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Keyword: privateequity

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  • Grassroots Conservatives to Congress and the President – Don’t Raise the Cost of Investment

    01/30/2017 5:45:44 PM PST · by Sean_Anthony · 3 replies
    Canada Free Press ^ | 01/30/17 | Megan Barth
    Any tax increase that specifically targets private equity, venture capital, real estate and other long-term business investments is counterproductive to reaching that goal Margaret Thatcher reminded us that one of the problems with socialism is you “eventually run out of other people’s money,” but that doesn’t stop liberals like Senate Minority Leader Chuck Schumer (D-NY) from finding more sources. His latest crusade is an effort to increase taxes on investment income – namely carried interest capital gains. For several years Schumer opposed increasing capital gains on carried interest, but now, after declaring he will work with President Trump when he...
  • Ultrawealthy pile into private equity

    07/28/2014 5:09:04 AM PDT · by Citizen Zed · 4 replies
    cnbc ^ | 7-28-2014
    The rich are increasingly enamored with private equity investing, but their rising allocation to PE funds doesn't mean they're cutting back on stock or cash allocations, according to a new survey of ultrawealthy investors by Tiger 21, a peer-to-peer network of high net worth individuals. The 265 members polled—with investable assets of more $25 billion—increased their private equity allocations to 22 percent of the average portfolio during the second quarter of 2014, according to Tiger 21. That matches the record in PE during the first quarter of 2013 and the most significant allocation increase since Tiger 21 began tracking member...
  • IRS audits less than 1 percent of big partnerships

    04/17/2014 6:06:25 PM PDT · by Olog-hai · 2 replies
    Associated Press ^ | Apr 17, 2014 6:24 PM EDT | Stephen Ohlemacher
    The Internal Revenue Service audits fewer than 1 percent of large business partnerships, according to a government report released Tuesday. That means some of Wall Street’s largest hedge funds and private equity firms are largely escaping close scrutiny by the IRS, said Sen. Carl Levin, D-Mich. The Government Accountability Office says the number of large businesses organized as partnerships has more than tripled since 2002, yet hardly any get audited. In 2012, only 0.8 percent were subjected to field exams in which agents do a thorough review of books and records. …
  • Mitt Romney is worth $250 million. Why so little? (Here's a new tack)

    10/05/2012 11:24:55 PM PDT · by 2ndDivisionVet · 27 replies
    The Washington Post ^ | October 5, 2012 | William D. Cohan
    Mitt Romney is indisputably a very rich man. And if he is elected president on Nov. 6, he will become one of the wealthiest people ever to hold the office. But exactly how wealthy is Romney? The figure that gets tossed around is $250 million in net worth — meaning the total value of his assets, financial and others, minus any debts. It’s a big number, but frankly, it seems low. Given the industry in which he made his fortune (private equity), the era when he made it (the 1980s and 1990s) and the wealth of his peers in that...
  • Greed, debt and Matt Taibbi: What Rolling Stone got right, and wrong, about Bain Capital

    09/09/2012 3:05:02 PM PDT · by mojito · 2 replies
    CNN/Fortune ^ | 9/4/2012 | Dan Primack
    Very few of my friends understand private equity, let alone care about it. But some of them wrote me this past weekend, after reading Matt Taibbi's new cover story for Rolling Stone about Mitt Romney's time with Bain Capital. [....] Taibbi took out the long knives for this one, which means he sacrificed a bit of accuracy for potency. His overall thesis is correct: There is a fundamental hypocrisy in a former leveraged buyout investor railing against America's ballooning debt. Leveraged buyouts, by definition, add debt to a company's balance sheet -- weighing it down in the short-term so that...
  • Inquiry on Tax Strategy Adds to Scrutiny of Finance Firms(Bain/Romney)

    09/02/2012 11:19:04 AM PDT · by EBH · 7 replies
    New York Times ^ | 9/1/2012
    Mr. Schneiderman’s investigation will intensify scrutiny of an industry already bruised by the campaign season, as President Obama and the Democrats have sought to depict Mr. Romney through his long career in private equity as a businessman who dismantled companies and laid off workers while amassing a personal fortune estimated at $250 million. Some executives at the firms said they feared that Mr. Schneiderman, a first-term Democrat with ties to the Obama administration, was seeking to embarrass the industry because of Mr. Romney’s roots at Bain. Others suggested that the subpoenas, which were issued by the attorney general’s Taxpayer Protection...
  • Romney's Bain Capital Vs. Obama's Solyndra: Game On

