Quote:
Originally Posted by DudeRick
|
Quote:
Originally Posted by HushMoney
They say that Romney wasn't in control of the company at that time in the article. why don't you read the whole thing? He started Bain and was the driving force behind what they became. He did many LBO's before he left and controlled the outcomes, most of which were just like this one.
|
Here's how the article closes:
Bain Capital bought KB Toys in 2000, after Romney retired. He wouldn't have been involved in financial decisions, though he would have profited from them. The company did choose to take on debt, buy stock and pay investors a dividend, even as the toy store chain struggled to find its niche in a volatile industry.
Seems to me Romney profited, and that's that.
This is what Bain Capital does (or did). They borrowed money to buy stressed companies, sell off what is profitable, attempt to restructure the rest, and collect a huge management fee. It doesn't matter to them if the company survives or not or who losses their job in the process. They make money no matter what.