Posted by: kevinfortruth | September 19, 2012

How many of the 47 percent were fired by Bain Capital and Mitt “I never apologize” Romney?


The answer to that question is, “not many”, but my guess is that the bulk of the thousands of employees Romney and Bain fired or terminated or laid off are part of the 47 percent Romney says he does not care about.  He did not care about them when he was giving them “pink slips” so why would he give a hell about them now?

Bain Capital, early on, would purchase companies who had either a good amount of cash or had a hefty amount put aside for employee pensions – yet the companies in question had some fundamental problems that needed to be addressed.

Again, early on, Bain spent considerable time analyzing these companies fixing what they could – obviously for a fat fee – and if the companies survived those high management fees they were able to stay in business.

So, Bain, initially, made a good amount of money while doing “some” good – but they only did it for a substantial profit – still, it was a win-win situation.

Then Bain got the idea that if they were very selective about the companies they bought – making sure the companies were cash cows or had a ton of assets that could easily be converted into cash – they, Bain, could quickly buy them and do what they needed to do even quicker because they did not need to waste time learning all about the companies.  Basically these later purchases made by Bain could be equated to “hit and runs” or even “drive-by shootings” – no longer like courtships followed by an engagement, wedding, and subsequent divorce.

From a time perspective it was like the old adage, “why buy the cow when you can get the milk for free.”  Don’t get me wrong, Bain still purchased the companies but they had a very short-term plan of how to butcher them up in record time – while even making more money than they did on earlier purchases.

Bain bought them without caring about their long term future – then they basically “raped and plundered” them.  They burdened these companies with so much debt by charging excessive management fees that they were destined for bankruptcy or one hellava yard sale.  In those cases, dedicated, long-term employees who were close to retirement were left holding the bag – losing their health care, their pensions, and their jobs.

Romney claims that he left Bain in 1999 but there are documents that show he was involved in decisions that either forced some of these companies into bankruptcy or his actions resulted in them going under.  In all, over 6,000 people in these four companies lost their jobs.

Mitt “I left Bain in 1999” Romney does not want to release 10 years of tax returns because they will show he was working for Bain 2 – 3 years after the time he said he left Bain.

Romney’s father, when he ran for office, chose to release 10 years of tax returns.  Recently, when Romney was vetting prospective V.P. candidates, he required each of them to submit 10 years of tax returns to his campaign so he could make the best choice.

Why would Romney require his V.P. candidates to submit 10 years of paperwork when he has only produced 2 years himself?

Romney, in my opinion, is a compulsive liar and as a result is afraid to talk about things because there are earlier videos that will catch him in lies.

There are rumors of how Romney is considering buying a factory in China because the company is so well run that there are citizens outside the gates that want to work at the factory.  Romney said that the employees live in dormitories with bunk beds stacked three beds high – almost implying that those dormitory environments are the way to go.

Maybe Romney could build factories here in the United States adjacent to each of his mansions across the country.  If he carefully planned each one, I believe he could stack the beds four high and 20 or 30 employees to each room.

He could even have three shifts and have the employees share the beds – keeping costs down.

To make additional money, Romney could have Bain Capital invest in a fleet of Taco Trucks and/or Fried Chicken trucks to sell meals to his employees right there at the factories or in front of his mansions.   That concept would help keep employees right there on the property – available for mandatory overtime when business warrants the hours.

If he hired illegals and less fortunate employees he could even cheat them out of hourly wages and overtime because the employees would fear being deported or simply fired without receiving back pay or overtime pay.

The concept of having employees in barracks next to manufacturing facilities works well for facilities making Apple products in China.  One negative aspect to this concept is that there is an increased incidence of suicides.

But again, those committing suicide would be part of the 47 percent of Americans Romney does not care about – also, the unemployment rate would go down because the suicides would not be counted as unemployed – and Romney, as President, would not have to worry about giving them government checks, food assistance, or healthcare.

Getting back to the 47 percent of Americans depending on a government check – I am one of “those” because I served my country in the Air Force for over twenty years before I retired.  I earned my military retired check – my government promised it to me if I served and I expect them to hold up their end of the bargain – because I did.

I also am a senior and I applied for Social Security and I receive a paycheck monthly.  Do I consider my Social Security check a hand-out or some kind of welfare?  Surely not.

