Bain Capital, A net plus or negative for Mitt?

Discussion in 'Politics' started by Grampa Murked U, Jan 12, 2012.

  1. Grampa Murked U
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    Grampa Murked U Diamond Member

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    From Romneys website:

    In 1984, Romney started the venture capital firm Bain Capital, LLC. (4),(5)

    At Bain Capital, Romney helped start new companies and turned around failing ones. He was behind the start up of Staples. Starting with one store in 1986, Staples now is the world's largest office products company with $24 billion in sales in 2009. (4),(6) He also helped companies such as Sealy, Brookstone, The Sports Authority, and Domino's. (4)

    Michael Rees, writer for "The Journal of the American Enterprise Institute", observed the following about Romney's business success,

    "During the 14 years Romney headed Bain Capital, the firm's average annual internal rate of return on realized investments was a staggering 113 percent. At that growth rate, a hypothetical $1,000 investment would grow to $39.6 million before fees. Few, if any, VC firms have ever matched Bain Capital's performance under Mitt Romney."(4)

    In 1991, Romney went back to Bain & Company as the C.E.O. to rescue the failing company. He convinced all partners to give him unilateral authority and restructured the company with an emphasis on transparency while maintaining focus on clients. After a year, the company returned to profitability and Romney returned to Bain Capital.(4),(7)

    Mitt Romney | Setting the Record Straight


    In my opinion its a net plus. Mitt, unlike Obama, clearly has experience in what does and doesn't work when trying to revive a failing business (ie our economy)
     
  2. JakeStarkey
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    JakeStarkey Diamond Member Supporting Member

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    I believe it will be a negative but not a major issue.
     
  3. eflatminor
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    eflatminor Classical Liberal

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    To anyone that understands Capitalism, it's a positive because it shows he understands it. The extent to which he advocates crony capitalism, and he does, is another subject but having run Bain is good thing for any non-socialist leaning voters I'd say.
     
  4. Grampa Murked U
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    Grampa Murked U Diamond Member

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    It very well could be. I believe it will hinge on how he handles it.

    He needs to focus on it head on and explain the business clearly. Diffuse it before the general.
     
  5. Grampa Murked U
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    Grampa Murked U Diamond Member

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    No one cares to opine?
     
  6. imbalance
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    imbalance Silver Member

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    It's a total net plus by far as evidence of how to successfully restructure underperforming operations. Eliminating waste and poor decision making is always a necessity.
     
  7. Zander
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    Zander Platinum Member

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    What Mitt and Bain engaged in is called "Capitalism". If you think engaging in Capitalism is wrong, there is a lovely "worker's paradise" just 90 miles off the coast of Florida. It's called Cuba and they will accept you with open arms. Free healthcare too!!
     
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  8. Amelia
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    Amelia BANNED

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    ^^^^

    agree.

    It SHOULD be a positive. I think it probably will be a net positive. It depends on how well he explains things.
     
  9. jillian
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    jillian Princess Supporting Member

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    I don't think Bain Capital is ultimately going to matter at all...
     
  10. ABikerSailor
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    ABikerSailor Platinum Member

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    Bain capital ended up killing around 15,000 jobs.

    How many people did the companies that were restructured but not closed hire?

    If they didn't hire more than 15,000 to cover the jobs they killed, then Romney isn't a job creator.
     

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