Only 17.5 percent of the companies Mitt Romney invested in with Bain went bankrupt. (interviews, statistics)

[70Ford]

During his tenure as CEO from 1984 to 1999, Bain invested in 40 companies in the U.S. While seven later went bankrupt, in June the New York Times reported that "In some instances, hundreds of employees lost their jobs. In most of those cases, however, records and interviews suggest that Bain and its executives still found a way to make money."

How Uncle Sam Helped Mitt Romney Build His Fortune | Crooks and Liars

[earthlyfather]

No, the figure of 17.5% is about on trend over the past 20/30 years. Even the progressive darling, Poncahontas Warren agrees, in a study she cdo-authored. Here are a couple of quotes from the article about her reserach.

"Whenever I write about business bankruptcies, I have to go back to this paper by Robert Lawless and Elizabeth Warren. Published in the California Law Review in 2005, it’s called “The Myth of the Disappearing Business Bankruptcy.”"

"They go on to document how the recording process at bankruptcy courts undercounts business filings. In short, the ambiguous cover sheets on bankruptcy petitions (and software for electronic filing) led to the court stats systematically counting business-related bankruptcies as consumer filings. Lawless and Warren contrast the official numbers to records on business failures kept by Dun & Bradstreet and the SBA, as well as their own independent survey of bankruptcy filers. Their conclusion: the true number of business-related filings is probably closer to 15% or 16%, not the official 2.3%."

Behind the Business Bankruptcy Statistics - BusinessWeek

[70Ford]

Glad he hed the US government to help him build that.

[dixiegirl7]

That is actually and unbelievably good record in that type of business. The businesses they usually invest in are nearing or already in some sort of restructuring process. Some are not able to be turned around, turing about over 80% is remarkable.