Class Warfare a Bust:Gallup 75% of voters don't care Romeny's rich

[flacaltenn]

Is Bain an example of venture capital or private equity, aka, leveraged buy-out capitalism? The former tend to nurture promising new companies while the latter tend to purchase existing companies with the goal of increasing profitability by stripping assets, including jobs, while adding a substantial leverage component to the capital structure.

For leverage...read debt as in using other people's instead of your own.

Say what you will about the rampant greed on display in the NFL, the players and coaches compete on a level playing field where it doesn't matter the size of your contract when it comes to regulators' decisions. That's the exact opposite of crony capitalists like Romney or their hack political enablers like Obama.

What the hell are you talking about? I didn't say a WORD about greed in the NFL. That's your sorry-leftist-ass interpretation. You love arguing with yourself..

Private Equity INCLUDES Venture Capital. What isn't new and exciting and something the investors can direct from the beginning goes to Private Equity.. They get all the walking wounded, the hardship cases, and the retarded. Venture gets all the glorious "world-changing" ideas.

For P.E. -- If a glamour makeover is not possible, then surgery is scheduled. And someone's gotta do it. Nothing worse than the pain and suffering of an enterprise that's barely making it.
Occasionally -- it produces a film star or a beauty contestant. Usually, it gets the best price for the assets that mean something or makes a match with a wise elderly mate that can care for it.

Unless you believe that jobs will be saved by a miracle or "spontaneous remission" of bad management -- you can't accuse the P.E. folks of CAUSING the problems in the first place (like Toro said).

Important point is -- for most folks -- this is all intuitive and part of the "cycle of life". For the Obama camp, it's fodder for the ignorant and those who have natural anti-free-market tendencies..

 

[georgephillip]

Bain started as a growth equity firm, which means funding fast growing businesses beyond the venture stage. This is how Romney became rich. Bain later moved into buyouts.

FTR, the empirical evidence is that buyout firms do not have any greater negative effect than any other typical owner.

Is Bain an example of venture capital or private equity, aka, leveraged buy-out capitalism? The former tend to nurture promising new companies while the latter tend to purchase existing companies with the goal of increasing profitability by stripping assets, including jobs, while adding a substantial leverage component to the capital structure.

For leverage...read debt as in using other people's instead of your own.

Say what you will about the rampant greed on display in the NFL, the players and coaches compete on a level playing field where it doesn't matter the size of your contract when it comes to regulators' decisions. That's the exact opposite of crony capitalists like Romney or their hack political enablers like Obama.

Private equity takes out loans to purchase companies and then puts that debt on the companies' balance sheets. Assets, including jobs, are stripped as quickly as possible to extract value. Do you happen to know how many net US jobs Bain produced during Romney's tenure? Should he reveal as many tax returns as his father did?

 

[Ava]

Whoooooooooo hoooooooooo! All that effort to malign Romney for being successful has freaking failed.

Check it out especially the independents. Somewhere tonight Axelrod is crying.


Gallup: Majority Say Romney’s Wealth Won’t Affect Their Vote

Thursday, 12 Jul 2012 09:59 AM

By Newsmax Wires


An overwhelming majority of voters – 75 percent – say that Mitt Romney’s $200 million net worth makes no difference in their choice between him and President Barack Obama, according to a new Gallup poll.

Meanwhile, 20 percent of voters say Romney’s wealth makes them less likely to vote for him, and 4 percent say it makes them more likely to vote for him.

Breaking it down by party affiliation, among Republicans, 89 percent say Romney’s riches make no difference, 8 percent say they are a reason to vote for him, and 4 percent say they are a reason to vote against him. Among Democrats, 62 percent don’t care about Romney’s wealth, 37 percent say it’s a negative factor, and 1 percent say it’s positive.

The sentiment of independents may be most important, as they are likely to decide the election’s outcome. In this demographic 76 are indifferent to Romney’s wealth, 19 percent say it makes them less likely to vote for him, and 4 percent say it makes them more likely to vote for him.

