How does Romney's Bain Experience Stack up?

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Author: [Politics] Topic: How does Romney's Bain Experience Stack up?
wallstreetcappers PM wallstreetcappers
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Posted: 5/24/2012 1:59:30 PM
Already, though, there were warning signs that the company was not on a sustainable course. Concerned about the level of debt, which totaled $378 million in 1995 on operating income less than a tenth of that amount, the merged company's new CEO, Roger Regelbrugge, negotiated a clause in his contract that would allow him to retire at the end of 1997.

At some point you need to stop with this mess, you are not holding a winning ticket here 14.

AustinHoopDream PM AustinHoopDream
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Posted: 5/24/2012 2:17:22 PM
14 all you offer is deflection, subterfuge, and tangents. you hide behind italics, dashes, blue text and one liners.


cashin PM cashin
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Posted: 5/24/2012 2:38:32 PM
QUOTE

Originally Posted by AustinHoopDream:

14 all you offer is deflection, subterfuge, and tangents. you hide behind italics, dashes, blue text and one liners.


And then disappears when he's been handed another shellacking. Only to come back & start it all over again on another issue, lol

lordspoint PM lordspoint
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Posted: 5/24/2012 3:08:57 PM
QUOTE Originally Posted by wallstreetcappers:

Nevertheless, Bain and its partners decided to buy the mill for $75 million. Bain put up about $8 million to gain majority control of the company, renamed GS Technologies Inc.



THE BIG DIVIDEND


Bain got its money back quickly. The new company issued $125 million in bonds and paid Bain a $36.1 million dividend in 1994.

Ok, I lost track on what this debate is about.

Is it about Romney?

Bain?

VC's in general?

14daroad PM 14daroad
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Posted: 5/24/2012 3:09:06 PM
QUOTE Originally Posted by wallstreetcappers:


At some point you need to stop with this mess, you are not holding a winning ticket here 14.

 

Um, again, I'm not the one suggesting that one example exemplifies Bain's business approach.

You are.

And again, if Bain is not interested in "long term interests of the company" why as majority shareholder did they oversee the plant moderinzation?

 

14daroad PM 14daroad
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Posted: 5/24/2012 3:09:37 PM
QUOTE Originally Posted by cashin:

And then disappears when he's been handed another shellacking. Only to come back & start it all over again on another issue, lol

Except you can point to 0 examples of where I"m "handed a shellacking"

THEMUGG PM THEMUGG
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Posted: 5/24/2012 3:09:56 PM
QUOTE Originally Posted by wallstreetcappers:

So how much of that 100M did Bain put in of their own firm capital?


In 1995 Bain merged GS with another wire rod maker in Georgetown, South Carolina, to form one of the largest mini-mill steel producers in the U.S. 

The new company issued another $125 million in bonds to pay for the merger. Bain doubled down, reinvesting $16.5 million of its earlier dividend.

Reinvesting money they took from the company via a divi is not firm capital.

 I'm not that educated about the past ventures of many of our distinguished "politicians".........but I try to read what I can. Froma Harrup had a nice column today about Romney & Bain that educated me a little about these scumbags.

14daroad PM 14daroad
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Posted: 5/24/2012 3:10:13 PM
QUOTE

Originally Posted by AustinHoopDream:

14 all you offer is deflection, subterfuge, and tangents. you hide behind italics, dashes, blue text and one liners.


Except you can provide zero examples of me "defleting" since every post & reference I made in this thread was about Bain.

Duh.

lordspoint PM lordspoint
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Posted: 5/24/2012 3:10:51 PM
QUOTE Originally Posted by wallstreetcappers:

Already, though, there were warning signs that the company was not on a sustainable course. Concerned about the level of debt, which totaled $378 million in 1995 on operating income less than a tenth of that amount, the merged company's new CEO, Roger Regelbrugge, negotiated a clause in his contract that would allow him to retire at the end of 1997.

At some point you need to stop with this mess, you are not holding a winning ticket here 14.

wall

one can also point out the Solydra investors being out in front of the American taxpayer

Bain = Obama administraion?

 

 

 

wallstreetcappers PM wallstreetcappers
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Posted: 5/24/2012 3:28:15 PM
14,

So how much did Bain invest in this venture and where i that missing 100M they used from firm capital?

I noticed your verbage miraculously changed too, why?

I am not elevating Obama, this is all and only about Mitt.
lordspoint PM lordspoint
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Posted: 5/24/2012 3:31:05 PM

ok, but the irony of Obama's actions and that of Bains amuses me

1+1 does = 2

 

wallstreetcappers PM wallstreetcappers
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Posted: 5/24/2012 4:11:37 PM
QUOTE Originally Posted by lordspoint:

ok, but the irony of Obama's actions and that of Bains amuses me

1+1 does = 2

 


How often do you see me pushing up one politician by pushing down another?

This is about Bain and Romney..nothing else.

Mugg, it is the business model of the average VC. They are not in the business of charity or a good cause, they evaluate each candidate based on financial gain/loss and risks.

The model is to acquire for as little "firm skin" as possible, take out the invested capital and as much as possible, prepare the company for either an IPO or a buyout, like the linked example above.


14daroad PM 14daroad
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Posted: 5/24/2012 5:07:35 PM
QUOTE Originally Posted by wallstreetcappers:

14,

So how much did Bain invest in this venture and where i that missing 100M they used from firm capital?

I noticed your verbage miraculously changed too, why?

I am not elevating Obama, this is all and only about Mitt.

I'm not suggesting you're elevating Obama here?

Here is what the news account says:

GS Technologies announced plans to spend $98 million modernizing the Kansas City plant and in 1995

So notice how you've moved the goal posts from Bain wanted nothing to do with the long term betterment of the company, to "investing firm capital"

Also notice you won't answer the question.
lordspoint PM lordspoint
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Posted: 5/24/2012 6:37:31 PM
QUOTE Originally Posted by wallstreetcappers:

14,

So how much did Bain invest in this venture and where i that missing 100M they used from firm capital?

I noticed your verbage miraculously changed too, why?

I am not elevating Obama, this is all and only about Mitt.

Yes but you seem to be painting a picture of Bain having 0% success and plundering every company that it was involved with. This is just not the case. Do they plunder some companies, yes they do. Do they do it to all, no.

Have they laid off people, yes. Have they also hired people, yes.

I can provide factual data to back this up but you and I both know what I am saying is true.

They are in the business of risk investing with hopes of making money (I know, its a dirty word) but that is what they do and the results are not always pretty. I do not necessarily agree with plundering companies but I am sure there are VC's with worse track records and results.

Anyways, that's my 2 cents on the subject.

 

 

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