paulitician
Platinum Member
- Oct 7, 2011
- 38,401
- 4,162
- 1,130
Many more than Obamy's "Jobs Czar" GE CEO Jeffrey Immelt has.
Follow along with the video below to see how to install our site as a web app on your home screen.
Note: This feature may not be available in some browsers.
Let's say you purchase 4-5 companies that produce radios (random product I chose), and consolidate them into 1 company that radios. You then liquidate most of the assets, and make the "new" company, more profitable (by expanding the market, cutting back on costs, using the good aspects of each of the 4-5 companies, hiring your own people to run it, etc.). Finally you sell that company for a profit (sometimes very large)-you technically created jobs at that one company-but you also ended many jobs at the 4-5 original companies.
I'm not saying this should be made illegal by any means, but it certainly can be immoral in certain situations.
OK. So let's say that one company that you created from the 4/5 invests in new machinery, making their product faster and cheaper to produce... and new technology that makes their radios unique in the market. And let's then say that company sees a massive increase in sales.... so they then need more workers... and those who were employed in the 4/5 now find they can get better jobs, at higher pay, and learn new skills....
Both scenarios happen.
But VC companies do not go into businesses to close them down. That is always the least profitable - and therefore the least attractive outcome.
I think people should understand the type of business that Bain is in. If I'm correct they invest in upstart companies and companies that have red flags, If both of these types of companies succeed, the rewards are great, if not they can hurt. They all are risk investments, and if left alone or handled by another company, the outcomes would probably not change. I don't think you can put the blame on any one person, or even on Bain. Some companies succeed and the majority fail in this country.
It looks like those that want Romney to fail are only counting the companies that fail and so does the employment of those companies. The ones that succeed seems not to be counted in the mix.
I'm not a Romney fan, but I do understand how Bain and companies like Bain work....the rewards and the failures.
He says 100,000.
I say he's lying.
Anyone know if he created any jobs at all, and if so how many?
He says 100,000.
I say he's lying.
Anyone know if he created any jobs at all, and if so how many?
Here's the key thing, though. Romney's argument is that at Bain, he was a job creator.
But Bain only created jobs if Bain could make a profit.
If Bain could make a profit firing people and selling off the assets, they did that.
"Either Mitt Romney misrepresented his tenure at Bain to the SEC or he misrepresented it to the voters of Massachusetts," said Ben LaBolt, an Obama campaign spokesman, on Fox News. "If he released more documents, like further tax returns, we would know the extent of his involvement at Bain during this period. If he released board minutes, we'd know the extent of his involvement at Bain."
The tax returns issue could prove a thorny one for Romney, who was booed at a GOP debate in South Carolina earlier this year after he equivocated on whether he would release the returns. His 2011 returns, released in January, showed that Romney and wife Ann paid $3 million in taxes in 2010 on $21.7 million in income, a tax rate of 13.9%, much lower than the 35% marginal rate.
Here's the key thing, though. Romney's argument is that at Bain, he was a job creator.
But Bain only created jobs if Bain could make a profit.
If Bain could make a profit firing people and selling off the assets, they did that.
and 9 Times out of 10 if they did that, the company was going to go under anyways.
They Bought interests in companys Hoping they would do well so they would make a long term Profit income off it, if they failed Bain Re cooped as much of it's investors money as it could out of the remains.
It smacks of Ignorance to think that Private Equity is in the Business of looking for Companies to buy and Break apart and sell off. The Big Money is in Success not Failure.
That's why Everyone but you far left loons and die hard Obama Supporters says this entire line of Attack is BOGUS.
So....nothing but deflection. That must mean no one knows.