Allstocks.com's Bulletin Board Post New Topic  Post A Reply
my profile login | register | search | faq | forum home

  next oldest topic   next newest topic
» Allstocks.com's Bulletin Board » Off-Topic Post, Non Stock Talk » Why Does Mitt Romney Like Firing People?

 - UBBFriend: Email this page to someone!    
Author Topic: Why Does Mitt Romney Like Firing People?
raybond
Member


Rate Member
Icon 1 posted      Profile for raybond     Send New Private Message       Edit/Delete Post   Reply With Quote 
Why Does Mitt Romney Like Firing People? Because He Made $20,000 On Every Laid-Off Worker

June 15th, 2012 10:35 pm Axel Tonconogy


Mitt Romney would prefer for you to recall just one number regarding his record at Bain Capital. That would be 100,000 — the number of jobs that the Republican candidate claims he created during 15 years at the private equity firm.

But now there is a more interesting, plausible and relevant number: $20,000. That’s how much money Romney is estimated to have made from each worker laid off during Bain’s many corporate takeovers.

In fairness, Romney’s goal at Bain was never to create jobs but to reap the biggest returns for their valued investors. Judging by that metric, he did exceedingly well, as even Bill Clinton accidentally admitted when discussing Romney’s “sterling” business career. And of course, Romney’s fortune, estimated somewhere between $190 million and 250 million, attests to that assessment.

But over the course of the Romney’s years at Bain Capital, at least five of the companies he took over eventually went bankrupt, while still rewarding Bain investors handsomely:


• American Pad & Paper: Bain invested $5 million in the Ohio paper company in 1992, and reportedly collected $100 million in dividends on that investment. But AMPAD went bankrupt in 2000, resulting in 385 employees losing their jobs.

• Dade Behring: Bain invested $415 million in a leveraged buyout in 1994, borrowed an additional $421 million, and ultimately walked away with $1.78 billion. Dade filed for bankruptcy in 2002, and laid off 2,000 employees.

• DDI Corporation: Bain reportedly invested $46.3 million in the electronic parts manufacturer 1997, earning $85.5 million in profits plus $10 million more in management fees. When the company went bankrupt several years later, 2,100 workers were laid off.

• GS Industries: In 1993, Bain invested $60 million in the Kansas City steel maker, borrowed a lot of money, and then took $65 million in dividends. But GS eventually went bankrupt in 2002, and 750 workers lost their jobs and pensions.

• Stage Stores: Bain invested $5 million to purchase the Houston-based retailer and took it public in the mid-’90s, reaping $100 million from stock offerings. In 200o, following Romney’s departure from Bain, Stage filed for bankruptcy and 5,795 workers were reportedly dismissed.

While it is true that some of those companies went under after Romney had left Bain, the job growth for which he now seeks credit also occurred after his departure in 1999. But the bankruptcies — and the bust-out scenario that helped Bain to profit anyway — are not news. What AOL’s Daily Finance has contributed to the Bain debate is a simple calculation: Bain Capital booked $1.995 billion in profits from the layoffs of 11,030 workers at various firms. And by that scoring, Romney earned roughly $20,000 himself for each of those fired employees. Nice work if you can get it (or take it away from someone else).

--------------------
Wise men learn more from fools than fools from the wise.

Posts: 3767 | From: beautiful California | Registered: Sep 2008  |  IP: Logged | Report this post to a Moderator
CashCowMoo
Member


Rate Member
Icon 1 posted      Profile for CashCowMoo     Send New Private Message       Edit/Delete Post   Reply With Quote 
Oh brother

--------------------
It isn't so much that liberals are ignorant. It's just that they know so many things that aren't so.

Posts: 6946 | Registered: Apr 2004  |  IP: Logged | Report this post to a Moderator
CashCowMoo
Member


Rate Member
Icon 1 posted      Profile for CashCowMoo     Send New Private Message       Edit/Delete Post   Reply With Quote 
At Party, Bloomberg Tips Hand on Endorsement

Mr. Bloomberg said that he believed Mr. Romney would probably be better at running the country than Mr. Obama, according to two guests.


http://thecaucus.blogs.nytimes.com/2012/06/18/at-party-bloomberg-tips-hand-on-en dorsement/

--------------------
It isn't so much that liberals are ignorant. It's just that they know so many things that aren't so.

Posts: 6946 | Registered: Apr 2004  |  IP: Logged | Report this post to a Moderator
glassman
Member


Icon 1 posted      Profile for glassman     Send New Private Message       Edit/Delete Post   Reply With Quote 
running the country to where tho cash?

that's the real problem isn't it?

ai hear the GOP's saying over and over again how badly Obama has performed as a leader. i would offer this in return, you can lead a horse to water, but you can't lead people who will not follow... that's what has happened..

this health care bill that is prolly unconstitutional? ithe part that is unConstitututional was first suggested byt eh heritage foundation and endorsed by newt Gingrich and Bob Dole...

the way to make it constitutional is not even complicated but it is impossible witht he way the country is running right now. All they have to do is raise taxes on everybody adn then offer a tax break.. that would make it "constitutional" of course, that would amount to "single payer" which is exaclty WHY the GOP's offerd this way instead...

point being? there is no way to lead a bunch of jerkoffs like we have in DC... and i mean on both sides of the aisle.

