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so far as these businesses that Bain built. Not one of them does much more than provide entry level wages for their employees. . . . .and a variety of "junk" to their customers. . . . .
There may be a valid place for this in our society, but I don't think I would brag about it. . . . .like the business that Bain destroyed, all "profit" flows immediatly to the top. . . . .leaving thousands "scraping by" or worse.
So what? Is it better to have people unemployed, or working lower wage jobs so that others more experienced and qualified could take other jobs?
so far as these businesses that Bain built. Not one of them does much more than provide entry level wages for their employees. . . . .and a variety of "junk" to their customers. . . . .
There may be a valid place for this in our society, but I don't think I would brag about it. . . . .like the business that Bain destroyed, all "profit" flows immediatly to the top. . . . .leaving thousands "scraping by" or worse.
Your right, those jobs do not pay much, this country is much better off not having any lower wage jobs. Am I right, do I have your stance down fairly?
By the way my mother just retired from a retail store where she was a store co-manager, the hated Walmart, she made over $100,000 a year for the last 10 years she worked there, but many liberals love to attack that company.
A friend of mine works at a staples warehouse, he makes $60,000 a year, I bet he sure wishes Romney and Bain Capital would have kept to themselves and not built that company.
I also know a guy who owns 3 dominoes franchises, he lives in a million dollar home and his wife drives a BMW, but without Bain saving the company I am sure he could have found a way to make some money.
Your right, those jobs do not pay much, this country is much better off not having any lower wage jobs. Am I right, do I have your stance down fairly?
By the way my mother just retired from a retail store where she was a store co-manager, the hated Walmart, she made over $100,000 a year for the last 10 years she worked there, but many liberals love to attack that company.
A friend of mine works at a staples warehouse, he makes $60,000 a year, I bet he sure wishes Romney and Bain Capital would have kept to themselves and not built that company.
I also know a guy who owns 3 dominoes franchises, he lives in a million dollar home and his wife drives a BMW, but without Bain saving the company I am sure he could have found a way to make some money.
Liberals think people are entitled to start at pay like that.
Why is is wrong to buy, improve, and sell houses and lots to make money but bad to do the same thing with businesses?
Buying a distressed property, improving it, and selling it for a profit affects very few people - and when it does, affects them in a positive way.
Breaking up companies, destroying pensions, eliminating jobs throwing people unto unemployment negatively affects the community in which it operates - and people. It is destructive.
But, of course, people don't matter do they? It's all about the profits.
Buying a distressed property, improving it, and selling it for a profit affects very few people - and when it does, affects them in a positive way.
Breaking up companies, destroying pensions, eliminating jobs throwing people unto unemployment negatively affects the community in which it operates - and people. It is destructive.
But, of course, people don't matter do they? It's all about the profits.
Yes, you are so true. And i would like to mention that Obama did mention that in the debate.
Quote:
PRESIDENT OBAMA: Candy, what Governor Romney said just isn't true. He wanted to take them into bankruptcy without providing them any way to stay open, and we would have lost a million jobs.
And that — don't take my word for it; take the executives at GM and Chrysler, some of whom are Republicans, may even support Governor Romney. But they'll tell you his prescription wasn't going to work.
And Governor Romney says he's got a five-point plan. Governor Romney doesn't have a five-point plan; he has a one-point plan. And that plan is to make sure that folks at the top play by a different set of rules. That's been his philosophy in the private sector; that's been his philosophy as governor; that's been his philosophy as a presidential candidate. You can make a lot of money and pay lower tax rates than somebody who makes a lot less. You can ship jobs overseas and get tax breaks for it. You can invest in a company, bankrupt it, lay off the workers, strip away their pensions, and you still make money.
Why is is wrong to buy, improve, and sell houses and lots to make money but bad to do the same thing with businesses?
I am someone who does this. It is along the lines of the same thing. People don't seem to understand that in both cases someones failure already happened and wasn't caused by the one purchasing what is now a mess and taking a risk.
He did not buy and "improve" businesses. . . . .he bought and destroyed them. . . . .for profit!
Wrong. A risk was taken in buying failing businesses. The risk is that Bain is betting enough of them can be saved to make a profit for Bain and make it worthwhile to the stock holders. Can't save the whole world.
so far as these businesses that Bain built. Not one of them does much more than provide entry level wages for their employees. . . . .and a variety of "junk" to their customers. . . . .
There may be a valid place for this in our society, but I don't think I would brag about it. . . . .like the business that Bain destroyed, all "profit" flows immediatly to the top. . . . .leaving thousands "scraping by" or worse.
Nothing wrong with entry level. Most don't get to start at the top.
I am someone who does this. It is along the lines of the same thing. People don't seem to understand that in both cases someones failure already happened and wasn't caused by the one purchasing what is now a mess and taking a risk.
What you do is GOOD. You are adding value to a distressed property. Then, you make money on it by reselling. THAT IS GOOD. What is NOT GOOD is... buying a well to do house, taking 2nd, 3rd , 4th mortgage on it.. Instead of improving the house, you suck up that money and spend it on yourself and then WALK AWAY from that house.
You think that is GOOD? That is what Bain did in lot of cases..
Quote:
Bankruptcy Filing
Dade was left in a weakened financial condition and couldn’t withstand the shocks of increased debt payments when interest rates rose and revenue from Europe fell because of a decline in the value of the euro. The company filed for bankruptcy in August 2002, because of its inability to service a $1.5 billion debt load. About 1,700 people lost their jobs while Bain Capital claimed capital gains (net of its losses in the bankruptcy) of roughly $216 million, an eightfold return
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