Romney's Bain Capital Business Practices
Overview of this ControversyDate Originated:
December of 2011Categories: Jobs
, Mitt Romney
, Big Businesses
& Financial IndustryFrom 1984 to 1999, Romney was CEO of a company called Bain Capital, a private equity investment firm. The firm's main focus is on selling various management and business model techniques to both failing and start-up companies in exchange for large sums of money. With Romney's recent campaign success, the news has spread about the 'questionable' ethics of Bain and its practices. Bain and Romney both have been called 'vulture capitalists', where many speculate that Bain's focus was not on fixing companies, making them better or saving jobs, but strictly on making money, and lots of it. Millions, which quickly turned into billions. Many of their investments were done on borrowed money against assests of the company they were trying to fix, meaning that Bain did not stand to lose, if the company turned around or not. They still collected no matter what.Source: http://www.npr.org/blogs/itsallpolitics/2012/01/10/144938684/rivals-attack-romney-s-recor...