This is called “vulture capitalism” and it’s not a good thing. Driving a company into the ground and then feeding off it is not capitalism, except in the most distorted of worlds.
And as for sharing with the workers, yes: give them good wages and good working conditions. Why not? Should the few top execs be the only ones to benefit from a good year...they certainly weren’t the only ones who did the work.
I worked for a big financial services company for several years, and they rewarded everybody in the firm, right down to the mailroom, when they did well. What’s wrong with that?
Nothing is wrong with having all workers share in a company’s good business results. In fact, it builds team and commitment.
Bain’s bankruptcy tactic was, in my opinion, illegal. It was not just workers who were injured by their abuse of bankruptcy laws, but also creditors and contractors. All of those took serious losses at pennies on the dollar.
I continue to wonder how Bain Capital controlled these companies but were not liable for their debt out of Bain assets.
How were they able to siphon off millions upon millions in fees from the borrowed money but have to pay with their assets when the bankruptcy was dealt with in court?
Nothing is wrong with having all workers share in a company’s good business results. In fact, it builds team and commitment.
Bain’s bankruptcy tactic was, in my opinion, illegal. It was not just workers who were injured by their abuse of bankruptcy laws, but also creditors and contractors. All of those took serious losses at pennies on the dollar.
I continue to wonder how Bain Capital controlled these companies but were not liable for their debt out of Bain assets.
How were they able to siphon off millions upon millions in fees from the borrowed money but NOT have to pay with their assets when the bankruptcy was dealt with in court?
But that isn't true here. It was mainly a venture capital firm. The Staples investment was just that, as Kleiner Perkins invested in Google early on. I despise Mittens, but Newt never worked an honest day in his life, and it is a little rich for him to tell us when a capitalist makes "too much". No thank you. We need fresh blood in this race. There is plenty to shred Mittens about with his Mormonism, his illegal alien polygamist grandfather, his being an LDS leader at the time they had a viciously racist doctrine, RomneyCare, gay stuff, etc. We don't need these Occupy Wall Street talking points from Gingrich.