Read more on Newsmax.com: Gallup: Majority Say Romney’s Wealth Won’t Affect Their Vote

 

[The T]

Whoooooooooo hoooooooooo! All that effort to malign Romney for being successful has freaking failed.

Check it out especially the independents. Somewhere tonight Axelrod is crying.


Gallup: Majority Say Romney’s Wealth Won’t Affect Their Vote

Thursday, 12 Jul 2012 09:59 AM

By Newsmax Wires


An overwhelming majority of voters – 75 percent – say that Mitt Romney’s $200 million net worth makes no difference in their choice between him and President Barack Obama, according to a new Gallup poll.

Meanwhile, 20 percent of voters say Romney’s wealth makes them less likely to vote for him, and 4 percent say it makes them more likely to vote for him.

Breaking it down by party affiliation, among Republicans, 89 percent say Romney’s riches make no difference, 8 percent say they are a reason to vote for him, and 4 percent say they are a reason to vote against him. Among Democrats, 62 percent don’t care about Romney’s wealth, 37 percent say it’s a negative factor, and 1 percent say it’s positive.

The sentiment of independents may be most important, as they are likely to decide the election’s outcome. In this demographic 76 are indifferent to Romney’s wealth, 19 percent say it makes them less likely to vote for him, and 4 percent say it makes them more likely to vote for him.

Read more on Newsmax.com: Gallup: Majority Say Romney’s Wealth Won’t Affect Their Vote

Axelrod looks ALOT like HITLER doesn't he?

 

[georgephillip]

Is Bain an example of venture capital or private equity, aka, leveraged buy-out capitalism? The former tend to nurture promising new companies while the latter tend to purchase existing companies with the goal of increasing profitability by stripping assets, including jobs, while adding a substantial leverage component to the capital structure.

For leverage...read debt as in using other people's instead of your own.

Say what you will about the rampant greed on display in the NFL, the players and coaches compete on a level playing field where it doesn't matter the size of your contract when it comes to regulators' decisions. That's the exact opposite of crony capitalists like Romney or their hack political enablers like Obama.

What the hell are you talking about? I didn't say a WORD about greed in the NFL. That's your sorry-leftist-ass interpretation. You love arguing with yourself..

Private Equity INCLUDES Venture Capital. What isn't new and exciting and something the investors can direct from the beginning goes to Private Equity.. They get all the walking wounded, the hardship cases, and the retarded. Venture gets all the glorious "world-changing" ideas.

For P.E. -- If a glamour makeover is not possible, then surgery is scheduled. And someone's gotta do it. Nothing worse than the pain and suffering of an enterprise that's barely making it.
Occasionally -- it produces a film star or a beauty contestant. Usually, it gets the best price for the assets that mean something or makes a match with a wise elderly mate that can care for it.

Unless you believe that jobs will be saved by a miracle or "spontaneous remission" of bad management -- you can't accuse the P.E. folks of CAUSING the problems in the first place (like Toro said).

Important point is -- for most folks -- this is all intuitive and part of the "cycle of life". For the Obama camp, it's fodder for the ignorant and those who have natural anti-free-market tendencies..

Private equity is primarily a rebranded version of what were called leveraged buyout shops (LBO) in the 1980s before they got a bad name (Michael Milken) Classically, LBOs take over a company by contributing a small amount of equity and borrowing a lot of (other people's) money.

While some retarded righties think PE qualifies as an exemplar of free market capitalism, private equity depends on government subsidies for its profits in the form of tax loopholes like carried interest and uncapped deductibility of corporate debt.

Only those serving as fodder in the cycle of life of state-capitalist societies like the US and China deny the pain and suffering inflicted on productive society by vulture capitalists like Milken and Romney.

 

[HomeInspect]

The rich guy...

He was an unpaid volunteer campaign worker for his dad's gubernatorial campaign 1 year.

He was an unpaid intern in his dad's governor's office for eight years.

He was an unpaid bishop and state president of his church for ten years.

