posted on Sep, 12 2012 @ 02:15 PM
I've said this before - probably worth posting again.. just because.
I actually did a bit of research on this and found a pretty good article on Romney's time at Bain from the Wall Street Journal.
It seems (at least to me) to be a fairly balanced article.
So,it should be sure to make both the anti and the pro Romney people here angry.
Romney at Bain: Big Gains, Some Busts
The Wall Street Journal, aiming for a comprehensive assessment, examined 77 businesses Bain invested in while Mr. Romney led the firm from its
1984 start until early 1999, to see how they fared during Bain's involvement and shortly afterward.
Among the findings: 22% either filed for bankruptcy reorganization or closed their doors by the end of the eighth year after Bain first invested,
sometimes with substantial job losses. An additional 8% ran into so much trouble that all of the money Bain invested was lost.
Another finding was that Bain produced stellar returns for its investors—yet the bulk of these came from just a small number of its investments. Ten
deals produced more than 70% of the dollar gains.
10 businesses out of the 77 reviewed produced significant dollar gains. In addition, many went bankrupt or ran into trouble later on.
The net on those 10 is shown below.
The article goes into some detail and it does mention that many of the later bankruptcies are clustered in the economic downturn.
I guess how he did depends on how and what you measure.
Did Bain make money? Yes, lots of it. Many of Bain's firms were not "winners" but those few that were winners made Bain lots of money.
Did Bain build long term, successful companies? Not too many. It had more flops than winners by a good margin
So, if he runs America like a business then it depends - what is the goal of the business of America Co. to Romney?