Friday, September 28, 2012

Romney 1985 video: "Harvest" companies for profit

Those who still believe Romney believes he was doing good for companies at Bain Capital should take a look this video where he nakedly explains that his business investments are to harvest profit and value (aka loot)  from target companies.

Romney knew what he was doing, and understood from the very beginning that he was a predator not a manager, a consumer of wealth, abd not a producer of wealth except for his investors.  Bain Capital also turned companies over much faster than the 5-8 years he foresees, but he probably couldn't sell a shorter time frame to investors in 1985.  Remember that Bain's consulting model was that they only worked for one company in an industry.  In order to not hurt that business, they would need to invest in the competitors of their clients, which would give them an ultimate customer for the companies they were flipping, that is to say, their consulting clients.  That's why Bain had a "proprietary" edge in identifying targets.

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