I strongly suggest to some of the partisan parrots do a little research on what companies like Bain actually do. Look very hard at their method. And then most importantly look at their track record when they finally leave the scene.
It is in their best interest to make a sick business well and then sell it as an operating concern VS the unfortunate popular and partisan political belief. Their intent is not to fire people and close down businesses. There is more money to be made selling a going concern than liquidating a business.
Do they fire people? Of course they do. They will analyze why a company is not profitable and then take actions....that any RESPONSIBLE management should have taken in the first place. If there are to be "firings" (the word partisan politicians prefer) it usually starts with getting rid of the executives who did not do the job in the first place.
Yes they will close down operations that do not contribute to profitability or add value to the company. And yes the people who work there will be either reassigned or let go....many of which should not have ever been added or kept on the payroll in the first place.
The number of operations closed down as a percent of the total is some where around 10%. That means 90% are better companies/operations than when the Bain-like folks came in.
Having been in that business myself, I am always amazed and never disappointed by the total and complete lack of knowledge by the general public (and obviously ALL politicians). The only subject that seems to get the attention is painting negatively what was done to make the unprofitable companies sound operating entities again.
Obama is on the wrong track making the election "about Bain". And according to several articles in various media this morning, more democrats believe the same.
And for those of you who are clamoring for a comparison of each candidates (Obama/Romney) past performance......thank GOD you have seen the light. Romney's performance results as a business man will so over shadow the career politician/Obama it will be embarassing.
And for those still beating the "rich man" drum.....please keep in mind they are ALL rich with many much richer than Romney. A few weeks ago they stated Obama's worth at ten million....I do believe that is above the threshold of the standard for being rich.
As one head line this morning put it...Obama Stumbles out of the gate....his personal attack campaign for thinking people does not work!!!!!
Do some research on the venture capital companies....you will become educated while being surprised.
btk
|