Will Bain become Romney's bane?
With Florida's Republican primary just weeks away, frontrunner Mitt Romney's taking plenty of heat from competing GOP candidates and others over acquiring a personal fortune while at Bain, a private equity firm he co-founded.
The flap's not just about his reaping hundreds of millions of dollars — extreme sums many might find offensive — derived from Bain's mercenary corporate formula. By buying fatigued businesses (usually with borrowed money), stripping away their costs (including cutting jobs) and repackaging them for future sale, Bain has hit the leveraged buyout lottery for many years.
But while Bain profits, some of the anointed companies end up in bankruptcy.
Bain naysayers argue that's neither capitalism nor a tradition of building jobs for the future.
Column here.
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