Romney in 1985: Bain's Goal to 'Harvest' Companies for Profit

[OKTexas]

Obviously, this contradicts Bishop Romney's repeated claims that they were buying companies to save them, and the jobs.

It also confirms why Bishop Romney cannot show the claimed number of American jobs saved.

How many employees do you think Staples has nation wide, plus all the people in their supply chain. That is just one of Bain's success stories.

 

[Luddly Neddite]

NEW ROMNEY VIDEO: In 1985, He Said Bain Would "Harvest" Companies for Profits | Mother Jones

http://www.youtube.com/watch?v=0EsxNYXW5i8&feature=player_embedded#t=41s

 

[Luddly Neddite]

NEW ROMNEY VIDEO: In 1985, He Said Bain Would "Harvest" Companies for Profits | Mother Jones

Be sure to check out all three videos.

 

[Luddly Neddite]

Its not just that this proves he lied about Bain but, with start up of, what?, $77MILLION, that means they all knew they were going to make untold amounts of money by "HARVESTING" their fellow Americans' jobs.

The election is over.

Oh and rw's - don't even think about saying this is the fault of "liberal media". It is the fault of Mitt himself.

 

[Luddly Neddite]

Papageorgio said in another thread that he couldn't find a job.

Why would anyone believe THIS man would be of any help?

 

[rdean]

[ame=http://www.youtube.com/watch?v=0EsxNYXW5i8&feature]Mitt Romney on Bain's plan to buy and "harvest" companies - YouTube[/ame]

goal was to identify potential and hidden value in companies, buy significant stakes in these businesses, and then "harvest them at a significant profit" within five to eight years

And he did. Romney harvested many companies.

The question is, if he becomes the president, will he and his Republican friends "harvest" this country?

 

[Synthaholic]

the ENTIRE TRANSCRIPT :

Bain Capital is an investment partnership which was formed to invest in startup companies and ongoing companies, then to take an active hand in managing them and hopefully, five to eight years later, to harvest them at a significant profit…The fund was formed on September 30th of last year.

It's been about 10 months then. It was formed with $37 million in invested cash. An additional $50 million or so of what I'll call a call pool, which is money that we can call upon if the deals are large enough that they require more than a $2 or $3 million dollar initial investment. Why in the world did Bain and Company get involved in this kind of a business? We're not particularly noted for having years and years of experience in financing. Three reasons. We recognized that we had the potential to develop a significant and proprietary flow of business opportunities. Secondly, we had concepts and experience which would allow us to identify potential value and hidden value in a particular investment candidate. And third, we had the consulting resources and management skills and management resources to become actively involved in the companies we invested in to help them realize their potential value.


and whats wrong with this? oh, fixated on the shiny object that Mother Jones told you to focus on?


they are NOT a financial company, thats right, they are a MANAGEMENT co. that there after buying a company and either successfully or not returning them to, or making them profitable, SELL them.

See, thats how they make their money you tool.... oh wait, they don't sell them, they Harvest them...

inane imbeciles, the lot of you.







here, you want to see some out year harvesting IPAB- Independent Payment Advisory Board style?



IT'S PEOPLE! - YouTube

hows that for mouth breathing idiocy that makes as little sense as Mother Jones eh?

Name ONE company that Bain harvested in which the U.S. workers ended up better off, with better wages and more job security.

And when you can't find one, come back here, man the fuck up, and admit it.

I can think of several that we have already discussed there the last time Bain was trashed, so pardon me if I don't run right out to educate you, do it yourself,.
you weren't to lazy to post this inane shit, google is your friend



Harvested, you learned a new word.

No you can't. If you "can think of several" then name one.

I know wingnuts are fond of citing Staples, but that was a FAIL for Staples employees.

Just as this question is a FAIL for you.

 

[Synthaholic]

Obviously, this contradicts Bishop Romney's repeated claims that they were buying companies to save them, and the jobs.

It also confirms why Bishop Romney cannot show the claimed number of American jobs saved.

Good god you people are painfully ignorant, capital investment companies buy and sell that's what they do,you can't sell a company for much of a profit if it is failing.

And please show how this proves anything but your willful dishonesty?

Says the poster who doesn't know how to spell 'chicken'.

 

[Synthaholic]

Mother Jones for MVP!!!!



Romney in 1985: Bain's Goal to 'Harvest' Companies for Profit

Mitt Romney said that one of the goals of his private equity firm, Bain Capital, was to acquire companies and “harvest them at a significant profit,” according to a video from 1985 uncovered by Mother Jones magazine.

