http://www.webcasts.com/kingofbain/

 

Capitalism made America great - free markets, innovation, hard work - the building blocks of the American Dream. But in the wrong hands some of those dreams can turn into nightmares. This film is about one raider and his firm and how they destroyed that dream for thousands of Americans and their families - Mitt Romney and Bain Capital.

I know there's a Mitt Romney thread, but I felt this was important enough not to be lost on page 4 somewhere.

I will admit I havent watched the entire video, but im not sure what the actual argument is. Is the argument that Romney broke the law in some way, or is it just booh hooh I worked for a shitty company and Bain Capital came in and broke it up, and therefore I lost my job.

what a joke that vid is. some guy lost his job and then hid kid got cancer! romney gives kids cancer! people that lost their job made less money at a different job! companies fired people to make more money, oh noes! if that made the company more money weren't those jobs superfluous? romney did an ipo and then sold stock omg! wtf

10 min in, that's it, I'm done. seen enough campaign ads, don't need to watch ten more minutes of one. ugh

 

Originally Posted by norcaljeff

what a joke that vid is. some guy lost his job and then hid kid got cancer! romney gives kids cancer! people that lost their job made less money at a different job! companies fired people to make more money, oh noes! if that made the company more money weren't those jobs superfluous? romney did an ipo and then sold stock omg! wtf

10 min in, that's it, I'm done. seen enough campaign ads, don't need to watch ten more minutes of one. ugh

Funny how Ron Paul was the only one who didn't jump on the bandwagon of attacking Romney for this.

 

Originally Posted by norcaljeff

what a joke that vid is. some guy lost his job and then hid kid got cancer! romney gives kids cancer! people that lost their job made less money at a different job! companies fired people to make more money, oh noes! if that made the company more money weren't those jobs superfluous? romney did an ipo and then sold stock omg! wtf

10 min in, that's it, I'm done. seen enough campaign ads, don't need to watch ten more minutes of one. ugh

Funny you support this. Raiders are a leech upon society and we have fed this by allowing corporations to operate, in fact encouraging, in a sociopathic manner with no consequences.

We are on the road to ruin. It's right around the corner. But fuck it, we all deserve it. Shit is fucked.

Nothing wrong with being in PE you hippies

 

Originally Posted by dixiecrat88

but im not sure what the actual argument is.

 

Originally Posted by SevenCostanza

There are people who act to benefit themselves no matter how much it hurts other people. And there are people who take other people's lives/health/happiness/financial-well-being more into account when acting (of course it is a sliding scale). While the former isn't illegal, I'd rather not have someone like that in any political office.

This is one of the arguments.

The other argument is that its disingenuous for Romney to tout his private sector experience and say "I was successful in the private sector, ergo I can create jobs" when in the course of his private sector experience he laid off thousands of people.

 

Originally Posted by Lord Supremo

This is one of the arguments.

The other argument is that its disingenuous for Romney to tout his private sector experience and say "I was successful in the private sector, ergo I can create jobs" when in the course of his private sector experience he laid off thousands of people.

Seems relevant to me if he wants to lay off thousands of government workers! :p

But seriously, so he layed off thousands, do we know how many jobs he saved or created? And I do agree that "experience in the private sector" doesn't really mean much when running for government since it isn't run like a business.

 

Originally Posted by norcaljeff

what a joke that vid is. some guy lost his job and then hid kid got cancer! romney gives kids cancer! people that lost their job made less money at a different job! companies fired people to make more money, oh noes! if that made the company more money weren't those jobs superfluous? romney did an ipo and then sold stock omg! wtf

10 min in, that's it, I'm done. seen enough campaign ads, don't need to watch ten more minutes of one. ugh

Wasn't this put out by newts pit bulls???


Fwiw, I don't get the big deal. These companies were going to go under if he didn't step in. He turned a lot of companies around. He couldn't with others.

Cue Arnold Jackson: Who Fucking Cares

His views on "Corporations are people" is a huge turn off too. There has not been one person I've talked to that agrees with the Citizens United decision. Also saying trickle down economics work, are you kidding? Being worried about getting a pink slip? His father was a CEO for Mitt's whole life. I find it hard to believe that money was ever an issue for him.

 

Originally Posted by Leet8s

PE is about taking a public company and turning it private or taking over a private company.

First off, let's discuss the word takeover. The PE firm compensates the firm it's acquiring for its equity. If the firm is valued at $100M, say by management, they'll probably get $120M+ from the PE firm. So they are making money, they are making an economic decision on how much they value their company and where they are willing to sell. If you were in their shoes you would have a price to sell your company too...

So once the PE firm gains equity control, they go in and get rid of the inefficiencies and put into place measures which they think will better the firm. They took over the firm in the first place because of a strategic opportunity, it is now the obligation of the PE firm, to its shareholders, to maximize the value of the company it has taken over. If that means firing lots of people because they suck, then so be it. You guys are saying it's evil what Romney and Bain did would do the same thing if you worked at a PE firm. But I guess most of you wouldnt work at a PE firm to begin with but saying that a PE firm goes in and fires people for the sake of it is silly and uneducated.

I agree with your post but it was dumb of you to say this. When there are layoffs in a situation like a takeover people get laid off because their department was closed, stores in an area are underperforming. So while I agree with almost every word you posted, I get disgusted and upset at your post because of a couple words

Well stop being such a vagina then. If workers suck then fire them, why is that such a disgusting concept? If your plumber sucked would you still use him? If you went to a restaurant that sucked, would you keep going? I'm confused, just because it's someone job, I as a manager have to be humane for his livelihood? What about my company? Where is the line drawn for my interests as a boss and the humaneness of the employee I'm about to fire?

 

Originally Posted by mordan

What is even better is that under our Supreme Court's interpretation of the constitution, corporations are people, but people from other countries are not people. Fucking makes tons of sense.

 

Originally Posted by Leet8s

If a worker is net positive for a company they won't get fired.

You are making tons of assumptions here.