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Its all about weak or underperforming companies, you cant separate it! Try and slice and dice it anyway you like, theres plenty of data showing they did far more good than bad.
Not only did Bain Capital save America, but no matter what turn Mitt Romney’s political career takes, Bain Capital may stand as the best of Mr. Romney’s lifetime contributions to the nation’s economic well-being. If only he’d tell the story.
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Properly understood, the 1980s, including Bain, were the remarkable years when an ever-resilient America found a way to save itself from becoming what Europe is now—a global has-been.
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Read through S&P’s justification for last week’s downgrades of nine European countries. Along with the expected dumping on those countries’ fiscal profligacy, one finds as well a blunt recognition of Europe’s moribund “fundamentals,” meaning their ability to produce “strong and consistent” economic growth. If not for Bain Capital and the other, bigger players who commenced a decade of leveraged buyouts and hostile takeovers in the 1980s, the odds are that the U.S.’s “fundamentals” would be similarly weak. Instead, the U.S. corporate sector remade itself during the Bain years.
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Thousands of Mitt Romneys allied with huge pension funds representing colleges, unions and the like, plus a rising cadre of institutional money managers, to force corporate America to reboot. In the 1980s almost half of major U.S. corporations got takeover offers. Singling out this or that Bain case study amid the jostling and bumping is pointless. This was a historic and necessary cleansing of the Augean stables of the American economy. It caused a positive revolution in U.S. management, financial analysis, incentives, governance and market-based discipline. It led directly to the 1990s boom years. And it gave the U.S. two decades of breathing room while Europe, with some exceptions, choked.
In a comprehensive 2001 re-examination of the buyouts and takeovers of the 1980s, economists Bengt Holmstrom of MIT and the University of Chicago's Steven Kaplan made clear (as have others) that the results were far from the stereotype of zero-sum pillage revived last week by economic historian Newt Gingrich and un-Texan Gov. Rick Perry ("vulture capitalism"), and sure to be promoted in grainy, tear-soaked campaign ads by the Obama team. "When large-scale hostile takeovers appeared in the 1980s," Messrs. Holmstrom and Kaplan write, "many voiced the opinion that they were driven by investor greed; the robber barons of Wall Street had returned to raid innocent corporations. Today, it is widely accepted that the takeovers of the 1980s had a beneficial effect on the corporate sector and that efficiency gains, rather than redistributions from stakeholders to shareholders, explain why they appeared."
That's not data -- that's an opinion piece from the notoriously biased WSJ opinion page. Furthermore it doesn't even make sense, since it conflates the U.S. corporate sector with the EU government sector, as if this comparison has anything at all to do with Bain.
Well this is a contest and each side will throw stuff against the wall and see what will stick.
Doesn't hurt Romeny and may not hurt the one throwing it either.
Makes me wonder, is Obama's brother still living on $20 a year or did Obama double the income to $40?
Most Americans outside of those who frequent boards like this or hang around the talk shows have never heard of Bain. The portrait of Romney as an uncaring wall street lackey has just begun to be painted. It will be a devasting approach. Romney does not come across as a nice guy. He will be turned into a monster by Obama's billions. Obama prevail and America will be spared the spectre of the right wingers who have taken over the Republican party.
" Romney does not come across as a nice guy."
Well, that is certainly your opinion which you are entitled to, however IMO, you are part of a very small minority.
That's not data -- that's an opinion piece from the notoriously biased WSJ opinion page. Furthermore it doesn't even make sense, since it conflates the U.S. corporate sector with the EU government sector, as if this comparison has anything at all to do with Bain.
You asked for his data. I ask you for yours. You claim of being unethical is just your opinion.
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the Bain attacks not working so well....