The Social Security check I receive is payback to me for money that was taken from my paychecks during my employment years.  I had no choice regarding Social Security being deducted from my wages – I also had deductions for Medicare and as a result, I feel that I contributed to a fund that is now there to help me with my medical care and expenses.

I agree that there are probably 47 percent of Americans receiving some kind of government check monthly – but the majority of them worked hard all their lives – either in the military or the public or private sectors and the checks they currently receive are because they have a valid reason for receiving them – and these checks do not represent charity in any way, shape or form.

Republicans talk about Medicare like it is a charity program and that it needs to be cut – while they give further tax cuts to the very rich.

To that, I say, the rich are doing quite well – if anything raise their tax rate a little higher and keep your hands off Medicare.

One thing our Congressmen can do, however, is cut some of the fraud and abuse that is done by companies and even the medical community – many of which are owned by rich Americans that are also demanding tax cuts.  I am talking about large HMO’s, hospitals, medical equipment manufacturers and pharmaceutical companies – all with high paid lobbyists who are in bed with some of our Congressional representatives.

Please, Please, Please, participate in the polling questions AND please leave a comment.

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Responses

  1. Kevin
    Well Kevin I have been reading your last couple of blogs on Romney I know you pretty well. You know me pretty well also where as you have been a Demarcate I have been a Republican most of my life until I moved here on the East Coast.

    When Senator John McCann was running against Obama in 2008 I voted for Obama because I was ready for a change in this country. Well its four years later and I haven’t seen many changes in this country except that people are still losing their jobs even under President Obama.

    Ok so Bain Capital moved some of these factories overseas and increases their profits. I say who cares there is no difference in what he did and what other big companies do such as Wal-Mart, Sears, Kmart, Lowes, and Home depot all of these companies buy and have their own products made overseas.

    You bitch about Mitt Romney wanting to tear down his home in California and wanting to build a bigger one. I say who cares a damn he has the money so let him. He and his family have out grown that home and it’s time to build a bigger one.

    He says that there are 47 percent of Americans that are receiving some kind of government check well I am one of these people who get Food Stamps. You say that he lies to use so has President Obama he still hasn’t released his birth certificate to us.

    We need another change in this country for 2012 and as for me I haven’t decided who I am going to vote for I wish that there could be a different Demarcate that could run against President Obama. I don’t think that Mitt Romney is the answer either. We do need a change in this country and someone who will stop spending money.

    • Hi Amiee; Again, thanks for commenting. You wrote a lot, so I am going to comment on each part – in detail. I hope you enjoy it.

      Your comments are in bold and my replies are in plain text.

        Kevin
        Well Kevin I have been reading your last couple of blogs on Romney I know you pretty well. You know me pretty well also where as you have been a Demarcate I have been a Republican most of my life until I moved here on the East Coast.

      I am not ashamed that I am a registered Democrat because I believe the Democratic Party represents average working Americans. One thing though, I NEVER vote straight ticket – I look at every contest and do my best to research so I can vote for the best candidate – regardless of party. Amiee – do you usually vote straight ticket?

        When Senator John McCann was running against Obama in 2008 I voted for Obama because I was ready for a change in this country. Well its four years later and I haven’t seen many changes in this country except that people are still losing their jobs even under President Obama.

      You need to check your facts and your assumptions. Our country has seen an increase in hiring – not more people losing jobs – do a little more research.

      When Bush left office, unemployment was 7.3 percent and we were entering a recession. The unemployment rate went up during Obama’s first year to a high of 10.0 percent and has been going down since then. It is now in the 8.1 percent – so from the 10 percent high it has gone down almost 25 percent to 8.1 percent. Here is the link from the bureau of labor statistics.

      http://data.bls.gov/pdq/SurveyOutputServlet?request_action=wh&graph_name=LN_cpsbref3

      Also, the Obama Administration has been offering federal funds for highways, high speed rail, and shovel ready public works projects – unfortunately, most Republican governors have refused those funds because it would have helped make Obama look good – so they would rather have their citizen unemployed so Romney could get elected.

        Ok so Bain Capital moved some of these factories overseas and increases their profits. I say who cares there is no difference in what he did and what other big companies do such as Wal-Mart, Sears, Kmart, Lowes, and Home depot all of these companies buy and have their own products made overseas.

