instead of the long term payout over 20 or so years?


because they are smart? the money you receive as a lump sum if invested, will be far greater than the money you will receive if you elect the long term 20 year payout at the end of the 20 year period. I'm too hung over to make a financial model of this right now but for the sake of my argument pretend that I did, and it was convincing.
 
2012-04-22 01:17:48 PM

Delay: bigbadideasinaction: If you're wondering how this is good for a VC

I like your post, but for the current thread it's misleading.

I deal with VC investors daily. Bain is not a VC. Bain is a private equity firm. You can find Bain's business model posted accurately in this thread, it has nothing to do with venture capital.

Under Romney, Bain destroyed companies and risked none of his own money. Real investors build companies and risk their own money. Google Warren Buffet.


Second response - first was posted halfway through...

I know there's a different model between the two. It was more a general talk of the role of large companies in capital. The "good" ones understand to pay themselves first, and their model eventually becomes degenerate. Bain's just a symptom of a greater disease in funding.
 
2012-04-22 01:18:49 PM
All I know is that buy singling out Farkers and zapping them with the ignore button, I am getting a 5,500% return out of the ignore feature.
 
2012-04-22 01:22:16 PM

bigbadideasinaction: Established in 1984, Bain Capital is one of the world's leading private investment firms managing approximately $60 billion in assets under management. Our affiliated advisors make private equity, public equity, leveraged debt asset, venture capital, and absolute return investments across multiple sectors, industries, and asset classes.


I could say I make charitable contributions to prostitutes, drug dealers and hospitals. Unless you know my $$$ allocation it's just words.

Bain is a private equity firm and not a VC. Look it up.
 
2012-04-22 01:24:56 PM

bigbadideasinaction: Delay: bigbadideasinaction: If you're wondering how this is good for a VC

I like your post, but for the current thread it's misleading.

I deal with VC investors daily. Bain is not a VC. Bain is a private equity firm. You can find Bain's business model posted accurately in this thread, it has nothing to do with venture capital.

Under Romney, Bain destroyed companies and risked none of his own money. Real investors build companies and risk their own money. Google Warren Buffet.

From Bain Capital's web site

About Us

Established in 1984, Bain Capital is one of the world's leading private investment firms managing approximately $60 billion in assets under management. Our affiliated advisors make private equity, public equity, leveraged debt asset, venture capital, and absolute return investments across multiple sectors, industries, and asset classes.


Yeah? Well Taco Bell's menu says they serve pizza, but how often do they actually sell one?
 
2012-04-22 01:25:11 PM

bgddy24601: ox45tallboy: - I think we are having one of those "things sounding different in your head than they are in mine" moments. I never thought you were calling me a teabagger or anything else. I was responding to Booga who was making the same clarification, so I was explaining why I put teabagger in quotes to begin with.

I say no harm, no foul. It is obvious that at least on this issue we agree in principle if not in rhetoric.


ihasahotdog.files.wordpress.com
 
2012-04-22 01:25:48 PM

verbaltoxin: All I know is that buy singling out Farkers and zapping them with the ignore button, I am getting a 5,500% return out of the ignore feature.


How does one buy Farkers?
 
2012-04-22 01:26:30 PM

Karac: Yeah? Well Taco Bell's menu says they serve pizza, but how often do they actually sell one?


Until late.
 
2012-04-22 01:28:34 PM

TheOnion: I don't know what all happened with Romney and Bain, but this article is pretty obviously not giving an objective history, so I'm going to ignore it. I'd like to know the real story though. Wikipedia wasn't much help.


Sounds like Fox News probably fits your needs.

/Oh BTW, please turn in your login ID
 
2012-04-22 01:30:14 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.


As I pointed out above, my mom was a community organizer for years. She never did any of the things you've described. I honestly don't understand how you feel that insulting my mom and what she did for other people adds to this thread, or to political discourse in general.

You undercut your entire argument when you stoop to the level of insulting someone else's mom, especially when your accusations are wholly without merit.
 