The video was part of a CD-ROM from 1998 that Bain used to celebrate the 25th anniversary of the firm.

“Bain Capital is an investment partnership which was formed to invest in startup companies and ongoing companies, then to take an active hand in managing them and hopefully, five to eight years later, to harvest them at a significant profit,” he says in the video.


Mitt Romney on Bain's plan to buy and "harvest" companies - YouTube

you act like this is a bad thing, or illegal.

Venture capitalism.. look it up, dumb ass.

You buy into a company, build it into a stronger company, and sell at a profit when you've done so.

It's what makes America go.

No, I act like it's the opposite of what the Mittwit claims it was: a job creator.

Unless he meant overseas jobs.

 

[Synthaholic]

Obviously, this contradicts Bishop Romney's repeated claims that they were buying companies to save them, and the jobs.

It also confirms why Bishop Romney cannot show the claimed number of American jobs saved.

How many employees do you think Staples has nation wide, plus all the people in their supply chain. That is just one of Bain's success stories.

I knew a wingnut would bring it up!

Tell me how good paying jobs with benefits being turned into minimum wage jobs with no benefits is better for Staples employees.

 

[LogikAndReazon]

Huh, "harvest"...............Thats suppossed to be contoversial somehow to adolescent marxist schmucks..........Sort of like "profits" and "target"............

Imbeciles

 

[chikenwing]

Obviously, this contradicts Bishop Romney's repeated claims that they were buying companies to save them, and the jobs.

It also confirms why Bishop Romney cannot show the claimed number of American jobs saved.

Good god you people are painfully ignorant, capital investment companies buy and sell that's what they do,you can't sell a company for much of a profit if it is failing.

And please show how this proves anything but your willful dishonesty?

Says the poster who doesn't know how to spell 'chicken'. [/QUOTE

Bwaaa hahahaha That,s it that what you have ?

Is it or is it not what capital investment companies do??

 

[g5000]

There's not a single damning thing in that clip. I'm sure it sounds incomprehensible to the ignorant.

"Ohhhhh, he said 'harvest'. That's bad, right?"

.

 

[g5000]

You have a business idea that I think is a good one, so I provide the capital you need to get off the ground.

Sure 'nuff, your idea is wildly successful and your business takes off.

Jobs have been created, the economy has grown, the world is a better place, and I make a tidy profit.

No wonder Mother Jones thinks that sucks!

So fuck yeah, let's hope Romney does that for the whole country.


.

 

[rdean]

Obviously, this contradicts Bishop Romney's repeated claims that they were buying companies to save them, and the jobs.

It also confirms why Bishop Romney cannot show the claimed number of American jobs saved.

How many employees do you think Staples has nation wide, plus all the people in their supply chain. That is just one of Bain's success stories.

So I go looking for anonymous Staples employees and what they have to say.

Check this one out:

Back in the "old" days at staples you were rewarded for talent, loyalty and willingness to work by more hours, higher pay, and bonuses. The bonuses were the first thing to go with ever changing goals. Then they put the squeeze to the stores on how many hours. Now you will never earn a pay increase on merit, and most of the over 5 year employees have been told they are no longer eligible for even a 2% raise because they "make too much". $9.00 an hour is too much for an employee who is the highest selling sales associate in the store? You start at basically minimum wage, maybe $.40 higher if you work in the high stress copy center. I've seen those employees in tears due to the way they are stressed out.

Staples News and Happenings. - Staples Jobs | Indeed.com

------------------------------------------------------------

American Sweatshops: Widespread and Thriving; Barely Surviving the Most Stressful, Lowest-Paying Job of My Life

Here is how it works. When I told the Staples store manager that I wanted a full-time job, he informed me that initially I would have to work on a temporary, part-time basis, without any benefits. I found out later that numerous other employees at the store who had worked there from two to seven years were still in "part-time," status.

This arrangement is highly advantageous for the retailers. They minimize or avoid paying fringe benefits such as life and health insurance, retirement benefits, overtime or differential pay for Sunday work. When I told the manager that I wanted to work as many hours as possible, he told me that every employee at the store asks for that. The maximum he ever allowed me to work was 31.5 hours a week. Most often it was in the 21 to 26 hour range.

