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Special report: Romney's steel skeleton in the Bain closet | Reuters
Nevertheless, Bain profited on the deal, receiving $12 million on its $8 million initial investment and at least $4.5 million in consulting fees.
Bain had both good luck and bad luck ...
The point is either way Bain (Romney) insured itself to make a profit irregardless the outcome to the enterprise.
Bain had both good luck and bad luck ...
The point is either way Bain (Romney) insured itself to make a profit irregardless the outcome to the enterprise.
So?
Deany, do you know what the FDIC is?
Deany, do you know what the FDIC is?
FDIC: Federal Deposit Insurance Corporation
The Federal Deposit Insurance Corporation (FDIC) is an independent agency of the United States (U.S.) federal government that preserves public confidence in the banking system by insuring deposits. The FDIC is headquartered in Washington, DC, with several regional offices and numerous field offices throughout the U.S. The agency is managed by a five-person Board of Directors, all of whom are appointed by the President and confirmed by the Senate, with no more than three being from the same political party.
What is Federal Deposit Insurance Corporation (FDIC)? - Definition from WhatIs.com
Forgiving millions in debt is a bail out.
Anyone else find it adorable that Rdean calls anyone indoctrinated?
It's like hearing TM call someone partisan, always puts a smile on my face.
research is your friend Rderp, you should try it.
Bain & Company - Wikipedia, the free encyclopedia
Facing financial duress, Bain Capital partner Mitt Romney was asked to rejoin and lead Bain & Co. as interim CEO. Bringing along two lieutenants from Bain Capital, Romney began a traveling campaign to rally employees at all Bain offices globally. Romney also negotiated a complex settlement between the Bain partnership and the firm's lenders, including a $10 million reduction in the $38 million Bain owed the Bank of New England,[10] which by that time had been seized by the FDIC and placed in Chapter 7 liquidation.
The Boston Globe pointed out that:
"Over several weeks, Romney managed negotiations with the banks and among the partners... The moment came when negotiations produced a package in which Bill Bain and the founding partners would give up control of the firm, turning back $30 million they had taken from the ESOP and $100 million in notes they held against the firm."
Romney’s plan involved "a complicated restructuring of the firm's stock-ownership plan, real-estate holdings, bank loans, and money still owed to partners".[11] To avoid the financial crisis that a buyout would have triggered, the group of founding partners agreed to return about $100M cash and forgive outstanding debt.[6]
looks like what actually happened is Romney got the partners to return a shitload of money.
I post this info because it's important to understand where Romney is actually coming from. Ignorant left wing turds won't bother to learn anything. They are simply too damaged from the indoctrination.
research is your friend Rderp, you should try it.
Bain & Company - Wikipedia, the free encyclopedia
Facing financial duress, Bain Capital partner Mitt Romney was asked to rejoin and lead Bain & Co. as interim CEO. Bringing along two lieutenants from Bain Capital, Romney began a traveling campaign to rally employees at all Bain offices globally. Romney also negotiated a complex settlement between the Bain partnership and the firm's lenders, including a $10 million reduction in the $38 million Bain owed the Bank of New England,[10] which by that time had been seized by the FDIC and placed in Chapter 7 liquidation.
The Boston Globe pointed out that:
"Over several weeks, Romney managed negotiations with the banks and among the partners... The moment came when negotiations produced a package in which Bill Bain and the founding partners would give up control of the firm, turning back $30 million they had taken from the ESOP and $100 million in notes they held against the firm."
Romney’s plan involved "a complicated restructuring of the firm's stock-ownership plan, real-estate holdings, bank loans, and money still owed to partners".[11] To avoid the financial crisis that a buyout would have triggered, the group of founding partners agreed to return about $100M cash and forgive outstanding debt.[6]
looks like what actually happened is Romney got the partners to return a shitload of money.
I post this info because it's important to understand where Romney is actually coming from. Ignorant left wing turds won't bother to learn anything. They are simply too damaged from the indoctrination.
a $10 million reduction - You seriously don't understand a $10 million reduction IS a "bail out"? Hilarious. And you guys call me dumb. Ya gotta love it.
Romney Attack Ad of 1994 - YouTube
Maybe he's just against government when it helps working men and women.
------------------------------------------------
Mitt didn't oppose TARP. But he did oppose saving millions of middle class jobs associated with the auto industry.
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Special report: Romney's steel skeleton in the Bain closet | Reuters
Less than a decade later, the mill was padlocked and some 750 people lost their jobs. Workers were denied the severance pay and health insurance they'd been promised, and their pension benefits were cut by as much as $400 a month.
What's more, a federal government insurance agency had to pony up $44 million to bail out the company's underfunded pension plan. Nevertheless, Bain profited on the deal, receiving $12 million on its $8 million initial investment and at least $4.5 million in consulting fees.
----------------------------------------------
When you start going through Bain companies, it seems company after company recieved some kind of Government dole. Bailouts, incentives. Who made more? Bain from the Government or the American people from Bain?
Romney Attack Ad of 1994 - YouTube
Maybe he's just against government when it helps working men and women.
------------------------------------------------
Mitt didn't oppose TARP. But he did oppose saving millions of middle class jobs associated with the auto industry.
-----------------------------------------------
Special report: Romney's steel skeleton in the Bain closet | Reuters
Less than a decade later, the mill was padlocked and some 750 people lost their jobs. Workers were denied the severance pay and health insurance they'd been promised, and their pension benefits were cut by as much as $400 a month.
What's more, a federal government insurance agency had to pony up $44 million to bail out the company's underfunded pension plan. Nevertheless, Bain profited on the deal, receiving $12 million on its $8 million initial investment and at least $4.5 million in consulting fees.
----------------------------------------------
When you start going through Bain companies, it seems company after company recieved some kind of Government dole. Bailouts, incentives. Who made more? Bain from the Government or the American people from Bain?
Deluded much?
research is your friend Rderp, you should try it.
Bain & Company - Wikipedia, the free encyclopedia
looks like what actually happened is Romney got the partners to return a shitload of money.
I post this info because it's important to understand where Romney is actually coming from. Ignorant left wing turds won't bother to learn anything. They are simply too damaged from the indoctrination.
a $10 million reduction - You seriously don't understand a $10 million reduction IS a "bail out"? Hilarious. And you guys call me dumb. Ya gotta love it.
My God, you are such an amazing dumb fuck, it boggles the mind.
- First, it was BAIN & COMPANY, not BAIN CAPITAL, get the thread title right dickstain.
- Second, Romney renegotiated the debt with the bank. Happens all the time.
- Third, Romney got Bill Bain and the founding partners to give up control of the firm, turning back $30 million they had taken from the ESOP and $100 million in notes they held against the firm
What part of you are a liar and a moron do you not understand?
