How Bain Capital helped BP blow up the Deepwater Horizon - GoFuckYourself.com

astronaut x · 09-02-2012, 07:58 PM

http://www.gregpalast.com/how-bain-c...water-horizon/

_Richard_ · 09-02-2012, 08:06 PM

that post is the only reference i can find.. only other thing is BP/Bain publicist connection etc.. you have any more links?

epitome · 09-02-2012, 08:12 PM

I can't stand Romney or the company he founded but I am going to need more than that in this instance.

baddog · 09-02-2012, 08:17 PM

It's on the Internet; what else do you need?

astronaut x · 09-02-2012, 09:28 PM

Quote:

Originally Posted by _Richard_

that post is the only reference i can find.. only other thing is BP/Bain publicist connection etc.. you have any more links?

No. I stumbled upon it.

I did find this though.....

http://online.wsj.com/article/SB1000...090535738.html

"One of the first things Mr. Hayward did upon becoming CEO was commission Bain & Co., the management consulting firm, to "hold a mirror" up to BP. "They said: 'This is the most complicated enterprise we've ever come across," he says. "They had mapped 10,000 organizational interfaces?one for every 10 people."

"Mr. Hayward set about radically simplifying the company and cutting costs. Senior executives were cut by a quarter. In all, 6,500 people, or just under 10% of its work force, lost their jobs."

I did manage to find some discrepancies in the original article compared to the wall street journal article. The original article, written by Greg Palast from firedoglake, says it was Bain Capital, however, the WSJ article says it was Bain & Co that was hired as a consulting firm.

However, Romney was CEO of Bain & Co for a brief period of time as well...

http://en.wikipedia.org/wiki/Bain_%26_Company

Wiki says they are separate entities but they have extremely close ties to eachother.

Yea I do some fact checking. Take from it what you will.

astronaut x · 09-02-2012, 09:34 PM

Quote:

Originally Posted by baddog

It's on the Internet; what else do you need?

The thread title is simply the title of the article. Never said it was fact.

However, I did spend time on researching the validity of the article which is more then I can say for you.

_Richard_ · 09-02-2012, 09:39 PM

Quote:

Originally Posted by astronaut x

The thread title is simply the title of the article. Never said it was fact.

However, I did spend time on researching the validity of the article which is more then I can say for you.

ignore him, gout

_Richard_ · 09-02-2012, 09:45 PM

Quote:

Originally Posted by astronaut x

No. I stumbled upon it.

I did find this though.....

http://online.wsj.com/article/SB1000...090535738.html

"One of the first things Mr. Hayward did upon becoming CEO was commission Bain & Co., the management consulting firm, to "hold a mirror" up to BP. "They said: 'This is the most complicated enterprise we've ever come across," he says. "They had mapped 10,000 organizational interfaces?one for every 10 people."

"Mr. Hayward set about radically simplifying the company and cutting costs. Senior executives were cut by a quarter. In all, 6,500 people, or just under 10% of its work force, lost their jobs."

I did manage to find some discrepancies in the original article compared to the wall street journal article. The original article, written by Greg Palast from firedoglake, says it was Bain Capital, however, the WSJ article says it was Bain & Co that was hired as a consulting firm.

However, Romney was CEO of Bain & Co for a brief period of time as well...

http://en.wikipedia.org/wiki/Bain_%26_Company

Wiki says they are separate entities but they have extremely close ties to eachother.

Yea I do some fact checking. Take from it what you will.

Quote:

What's more, the bonus loophole gave Romney a perverse form of leverage: If the banks and the FDIC didn't give in to his demands and forgive much of Bain's debts, Romney would raid the firm's coffers, pushing it into the very bankruptcy that the loan agreement had been intended to avert. The losers in this game would not only be Bain's creditors ? including the federal government ? but the firm's nearly 1,000 employees worldwide.

Read more: http://www.rollingstone.com/politics...#ixzz25NYH5Xnd

awesome, good enough, nice find

Rochard · 09-02-2012, 09:57 PM

Quote:

Originally Posted by astronaut x

http://www.gregpalast.com/how-bain-c...water-horizon/

Well of course everything you read on the Internet is real, right?

Sorry, never heard of this guy and there no other proof. I call bullshit.

_Richard_ · 09-02-2012, 09:59 PM

Quote:

Originally Posted by Rochard

Well of course everything you read on the Internet is real, right?

Sorry, never heard of this guy and there no other proof. I call bullshit.

? did you read the second post?

papill0n · 09-02-2012, 10:02 PM

sickening

Adraco · 09-03-2012, 06:24 AM

Isn't there a difference between Bain Capital (the private equity/investment company) and Bain & Co (the management consultancy firm) ?

Phoenix · 09-03-2012, 06:30 AM

Quote:

Originally Posted by _Richard_

? did you read the second post?

of course not

i am not sure he knows how to read

_Richard_ · 09-03-2012, 11:20 AM

Quote:

Originally Posted by Adraco

Isn't there a difference between Bain Capital (the private equity/investment company) and Bain & Co (the management consultancy firm) ?

yea but romney happened to be the CEO of both

so..

DudeRick · 09-03-2012, 11:38 AM

Yah, and Bain Capital killed Princess Diana and poisoned Andy Griffith too!

Houdini · 09-03-2012, 11:44 AM

Quote:

Originally Posted by _Richard_

yea but romney happened to be the CEO of both

so..

He left one position in 1993 and the other in 1999, but don't let that get in the way of bashing him for everything the company has done since.

