The Mudcat Café TM
Thread #127931   Message #2858451
Posted By: Q (Frank Staplin)
07-Mar-10 - 01:14 PM
Thread Name: BS: Romney and Bain Capital and Bain & Co.
Subject: BS: Romney and Bain Capital and Bain & Co.
I was listening to TV this morning and heard Milt Romney on Fox, attacking Omama and the health care proposal passed in the Senate.

Romney sounded like he will again try for the presidential nomination in the next campaign.

I had heard about these two venture capital, credit, hedge fund, equity and (Bain & Co.) restructuring management companies, owned in part by Romney, but was unaware of their size and importance.

Bain Capital was founded by Milt Romney, T. C. Andrews and Eric Kneiss in 1984. Its present worth is some $90 billion. It owns or controls such diverse companies as Styron (makes polystyrene and latex), AMC Entertainment, Hospital Corporation of America, Warner Music, Domino Pizza, Guitar Center, Home Depot, Sensata (sensors, power controls, etc.) and several large concerns in Europe and Africa.

Romney originally was a partner in Bain & Company, but resigned with the formation of Bain Capital; he returned as CEO for one year to engineer a massive restructuring of the company.
The company has worldwide offices (in Canada, Toronto; Bain & Co. Inc.) and acquired a share in Del Monte Foods when it was restructuring that company. Romney's stake in this company is difficult to determine.

Milt Romney will have no money problems if he decides to run again.

Information from several sources, including Wikipedia, which has a good summary on Bain Capital.