2012-04-22 01:30:22 PM

Karac: Yeah? Well Taco Bell's menu says they serve pizza, but how often do they actually sell one?


I attempted to make that same point and failed by comparison.
 
2012-04-22 01:32:10 PM

thamike: verbaltoxin: All I know is that buy singling out Farkers and zapping them with the ignore button, I am getting a 5,500% return out of the ignore feature.

How does one buy Farkers?


Click on their handle within a thread, then click on the handy "sponsor this Farker for TotalFark" button. They'll be very, very nice to you for a month.
 
2012-04-22 01:34:11 PM
Mitt Romney: 'Corporations are people, my friend.'

So yeah, he's a serial killer then.
 
2012-04-22 01:34:36 PM

Karac: Yeah? Well Taco Bell's menu says they serve pizza, but how often do they actually sell one?


This one sells quite a few:

www.blogcdn.com

/I actually really like the contraption Taco Bell calls "Mexican Pizza".
 
2012-04-22 01:40:32 PM

ox45tallboy: Karac: Yeah? Well Taco Bell's menu says they serve pizza, but how often do they actually sell one?

This one sells quite a few:

[www.blogcdn.com image 345x259]

/I actually really like the contraption Taco Bell calls "Mexican Pizza".


Hot Pocket makes better pizza than Taco Hell and Pizza Rut.
 
2012-04-22 01:45:08 PM
I worked for a company a few years ago that go bought out by a PE firm. What this article describes was basically EXACTLY what happened in that case too.

I would never put a PE guy in charge of anything I didn't want to see immediately raped, pillaged, then killed.
 
2012-04-22 01:46:24 PM

WhoIsNotInMyKitchen: I worked for a company a few years ago that go bought out by a PE firm. What this article describes was basically EXACTLY what happened in that case too.

I would never put a PE guy in charge of anything I didn't want to see immediately raped, pillaged, then killed.


So Bain Capital's buyout of Clear Channel actually worked out pretty well, then.
 
2012-04-22 01:47:51 PM
What never, ever gets mentioned by the job-creator-fellators is that all of those created jobs have to be actually performed by someone. It's the workers in the factories or the cubicles or out beating the streets who actually make things happen. Since humans are not mindless puppets (yes, I know, just go with it a minute), the job creators can't take full credit for directing the workers to flawlessly execute their magnificent vision. The workers, who are expected to be both skilled at and dedicated to the work being done, have at least as much of a stake in the company's outcome as the owners. I know this is all basic, been said before, yada yada yada. It needs to be said again, and a lot more often, because it's been absolutely dwarfed by the paid rhetoric on behalf of the "job creators" who run the system.

/Socialism!
 
2012-04-22 01:48:48 PM

ox45tallboy: Karac: Yeah? Well Taco Bell's menu says they serve pizza, but how often do they actually sell one?

This one sells quite a few:

[www.blogcdn.com image 345x259]

/I actually really like the contraption Taco Bell calls "Mexican Pizza".


This phrasing made me snert.

/Not snart.
 
2012-04-22 01:53:58 PM

Weaver95: meanwhile, rank and file Republicans standing in line at the welfare office will fight to the bitter end to make sure the GOP assholes who put them out of work in the first place get to stay in office and screw over the working man as much as possible.


at the same time, those same out of work GOP voters biatch about unemployment being so high, that the government should stop paying welfare and on and on and on

we REALLY need some basic IQ test before you can vote.

2+2=
mexico is north of US or south of US

if you get either wrong, they sterilize you and you lose the right to vote forever
 
2012-04-22 01:55:27 PM

ox45tallboy: 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.

As I pointed out above, my mom was a community organizer for years. She never did any of the things you've described. I honestly don't understand how you feel that insulting my mom and what she did for other people adds to this thread, or to political discourse in general.

You undercut your entire argument when you stoop to the level of insulting someone else's mom, especially when your accusations are wholly without merit.


It's ACORN derp... Ignorance is comsidered an art form by some. They revel in it.