He was an unpaid President of the Salt Lake Olympic Committee for three years.

He took no salary and was the unpaid Governor of Massachusetts for four years.

He gave his entire inheritance from his father to charity.

Mitt Romney is one of the wealthiest self-made men in our country but has given more back to its citizens in terms of money, service and time than most men.

And in 2011 Mitt Romney gave over $4 million to charity, almost 19% of his income...Just for comparison purposes:
Obama gave 1% and
Joe Biden gave $300 or .0013%.

 

[Cecilie1200]

"Mitt Romney's political foes are stepping up attacks based on his time running investment firm Bain Capital, tagging him with making a fortune from the rougher side of American capitalism—even as Mr. Romney says his Bain tenure shows he knows how to build businesses.

"Amid anecdotal evidence on both sides, the full record has largely escaped a close look, because so many transactions are involved. 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, to see how they fared during Bain's involvement and shortly afterward.

"Among the findings: 22% either filed for bankruptcy reorganization or closed their doors by the end of the eighth year after Bain first invested, sometimes with substantial job losses. An additional 8% ran into so much trouble that all of the money Bain invested was lost.

"Another finding was that Bain produced stellar returns for its investors—yet the bulk of these came from just a small number of its investments. Ten deals produced more than 70% of the dollar gains.

"Some of those companies, too, later ran into trouble. Of the 10 businesses on which Bain investors scored their biggest gains, four later landed in bankruptcy court."

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

Maybe the number we should be looking for is how many new US jobs Romney produced while he was at Bain. We know he's good for investors; maybe not so good for workers.

Because Bain Capital only has investors, no employees? Or . . . no, wait, I've got it! The companies that Bain Capital invested in and saved from bankruptcy had no employees! THAT'S how he's only good for investors, not workers, right?

Mitt's good for investors because, unlike his father who got rich from producing things people wanted, Mitt got even richer by financial engineering which cost thousands of US workers their jobs.

I don't know if Bain Capital's financial engineering produced a net gain in US jobs or not.
Do you?

I do know there's at least one other big difference between Mitt and his father and that's their willingness to release relevant tax returns.

George Romney released twelve years of returns.
Mitt seems to think he's too special.
Would you care more if Mitt was running as a Democrat?

As a matter of fact, I DO know. The real question is, if YOU don't know, why the fuck are you in here talking like you do?

I don't really give a damn who else is "willing" to do what. That in no way obligates Mitt Romney to do the same, nor entitles YOU to it.

And no, unlike you, I don't feel entitled to other people's private financial information, nor do I change my moral standards according to what suits me at the moment. That's apparently your schtick.

 

[georgephillip]

Why would anyone with any discernible moral standards suck up to a vacillating Reagan clone who inflated his personal fortune to $200 million by transforming red ink and massive layoffs into windfall profits for himself and his fellow parasites?

Oh, wait...you don't actually have any discernible moral standards, do you?

If you did you might feel obligated to judge the morality of Bain Capital's penchant for making most of its money through leveraged buy-outs, investing only a small amount of its own capital when purchasing a company, then heaping mountains of debt onto the company's books. Naturally compliant Republicans AND Democrats manufacture tax policy that allows the parasites to prosper regardless of whether the company fails or not.

I guess worshiping the ground that shit like Romney splats on is your schtick?

 

[flacaltenn]

Why would anyone with any discernible moral standards suck up to a vacillating Reagan clone who inflated his personal fortune to $200 million by transforming red ink and massive layoffs into windfall profits for himself and his fellow parasites?

Oh, wait...you don't actually have any discernible moral standards, do you?

If you did you might feel obligated to judge the morality of Bain Capital's penchant for making most of its money through leveraged buy-outs, investing only a small amount of its own capital when purchasing a company, then heaping mountains of debt onto the company's books. Naturally compliant Republicans AND Democrats manufacture tax policy that allows the parasites to prosper regardless of whether the company fails or not.

I guess worshiping the ground that shit like Romney splats on is your schtick?

