Listening
Gold Member
- Aug 27, 2011
- 14,989
- 1,650
- 260
Bain Capital 'purchased' KB Toys for the respectable price of $ 305 million dollars on December 8, 2000.
Bain Capital only offered $ 18 million in cash, the rest was leaveraged debt put on the company.
Sixteen months after the buyout, Bain Capital paid itself $85 million in dividends in early 2002.
January 14, 2004, K·B Toys filed for Chapter 11 bankruptcy protection and closed 365 stores.
Three years later the rest of the 156 stores were closed down.
KB Toys - Wikipedia, the free encyclopedia
Oh goody....another GST story.
Ask yourself this Chris (if you have the brains to think about it).
Why would anyone sell the company to Bain for 18 million and loan against the rest of the assets ?
Who wanted out that bad and why ?
Check it out.
Additionally, Romney was out of Bain in 1999.
This is just another example of a zealot like Chissy needing to spread misinformation so he can defend his soon to be dumped lover in chief.
Okay, a couple thing here. Just because the Monster was still ravaging the countryside after Dr. Frankenstein had nothing to do with it, doesn't make the Mad Doctor less responsble.
The fact is, this is what Bain and their ilk did. They put in a little seed money, looted companies for all their assets and left other people holding the bag. Employees, investors, etc.
This is the business expertise you guys like- "Vampire" Capitalists.
Horsecrap.
They put plenty of companies on the map and saved many companies.
You just can't get past your bigotry.
The group that raided KB is being sued...as near as I can tell, Romney has not been named.
Try again.