/ tip of the cap to your mom btw
 
2012-04-22 01:58:29 PM

tenpoundsofcheese: 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.


zzzzzzzzz
 
2012-04-22 02:03:13 PM

Lochsteppe: What never, ever gets mentioned by the job-creator-fellators is that all of those created jobs have to be actually performed by someone. It's the workers in the factories or the cubicles or out beating the streets who actually make things happen. Since humans are not mindless puppets (yes, I know, just go with it a minute), the job creators can't take full credit for directing the workers to flawlessly execute their magnificent vision. The workers, who are expected to be both skilled at and dedicated to the work being done, have at least as much of a stake in the company's outcome as the owners. I know this is all basic, been said before, yada yada yada. It needs to be said again, and a lot more often, because it's been absolutely dwarfed by the paid rhetoric on behalf of the "job creators" who run the system.


Exactly the same as what some Scottish guy wrote in 1776. Link
 
2012-04-22 02:04:34 PM
TheOnion had great opening and midgame play, with tenpoundsofcheese with the closer.
 
2012-04-22 02:04:35 PM

Delay: Lochsteppe: What never, ever gets mentioned by the job-creator-fellators is that all of those created jobs have to be actually performed by someone. It's the workers in the factories or the cubicles or out beating the streets who actually make things happen. Since humans are not mindless puppets (yes, I know, just go with it a minute), the job creators can't take full credit for directing the workers to flawlessly execute their magnificent vision. The workers, who are expected to be both skilled at and dedicated to the work being done, have at least as much of a stake in the company's outcome as the owners. I know this is all basic, been said before, yada yada yada. It needs to be said again, and a lot more often, because it's been absolutely dwarfed by the paid rhetoric on behalf of the "job creators" who run the system.

Exactly the same as what some Scottish guy wrote in 1776. Link


Yeah, well, he probably invented a time machine and came to 2012 to steal the idea from me.

/It's what I would have done.
 
2012-04-22 02:09:16 PM

ox45tallboy: Waxing_Chewbacca: Love Barney

I do, too. Can we just throw the whole Wall Street mess at him and this chick?

[assets.nydailynews.com image 485x364]

Seriously. Stick those two in a room, give them free reign to do pretty much whatever they want as far as bank regulations are concerned, and then periodically toss in an "investment banker" for them to eat.

If Frank weren't otherwise inclined, their love-child would crawl out of her womb, devour Bernanke whole, and proceed to reassemble the financial markets like a set of Legos.

They could make a movie about it on Lifetime starring Brian Dennehy and Julia Roberts.


A remake of "Making Money" with more of a focus on Lord Vetinari.
 
2012-04-22 02:11:04 PM

Lochsteppe: Yeah, well, he probably invented a time machine and came to 2012 to steal the idea from me.

/It's what I would have done.



Maybe it's the other way around? Some guy named Smith reads a post in 2012 by some guy named Lochsteppe. There was a movie I watched like this. There was a DeLorean and a clock.
 
2012-04-22 02:12:45 PM

tenpoundsofcheese: 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?


Without seeing Mr. Romney's tax returns, it is impossible to know how much of his investments - past and present - are actually carried interest, though much of his fortune is from his years at the buyout firm Bain Capital, and a significant share of his family's wealth is still connected to Bain.


NYT.

Link

You assert he has no pull around that place? Good one.

/Interesting article on Romney and the "carried interest" loophole he uses to pay corporate gains rates on risk free capital that Obama wants to close that Romney opposes.
//Not a threadjack. "Just responding to another poster".
 
2012-04-22 02:16:31 PM

TheOnion: I read the whole article but, as I said, it's clearly pushing an agenda, so I just ignored it.


So then you also ignore Fox Izvestia, right?

img1.fark.net
 
2012-04-22 02:16:31 PM

Weaver95: His formula was simple: Bain would purchase a firm with little money down, then begin extracting huge management fees and paying Romney and his investors enormous dividends

incidentally, Ayn Rand considered classified people like this as 'looters' and she hated them more than she hated moochers.

how's that grab ya? Even Ayn Rand hates Romney's style of running a business. sobering, ain't it?

\

So true.

