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

[strollingbones]

CNN) – The left-leaning publication that posted the secretly-recorded videos of Mitt Romney that included his controversial "47%" comments is online with a new, older video where the GOP candidate describes a mission to "harvest" small businesses while at Bain Capital, the private equity firm he founded.

Mother Jones posted video taken in 1985 of Romney describing how the his firm was formed and the company's goal to buy stakes in start-up businesses, manage them for between five and eight years and then "harvest them at a significant profit."

Romney’s profit ‘harvest’ in latest video from Mother Jones – CNN Political Ticker - CNN.com Blogs

i know yall hate mother jones but the video is real lol.....and i dont think small businesses will be better off harvested ...do you?

 

[kwc57]

In other words, make them more successful and profitable. How scandalous!

 

[Zander]

I guess the secret is out now....Bain was doing it for the money!!

OMFG!!!! They wanted to make a , gasp, .........A PROFIT!!!!!!


Of course everyone knows that Mother Jones, MSNBC, Utne Reader, DailyKos, et. cal, all do their work for free! Nobody takes a salary, there is no profit, and they have no agenda except peace, love, and understanding.

 

[Synthaholic]

In other words, make them more successful and profitable. How scandalous!

You keep talking out your ass, yet you poop no truth.

None of you wingnuts can give us any examples.

 

[Synthaholic]

I guess the secret is out now....Bain was doing it for the money!!

OMFG!!!! They wanted to make a , gasp, .........A PROFIT!!!!!!


Of course everyone knows that Mother Jones, MSNBC, Utne Reader, DailyKos, et. cal, all do their work for free! Nobody takes a salary, there is no profit, and they have no agenda except peace, love, and understanding.

You're one of the few establishment, old school, Money=God Republicans on this site, and I don't see you as a social conservative wingnut.

So maybe you can give us some examples of Mittens acquiring a company, and making it grow while making their American workers better off?

 

[Trajan]

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

And here we go again:



September 25, 2012, 8:49 AM

Staples Plans Restructuring and Store Closings, But No Word of Sale

Great job, Mittens! You left them strong and profitable!

12 yeas since he was at Bain, great job

 

[Trajan]

I guess the secret is out now....Bain was doing it for the money!!

OMFG!!!! They wanted to make a , gasp, .........A PROFIT!!!!!!


Of course everyone knows that Mother Jones, MSNBC, Utne Reader, DailyKos, et. cal, all do their work for free! Nobody takes a salary, there is no profit, and they have no agenda except peace, love, and understanding.

You're one of the few establishment, old school, Money=God Republicans on this site, and I don't see you as a social conservative wingnut.

So maybe you can give us some examples of Mittens acquiring a company, and making it grow while making their American workers better off?

you've already mentioned one you twit.

 

[freedombecki]

I guess the secret is out now....Bain was doing it for the money!!

OMFG!!!! They wanted to make a , gasp, .........A PROFIT!!!!!!

Of course everyone knows that Mother Jones, MSNBC, Utne Reader, DailyKos, et. cal, all do their work for free! Nobody takes a salary, there is no profit, and they have no agenda except peace, love, and understanding.

You're one of the few establishment, old school, Money=God Republicans on this site, and I don't see you as a social conservative wingnut.

So maybe you can give us some examples of Mittens acquiring a company, and making it grow while making their American workers better off?

Retail is risky, Synthaholic. Many times the owner of a small retail outlet takes nothing home, washes the lavatory rooms at night after employees leave. No profits mean no soup for you. If the chain outlet is losing money, the stores are generally closed. About 40% of all income is not inventory recovery in retail. You have to pay employees, replace theft items, constantly insure bins of popular item are ready for a busy day, then, you have to wait for the busy day, if it ever comes! That would be when you runa an ad and have say, cash register tapes and ink blotters on at 70% off for smart shoppers, and it's a full moon.

If people want better money than a sales job, those high-overhead outfits are good temporary fixes, you just need to get your rear in gear and find out what people are buying, then hope it's a high-end item you can sell dozens a day on commission. Retail is a hard, hard way to make a buck.

Why are you guys eating Staples' liver tonight?

You trying to make somebody's hard living go out of business? All that can possibly happen is inconveniencing about 500 small towns who only have a Staples to buy office products from anymore to purchase office items locally.

Find something more worthy of time in your life, why don't you.

Otherwise, the boogey man is gonna get ya.

 

[Synthaholic]

I guess the secret is out now....Bain was doing it for the money!!

OMFG!!!! They wanted to make a , gasp, .........A PROFIT!!!!!!


Of course everyone knows that Mother Jones, MSNBC, Utne Reader, DailyKos, et. cal, all do their work for free! Nobody takes a salary, there is no profit, and they have no agenda except peace, love, and understanding.

You're one of the few establishment, old school, Money=God Republicans on this site, and I don't see you as a social conservative wingnut.

So maybe you can give us some examples of Mittens acquiring a company, and making it grow while making their American workers better off?

you've already mentioned one you twit.

Which one? Staples? Bullshit. They turned Staples into a minimum wage job where you aren't allowed to get enough hours to qualify for full time, and have any benefits kick in.

You really are a dumb shit.

 

[Synthaholic]

I guess the secret is out now....Bain was doing it for the money!!

OMFG!!!! They wanted to make a , gasp, .........A PROFIT!!!!!!

Of course everyone knows that Mother Jones, MSNBC, Utne Reader, DailyKos, et. cal, all do their work for free! Nobody takes a salary, there is no profit, and they have no agenda except peace, love, and understanding.

You're one of the few establishment, old school, Money=God Republicans on this site, and I don't see you as a social conservative wingnut.

