Warren Buffet has liquidated companies too, just like Bain.

[Conservative]

excerpt from the 1985 Berkshire Hathaway Shareholder letter where he describes the shutdown of the textile operations...

T&T Capital Management: 1985 Berkshire Hathaway textiles versus 2011 Sears Holdings

Further diversification for Berkshire followed, and gradually the textile operation’s depressing effect on our overall return diminished as the business became a progressively
smaller portion of the corporation.

Though 1979 was moderately profitable, the business thereafter consumed major
amounts of cash. By mid-1985 it became clear, even to me, that this condition was almost sure to continue. Could we have found a buyer who would continue operations, I would have certainly preferred to sell the business rather than liquidate it, even if that meant somewhat lower proceeds for us. But the economics that were finally obvious to me were also obvious to others, and interest was nil.

I won’t close down businesses of sub-normal profitability merely to add a fraction of a point to our corporate rate of return. However, I also feel it inappropriate for even an exceptionally profitable company to fund an operation once it appears to have unending losses in prospect.

Trying to achieve sustainable profitability, they reworked product lines, machinery
configurations and distribution arrangements. We also made a major acquisition, Waumbec Mills, with the expectation of important synergy (a term widely used in business to explain an acquisition that otherwise makes no sense). But in the end nothing worked and I should be faulted for not quitting sooner.

Thus, we faced a miserable choice: huge capital investment would have helped to keep our textile business alive, but would have left us with terrible returns on ever-growing amounts of capital. After the investment, moreover, the foreign competition
would still have retained a major, continuing advantage in labor costs. A refusal to invest, however, would make us increasingly non-competitive, even measured against domestic textile manufacturers.

My conclusion from my own experiences and from much observation of other businesses is that a good managerial record (measured by economic returns) is far more a function of what business boat you get into than it is of how effectively you row
(though intelligence and effort help considerably, of course, in any business, good or bad). Some years ago I wrote: “When a management with a reputation for brilliance tackles a business with a reputation for poor fundamental economics, it is the reputation of the business that remains intact.” Nothing has since changed my point of view on that matter. Should you find yourself in a chronically-leaking boat, energy devoted to changing vessels is likely to be more productive than energy devoted to patching leaks.

Sounds exactly like what Bain Capital does. If it works and is profitable, it stays. If it doesn't work and is not profitable, it goes.

Of course, Warren Buffet isn't running against Barack Obama, so he's not an evil, greedy, leech. Right, libtards???

 

[RightWingFerret]

the rats dont want to talk about the 95% sucsess Romney had in Baines Capitol. So typical of rats,,,just look up the one company out of 350 that went under and Blame Romney for it!! even though he left Baine 2 years ago.

 

[gallantwarrior]

Warren Buffet has paid millions into the Dem's "war chests", and even more into the obamafunddrive. What did Bain Capital ever do for Dem's?

 

[uscitizen]

Of course Buffet has. He is a corporatist as well.
Do not be divided by the good corporatist/bad corporatist game. It is just that a diversionary game.

 

[Lakhota]

Bain Capital Explained By Tony Soprano (VIDEO)

 

[NYcarbineer]

I won't vote for him then. Happy now?

 

[Dick Tuck]

excerpt from the 1985 Berkshire Hathaway Shareholder letter where he describes the shutdown of the textile operations...

T&T Capital Management: 1985 Berkshire Hathaway textiles versus 2011 Sears Holdings

Further diversification for Berkshire followed, and gradually the textile operation’s depressing effect on our overall return diminished as the business became a progressively
smaller portion of the corporation.

Though 1979 was moderately profitable, the business thereafter consumed major
amounts of cash. By mid-1985 it became clear, even to me, that this condition was almost sure to continue. Could we have found a buyer who would continue operations, I would have certainly preferred to sell the business rather than liquidate it, even if that meant somewhat lower proceeds for us. But the economics that were finally obvious to me were also obvious to others, and interest was nil.

