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Old Jul 23, 2012, 12:31 PM
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College Park, MD
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Bain Capital privatized gains, and socialized losses

Who knew that Mitt Romney was a socialist?

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Whatís clear from a review of the public record during his management of the private-equity firm Bain Capital from 1985 to 1999 is that Romney was fabulously successful in generating high returns for its investors. He did so, in large part, through heavy use of tax-deductible debt, usually to finance outsized dividends for the firmís partners and investors. When some of the investments went bad, workers and creditors felt most of the pain. Romney privatized the gains and socialized the losses.
http://www.bloomberg.com/news/2012-0...ed-losses.html
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Old Jul 23, 2012, 12:33 PM
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how is that any different than what GM, Chrystler and the Financial market did? You didn't seem all that bothered by it then, why are you all hot and bothered by it now?
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Old Jul 23, 2012, 12:36 PM
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GM and Chrysler aren't running for president on their job creating prowess. Would you elect the former CEO of GM president based upon his record?
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Old Jul 23, 2012, 01:04 PM
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GM and Chrysler aren't running for president on their job creating prowess. Would you elect the former CEO of GM president based upon his record?
If they had a record for delivering awesome cars that people actually wanted to buy ... then yeah, I'd consider them.
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Old Jul 23, 2012, 01:05 PM
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Who knew that Mitt Romney was a socialist?



http://www.bloomberg.com/news/2012-0...ed-losses.html
I'm liking him more and more. He is a very smart business man who uses all of the tools given to him. He sounds like a solid leader.
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Old Jul 23, 2012, 01:08 PM
It's 5 O'clock Somewhere
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GM and Chrysler aren't running for president on their job creating prowess. Would you elect the former CEO of GM president based upon his record?
Writing off loses is a common business practice and is 100% legal. That on the otherhand has nothing to do with him being a job creator. If anything it shows he was smart. If they couldn't write off all of those losses they probably would've had to fire people or not hire as many to make up for the hit to the bottom line. It looks like his smart use of finances created and saved jobs. I would've thought you would be happy with that.
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Old Jul 23, 2012, 01:08 PM
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GM and Chrysler aren't running for president on their job creating prowess. Would you elect the former CEO of GM president based upon his record?
But the person who championed socializing their losses with taxpayer dollars is...
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Old Jul 23, 2012, 01:18 PM
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Romney is just the guy the country needs right now. Obama is the guy the country needs in 500 years when the oil is gone and China is running the world.
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Old Jul 23, 2012, 04:01 PM
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If they had a record for delivering awesome cars that people actually wanted to buy ... then yeah, I'd consider them.
Even if that involved running the comany down to the point where they had to socialize the losses? Interesting. What problem do you have with Obama, then, since he socialized GM's losses, and now they are doing better than ever? Oh, wait, Obama didn't actually build those cars, right?
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Old Jul 23, 2012, 04:03 PM
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Romney is just the guy the country needs right now. Obama is the guy the country needs in 500 years when the oil is gone and China is running the world.
Romney would be just the guy to elect if you want to ensure that happening.
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Old Jul 23, 2012, 04:04 PM
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Even if that involved running the comany down to the point where they had to socialize the losses? Interesting. What problem do you have with Obama, then, since he socialized GM's losses, and now they are doing better than ever? Oh, wiat, Obama didn;t actually build those cars, right?
GM's stocks would say otherwise.

How many Volts sold?

If being down 33% in a year is your definition of "Better than ever" I'd hate to see what you'd consider "average".
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Old Jul 23, 2012, 04:07 PM
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But the person who championed socializing their losses with taxpayer dollars is...

The GM execs themselves. Romney should be proud.

http://www.reuters.com/article/2008/...4AD08120081118
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Old Jul 23, 2012, 04:13 PM
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GM's stocks would say otherwise.

How many Volts sold?

If being down 33% in a year is your definition of "Better than ever" I'd hate to see what you'd consider "average".
Stocks... GM had it's best year ever in 2011.

Quote:
General Motors earned a record $7.6 billion profit last year, the highest profit in the company’s 103-year history. It sold 640,000 more cars and trucks in 2011 than it did in 2010 and took in a total of $105 billion.
http://abcnews.go.com/blogs/business...illion-profit/

This thread is about Bain Captial. I wonder why the right is so determined to make it about something else?
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Old Jul 23, 2012, 05:47 PM
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-----This thread is about Bain Captial. I wonder why the right is so determined to make it about something else?
I think your first post started it.
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Old Jul 23, 2012, 06:18 PM
Build/Fly/Crash/Repeat
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Originally Posted by RumRunner_1492 View Post
I'm liking him more and more. He is a very smart business man who uses all of the tools given to him. He sounds like a solid leader.
Hmmmmm - is he?

Still "like" him? Of course you do...... .
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