So maybe you can give us some examples of Mittens acquiring a company, and making it grow while making their American workers better off?

Retail is risky, Synthaholic. Many times the owner of a small retail outlet takes nothing home, washes the lavatory rooms at night after employees leave. No profits mean no soup for you. If the chain outlet is losing money, the stores are generally closed. About 40% of all income is not inventory recovery in retail. You have to pay employees, replace theft items, constantly insure bins of popular item are ready for a busy day, then, you have to wait for the busy day, if it ever comes! That would be when you runa an ad and have say, cash register tapes and ink blotters on at 70% off for smart shoppers, and it's a full moon.

If people want better money than a sales job, those high-overhead outfits are good temporary fixes, you just need to get your rear in gear and find out what people are buying, then hope it's a high-end item you can sell dozens a day on commission. Retail is a hard, hard way to make a buck.

Why are you guys eating Staples' liver tonight?

You trying to make somebody's hard living go out of business? All that can possibly happen is inconveniencing about 500 small towns who only have a Staples to buy office products from anymore to purchase office items locally.

Find something more worthy of time in your life, why don't you.

Otherwise, the boogey man is gonna get ya.

I'm not the one pointing to Staples as some great success story, Becki - you guys are.

So give me some other examples. Mittwit was head of Bain for 20 years. He must have had other 'successes' besides Staples. Name some!

I won't hold my breath.

 

[Zander]

I guess the secret is out now....Bain was doing it for the money!!

OMFG!!!! They wanted to make a , gasp, .........A PROFIT!!!!!!


Of course everyone knows that Mother Jones, MSNBC, Utne Reader, DailyKos, et. cal, all do their work for free! Nobody takes a salary, there is no profit, and they have no agenda except peace, love, and understanding.

You're one of the few establishment, old school, Money=God Republicans on this site, and I don't see you as a social conservative wingnut.

So maybe you can give us some examples of Mittens acquiring a company, and making it grow while making their American workers better off?

I don't care if he made the workers better off. He made money for himself and his investors. That was the goal. If you want Altruism, practice it yourself....

 

[Truthmatters]

I guess the secret is out now....Bain was doing it for the money!!

OMFG!!!! They wanted to make a , gasp, .........A PROFIT!!!!!!


Of course everyone knows that Mother Jones, MSNBC, Utne Reader, DailyKos, et. cal, all do their work for free! Nobody takes a salary, there is no profit, and they have no agenda except peace, love, and understanding.

You're one of the few establishment, old school, Money=God Republicans on this site, and I don't see you as a social conservative wingnut.

So maybe you can give us some examples of Mittens acquiring a company, and making it grow while making their American workers better off?

I don't care if he made the workers better off. He made money for himself and his investors. That was the goal. If you want Altruism, practice it yourself....

And people like this guy robmoney will never be elected president.


Get it

 

[Truthmatters]

The American people dont want to elect profit whores to run the country.

 

[Truthmatters]

Why is it we HONOR so our Miltary heros?


is it because they chose profit over everything?


Nope its because they sacraficed for the greater good.



why do you love them too?

 

[Truthmatters]

robmoney is morally lacking.

He chose profit over everything else.


He was pro war and refused to serve.


Not one son of his has served.


His family does not honor sacrafice.


His family honors profit.

 

[Zander]

robmoney is morally lacking.

He chose profit over everything else.


He was pro war and refused to serve.


Not one son of his has served.


His family does not honor sacrafice.


His family honors profit.

You're so stupid it actually hurts.

Romney and his family donate more time and money in one day than scumbags like you and Joe Biden do in an year.

FAIL

 

[kwc57]

"Oh....sweet Jesus!"

This has already been debunked.......but you knew that.

 

[Synthaholic]

Is Guitar Center, the music store we all love to hate, going broke? It looks that way, according to a number of news stories in The Nation, Reuters, Huffington Post, and a wonderful post by Eric Garland.


As many of you already know, GC was purchased by Bain Capital (formerly owned by Mitt Romney) six years ago, and it's been downhill ever since.

GC has a number of problems, not all of its making. One is that it carries a huge amount of debt as a result of the Bain deal, currently owing over $1.18 billion (yes, that's with a b). That's a lot of interest it's paying on the debt service (just think of what you pay on your credit card every month), plus it seems to have a $953 million(!!) balloon payment coming up in 2017 that's really going to stretch the company's finances to its limits.


Bobby Owsinski's Big Picture Music Production Blog: Is Guitar Center Broke?

 

[Synthaholic]

It appears that Ares Management, who owns the majority of Bain Capitol's (the owner of GC) debt, is in discussions to convert the debt into equity by taking over the majority of the company.

Talk about sending shudders through the industry, this is going to change the landscape of music retail, for better or worse.

Ares wants their money, so watch as they squeeze GC by making it leaner and meaner than ever, all at the expense of the customer. If you think doing business with them now is hard, just wait until this comes down. Fewer sales people that turn over even more frequently, less stock on hand, only the latest products and no deep inventory - that's what you can expect. It'll be the way it is now, only worse, if you can imagine.

And expect to see some of your favorite small manufactures either struggle or go out of business, as GC cuts its inventory and SKU's even more. For all those companies depending upon GC for a good chunk of their business, times are about to get a lot tougher.

And we may be seeing the beginning of the end of GC, at least as we know it. Ares could just decide it wants as much money as it can get right now and liquidate it.


Bobby Owsinski's Big Picture Music Production Blog: The Beginning Of The End As Guitar Center To Be Acquired

 

[bedowin62]

idiot; companies exist to make a profit; and they hire your mommy and daddy.


oh by the way; they are making record profits too in obama's 6th year

so much for that whole "MAKE THEM PAY!!" thingy huh leftard?