--------------------
Don't envy the happiness of those who live in a fool's paradise.

Posts: 36378 | From: USA | Registered: Sep 2003  |  IP: Logged | Report this post to a Moderator
CashCowMoo
Member


Rate Member
Icon 1 posted      Profile for CashCowMoo     Send New Private Message       Edit/Delete Post   Reply With Quote 
Yes glass, I agree. However, in a room full of monkeys there is always a smarter monkey for the situation.

--------------------
It isn't so much that liberals are ignorant. It's just that they know so many things that aren't so.

Posts: 6946 | Registered: Apr 2004  |  IP: Logged | Report this post to a Moderator
glassman
Member


Icon 1 posted      Profile for glassman     Send New Private Message       Edit/Delete Post   Reply With Quote 
quote:
Originally posted by CashCowMoo:
Yes glass, I agree. However, in a room full of monkeys there is always a smarter monkey for the situation.

change happens regardless and evolution does not select for the smartest. evolution selects the most adaptable [Wink]

--------------------
Don't envy the happiness of those who live in a fool's paradise.

Posts: 36378 | From: USA | Registered: Sep 2003  |  IP: Logged | Report this post to a Moderator
SeekingFreedom
Member


Icon 1 posted      Profile for SeekingFreedom     Send New Private Message       Edit/Delete Post   Reply With Quote 
quote:
this health care bill that is prolly unconstitutional? ithe part that is unConstitututional was first suggested byt eh heritage foundation and endorsed by newt Gingrich and Bob Dole...

Honestly, Glass, I don't dispute that fact that Dole/Gingrich/Heritage introduced the idea. Really, I don't care who 'suggested it'.

The fact that this administration, with the rubber stamp of Dems (many of whom no longer have a job because of it), PASSED it...KNOWING that it wasn't constitutional (pending SCOTUS doing their job)...is what burns me.

If they feel that strongly about certain things then change the laws. We have processes for that. Our system was meant to be changed slowly and deliberately...not through political blitzkreigs like this when one side is temporarily in power.

--------------------
/weepforthenation

Posts: 1802 | From: Utah | Registered: Mar 2008  |  IP: Logged | Report this post to a Moderator
SeekingFreedom
Member


Icon 1 posted      Profile for SeekingFreedom     Send New Private Message       Edit/Delete Post   Reply With Quote 
quote:
Originally posted by CashCowMoo:
Yes glass, I agree. However, in a room full of monkeys there is always a smarter monkey for the situation.

 -

Bozo 2012!!!

--------------------
/weepforthenation

Posts: 1802 | From: Utah | Registered: Mar 2008  |  IP: Logged | Report this post to a Moderator
glassman
Member


Icon 1 posted      Profile for glassman     Send New Private Message       Edit/Delete Post   Reply With Quote 
quote:
Originally posted by SeekingFreedom:
quote:
this health care bill that is prolly unconstitutional? ithe part that is unConstitututional was first suggested byt eh heritage foundation and endorsed by newt Gingrich and Bob Dole...

Honestly, Glass, I don't dispute that fact that Dole/Gingrich/Heritage introduced the idea. Really, I don't care who 'suggested it'.

The fact that this administration, with the rubber stamp of Dems (many of whom no longer have a job because of it), PASSED it...KNOWING that it wasn't constitutional (pending SCOTUS doing their job)...is what burns me.

If they feel that strongly about certain things then change the laws. We have processes for that. Our system was meant to be changed slowly and deliberately...not through political blitzkreigs like this when one side is temporarily in power.

guess what SF? in 1969 Timothy Leary took a POT charge all the way to SCOTUS and won.... he got the pot law decalred UnConstitutional and it only took 32 years...

the law had been written and passed in 1937 i think...

face it, there's no real way to seperate these bozo's. They are about power, not about you and me and our rights. Mitt if he wins will light the economy like bonfire, the problem is it will only last a couple years and then crash again. We have been dpeleted and there's no quick fix. fro romeny to claim there is, is well- just not honest.

--------------------
Don't envy the happiness of those who live in a fool's paradise.

Posts: 36378 | From: USA | Registered: Sep 2003  |  IP: Logged | Report this post to a Moderator
glassman
Member


Icon 1 posted      Profile for glassman     Send New Private Message       Edit/Delete Post   Reply With Quote 
just a reminder here SF:
 -
2006 BOSTON — Massachusetts Governor Mitt Romney signs into law a new health care reform bill during a ceremony at Faneuil Hall April 12, 2006 in Boston, Massachusetts. U.S. Sen. Edward Kennedy (D-MA) (2nd R behind table) and others joined Romney for the signing of the bill, which makes Massachusetts the first state in the country to require that all residents have health insurance. (Photo by Joe Raedle/Getty Images)


i can show you video where Romeny calls it "a bill which I authored" 29 seconds in- "no more free ride" 2:20 in- (very Conservative view huh?):

http://www.youtube.com/watch?v=h__s18YXcMs&feature=player_embedded

he says we are alot better off as a society with this... that's not "just Mass" he's talking about htere.
market pricnple applied here- the heritage foundation worked with US... LOL..