Most of the hate Ayn Rand gets is caused by two things - 1. Idiots who read the books but are too stupid to understand the meaning, and 2. Idiots who never read the books but are happy to jump on the bandwagon. Far too many Ayn Rand fans out there read her books and completely missed the point and just fuel the idiots who hate her but never read the books. It is a lot like religion actually.

The entire point of Objectivism is rational self interest - meaning do what is best for yourself, but never at the expense of others. Sadly, most of the idiots out there who spout off about going Galt have forgotten the "not at the expense of others" part of the deal.
 
2012-04-22 02:29:36 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?


Again, that's money spent over a number of years.
Look, this isn't rocket science. I don't know if you're doing this on purpose or you really do expect someone to give you the "See Spot Run" version of stimulus spending. Both demonstrate an extreme amount of ignorance on your part.
 
2012-04-22 02:32:02 PM

tenpoundsofcheese: So we will finally get a President who can cut through the waste and bloat of the government! Awesome.
It is time to restructure that mess.

The best 0bama could do was something about salmon and regulations about spilled milk.


i75.photobucket.com
 
2012-04-22 02:45:23 PM

thamike: verbaltoxin: All I know is that buy singling out Farkers and zapping them with the ignore button, I am getting a 5,500% return out of the ignore feature.

How does one buy Farkers?


Funyuns and Mt. Dew
 
2012-04-22 02:52:06 PM
cybrwzrd
Weaver95: His formula was simple: Bain would purchase a firm with little money down, then begin extracting huge management fees and paying Romney and his investors enormous dividends

incidentally, Ayn Rand considered classified people like this as 'looters' and she hated them more than she hated moochers.

how's that grab ya? Even Ayn Rand hates Romney's style of running a business. sobering, ain't it?\

So true.

Most of the hate Ayn Rand gets is caused by two things - 1. Idiots who read the books but are too stupid to understand the meaning, and 2. Idiots who never read the books but are happy to jump on the bandwagon. Far too many Ayn Rand fans out there read her books and completely missed the point and just fuel the idiots who hate her but never read the books. It is a lot like religion actually.

The entire point of Objectivism is rational self interest - meaning do what is best for yourself, but never at the expense of others. Sadly, most of the idiots out there who spout off about going Galt have forgotten the "not at the expense of others" part of the deal.


oh pullleeeeezzzee. I have read Atlas Shrugged and some of Ayn Rand's other writings.

Objectivism is just as dumb as communism: it depends on a faulty understanding of human nature.

There are a lot of assholes out there who want to take advantage of their fellow humans and/or who fall prey to short-term greed. Doesn't matter what the economic system is supposed to be, the turds float to the top and oppress adn abuse everyone else. Rand and libertarians generally seem to lack a "theory of mind" when it comes to power-mongering and short-term profiteering.

See: China now, the Western industrial revolution in the 19th century, ... some farktard will always want to put melamine in the milk or dirty peanut scraping in the peanut butter or toxic red-coloring in the cheese rind because. they. just. don't. care. They want the money. And that's why we need regulations, motherfarker.
 
2012-04-22 03:01:10 PM

quatchi: tenpoundsofcheese: 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?

Without seeing Mr. Romney's tax returns, it is impossible to know how much of his investments - past and present - are actually carried interest, though much of his fortune is from his years at the buyout firm Bain Capital, and a significant share of his family's wealth is still connected to Bain.




You really don't understand.
His wealth is tied into the portfolio positions of Bain Capital.
That does NOT mean that he as any influence on the operational decisions of the firm.
That is especially true if his positions are in funds that are no longer investing.
 
2012-04-22 03:11:30 PM

TheOnion: I don't know what all happened with Romney and Bain, but this article is pretty obviously not giving an objective history, so I'm going to ignore it. I'd like to know the real story though. Wikipedia wasn't much help.



and its important you don't know so Romney can get you on board the winning team. lol
 
2012-04-22 03:14:06 PM

themindiswatching: See, Romney IS a job creator! He created jobs in Mexico.