You have no idea what happens when businesses need to be reorganized and refocused do you?

Clear case of parroting Daily Kos and loving the hate...

Scapegoating of ANY kind makes me crazy mad..

 

[Toro]

PE firms are quicker to restructure underperforming businesses but are quicker at expanding businesses after the restructuring.

Bain started as a growth equity firm, which means funding fast growing businesses beyond the venture stage. This is how Romney became rich. Bain later moved into buyouts.

FTR, the empirical evidence is that buyout firms do not have any greater negative effect than any other typical owner.

Is Bain an example of venture capital or private equity, aka, leveraged buy-out capitalism? The former tend to nurture promising new companies while the latter tend to purchase existing companies with the goal of increasing profitability by stripping assets, including jobs, while adding a substantial leverage component to the capital structure.

For leverage...read debt as in using other people's instead of your own.

Say what you will about the rampant greed on display in the NFL, the players and coaches compete on a level playing field where it doesn't matter the size of your contract when it comes to regulators' decisions. That's the exact opposite of crony capitalists like Romney or their hack political enablers like Obama.

Private equity takes out loans to purchase companies and then puts that debt on the companies' balance sheets. Assets, including jobs, are stripped as quickly as possible to extract value. Do you happen to know how many net US jobs Bain produced during Romney's tenure? Should he reveal as many tax returns as his father did?

 

[hortysir]

PE firms are quicker to restructure underperforming businesses but are quicker at expanding businesses after the restructuring.

Bain started as a growth equity firm, which means funding fast growing businesses beyond the venture stage. This is how Romney became rich. Bain later moved into buyouts.

FTR, the empirical evidence is that buyout firms do not have any greater negative effect than any other typical owner.

Private equity takes out loans to purchase companies and then puts that debt on the companies' balance sheets. Assets, including jobs, are stripped as quickly as possible to extract value. Do you happen to know how many net US jobs Bain produced during Romney's tenure? Should he reveal as many tax returns as his father did?

The Lemmings have been told to focus on the lay-offs and closings.

ThinkProgress and MotherJones doesn't spend any time telling them about the 5,6,8, or 10 years these companies managed to stay open longer than they would have without the investment firm's money and direction.
Or that sometimes, no matter how much money you throw at a company, they still fail.

 

[Toro]

Most of Romney's fortune came from funding fast growing firms. Most of the "parasites" aka "clients" are pension funds, endowments & foundations - ie universities, charities, hospitals, etc.- and insurance companies.

Why would anyone with any discernible moral standards suck up to a vacillating Reagan clone who inflated his personal fortune to $200 million by transforming red ink and massive layoffs into windfall profits for himself and his fellow parasites?

Oh, wait...you don't actually have any discernible moral standards, do you?

If you did you might feel obligated to judge the morality of Bain Capital's penchant for making most of its money through leveraged buy-outs, investing only a small amount of its own capital when purchasing a company, then heaping mountains of debt onto the company's books. Naturally compliant Republicans AND Democrats manufacture tax policy that allows the parasites to prosper regardless of whether the company fails or not.

I guess worshiping the ground that shit like Romney splats on is your schtick?

 

[Cecilie1200]

PE firms are quicker to restructure underperforming businesses but are quicker at expanding businesses after the restructuring.

Private equity takes out loans to purchase companies and then puts that debt on the companies' balance sheets. Assets, including jobs, are stripped as quickly as possible to extract value. Do you happen to know how many net US jobs Bain produced during Romney's tenure? Should he reveal as many tax returns as his father did?

The Lemmings have been told to focus on the lay-offs and closings.

ThinkProgress and MotherJones doesn't spend any time telling them about the 5,6,8, or 10 years these companies managed to stay open longer than they would have without the investment firm's money and direction.
Or that sometimes, no matter how much money you throw at a company, they still fail.

Particularly when, as Bain Capital did for many years, you focus heavily on trying to help businesses that are in serious financial trouble.

It's like blaming an oncologist who specializes in advanced, virulent tumors because so many of his patients die of cancer.