"everybody in this country does get free health care" "we already have universal health care" " it's time to pay for what we already get"- 4:40 in...


"it's the right thing to do".. same thing Obama jsut said about the Dreamers.

at 6:50 he says "this is the Republican way to reform health care"


there is NO CHOICE here.


damn this is one creepy election cycle.

--------------------
Don't envy the happiness of those who live in a fool's paradise.

Posts: 36378 | From: USA | Registered: Sep 2003  |  IP: Logged | Report this post to a Moderator
CashCowMoo
Member


Rate Member
Icon 1 posted      Profile for CashCowMoo     Send New Private Message       Edit/Delete Post   Reply With Quote 
Mitt Romney is supposed to do what the people elected him to do, and the people of MA wanted a new health care law right?

--------------------
It isn't so much that liberals are ignorant. It's just that they know so many things that aren't so.

Posts: 6946 | Registered: Apr 2004  |  IP: Logged | Report this post to a Moderator
glassman
Member


Icon 1 posted      Profile for glassman     Send New Private Message       Edit/Delete Post   Reply With Quote 
quote:
Originally posted by CashCowMoo:
Mitt Romney is supposed to do what the people elected him to do, and the people of MA wanted a new health care law right?

i beleive that it was on Obama's campaign list too cash, and he was elected

Obama delivered almost exaclty what Romney and the heritage Foundation and a whole slew of republicans prescribed. The GOP's in Congress were deeply involved in writing the damn thing and then they voted against it. if you think back? I came out with my opinion that it was unConstitutional almost immediately... i MAY be wrong- only SCOTUS knows for sure [Smile] and they are apt to be wrong too...

seriously? you should listen carefully to that link i posted. Neil cavuto is interviewing him and he is GOP gung-ho, and every one of his arguments are geared toward a natioanl election. not once does he state that it was good for his state, he says good for SOCIETY, and he makes the Conservative case which is pay your way or be denied...

face it he's right about that part. it's a simple error in the way they implemented it and it is easily correctable by increasing taxes adn then giving back a break once you buy- actually a minor technicality when you think about it.

i am covered multiple way myself but i know small business peopel who have hired kids still on thir parents policies now and i know kids that are woking and ares till on their parents policeis. that will be hard to take back

--------------------
Don't envy the happiness of those who live in a fool's paradise.

Posts: 36378 | From: USA | Registered: Sep 2003  |  IP: Logged | Report this post to a Moderator
CashCowMoo
Member


Rate Member
Icon 1 posted      Profile for CashCowMoo     Send New Private Message       Edit/Delete Post   Reply With Quote 
As for the title, if these measures are going to be used against Romney to say he likes firing people then I guess we can find formulas on Obama firing people. I would say..Obama's numbers are a lot worse. Even though most of it is not really his or under his control like Romney had. Romney was much more direct, involved, and executive in creating jobs. At times, people had to go, its a part of business. Bain Capital and associates spend more money on Democrat lobbying than they do Republican. Like I said in another post, if Bain was so bad in the ads the Obama campaign is putting out then why take their money? Thats pure pursuit of the almighty dollar right?


Anyway, we all know the usual picks they have been circulating on potential VP candidates. The latest is this:

Paul Ryan being vetted for VP, unofficially.

http://www.nationalreview.com/corner/303798/ryan-being-vetted-vp-robert-costa

Is it a REAL serious candidate, or is the Romney camp tactically leaking things as a diversion for a surprise pick? Personally, I am hoping for a real big surprise, but not in a Sarah Palin kind of way. Ill take Ryan though. He is a go getter, and the reaction liberals give to him...its priceless some nights on MSNBC.

--------------------
It isn't so much that liberals are ignorant. It's just that they know so many things that aren't so.

Posts: 6946 | Registered: Apr 2004  |  IP: Logged | Report this post to a Moderator
CashCowMoo
Member


Rate Member
Icon 1 posted      Profile for CashCowMoo     Send New Private Message       Edit/Delete Post   Reply With Quote 
Watching Meet the Press and Rubio is obviously not being a secret anymore. Seems more strategic because of Florida. Florida and Immigration, Rubio takes care of that, and then Mitt is seen as good for the economy.

--------------------
It isn't so much that liberals are ignorant. It's just that they know so many things that aren't so.

Posts: 6946 | Registered: Apr 2004  |  IP: Logged | Report this post to a Moderator
   

Quick Reply
Message:

HTML is enabled.
UBB Code™ is enabled.

Instant Graemlins
   


Post New Topic  Post A Reply Close Topic   Feature Topic   Move Topic   Delete Topic next oldest topic   next newest topic
 - Printer-friendly view of this topic
Hop To:


Contact Us | Allstocks.com Message Board Home

© 1997 - 2013 Allstocks.com. All rights reserved.

Powered by Infopop Corporation
UBB.classic™ 6.7.2

Share