      Read your comments, Kmart, Sears, Lowes, Wal-Mart, and Home Depot do not buy companies and bust them up – putting thousands of people out of work. Those companies you mention do choose to have goods made overseas to increase profits but they do not steal pension funds to do it. Also, you know exactly how I feel about Wal-Mart – they have caused more job losses in America than any other company. They go into towns, put many small businesses out of work and then hire some of those people back at minimum wage. The net effect is that even though Wal-Mart has over 1 million employees, more than 1 million Americans have lost jobs to Wal-Mart.

        You bitch about Mitt Romney wanting to tear down his home in California and wanting to build a bigger one. I say who cares a damn he has the money so let him. He and his family have out grown that home and it’s time to build a bigger one.

      I don’t like your choice of words, “I bitch about Mitt Romney wanting to tear down his home in California and wanting to build a bigger one. In fact, I am not jealous of Romney’s money – just that he busted up companies – ripped off their pension funds, took their cash, and fired all the employees in the process. In fact, he did not outgrow his home – most of his sons are living on their own. I only resent Romney’s plans on destroying a perfectly good house in California and replacing it with a house double that size because of how he raided pension funds and stole cash and charged excessive management fees to companies he and Bain bought that had to go bankrupt because of his unethical business practices.

      He is destroying that house and building a new one with “blood” money he got by destroying thousands of lives – putting them out of work, raiding their pensions, and taking away their health care in the process. Many of those he fired had to file bankruptcy and walk away from their homes.

        He says that there are 47 percent of Americans that are receiving some kind of government check well I am one of these people who get Food Stamps. You say that he lies to use so has President Obama he still hasn’t released his birth certificate to us.

      Let’s be honest – you are receiving more free stuff than just Food Stamps – aren’t you also receiving some kind of state or federal health care without paying premiums for it? Also you are getting prescriptions at a small co-pay. Like me, does your household also receive social security? Don’t get me wrong, Social Security is something we all paid into but it still is a government check, right?

      You are grossly wrong about Obama’s birth certificate. The State of Hawaii has released it. On the other hand, Mitt Romney will not release even 6 years of his tax returns – EVEN THOUGH his own father released 10 years and Mitt Romney made all his VP candidates provide him with 10 years to him so he could pick the right VP candidate. Why won’t Romney release 6 or 10 years? What is he hiding?

        We need another change in this country for 2012 and as for me I haven’t decided who I am going to vote for I wish that there could be a different Demarcate that could run against President Obama. I don’t think that Mitt Romney is the answer either. We do need a change in this country and someone who will stop spending money.

      Regarding spending money – most Republicans, you included, watched and said nothing when Bush took us into two wars – Afghanistan and Iraq – and those wars were not paid for.
      Bush implemented the first Wall Street bailout and no Republicans, you included, griped about that. Bush also implemented the first Medicare Drug program, but again, Republicans, including you, are not griping about that.

      Obama bailed out General Motors and they have paid back that loan in full. If that loan was not made, well over 1.2 million Americans would have lost their jobs.

      Tell me the truth, if there was another Democrat running, would you vote for him because he was not black? Many Republicans hate Obama mostly because he is black.

      Amiee, I believe you are a straight-ticket Republican who goes into the polling booth and pulls one lever – and that is your choice – but that shows me you do not study the candidates – you only vote for one party up and down the lever.

      Finally, Republicans love it that during Bush’s presidency our troops found Saddam in a hole or tunnel and they give Bush a lot of credit for that, but when Obama sent in the Seals to get and kill Bin Laden, they give him no credit at all.

      Here are four quotes by President George W. Bush regarding Osama Bin Laden.

      “The most important thing is for us to find Osama bin Laden. It is our number one priority and we will not rest until we find him.”
      – G.W. Bush, 9/13/01

      “I want justice…There’s an old poster out West, as I recall, that said, ‘Wanted: Dead or Alive,'”
      – G.W. Bush, 9/17/01, UPI

      And finally:

      “I don’t know where bin Laden is. I have no idea and really don’t care. It’s not that important. It’s not our priority.”
      – G.W. Bush, 3/13/02

      “I am truly not that concerned about him.”
      – G.W. Bush, repsonding to a question about bin Laden’s whereabouts,
      3/13/02 (The New American, 4/8/02)
      * * *


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