Thus, we faced a miserable choice: huge capital investment would have helped to keep our textile business alive, but would have left us with terrible returns on ever-growing amounts of capital. After the investment, moreover, the foreign competition
would still have retained a major, continuing advantage in labor costs. A refusal to invest, however, would make us increasingly non-competitive, even measured against domestic textile manufacturers.

My conclusion from my own experiences and from much observation of other businesses is that a good managerial record (measured by economic returns) is far more a function of what business boat you get into than it is of how effectively you row
(though intelligence and effort help considerably, of course, in any business, good or bad). Some years ago I wrote: “When a management with a reputation for brilliance tackles a business with a reputation for poor fundamental economics, it is the reputation of the business that remains intact.” Nothing has since changed my point of view on that matter. Should you find yourself in a chronically-leaking boat, energy devoted to changing vessels is likely to be more productive than energy devoted to patching leaks.

Sounds exactly like what Bain Capital does. If it works and is profitable, it stays. If it doesn't work and is not profitable, it goes.

Of course, Warren Buffet isn't running against Barack Obama, so he's not an evil, greedy, leech. Right, libtards???

What he didn't do is saddle the company with unsustainable debt, rape the loans for Berkshire, and put the company in a position that it couldn't survive. Any cases where he underfunded their workers pension plans?

 

[LeftofLeft]

Bain Capital Explained By Tony Soprano (VIDEO)

Irrelevant.

 

[RightWingFerret]

Obama just hates it when White People make a profit,,,if Romney was a black democrat, he would be prasing him just like when he praises chicken,ribs and dogs.

 

[LeftofLeft]

excerpt from the 1985 Berkshire Hathaway Shareholder letter where he describes the shutdown of the textile operations...

T&T Capital Management: 1985 Berkshire Hathaway textiles versus 2011 Sears Holdings

Further diversification for Berkshire followed, and gradually the textile operation’s depressing effect on our overall return diminished as the business became a progressively
smaller portion of the corporation.

Though 1979 was moderately profitable, the business thereafter consumed major
amounts of cash. By mid-1985 it became clear, even to me, that this condition was almost sure to continue. Could we have found a buyer who would continue operations, I would have certainly preferred to sell the business rather than liquidate it, even if that meant somewhat lower proceeds for us. But the economics that were finally obvious to me were also obvious to others, and interest was nil.

Thus, we faced a miserable choice: huge capital investment would have helped to keep our textile business alive, but would have left us with terrible returns on ever-growing amounts of capital. After the investment, moreover, the foreign competition
would still have retained a major, continuing advantage in labor costs. A refusal to invest, however, would make us increasingly non-competitive, even measured against domestic textile manufacturers.

My conclusion from my own experiences and from much observation of other businesses is that a good managerial record (measured by economic returns) is far more a function of what business boat you get into than it is of how effectively you row
(though intelligence and effort help considerably, of course, in any business, good or bad). Some years ago I wrote: “When a management with a reputation for brilliance tackles a business with a reputation for poor fundamental economics, it is the reputation of the business that remains intact.” Nothing has since changed my point of view on that matter. Should you find yourself in a chronically-leaking boat, energy devoted to changing vessels is likely to be more productive than energy devoted to patching leaks.

Sounds exactly like what Bain Capital does. If it works and is profitable, it stays. If it doesn't work and is not profitable, it goes.

Of course, Warren Buffet isn't running against Barack Obama, so he's not an evil, greedy, leech. Right, libtards???

Government Motors made the same painful decision as Bain Capital by shutting down under-performing GM dealerships throughout the country. What is the difference? .....especially you Liberals who celebrate the "General Motors is still alive" ?
Did you ever thing about the mechanics, office managers, and salespeople who lost their livelihood so that The Union could be saved?

 

[Dick Tuck]

Obama just hates it when White People make a profit,,,if Romney was a black democrat, he would be prasing him just like when he praises chicken,ribs and dogs.

Racist trash monkey. Go put on your pointy headed suit.

 

[Dick Tuck]

excerpt from the 1985 Berkshire Hathaway Shareholder letter where he describes the shutdown of the textile operations...

T&T Capital Management: 1985 Berkshire Hathaway textiles versus 2011 Sears Holdings

Further diversification for Berkshire followed, and gradually the textile operation’s depressing effect on our overall return diminished as the business became a progressively
smaller portion of the corporation.

