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Romney as a job-killing economic `vampire'


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In reply to an earlier post on May 14, 2012 3:12:13 PM PDT
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In reply to an earlier post on May 14, 2012 3:13:41 PM PDT
Paul Crow says:
You believe what you want. You always do.

Posted on May 14, 2012 3:15:30 PM PDT
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In reply to an earlier post on May 14, 2012 3:18:30 PM PDT
On Page 47 of "The Oil Barons: Men of Greed and Grandeur (1971) Oil Barons , Richard O'Connor paraphrased Honoré de Balzac and wrote: "Behind every great fortune there is a great crime." This may apply to the corporate-raider-plunderer Romney.

There is also Matthew 19:24. On Page 174 of In The Life of Jesus , Marcello Craveri translated it as:

<<it is easier for a cord ['kamilos' and not 'kamelos,' which means "camel"] to pass through the eye of a needle than for a rich man to enter the kingdom of heaven.>>

According to Craveri the transliterated Greek 'kamelos' (camel) was originally 'kamilos' (cord/rope). It seems quite plausible that a copying error occurred at some point in time.

Posted on May 14, 2012 3:37:23 PM PDT
Georgedc says:
Bain Capital = Job killer

Romney = Job Vampire

Can you say it?

:)

In reply to an earlier post on May 14, 2012 3:45:41 PM PDT
Last edited by the author on May 14, 2012 3:55:03 PM PDT
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In reply to an earlier post on May 14, 2012 3:57:13 PM PDT
'...are not human. They are run by blood-sucking monsters with no regard for their captive members.'

Yes shocking what the Romney thugs will do:

'Instead of conducting a roll call vote, which is required by Party rules, the chair asked for a voice vote for a predetermined delegate slate that was favorable to Mitt Romney, despite objections from the floor. The reason provided for this decision according to the chair, apparently oblivious to influence from the audience, was that `It was the way they always did it'. This appears to be a clear case of Establishment GOP corruption because the insiders wanted to select a slate of delegates that was not supported by the majority of attendees at the convention.'

http://www.examiner.com/article/gop-establishment-makes-a-mockery-of-the-democratic-process-oklahoma

In reply to an earlier post on May 14, 2012 4:43:25 PM PDT
S. Evans says:
CS: "Newt Gingrich assailed Mitt Romney's business background of buying and selling companies at the investment firm Bain Capital, saying Sunday afternoon that the work was comparable to "rich people figuring out clever legal ways to loot a company.""

Exactly. It's just an honorable way to redistribute wealth, to the conservatives.

In reply to an earlier post on May 14, 2012 4:45:28 PM PDT
SK says:
Interesting slide show of data.

http://www.romneyeconomics.com/gst/gst-steel-slide-01

In reply to an earlier post on May 14, 2012 4:45:32 PM PDT
Kilgore says:
didn't you know white collar crime is tolerated in the u.s. look at the governor of florida.

In reply to an earlier post on May 14, 2012 4:59:31 PM PDT
S. Evans says:
J. Wease says: "Unions are not human. They are run by blood-sucking monsters with no regard for their captive members."

Wow. Sounds like a heavy bag of bitter grapes there. Whazzamatta, jealous?

In reply to an earlier post on May 14, 2012 5:18:59 PM PDT
SK says:
http://www.reuters.com/article/2012/01/06/us-campaign-romney-bailout-idUSTRE8050LL20120106?irpc=932

... Bain got its money back quickly. The new company issued $125 million in bonds and paid Bain a $36.1 million dividend in 1994.

"Paying distributions with debt is not uncommon," said Campbell Harvey, a finance professor at Duke University. "The only thing that strikes me as a bit unusual is the size of the dividend. There would be logic in them saving some cash for a downturn."

Looking back on the dividend payout, Stutz and another former GS Technologies officer, Mario Concha, believe it weakened the mill's financial position.

...Already, though, there were warning signs that the company was not on a sustainable course. Concerned about the level of debt, which totaled $378 million in 1995 on operating income less than a tenth of that amount, the merged company's new CEO, Roger Regelbrugge, negotiated a clause in his contract that would allow him to retire at the end of 1997 ...
As GS Industries sought to cut costs, it hired line managers with no experience in the steel industry, workers said. One had worked at Walmart; many others came straight out of the military.