_Richard_ · 09-03-2012, 12:27 PM

Quote:

Originally Posted by Houdini

He left one position in 1993 and the other in 1999, but don't let that get in the way of bashing him for everything the company has done since.

at the time in order to get the loan reductions necessary, Romney threatened to use a legal loop hole to take all the liquid cash of the company and bonus it to all the partners of the corporation. This would bankrupt the company, and make the government and in extension taxpayers foot the multi million dollar bill of the loans they had organized.

but don't let facts or reality interfere with the blinders.

that just won't do.

_Richard_ · 09-03-2012, 12:28 PM

you should cast your vote now! with tricks like that, it won't be long till Romney and Co 'fix' the US of A

crockett · 09-03-2012, 01:35 PM

Quote:

Originally Posted by astronaut x

No. I stumbled upon it.

I did find this though.....

http://online.wsj.com/article/SB1000...090535738.html

"One of the first things Mr. Hayward did upon becoming CEO was commission Bain & Co., the management consulting firm, to "hold a mirror" up to BP. "They said: 'This is the most complicated enterprise we've ever come across," he says. "They had mapped 10,000 organizational interfaces—one for every 10 people."

"Mr. Hayward set about radically simplifying the company and cutting costs. Senior executives were cut by a quarter. In all, 6,500 people, or just under 10% of its work force, lost their jobs."

I did manage to find some discrepancies in the original article compared to the wall street journal article. The original article, written by Greg Palast from firedoglake, says it was Bain Capital, however, the WSJ article says it was Bain & Co that was hired as a consulting firm.

However, Romney was CEO of Bain & Co for a brief period of time as well...

http://en.wikipedia.org/wiki/Bain_%26_Company

Wiki says they are separate entities but they have extremely close ties to eachother.

Yea I do some fact checking. Take from it what you will.

While I can't fault any company for simplifying the company and cutting costs, but it seems Romney has pretty much zero track record in creating jobs as he was too busy getting rid of them..

It doesn't matter though because politics is never about your record it's only about what you promise and are able to make people believe. Sheep are easy to convince that you aren't going to steal the wool off their backs every year..

Dvae · 09-03-2012, 02:32 PM

Quote:

Originally Posted by astronaut x

http://www.gregpalast.com/how-bain-c...water-horizon/

The question you should really be asking is where were the government inspectors? Why did they not know if the rig was unsafe, why wasn't it inspected if it was not safe and shut it down.

BP Rig Missed 16 Inspections Before Explosion - CBS News ...

Oil Spill: Feds Won't Release BP Inspection Records - CBS News ...

Regulators share blame in BP oil spill, lawmakers say - USA Today

Federal Inspectors Clueless About Cementing, Oil Spill Panel Finds ..

Is it possible that the Obama administration is negligent here?

_Richard_ · 09-03-2012, 03:10 PM

Quote:

Originally Posted by Dvae

The question you should really be asking is where were the government inspectors? Why did they not know if the rig was unsafe, why wasn't it inspected if it was not safe and shut it down.

BP Rig Missed 16 Inspections Before Explosion - CBS News ...

Oil Spill: Feds Won't Release BP Inspection Records - CBS News ...

Regulators share blame in BP oil spill, lawmakers say - USA Today

Federal Inspectors Clueless About Cementing, Oil Spill Panel Finds ..

Is it possible that the Obama administration is negligent here?

do you mean the US government? i can't imagine the Obama admin is reviewing every safety regulation in the country

i thought you wanted him to fix the economy?

why target obama?

09-02-2012, 07:58 PM	#1
astronaut x Too lazy to set a custom title Industry Role: Join Date: May 2011 Location: From this www and beyond! Posts: 4,844	How Bain Capital helped BP blow up the Deepwater Horizon http://www.gregpalast.com/how-bain-c...water-horizon/

09-03-2012, 06:24 AM	#12
Adraco Confirmed User Industry Role: Join Date: May 2009 Location: Onboard an airplane around the globe Posts: 3,736	Isn't there a difference between Bain Capital (the private equity/investment company) and Bain & Co (the management consultancy firm) ? __________________ ---------------------------------------------------------------------------------- The truth is not affected by the beliefs, or doubts, of the majority.

09-02-2012, 08:06 PM	#2
_Richard_ Too lazy to set a custom title Industry Role: Join Date: Oct 2006 Location: Earth Posts: 30,989	that post is the only reference i can find.. only other thing is BP/Bain publicist connection etc.. you have any more links?

09-02-2012, 08:12 PM	#3
epitome So Fucking Lame Industry Role: Join Date: Jun 2009 Location: St. Petersburg, FL Posts: 12,156	I can't stand Romney or the company he founded but I am going to need more than that in this instance.

09-02-2012, 08:17 PM	#4
baddog So Fucking Banned Industry Role: Join Date: Apr 2001 Location: the beach, SoCal Posts: 107,089	It's on the Internet; what else do you need?

09-02-2012, 10:02 PM	#11
papill0n Unregistered Abuser Industry Role: Join Date: Oct 2007 Posts: 15,547	sickening

09-03-2012, 11:38 AM	#15
DudeRick Confirmed User Industry Role: Join Date: Feb 2004 Location: Tobacco Road Posts: 1,568	Yah, and Bain Capital killed Princess Diana and poisoned Andy Griffith too!

09-03-2012, 12:28 PM	#18
_Richard_ Too lazy to set a custom title Industry Role: Join Date: Oct 2006 Location: Earth Posts: 30,989	you should cast your vote now! with tricks like that, it won't be long till Romney and Co 'fix' the US of A