Two Romney-related Links

[chris_gerrib]

I found I had nothing to say yesterday, so I said nothing. Not to make this an all-Romney, all-the-time blog, but here are two items of interest regarding this blog's favorite CEO-who-retroactively-retired.

1) From jaylake, here's an interesting parallel. American history, as told through the two Romneys. It's a look at how very different the two Presidential candidates are, from how much money they make to how much taxes they paid and tax returns they disclosed.

2) Here's an interesting analysis of the most profitable Bain deals as done by Romney. Not to put too fine a point on it, but it's basically a legalized version of what Tony Soprano did to his "friend's" sporting-goods store: Run up a ton of debt, cash yourself out, and let the company fail shortly thereafter. Rick Perry, the Texas governor, is most definitely not the brightest bulb in the marquee, but he correctly labeled this "vulture capitalism."

Comments

[(Anonymous)]

That is how Private Equity firms make money. Heads they win; Tails you lose. It's really simple. As long as the profile of the business they want to 'turn around' has the right capital profile, they can't lose. Even if the business goes bust, they will still have made all their money back with interest.

The success of the business is purely incidental.

A GOP person described this as a boil, and if they don't lance it soon, it'll fester.

[daveon.livejournal.com]

That was me, thought I'd lost that. You may delete it,

[daveon.livejournal.com]

Thus it has ever been with Private Equity.

It's good business, not necessarily moral mind you,but I'm struggling with the applicability to the country.

I've only seen one presidential campaign close up, but Romney seems to be really struggling when he ought to have no trouble making the narrative about the economy.

At least Kerry and McCain had some time ahead in the tracking polls around this part of the campaign.