So Is It Venture or Vulture Capitalist?

[Perham1]

Seems the GOP can't figure out how they feel about the free market and now the invisible hand is pimp slapping the GOP right across the face. Is Newt's inner Democract surfacing?

 

[ShinerTX]

As is Perry's.

 

[majorwhiteapples]

The GOP is doing just fine, I would be more worried about the Democrats DWS and getting her to shut up. I don't know who is more embarrising, Pelosi or her?

 

[mcbrett]

I don't have an issue with firms like Bain Capital. They on occasion buy up larger firms, and split em off- either in a garage sale like process or as separate, individual companies. Take GE for example- it's really 8, huge companies combined as one. They have a ton of synergies being one company, as well as cost savings- but if you own them- and want to maximize your return- you can split them and sell them as individuals.

Jobs do get lost, and the people who benefit the most are the owners (aka Bain here) but, it is what it is and if the jobs were meant to be they are created again. In some cases it is creative destruction ala Schumpter, in others, it is just job destruction in the name of a quick profit. I wouldn't call it a career to brag about as being honorable but at the same time- if you excel at it you probably can excel at many other flavors of investment.

 

[BrothaHorn]

Newt should know better.

Perry is a 'Al Gore Democrat' so he can't help it.

Both should sit down and shut up, if that's the best they can do.

 

[Horn6721]

I wonder what the net is from Bain, were more jobs saved and created than were lost?
The one example frequently cited is the stell compnay in KC. It did go out of biz 7 Years after Bain took over but it had lots of problems when they took it over,
oTOH there is a steel company Bain took over in IN that is still going strong.
I think Staples is still doing ok
It is silly to try to use a a political tool blame on a company for other companies going out of biz if you don't also acknowledge they saved others that are still doing well today
and without taxpayer money.

In a way I am glad newt did this. it will make it hard or BO to try to use bain against Romney if he ends up being the nominee

 

[mcbrett]

6721- If you think Newt/Perry jumping on Bain will steal Obama's thunder you're wrong. He can say even people in your own party thought you have little to brag about business wise. They are framing it as such that- when Romney wasn't losing elections, he was helping people lose jobs by chopping up their companies.

As I said above- it's not bad business experience, but it's also probably something you shouldn't brag about because it does certainly kill some people's jobs so that a temporary owner can profit. Romney is a smart guy, he could leave it at that- but he does mention he "spent his life in the private sector" every 5 minutes when I watch him. Then I ask myself- so you call being governor of Massachusetts the private sector? Or running for election a few times is also the private sector?

I think my attitude is similar to many others- people understand Mitt is not an idiot, he has some qualities, but he's just not anything people are enthusiastic about. Chris Christie had that enthusiasm but he didn't want to run. So, we're left with meh..

 

[Perham1]

Do vulture capitalists like to fire people?

 

[Horn6721]

mcb
I think most people are smart enough to know companies go out of biz every day and not every company can be saved.
who do we blame when a company goes out of biz ?

MetLife just announced they are closing an irving Tx office and 850 people will lose jobs.
It is a fact of life

If as a whole bain did in fact save and create more jobs than were lost that is what Romney will focus on. hard for BO to say that is a negative

 

[BrothaHorn]

In reply to:

---

---