-------------------------------------------------------

MY BIGGEST COMPLAINT, HOWEVER, IS THAT STAPLES PARTICIPATES IN THE ILLEGAL PRACTICE OF KEEPING FULL-TIME EMPLOYEES ON THE PAYROLL AS "PART-TIME" IN ORDER TO AVOID BENEFIT OBLIGATIONS. Fuck you Staples.

Staples opinion - I worked at Staples and it was the worst job

------------------------------------------------------

Romney’s Retail Jobs Offer More Low Wages Than Middle Income

 

[Stephanie]

you have to feel sorry for the op..not the sharpest knife in a drawer

 

[rdean]

You have a business idea that I think is a good one, so I provide the capital you need to get off the ground.

Sure 'nuff, your idea is wildly successful and your business takes off.

Jobs have been created, the economy has grown, the world is a better place, and I make a tidy profit.

No wonder Mother Jones thinks that sucks!

So fuck yeah, let's hope Romney does that for the whole country.


.

Don't pretend you have capital you don't have.

Beside, Romney wants to invest in "immigrants with degrees". You used to be able to read about it on his website, but it seems they took that part down.

 

[chikenwing]

You have a business idea that I think is a good one, so I provide the capital you need to get off the ground.

Sure 'nuff, your idea is wildly successful and your business takes off.

Jobs have been created, the economy has grown, the world is a better place, and I make a tidy profit.

No wonder Mother Jones thinks that sucks!

So fuck yeah, let's hope Romney does that for the whole country.


.

Don't pretend you have capital you don't have.

Beside, Romney wants to invest in "immigrants with degrees". You used to be able to read about it on his website, but it seems they took that part down.

So your anti immigration? astonishing

As far as the capital comment,well it speaks for its self.

 

[Luddly Neddite]

Okay, I don't get it.

This proves that Mitt was lying when he said that most companies were saved and only a few could not be saved.

This is huge. It proves that the purpose of Bain was vulture capitalism - from the start.

No one cares about that?

 

[Luddly Neddite]

Mother Jones for MVP!!!!



Romney in 1985: Bain's Goal to 'Harvest' Companies for Profit

Mitt Romney said that one of the goals of his private equity firm, Bain Capital, was to acquire companies and “harvest them at a significant profit,” according to a video from 1985 uncovered by Mother Jones magazine.

The video was part of a CD-ROM from 1998 that Bain used to celebrate the 25th anniversary of the firm.

“Bain Capital is an investment partnership which was formed to invest in startup companies and ongoing companies, then to take an active hand in managing them and hopefully, five to eight years later, to harvest them at a significant profit,” he says in the video.


Mitt Romney on Bain's plan to buy and "harvest" companies - YouTube

the ENTIRE TRANSCRIPT :

Bain Capital is an investment partnership which was formed to invest in startup companies and ongoing companies, then to take an active hand in managing them and hopefully, five to eight years later, to harvest them at a significant profit…The fund was formed on September 30th of last year.

It's been about 10 months then. It was formed with $37 million in invested cash. An additional $50 million or so of what I'll call a call pool, which is money that we can call upon if the deals are large enough that they require more than a $2 or $3 million dollar initial investment. Why in the world did Bain and Company get involved in this kind of a business? We're not particularly noted for having years and years of experience in financing. Three reasons. We recognized that we had the potential to develop a significant and proprietary flow of business opportunities. Secondly, we had concepts and experience which would allow us to identify potential value and hidden value in a particular investment candidate. And third, we had the consulting resources and management skills and management resources to become actively involved in the companies we invested in to help them realize their potential value.


and whats wrong with this? oh, fixated on the shiny object that Mother Jones told you to focus on?


they are NOT a financial company, thats right, they are a MANAGEMENT co. that there after buying a company and either successfully or not returning them to, or making them profitable, SELL them.

See, thats how they make their money you tool.... oh wait, they don't sell them, they Harvest them...

inane imbeciles, the lot of you.







here, you want to see some out year harvesting IPAB- Independent Payment Advisory Board style?



[ame=http://www.youtube.com/watch?v=8Sp-VFBbjpE]IT'S PEOPLE! - YouTube[/ame]

hows that for mouth breathing idiocy that makes as little sense as Mother Jones eh?

Name ONE company that Bain harvested in which the U.S. workers ended up better off, with better wages and more job security.

And when you can't find one, come back here, man the fuck up, and admit it.

Don't hold your breath.

The rw's are so desperate, they can twist themselves around anything Mitt says.