Romney is a hard, fat, dry Turd released from the ass of Lady Liberty. Stools like him are rewarded for undermining what's left of our market system and way of life.
 
2012-04-22 03:15:09 PM

Mentat: Mitt Romney as a tapeworm. I think that's a meme that deserves promoting.



no, he's the Turd. Tapeworms everywhere resent that remark.
 
2012-04-22 03:15:49 PM

Linux_Yes: Mentat: Mitt Romney as a tapeworm. I think that's a meme that deserves promoting.


no, he's the Turd. Tapeworms everywhere resent that remark.


a Turd with a smile, that is.
 
2012-04-22 03:16:27 PM

Otto's_Jacket: As an employee of Clear Channel, I can speak first hand of how shiatty these assholes are to work for. CC is really a brutal company.



as as CONservative politically as they come.
 
2012-04-22 03:17:01 PM
Everything you need to know about Barack Obama can be summed up by reading his college papers.

Oh wait, we're not allowed to do that. I can't imagine why.

Everything you need to know about Barack Obama can be summed up by his dealings with unrepentant terrorist Bill Ayres, a man who wakes up every morning saying 'today I'm going to destroy capitalism'

Oh wait, we're not allowed to talk about that.

Everything you need to know about Barack Obama can be summed up by his dealings over 20 years with Rev. Wright, and by scrutinizing the things said in Obama's church.

Oh wait, we're not allowed to talk about that.

Everything you need to know about Barack Obama can be summed up by the fact that he appointed a 9/11 truther and avowed communist named Van Jones as a 'green jobs czar'.

Oh wait, we're not allowed to talk about that.

Everything you need to know about Barack Obama can be summed up by how he takes full responsibility for things and takes ownership of problems.

Oh wait, he doesn't do that.

Everything you need to know about Barack Obama can be measured by how many jobs have been added since he took office.

Oh wait, there are 3 million less jobs than when he took office and if unemployment is measured against that figure, it's 11% or higher

Everything you need to know about Barack Obama can be summed up by his statements about the redistribution of wealth or the destruction of the private health care industry

Oh wait, we're not allowed to talk about that or we're "liars"
 
2012-04-22 03:18:43 PM

Dusk-You-n-Me: I'll say it again. The leeches aren't at the bottom, they're at the top.



you got that right. the Underground is more straight than the Overground in America.
 
2012-04-22 03:21:07 PM
the Lesson that Unbridled Capitalism teaches is that if a Nation licks Capitalist Ass long enough over time, then that Nation and its Citizens is going to get it up the ass hard and often from these same Capitalists. History shows that time and time again.
 
2012-04-22 03:23:15 PM

randomjsa: derp


If even 10% of that was actually a problem, you'd think the FBI would veto him even being on the ballot during their background checking.

/face it: you're butthurt that President Obama won the first time.
 
2012-04-22 03:26:07 PM
themindiswatching

randomjsa: derp

If even 10% of that was actually a problem, you'd think the FBI would veto him even being on the ballot during their background checking.

/face it: you're butthurt that President Obama won the first time.


Just more random jizzum from randomjizzum
 
2012-04-22 03:29:26 PM

tenpoundsofcheese: You really don't understand.
His wealth is tied into the portfolio positions of Bain Capital.
That does NOT mean that he as any influence on the operational decisions of the firm.
That is especially true if his positions are in funds that are no longer investing.


So, if Mitt Romney walked into the front door of Bain today do you think A) security would quickly usher him out because he doesn't work there or B) he would be ushered up to any office he damn well felt like?

Take your time.

Bottom line is Mitt's trying to sell himself to America here on the same "business experience = WIN" crap that helped propel Dumbya and Cheney into power. Between them they had more "business experience" than almost any other POTUS/VP combo you'd care to name.

And how'd that work out again?

He's trying to sell himself as a Job CreatorTM based on his time at Bain when in reality that wasn't what he did there.

Also, while he was Gov of MA the state was 47th in the nation in job creation.

So there's that.

Anyway, good luck in your quixotic quest here. Gonna need it.
 
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