 

[georgephillip]

The rich guy...

He was an unpaid volunteer campaign worker for his dad's gubernatorial campaign 1 year.

He was an unpaid intern in his dad's governor's office for eight years.

He was an unpaid bishop and state president of his church for ten years.

He was an unpaid President of the Salt Lake Olympic Committee for three years.

He took no salary and was the unpaid Governor of Massachusetts for four years.

He gave his entire inheritance from his father to charity.

Mitt Romney is one of the wealthiest self-made men in our country but has given more back to its citizens in terms of money, service and time than most men.

And in 2011 Mitt Romney gave over $4 million to charity, almost 19% of his income...Just for comparison purposes:
Obama gave 1% and
Joe Biden gave $300 or .0013%.

Just over half of Mitt's 2010 giving went to his church which demands 10% of its members to remain in good standing. The rest went to Tyler Foundation, a 501(c3) nonprofit funded exclusively by the Romneys. If he's such a paragon of philanthropy, why isn't he revealing all of his tax returns? Too many millions hiding in Switzerland, maybe?

 

[BDBoop]

It was never an issue of his "Wealth".

It's an issue of how he got his wealth and how he used it to screw working people.

And when people hear about the sleazy actions of Bane, they generally are less inclined to like Romney.

He looks like the guy who laid off your dad.

Looks are deceiving.

How did Mitt get his wealth?

He earned it.

How did Obama get his?????

This is one of those stupid things that really annoys me.

Romney didn't "earn it". He found the way to control the division of spoils to his own benefit.

He wasn't producing value to the products he sold. He just gamed the system. He no more earned it than a crooked accountant earned it when he skimmed off the till.

 

[georgephillip]

Why would anyone with any discernible moral standards suck up to a vacillating Reagan clone who inflated his personal fortune to $200 million by transforming red ink and massive layoffs into windfall profits for himself and his fellow parasites?

Oh, wait...you don't actually have any discernible moral standards, do you?

If you did you might feel obligated to judge the morality of Bain Capital's penchant for making most of its money through leveraged buy-outs, investing only a small amount of its own capital when purchasing a company, then heaping mountains of debt onto the company's books. Naturally compliant Republicans AND Democrats manufacture tax policy that allows the parasites to prosper regardless of whether the company fails or not.

I guess worshiping the ground that shit like Romney splats on is your schtick?

You have no idea what happens when businesses need to be reorganized and refocused do you?

Clear case of parroting Daily Kos and loving the hate...

Scapegoating of ANY kind makes me crazy mad..

Maybe you should learn Mandarin and move in with your Chinese Masters?

Before the door hits your fat ass, tell us how Bain "reorganized and refocused" GS Steel by putting up very little of their own money, borrowing the rest, and then paying themselves back with borrowed money while levering the company up to $500 million in debt and throwing thousands of workers into the unemployment lines with pensions that required taxpayer support.

Ask the Chinese Money Guy for your next talking points, Polly.

 

[Toro]

Why would anyone with any discernible moral standards suck up to a vacillating Reagan clone who inflated his personal fortune to $200 million by transforming red ink and massive layoffs into windfall profits for himself and his fellow parasites?

Oh, wait...you don't actually have any discernible moral standards, do you?

If you did you might feel obligated to judge the morality of Bain Capital's penchant for making most of its money through leveraged buy-outs, investing only a small amount of its own capital when purchasing a company, then heaping mountains of debt onto the company's books. Naturally compliant Republicans AND Democrats manufacture tax policy that allows the parasites to prosper regardless of whether the company fails or not.

I guess worshiping the ground that shit like Romney splats on is your schtick?

You have no idea what happens when businesses need to be reorganized and refocused do you?

Clear case of parroting Daily Kos and loving the hate...

Scapegoating of ANY kind makes me crazy mad..

Maybe you should learn Mandarin and move in with your Chinese Masters?