My conclusion from my own experiences and from much observation of other businesses is that a good managerial record (measured by economic returns) is far more a function of what business boat you get into than it is of how effectively you row
(though intelligence and effort help considerably, of course, in any business, good or bad). Some years ago I wrote: “When a management with a reputation for brilliance tackles a business with a reputation for poor fundamental economics, it is the reputation of the business that remains intact.” Nothing has since changed my point of view on that matter. Should you find yourself in a chronically-leaking boat, energy devoted to changing vessels is likely to be more productive than energy devoted to patching leaks.

Sounds exactly like what Bain Capital does. If it works and is profitable, it stays. If it doesn't work and is not profitable, it goes.

Of course, Warren Buffet isn't running against Barack Obama, so he's not an evil, greedy, leech. Right, libtards???

Government Motors made the same painful decision as Bain Capital by shutting down under-performing GM dealerships throughout the country. What is the difference? .....especially you Liberals who celebrate the "General Motors is still alive" ?
Did you ever thing about the mechanics, office managers, and salespeople who lost their livelihood so that The Union could be saved?

Did GM saddle them with unsustainable debt? Did GM underfund their pension plans?

 

[Salt Jones]

the rats dont want to talk about the 95% sucsess Romney had in Baines Capitol. So typical of rats,,,just look up the one company out of 350 that went under and Blame Romney for it!! even though he left Baine 2 years ago.

Really? Let's fact check your post.

"Only the deals that occurred during the Romney tenure should matter. He had a 78% success rate, which is slightly better than the almost 0% success rate of the Obama environmental gambling spree."

Mitt Romney and Bain Capital--What liberals still do not grasp | Washington Times Communities

"The Wall Street Journal, aiming for a comprehensive assessment, examined 77 businesses Bain invested in while Mr. Romney led the firm from its 1984 start until early 1999"

Romney at Bain Capital: Big Gains, Some Busts - WSJ.com


If you lie about the simple stuff, what do you do on the complex questions.

Study your topic.

 

[LeftofLeft]

Obama just hates it when White People make a profit,,,if Romney was a black democrat, he would be prasing him just like when he praises chicken,ribs and dogs.

Racist trash monkey. Go put on your pointy headed suit.

Way to bring your gun to the knife fight! Although you might want to re-consider calling one a "monkey". In many circles, that is construed as racist.

 

[Peach]

I won't vote for him then. Happy now?

Me neither; though Bain is only a tiny part of Romney; he was born rich, and did make money on his own.

 

[Conservative]

excerpt from the 1985 Berkshire Hathaway Shareholder letter where he describes the shutdown of the textile operations...

T&T Capital Management: 1985 Berkshire Hathaway textiles versus 2011 Sears Holdings

Further diversification for Berkshire followed, and gradually the textile operation’s depressing effect on our overall return diminished as the business became a progressively
smaller portion of the corporation.

My conclusion from my own experiences and from much observation of other businesses is that a good managerial record (measured by economic returns) is far more a function of what business boat you get into than it is of how effectively you row
(though intelligence and effort help considerably, of course, in any business, good or bad). Some years ago I wrote: “When a management with a reputation for brilliance tackles a business with a reputation for poor fundamental economics, it is the reputation of the business that remains intact.” Nothing has since changed my point of view on that matter. Should you find yourself in a chronically-leaking boat, energy devoted to changing vessels is likely to be more productive than energy devoted to patching leaks.

Sounds exactly like what Bain Capital does. If it works and is profitable, it stays. If it doesn't work and is not profitable, it goes.

Of course, Warren Buffet isn't running against Barack Obama, so he's not an evil, greedy, leech. Right, libtards???

What he didn't do is saddle the company with unsustainable debt, rape the loans for Berkshire, and put the company in a position that it couldn't survive. Any cases where he underfunded their workers pension plans?

funny, I know it's odd, but as many times as you tell those lies, they don't suddenly become true.

you need new talking points, you Holocaust Denying piss-ant.