ThrutchBlog Posted January 18, 2012 Report Share Posted January 18, 2012 Bain Capital: While I'm not a fan of Romney, the attacks on his work at Bain Capital by other Republicans are revealing of their attitude towards capitalism. This editorial in the WSJ does a good job of making the point. An excerpt: One Bain investment during Mr. Romney's tenure was to back an entrepreneur named Tom Stemberg, who was convinced he could provide savings for small-business owners if they were willing to shop at a store instead of taking deliveries. Today, the Staples chain of business-supply stores employs 90,000 people. Bain also backed a start-up called Bright Horizons that now manages child-care centers for more than 700 corporate clients around the world. Many other venture bets failed, but that's capitalism, which is supposed to be a profit and loss system. The loss part is what seems to trouble the Gingrich-Perry-Obama critics, especially in Bain's private-equity business. Like some 2,300 other such U.S. equity firms, Bain looks to buy companies that are underperforming or undervalued and turn them around. Far from "looting," this is a vital contribution to capitalism and corporate governance. One of the persistent gripes of the left is that too many CEOs make too much money even as their companies flounder. Private-equity firms target such companies or subsidiaries, replace their management, and try to unlock the underlying value in the enterprise. Read the whole piece. Original entry: See link at top of this post Quote Link to comment Share on other sites More sharing options...
Erik Christensen Posted January 18, 2012 Report Share Posted January 18, 2012 Newt Gingrich will win South Carolina on Saturday. His end. by former AK Governor Sarah Palin is huge. Though I have qualms with both candidates I pick Newt over Romney. During the debate Romney only wanted to lower the tax rate down to 25% (the least of all the candidates!) and Newt was the second lowest (after Paul) down to 10%. Go NEWT. Quote Link to comment Share on other sites More sharing options...
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