Romney Operated Often on the Margins

Discussion in 'Politics' started by courseofhistory, Aug 21, 2012.

  1. courseofhistory
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    courseofhistory BANNED

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    ...of ethics and the law.

    Once upon a time there was a little airline named Key. In the vast destert of Nevada the Charming Prince Romney of Bain Capital purchased this little distressed airline financed soley through debt. Prince Romney was a 5% stock holder and a director. Key airlines pilots and others were concerned with safety shortcuts and low salaries and wanted to form a union to address these issues. Management said, "oh, no." (our personal profits would decrease tremendously).

    There followed an unlawful attempt by Mr Andrews and Key management, in the words of District Court judge Roger Foley, “to stamp out any cockpit crew members’ union before it could come into being”.

    Bottom line is that later that year Mr Goodwin and Mr Schlang sued their former employer for violation of labor laws and in 1992 the court found Key management at fault and awarded the pilots $500,000 of punitive damages.

    SEC records show that Mr Romney was a director of Key Airlines when the company was finally sold. Mr Romney’s campaign declined to comment on this or other financial questions about the Key investment.

    Tsk, tsk, Prince Romney. More people you screwed in order to help you attain your wealth! On the backs of the little guys!

    [​IMG]

    LINK
     
    Last edited: Aug 21, 2012
  2. CrusaderFrank
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    CrusaderFrank Diamond Member

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    Bain operated at a 25% margin
     
  3. courseofhistory
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    courseofhistory BANNED

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    Romney operated often on the backs of the little guy to enrich himself as in the example in the OP.
     
  4. edthecynic
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    edthecynic Censored for Cynicism

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    which fully justifies violating all labor laws. :cuckoo:

    It is always amazing how easy it is for the Right to rationalize anything!
     
  5. Full-Auto
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    Full-Auto Gold Member

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    :lmao: Such the drama queen........


    Does anyone take this emotional drivel seriously?
     
  6. Soggy in NOLA
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    Soggy in NOLA Platinum Member

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    :lol:

    Whatever... you fucks smell of complete desperation.
     
  7. naturegirl
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    naturegirl Silver Member

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    Makes you wonder what would have happened to the little airline financed soley by debt if Bain didn't buy in??
     
  8. Toro
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    Toro Diamond Member

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    How do you buy it solely through the debt and be a shareholder? You can't buy it solely with debt and be a 5% shareholder. Did they buy the debt through the bankruptcy process or do you understand how this works? And if they bought it through the bankruptcy process, the union contracts were probably the reason why the airline was in bankruptcy to begin with. That's common with airlines in bankruptcy.
     
  9. courseofhistory
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    courseofhistory BANNED

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    It would have gone under (which it did eventually after Romney and co. sucked it dry). But the point is that this is how veture capitalists operate and what they do is SOLELY for their and their investors enrichment. It is a pattern with Romney. A bad one.
     
  10. courseofhistory
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    courseofhistory BANNED

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    Romney held $100,000 in debt. It wasn't unionized at that point but the pilots wanted to unionize because of shortcuts to safety andlow salaries.
     

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