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“Gov.Perry was perfectly right when he described Bain as “vulture capitalism” “

Romney and Bain bought the company in 2000, loaded KB Toys with millions in debt, then used the money to repurchase Bain stock. By 2004, 365 stores had closed.
Mitt Romney and Bain saw a 900% return on their investment in KB Toys, at the expense of 15,000 jobs.

Worldwide Grinding Systems went belly up after Bain invested in it. The company not only lost 750 jobs, but the federal government had to come in to bail out its pension fund, while Bain walked away with millions in profits.

The Wall Street Journal, aiming for a comprehensive assessment, examined 77 businesses Bain invested in while Mr. Romney led the firm from its 1984 start until early 1999, to see how they fared during Bain’s involvement and shortly afterward.

“Among the findings: 22% either filed for bankruptcy reorganization or closed their doors by the end of the eighth year after Bain first invested, sometimes with substantial job losses. An additional 8% ran into so much trouble that all of the money Bain invested was lost. [...]

The Journal analysis shows that in total, Bain produced about $2.5 billion in gains for its investors in the 77 deals, on about $1.1 billion invested. Overall, Bain recorded roughly 50% to 80% annual gains in this period”


100 posted on 02/19/2012 5:14:21 PM PST by Marguerite (When I'm good, I am very, very good. But! When I'm bad, I'm even better)
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To: Marguerite
Of course he was right. There were too many times in which Bain dumped the companies. makes the allure appear to where someone on Wall Street knew when to make the decisions. Rush tried to cut the tap off when Newt never attacked free market, he was trying to tell the voter that there were some irregularity practices in Bain. Not all people got the drift. If he makes it as the nominee, it will come back up. Rick will lose the women voters, if he is the nominee. Why I am supporting Newt (he has experience of knowing how to work on important issues in getting America turned around/the man has been over-vetted, now for years)
110 posted on 02/19/2012 5:28:02 PM PST by Christie at the beach (I like Newt and would love to see political dead bodies on the floor.)
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To: Marguerite

Romney and Bain bought the company in 2000, loaded KB Toys with millions in debt, then used the money to repurchase Bain stock. By 2004, 365 stores had closed.


KB Toys was dead in the water when Bain bought it. Walmart and Target killed it, not Bain. Quit getting your facts from HuffPo.


112 posted on 02/19/2012 5:29:42 PM PST by magritte (Nevermind)
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