    06/03/2012 1:25:37 PM PDT · by raptor22 · 1 replies
    IBD editorials ^ | June 3, 2012
    Industrial Policy: At the NATO Summit, President Obama said his opponent's private equity success vs. the administration's failed industrial policy was what this election was all about. Speaking at the bankrupt Solyndra headquarters, his GOP opponent agreed. It is said a picture is worth a thousand words. The photo of Mitt Romney holding a surprise press conference in front of the headquarters of the bankrupt solar energy firm Solyndra poster may just be worth a good portion of the 270 electoral votes needed for victory in November. "Two years ago President Obama was here to tout this building and this...
  • Bill Clinton criticizes Obama’s Bain attacks, praises Romney’s ‘sterling business career’

    06/01/2012 8:39:50 AM PDT · by Justaham · 10 replies ^ | 6/1/12 | Holly Bailey
    Former President Bill Clinton suggested in a television interview Thursday that he believes President Obama's re-election campaign should stop trashing Mitt Romney's work in the private equity industry. In an interview with CNN's "Piers Morgan Tonight," Clinton, a top Obama surrogate who is set to raise cash with the president next week, directly contradicted Democrats who have attacked Romney's business record, suggesting it does qualify him for president. "I think he had a good business career," Clinton told guest host Harvey Weinstein, a movie mogul who is one of Obama's top fundraisers. "There's no question that in terms of getting...
  • (Vanity) How to Completely Debunk Obama's Attack on Private Equity

    05/25/2012 11:25:16 AM PDT · by VA Voter · 6 replies
    I just heard Debby Wasserman Schultz on Rush claim that Romney made hundreds of millions of dollars by deliberately bankrupting companies. Romney should offer to give Obama a $1 million campaign donation if Obama can do two things. First, create a hypothetical example of how this can be done and second, show a single example of how this was done by Bain Capital. A private equity company cannot get debt funding, much less equityfunding, to execute a takeover without a business plan showing a plausable turn around concept and profitable exit strategy. Once money goes into a troubled company, it...
  • President Obama Won’t Be Returning His Donations From Bain Capital

    05/24/2012 6:21:21 PM PDT · by Free ThinkerNY · 7 replies ^ | May 24, 2012 | Hunter Walker
    Though the Obama campaign has repeatedly attacked Mitt Romney for his career at Bain Capital, President Obama still accepted $7,500 in campaign contributions from three Bain executives. His campaign press secretary, Ben LaBolt told The Politicker the president has no intention of giving the money back. “No one aside from Mitt Romney is running for President highlighting their tenure as a corporate buyout specialist as one of job creation, when in fact, his goal was profit maximization,” said Mr. LaBolt. ”The President has support from business leaders across industries who have seen him pull the economy back from the brink...
  • Obama national co-chair works in private equity, like Romney

    05/24/2012 6:35:57 PM PDT · by mandaladon · 11 replies
    The Daily Caller ^ | 24 May 2012 | Neil Munro
    <p>One of President Barack Obama’s top campaign spokesmen is a private equity manager whose firm has shut down several factories and laid off hundreds of people amid a stalled economy.</p> <p>Federico Pena’s role at Vestar Capital Partners has emerged as Obama’s aides and deputies continue their effort to portray former Massachusetts Gov. Mitt Romney‘s investment career as ruthless, job-destroying, profit-maximizing “vulture capitalism.” Pena has been a partner at Vestar since 2000.</p>
  • Obama's Attack on Bain Capital Backfires: The President is Campaigning Against Profit

    05/23/2012 11:48:19 AM PDT · by Kaslin · 8 replies
    Rush ^ | May 23, 2012 | Rush Limbaugh
    BEGIN TRANSCRIPT RUSH: This attack on Bain... I told you this was gonna happen. I told you this is why Obama wanted Romney. Way back during the Republican primaries I said Republicans are gonna nominate Romney. That's what Obama wants because of health care, and because of Wall Street. That's what Occupy Wall Street's about, going after Romney. And Obama has now come out and admitted it, that this campaign is gonna be about Bain Capital. It's backfiring everywhere you look, from Cory Booker to now Fast Eddie Rendell, governor of Pennsylvania All these Democrats are piping in, "Wait a...
  • Did You Know That Obama’s Blackstone Backers Laid Off Over 800 People? Beck Explains

    05/22/2012 8:45:07 PM PDT · by Nachum · 4 replies
    The Blaze ^ | 5/22/12 | Glenn Beck
    Ironically, despite making Mitt Romney’s former company Bain Capital and other private equity firms the target of its latest attack, the Obama campaign held a near-$36,000 per plate fundraising dinner at the home of Tony James, president of the nation’s largest private equity firm, Blackstone Group. Citing the president’s latest Romney-hit-piece, Glenn Beck blasted the hypocrisy shown by the president when it comes to private equity firms. Obama’s condemnation of private equity hinges on the familiar narrative that the industry is renown for commandeering companies and slashing jobs, leaving untold numbers jobless — which is why it is doubly ironic...
  • Swinging at Bain, Obama Ignores What Private Equity Is

