Mitt Romney: The Great Deformer

[Dick Tuck]

Stockman goes case by case showing how Romney used leveraged buyouts, saddled the companies with unsustainable debt, and then letting them go broke.

Mitt Romney: The Great Deformer

Is Romney really a job creator? Ronald Reagan’s budget director, David Stockman, takes a scalpel to the claims.

 

[Listening]

David Stockman !

ROTFLMAO

David Stockman - Wikipedia, the free encyclopedia

Business career

Having left government, Stockman joined the Wall St. investment bank Salomon Brothers and later became a partner of the now very successful New York–based private equity company, the Blackstone Group.[11] His record was mixed at Blackstone, with some very good investments, such as American Axle, but also several large failures, including Haynes International and Republic Technologies.[12] During 1999, after Blackstone CEO Stephen A. Schwarzman curtailed Stockman's role in managing the investments he had developed,[13] Stockman resigned Blackstone to start his own private equity fund company, Heartland Industrial Partners, L.P., based in Greenwich, Connecticut.[14]

On the strength of his investment record at Blackstone, Stockman and his partners raised $1.3 billion of equity from institutional and other investors. With Stockman's guidance, Heartland used a contrarian investment strategy, buying controlling interests in companies operating in sectors of the U.S. economy that were attracting the least amount of new equity: auto parts and textiles. With the help of about $9 billion in Wall Street debt financing, Heartland completed more than 20 transactions in less than 2 years to create four portfolio companies: Springs Industries, Metaldyne, Collins & Aikman, and TriMas. Several major investments performed very poorly, however. Collins & Aikman filed for bankruptcy during 2005 and when Heartland sold Metaldyne to Asahi Tec Corp. during 2006, Heartland lost most of the $340 million-plus of equity it had invested in the business.[15]
[edit]Collins & Aikman Corp.

During August 2003, Stockman installed himself as CEO of Collins & Aikman Corporation, a Detroit-based manufacturer of automotive interior components. He was ousted from that job days before a Chapter 11 filing on May 17, 2005.

[Criminal and civil charges
On March 26, 2007, federal prosecutors in Manhattan indicted Stockman in "a scheme ... to defraud [Collins & Aikman]'s investors, banks and creditors by manipulating C&A's reported revenues and earnings." At the same time, the Securities and Exchange Commission brought civil charges against Stockman related to actions he performed while CEO of Collins & Aikman.[16] Stockman suffered a personal financial loss, estimated at $13 million, along with losses suffered by as many as 15,000 Collins & Aikman employees worldwide. Stockman said in a statement posted on his law company's website that the company's end was the consequence of an industry decline, not fraud.[17] On January 9, 2009, the U.S. Attorney's Office announced that it did not intend to prosecute Stockman for this case.

 

[Stephanie]

poor dicky

 

[Listening]

poor dicky

He's just jealous because he couldn't scam his way into money while Romney made his legitimately.

 

[Nole]

Romney was born into money..... This is common knowledge.

 

[Listening]

Romney was born into money..... This is common knowledge.

And he made a lot more.

What was your point.

This is about David Hackman, the almost convict, somehow being a legitimate critic of Romney.

 

[Dick Tuck]

Romney was born into money..... This is common knowledge.

And he made a lot more.

What was your point.

This is about David Hackman, the almost convict, somehow being a legitimate critic of Romney.

So you can't dispute any of Stockman's facts, so you attack Stockman. Typical wingnut reaction, and a lazy debate style.

 

[Listening]

Romney was born into money..... This is common knowledge.

And he made a lot more.

What was your point.

This is about David Hackman, the almost convict, somehow being a legitimate critic of Romney.

So you can't dispute any of Stockman's facts, so you attack Stockman. Typical wingnut reaction, and a lazy debate style.

Why don't you bring forth his arguments so we can debate them. Just posting an article and saying "Here, read this...." is where the laziness starts. We are not going to do your dirty work for you, asswipe.

I read the article await you claims. Let's see it...Suck.

 

[Avatar4321]

Romney was born into money..... This is common knowledge.

It may be common but it's still a lie.

His family wasnt wealthy when he was born. His Father made his fortune after he was born. Which was then donated to charity.

 

[buckeye45_73]

Stockman goes case by case showing how Romney used leveraged buyouts, saddled the companies with unsustainable debt, and then letting them go broke.

Mitt Romney: The Great Deformer

Is Romney really a job creator? Ronald Reagan’s budget director, David Stockman, takes a scalpel to the claims.

Ok, Dick Suck, so tell me the business people that do it right. Romney is not nearly what you say...but go ahead...what businesses do it right?

 

[Charles_Main]

Romney was born into money..... This is common knowledge.