"He would come up with some of the stupidest damn ideas that you ever seen," the former steelworker Linson said of one supervisor, a retired Air Force colonel.

Paperwork proliferated. Cost-cutting efforts backfired. Managers skimped on purchases of everything from earplugs to spare motors and scaled back routine maintenance. Machines began to break down more often, and with parts no longer in stock a replacement could take days to arrive.

Labor costs spiked as managers revamped work schedules with little understanding of how the plant actually operated. Linson says he picked up an entire shift of overtime each week because his managers didn't realize that a furnace needed a full eight hours to heat up to operating temperature. ... snip

In reply to an earlier post on May 15, 2012 1:41:04 AM PDT
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Posted on May 15, 2012 2:06:42 AM PDT
Mike says:
Soylent Green is people. Not Corporations.

In reply to an earlier post on May 15, 2012 2:18:23 AM PDT
Paul Crow says:
Unions are groups of people. Usually, they consolidate their voices to their mutual benefit, kinda like democracy. Actually, just like democracy.
===============================
yes, the mutual benefit of the union, not the company, not the consumer, not the country.

In reply to an earlier post on May 15, 2012 2:23:20 AM PDT
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In reply to an earlier post on May 15, 2012 2:30:57 AM PDT
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Posted on May 15, 2012 2:35:56 AM PDT
Mike says:
I agree that unions have done some bad things. For many years Management let them get away with far too much and unions became too strong.

At the same time I worry about going to far toward the opposite extreme because I think that Companies will take advantage of it. I like having non union companies having to consider the impact of their decisions on whether it they would cause a union movement.

In reply to an earlier post on May 15, 2012 3:33:39 AM PDT
Moderate says:
I agree that unions have done some bad things. For many years Management let them get away with far too much and unions became too strong.
------------------------
my mother's husband was a teamster who worked the warehouse on the docks. The union went on strike every 4th year. They were our 2-3 months. They would get their raise and it would take them 4 years to catch up with the money they lost while out on strike. Just then, the union went out on struck again. this happened every 4 years he worked there.

sure, they got a raise every new contract. But were always behind the cart.

Posted on May 15, 2012 3:51:09 AM PDT
WildOat says:
Sometimes I wish the banks would fail and everything would crash. Then guys like Romney and the rest of the 1% would be in the same boat as the rest of us. Poor Babies.

In reply to an earlier post on May 15, 2012 7:54:50 AM PDT
The Free Plunder System is truly amazing--the staggering amounts of money that the present governor of Florida plundered facilitated the purchase of the office.

In reply to an earlier post on May 15, 2012 8:04:39 AM PDT
Last edited by the author on May 15, 2012 8:32:09 AM PDT
SK wrote:
<< http://www.reuters.com/article/2012/01/06/us-campaign-romney-bailout-idUSTRE8050LL20120106?irpc=932

... Bain got its money back quickly. The new company issued $125 million in bonds and paid Bain a $36.1 million dividend in 1994.>>

As I understand it, Bain's standard operating procedure was to plunder companies by charging exorbitant "management fees." Did the $36.1 million include any "management fees," or was it all dividends, or were there "management fees" in addition to this amount?

Posted on May 15, 2012 8:26:14 AM PDT
SK says:
Slate.com:

House Speaker John Boehner has no regrets about the economy destroying debt ceiling showdown that happened last year. On the contrary, speaking at the Peterson Foundation's fiscal summit he promised to do it all over again an essentially unlimited number of times, arguing that the principle of $1 in spending cuts for every $1 in new borrowing authority is a good one.

In reply to an earlier post on May 15, 2012 8:34:35 AM PDT
[Deleted by Amazon on Jun 4, 2012 12:58:16 PM PDT]

In reply to an earlier post on May 15, 2012 8:40:36 AM PDT
Ice King says:
That's not surprising, Boehner is an orange sociopath with no remorse and an inability to even say the word "compromise".
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Discussion in:  Politics forum
Participants:  22
Total posts:  56
Initial post:  May 14, 2012
Latest post:  May 15, 2012

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