Before the door hits your fat ass, tell us how Bain "reorganized and refocused" GS Steel by putting up very little of their own money, borrowing the rest, and then paying themselves back with borrowed money while levering the company up to $500 million in debt and throwing thousands of workers into the unemployment lines with pensions that required taxpayer support.

Ask the Chinese Money Guy for your next talking points, Polly.

Where do you get $500 million from?

 

[georgephillip]

PE firms are quicker to restructure underperforming businesses but are quicker at expanding businesses after the restructuring.

Private equity takes out loans to purchase companies and then puts that debt on the companies' balance sheets. Assets, including jobs, are stripped as quickly as possible to extract value. Do you happen to know how many net US jobs Bain produced during Romney's tenure? Should he reveal as many tax returns as his father did?

The Lemmings have been told to focus on the lay-offs and closings.

ThinkProgress and MotherJones doesn't spend any time telling them about the 5,6,8, or 10 years these companies managed to stay open longer than they would have without the investment firm's money and direction.
Or that sometimes, no matter how much money you throw at a company, they still fail.

While Wall Street's slaves instinctively focus on assets like land and capital instead of human beings:

"Before Mitt Romney’s Bain Capital bought the rambling SCM factory in Marion, Ind., it was running three shifts a day, making hanging file folders and other office supplies. But on July 5, 1994, everything changed.

"The former SCM/AmPad plant in Marion, Ind., which Bain Capital closed back in 1994, is now occupied by another company called Novapak.

"The new owner, American Pad & Paper, owned in turn by Bain Capital, told all 258 union workers they were fired, in a cost-cutting move. Security guards hustled them out of the building. They would be able to reapply for their jobs, at lesser wages and benefits, but not all would be rehired.

“We were told they bought the assets, not the union or the [labor] contract...”

Is Mitt Romney really a job creator? What his Bain Capital record shows. - CSMonitor.com

 

[georgephillip]

Most of Romney's fortune came from funding fast growing firms. Most of the "parasites" aka "clients" are pension funds, endowments & foundations - ie universities, charities, hospitals, etc.- and insurance companies.

Why would anyone with any discernible moral standards suck up to a vacillating Reagan clone who inflated his personal fortune to $200 million by transforming red ink and massive layoffs into windfall profits for himself and his fellow parasites?

Oh, wait...you don't actually have any discernible moral standards, do you?

If you did you might feel obligated to judge the morality of Bain Capital's penchant for making most of its money through leveraged buy-outs, investing only a small amount of its own capital when purchasing a company, then heaping mountains of debt onto the company's books. Naturally compliant Republicans AND Democrats manufacture tax policy that allows the parasites to prosper regardless of whether the company fails or not.

I guess worshiping the ground that shit like Romney splats on is your schtick?

How many pension funds, endowments & foundations are partners/parasites in Bain Capital?

 

[Soggy in NOLA]

PE firms are quicker to restructure underperforming businesses but are quicker at expanding businesses after the restructuring.

The Lemmings have been told to focus on the lay-offs and closings.

ThinkProgress and MotherJones doesn't spend any time telling them about the 5,6,8, or 10 years these companies managed to stay open longer than they would have without the investment firm's money and direction.
Or that sometimes, no matter how much money you throw at a company, they still fail.

While Wall Street's slaves instinctively focus on assets like land and capital instead of human beings:

"Before Mitt Romney’s Bain Capital bought the rambling SCM factory in Marion, Ind., it was running three shifts a day, making hanging file folders and other office supplies. But on July 5, 1994, everything changed.

"The former SCM/AmPad plant in Marion, Ind., which Bain Capital closed back in 1994, is now occupied by another company called Novapak.

"The new owner, American Pad & Paper, owned in turn by Bain Capital, told all 258 union workers they were fired, in a cost-cutting move. Security guards hustled them out of the building. They would be able to reapply for their jobs, at lesser wages and benefits, but not all would be rehired.

“We were told they bought the assets, not the union or the [labor] contract...”
Is Mitt Romney really a job creator? What his Bain Capital record shows. - CSMonitor.com

Good!