He then gave the Vast majority of what he inherited away and made another fortune on his own.

This is also Common knowledge among those who care about all the facts, and not just the ones they want to see.

 

[Listening]

There is no doubt Romney profited from he changes and upheaval of the 80's and 90's. But there are plenty of success stories and sincere tries to make things work.

GST would have gone under long before it eventually did had Bain not shown up.

 

[Stephanie]

Are all lefties such economic and business idiots as the OP?

 

[jtpr312]

You have a problem with Capitalism move your sorry ass down to Cuba, we ain't buying that crap here.

 

[Listening]

Romney was born into money..... This is common knowledge.

And he made a lot more.

What was your point.

This is about David Hackman, the almost convict, somehow being a legitimate critic of Romney.

So you can't dispute any of Stockman's facts, so you attack Stockman. Typical wingnut reaction, and a lazy debate style.

Hey Suck, you gonna bring forth the parts of Hackman's argument you want to debate.

I read the article and Stockman uses a lot of arbitrary judgements.

Let's see it DICK.

 

[Soggy in NOLA]

Dick Schmuck has lost it... totally lost it.

 

[SniperFire]

Obama spent half a billion trying to paint Romney as a blood sucking monster.

Romney destroyed that meme in the first debate, and will continue to demonstrate what a good man he is again tonight.

You think Libtards would give this up now that USS Owebama has hit the iceberg with it.

But NOOOOOOOOOOOOOOOOOOOOOO

LOL

 

[Conservative]

David Stockman !

ROTFLMAO

David Stockman - Wikipedia, the free encyclopedia

Business career

Having left government, Stockman joined the Wall St. investment bank Salomon Brothers and later became a partner of the now very successful New York–based private equity company, the Blackstone Group.[11] His record was mixed at Blackstone, with some very good investments, such as American Axle, but also several large failures, including Haynes International and Republic Technologies.[12] During 1999, after Blackstone CEO Stephen A. Schwarzman curtailed Stockman's role in managing the investments he had developed,[13] Stockman resigned Blackstone to start his own private equity fund company, Heartland Industrial Partners, L.P., based in Greenwich, Connecticut.[14]

On the strength of his investment record at Blackstone, Stockman and his partners raised $1.3 billion of equity from institutional and other investors. With Stockman's guidance, Heartland used a contrarian investment strategy, buying controlling interests in companies operating in sectors of the U.S. economy that were attracting the least amount of new equity: auto parts and textiles. With the help of about $9 billion in Wall Street debt financing, Heartland completed more than 20 transactions in less than 2 years to create four portfolio companies: Springs Industries, Metaldyne, Collins & Aikman, and TriMas. Several major investments performed very poorly, however. Collins & Aikman filed for bankruptcy during 2005 and when Heartland sold Metaldyne to Asahi Tec Corp. during 2006, Heartland lost most of the $340 million-plus of equity it had invested in the business.[15]
[edit]Collins & Aikman Corp.

During August 2003, Stockman installed himself as CEO of Collins & Aikman Corporation, a Detroit-based manufacturer of automotive interior components. He was ousted from that job days before a Chapter 11 filing on May 17, 2005.

[Criminal and civil charges
On March 26, 2007, federal prosecutors in Manhattan indicted Stockman in "a scheme ... to defraud [Collins & Aikman]'s investors, banks and creditors by manipulating C&A's reported revenues and earnings." At the same time, the Securities and Exchange Commission brought civil charges against Stockman related to actions he performed while CEO of Collins & Aikman.[16] Stockman suffered a personal financial loss, estimated at $13 million, along with losses suffered by as many as 15,000 Collins & Aikman employees worldwide. Stockman said in a statement posted on his law company's website that the company's end was the consequence of an industry decline, not fraud.[17] On January 9, 2009, the U.S. Attorney's Office announced that it did not intend to prosecute Stockman for this case.

that's about the caliber of Dickless Fucks heroes, and exactly who I would expect him to revere... libtard fuckups.

 

[Conservative]

Stockman goes case by case showing how Romney used leveraged buyouts, saddled the companies with unsustainable debt, and then letting them go broke.

Mitt Romney: The Great Deformer

Is Romney really a job creator? Ronald Reagan’s budget director, David Stockman, takes a scalpel to the claims.

turn your rep back on, pussy!

 

[Conservative]

Romney was born into money..... This is common knowledge.

And he made a lot more.

What was your point.

This is about David Hackman, the almost convict, somehow being a legitimate critic of Romney.

So you can't dispute any of Stockman's facts, so you attack Stockman. Typical wingnut reaction, and a lazy debate style.

An apt analogy to your OP would be...

'murder is bad...' Charles Manson