Tag: bain capital

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Boston Mitt Romney Newt Gingrich Politics South Carolina

Mitt Romney Also Took Jobs Away From South Carolina – Made Millions For Doing It

David Wren writes: 

Boston-based Bain Capital LLC more than doubled its money on GS Industries Inc. [of South Carolina] – the former parent company of Georgetown Steel – under Mitt Romney’s leadership in the 1990s, even as the steel manufacturer went on to cut more than 1,750 jobs, shuttered a division that had been around for 100 years and eventually sank into bankruptcy.

Bain Capital spent $24.5 million to acquire GS Industries in 1993, according to an investment prospectus for the company that was obtained by the Los Angeles Times and reviewed by McClatchy Newspapers. By the end of that decade, Bain Capital estimated its partners had made $58.4 million off its investment in GS Industries, according to the prospectus.

Bain Capital’s partners also earned multimillion-dollar dividends from GS Industries and annual management fees of about $900,000. But by the time GS Industries filed for bankruptcy protection in 2001, it owed $553.9 million in debts against assets valued at $395.2 million.

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Mitt Romney MSNBC Newt Gingrich Politics Republican republican debate Rick Santorum

Republican Debate – A Record Flip Flop For Romney – Video

A Republican debate happened yesterday and Romney stood above the fighting fray, walking away with little or no real attacks on him or his record.

A Republican debate happened today, and things were much different, as Romney took swings from Rick Santorum and Jon Huntsman.

But Newt Gingrich took to the floor with one clear goal in mind. He wanted the audience to know the truth about Romney and his SuperPAC’s attempts to derail his candidacy with negative ads. Romney had previously said that he knew nothing about the actions of the PAC, or who they were. But today, he flip-flopped on that claim too.

Watch below, as Romney claimed he hadn’t seen any of the ads Gingrich was talking about, only to turn around and perfectly describe the ads he didn’t see.

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Mitt Romney Politics Tax returns

Where Are Your Tax Returns Willard?

We all know that Mitt Romney is a ga-zillionaire trying to convince Americans that he is just an average Joe, someone you can sit and have a beer with. His financial deals at Bain Capital  – where he mainly bought smaller business, fired the employees and shipped those jobs overseas because of cheap labor markets – are no secret.

Yes, his record is clear. So why not release his tax returns?

Mr. Romney made the statement in an interview with MSNBC on Wednesday, but the network did not show that part of the interview. Mr. Romney, a multimillionaire who made his fortune running a private equity firm, was asked whether he planned to release his tax return.

“I doubt it,” Mr. Romney said, according to a transcript of the interview provided by NBC News. “I will provide all the financial info, which is an extraordinary pile of documents which show investments and so forth.”

“But you won’t do the tax returns?” asked Chuck Todd, host of “The Daily Rundown.”

“I don’t intend to release the tax returns. I don’t.”,  Mr. Romney responded.

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Mitt Romney Politics Wall Street

The Picture Mitt Romney Doesn’t Want You To See

This cannot be the image the Romney campaign wants the voters to see, so that’s why we’re showing it.

LOL.

Here we find the multi-million dollar Republican presidential candidate, from his time at Bain Capital. Romney is doing what Romney does best, no, not flip-flopping, but basking in the royal favor of his Wall Street buddies. And what could be better than having them stuff your pockets with cold hard cash!

No wonder Wall Street is giddy with excitement over the idea of a Romney presidency

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