Open letter to O`newt (and a reply from Reddy Kil O'watt)

1-12-12 | weldallday

[weldAllday]

Open letter to O`newt Mr. Gingrich you had my vote . Right up to your jumping the shark moment.

[TheOldLady]

I love Reddy Kilowatt. He’s a much friendlier zot graphic, but just as deadly, I suppose.

[Col Freeper]

I love Reddy Kilowatt. He’s a much friendlier zot graphic, but just as deadly, I suppose.

LOL, Me too (obviously).

I changed the text on purpose to be less .... ummm .... harsh.

Maybe some of those Zotees will be able to redeem themselves at FR in the future (only those that deserve a second chance of course).

You're welcome to use him if you want. If you would like a copy of him with your own text added (and my Col Freeper label removed), send me an FRmail. I made him up as an Adobe Illustrator vector graphics file so that I can change/rearrange/resize him and the pic. Then I save a copy as a .jpg file for posting on the web.

[JediJones]

Private equity firms like Bain drive up the debt of the firms they acquire, take huge amounts of that money for themselves as dividends and fees, and then if those firms go bankrupt (as 4 of Bain's 10 biggest acquisitions did in the '90s) Bain gets to keep all of that borrowed money. The banks and taxpayers get stuck paying for their windfall profits by covering the bad loans and paying pension insurance. Even Romney himself acknowledged these tactics are wrong, he just never gave back any of the money.

http://www.nytimes.com/2007/06/04/us/politics/04bain.html?em&ex=1181102400&en=6775bac3b9dcb503&ei=5087%0A

Bain and its co-investors extracted special payments of over $100 million from each company, enabling Bain to make a healthy profit even before re-selling the businesses — a practice known as “getting back your bait.” Lenders say Bain is one of the firms that has taken the most in such payments, which companies usually make by taking on additional debt.

Both Dade Behring and KB Toys soon suffered dips in their business. Unable to meet the burden of their debts, each filed for bankruptcy and laid off thousands of workers. Bain Capital spokesmen have said the company did nothing improper.

Mr. Romney, who remains an investor in Bain Capital, said he had not been involved in those decisions but acknowledged that such payments became part of the buyout business “very early on.”

“It is one thing that if I had a chance to go back I would be more sensitive to,” Mr. Romney said. “It is always a balance. Great care has got to be taken not to take a dividend or a distribution from a company that puts that company at risk.” He added that taking a big payment from a company that later failed “would make me sick, sick at heart.”

[TheOldLady]

I absolutely do not mind borrowing your work, as is, with your name on it. I'm very pleased and happy to accept graphics from my friends and attribute their work. Thank you very much!