    05/22/2012 3:20:27 AM PDT · by tobyhill · 14 replies
    abc ^ | 5/22/2012 | By MATT NEGRIN
    Bain Capital has been used as a political weapon against Mitt Romney since 1994, but now his opponents might be rethinking ads about attacking him for his time at the private-equity firm as the ads are being criticized by some Democrats as well as Republicans. President Obama planned to set the political tone for the week with a new ad about an Indiana company that was bought by Bain and then shuttered, as the firm made millions of dollars and workers lost jobs. The biggest problem with the online video: Even Democrats say it attacks the business of private equity...
  • Obama raised most from private equity, hedge funds in 2008

    05/22/2012 7:59:16 AM PDT · by Sub-Driver · 3 replies
    Obama raised most from private equity, hedge funds in 2008 By Jonathan Easley - 05/22/12 09:52 AM ET President Obama raised far more cash from hedge fund and private equity donors than any other candidate in the 2008 election cycle. According to an analysis by the nonprofit group Open Secrets, Obama took in nearly $3.5 million from large private-equity donors that year — nearly twice what his general-election rival, Sen. John McCain (R-Ariz.), pocketed. The data bring into focus the thin line Obama must walk in attacking presumptive GOP presidential nominee Mitt Romney’s background in the industry, which has sparked...
  • Cory Booker And The Bain Of Obama's Existence

    05/21/2012 4:22:53 PM PDT · by Kaslin · 7 replies
    IBD Editorials ^ | May 21, 2012 | Editor
    Campaign 2012: Newark's mayor succumbs to administration thought control after going off-script and praising the private-equity firm that succeeded in creating net jobs, unlike presidential investment Solyndra. The White House must have had a bad case of the vapors when Newark Mayor Cory Booker, viewed in some quarters as a practical, non-ideological problem-solver, praised the record of Mitt Romney's former private firm Bain Capital, before a national audience on NBC's "Meet The Press," and eschewed attacks of a type he found "nauseating." "I have to just say from a very personal level, I'm not about to sit here and indict...
  • The Hedge Fund And Private Equity Stock Train Wreck

    05/08/2012 6:28:20 AM PDT · by SeekAndFind · 1 replies
    Forbes ^ | 05/08/2012 | Nathan Vardi
    When some of America’s biggest hedge fund and private equity firms started to sell ownership through initial public offerings a few years ago, many investors rushed to buy the stocks. The hedge fund and private equity industries had produced Wall Street’s biggest fortunes, billionaires like Stephen Schwarzman, David Rubenstein and Daniel Och. There are now some 50 hedge fund and private equity billionaires—it seemed to make sense for investors to want a piece of the companies that made them rich. But investing in hedge fund and private equity stocks has largely been a disaster for years. Blackstone’s 2007 IPO priced...
  • VANITY: Please help me out with some particulars on this "Bain Capital" outfit

    02/10/2012 7:03:34 AM PST · by OKSooner · 67 replies
    Vanity | 2-10-2012 | Vanity
    Gonna be having dinner with a Romney supporter this weekend. I know everything I need to know about "Bain Capital" and their way of skimming the cream off the top of failing companies, but I need all the information I can get.
  • Bain or Blessing?

    01/29/2012 3:18:05 PM PST · by oblomov · 1 replies
    The Economist ^ | 28 Jan 2012 | unsigned
    The buy-out industry is under attack for destroying jobs. Its returns to investors are the real problem IF STEVE SCHWARZMAN thought it was valid in 2010 to compare Barack Obama’s “war” against business to Hitler’s invasion of Poland, what can he be thinking now? Private-equity executives must be hoping the boss of Blackstone will keep his opinions to himself. More bad publicity is the last thing the industry needs. Other Republican presidential candidates are competing to see who can say the most damning thing about Mitt Romney’s career at Bain Capital. Newt Gingrich’s supporters have even made a sort of...
  • A Brief History of Mitt Romney’s Record of Putting Profits Ahead of People as CEO of Bain Capital

    01/28/2012 9:40:26 AM PST · by JediJones · 29 replies · 3+ views
    Romney Gekko 2012 ^ | 1/23/2012 | the job losses under Mitt Romney's Bain Capital and Americans United for Change
    Bain Capital is a classic “strip and flip” shop — a private equity firm that made its money buying businesses and sucking profit out of them by any means possible that often resulted in a stack of pink slips for everyday Americans. Romney “made fortunes by bankrupting five profitable businesses that ended up firing thousands of workers.” Here’s how it often went down. Romney’s Bain would buy a company and increase its short-term earnings through firing workers and shuttering plants in order to borrow enormous amounts of money. The borrowed money was used to pay Bain dividends, however, those businesses...