Greedy Dems Using Bain Capital to Invest

Democrats, Unions and sundry other Leftists have made the evil Bain Capital the centerpiece of their Romney hate campaign. The evil capitalist at work. Wonder what would happen if they walked their talk, and pull their investments made through Bain Capital. Lots of unions, Dems, Leftists, communists making money here. Some of the government employee investments are:

 Illinois Municipal Retirement Fund ($2.2 million)

Indiana Public Retirement System ($39.3 million)

Iowa Public Employees’ Retirement System ($177.1 million)

The Los Angeles Fire and Police Pension System ($19.5 million)

Maryland State Retirement and Pension System ($117.5 million)

Public Employees’ Retirement System of Nevada ($20.3 million)

State Teachers Retirement System of Ohio ($767.3 million)

Pennsylvania State Employees’ Retirement System ($231.5 million)

Employees’ Retirement System of Rhode Island ($25 million)

San Diego County Employees Retirement Association ($23.5 million)

Teacher Retirement System of Texas ($122.5 million)

Tennessee Consolidated Retirement System ($15 million)

Some Leftist universities that teach Marxism and the evils of Capitalism:

Purdue University ($15.9 million)

University of California ($225.7 million)

University of Michigan ($130 million)

University of Virginia ($20 million)

University of Washington ($33 million)

Some Leftist anti capitalist foundations investing through Bain include Charles Stewart Mott Foundation, the Doris Duke Foundation, the Metropolitan Museum of Art, the Ford Foundation, the Heinz Endowments and the Oprah Winfrey Foundation.

Money grubbing greedy Dems and Leftists should be ashamed of themselves for being such hypocrites.

Private Investment vs Public "Investment"

We hear our anti-capitalist Dear Leader attack investment bankers as evil, though he doesn't use the word. That’s his “evil empire”; not enemies of freedom but venture investment companies like Bain Capital. Our Dear Leader is forever talking about the government (him and Democrats) investing “in our children”, “in health care”, “in manufacturing”, and most importantly “in green jobs”.

Well, let’s do a comparison. Here’s the “investments” by Obama in the “green energy” industry:

Evergreen Solar
SpectraWatt
Solyndra (received $535 million)
Beacon Power (received $43 million)
AES’ subsidiary Eastern Energy
Nevada Geothermal (received $98.5 million)
SunPower (received $1.5 billion)
First Solar (received $1.46 billion)
Babcock & Brown (an Australian company which received $178 million)
Ener1 (subsidiary EnerDel received $118.5 million)
Amonix (received 5.9 million)
The National Renewable Energy Lab
Fisker Automotive
Abound Solar (received $400 million)
Chevy Volt (taxpayers basically own GM)
Solar Trust of America
A123 Systems (received $279 million)
Willard & Kelsey Solar Group (received $6 million)
Johnson Controls (received $299 million)
Schneider Electric (received $86 million)

All failed. 

About 80% of these companies are in the bag for Obama. “… $16.4 billion of the $20.5 billion in loans granted as of Sept. 15 went to companies either run by or primarily owned by Obama financial backers—individuals who were bundlers, members of Obama’s National Finance Committee, or large donors to the Democratic Party. The grant and guaranteed-loan recipients were early backers of Obama before he ran for president, people who continued to give to his campaigns and exclusively to the Democratic Party in the years leading up to 2008.  Article here.

Here’s a note to your pocketbook. Fossil fuel based energy costs 5 cents per kilowatt hours. “Green” based energy costs 35 cents an hour.  Obama is on vid saying he wants to drive energy costs up. His energy policy by design is to raise the amount of $money it takes to warm and cool your house, and purchase gas and oil for your car. 

Bain Capitol was involved in 77 companies between 1984 and 1999; 22 percent of them failed within that period Romney worked there. Some of the companies included AMC Entertainment, Aspen Education Group, Brookstone, Burger King, Burlington Coat Factory, Clear Channel Communications, Domino's Pizza, DoubleClick, Dunkin' Donuts, D&M Holdings, Guitar Center, Hospital Corporation of America (HCA), Sealy, The Sports Authority, Staples, Toys "R" Us, Warner Music Group and The Weather Channel.  Some pretty good investments and lots of jobs were generated.  Certainly more than Obama's "investments" listed above. Of course Obama’s “investments” have cost $billions and tens of thousands of jobs have been lost. In case you're wondering, I'm putting "investments" in scare quotes because they aren't, they're payoffs for crony capitalism. 

Much grief was given Romney, even by some Republicans, most notably by Rick Perry and Newt Gringrich during the Republican Presidential Debates. For some reason they thought if an investment failed no profit should be taken.  That money gets reinvested too, so it’s a wash there. On the other hand Bain used money from private sources they raised by being so competent people were willing to trust them with their money to the tune of $billions. On the other hand, Obama and the Dems used money confiscated (through taxation), borrowed from unfriendly foreign countries, and printed, to finance companies with no demand for their products and services, and in the case of car companies were failing due to stupid management.

We have a president and political party that use tax payer money (not their own put at risk) to “invest” in private companies. That’s okay. But a man that gains the trust of others, and risks his own money to invest is not okay.  Go figure.

Bain Capital, Romney, & Democrats Total Lack of Understanding of How Investing Works

The Obama campaign vid about Romney, Bain Capital, and GST Steel is posted below this. There are a lot of problems with it, mostly that it’s untrue. If one didn’t know better, the purpose of private equity firms is to raid healthy companies, throw good hard working people out of work, and pay themselves.

The description here is GST Steel was a healthy thriving company, and Romney came in and destroyed it. First problem is Romney had left Bain two years before GST declared bankruptcy. The narrative is Romney and Bain came in, sucked all the money out, paid themselves and left.

GST, like all steel companies began going downhill in the early 1990’s. Then was the beginning of alternative materials to steel and higher rates of imports of steel, mostly from Asia, causing a downturn in the amount of steel being produced in the US. This was when Bain came in, using the equity investment business strategy of buying up companies heavily in debt, restructure them and cut costs, and make them productive again. Once they’re productive again, they’re taken public or sold to another company.

The company was actually turned around after Bain restructured it. It became a world class producer of rods. It was going downhill before Bain got there and would have failed and declared bankruptcy much earlier like so many steel production companies did then.

It’s lame the Dems are saying, well, Romney set it all in motion; just because he had left two years earlier doesn’t mean he’s not responsible for what happened. The reason he left by the way was to save the Salt Lake City Winter Olympics. If you'll remember, it was headed for major disaster. He turned it into a profitable, popular, success. It was also lame, and it really ticked me off when during the Republican debates, both Perry and Gingrich went after Romney for being a venture capitalist and rich. Really? That’s what opened the door for this whole lying mess. Both those guys plummeted in my estimation of them.

Even though Romney wasn’t there, he’s responsible? Obama’s been there for what, 38 months? How many jobs has he cost? 8.1% unemployment. About 17% unemployment if all the citizens that have left the job market are counted, or ran out of unemployment benefits, taken lesser jobs or have just given up. OH! What am I thinking? It’s Bush’s fault, and them ‘wascally ‘wepublicans…

The vid:

http://youtu.be/sWiSFwZJXwE