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Jul 13, 2018 19:05:20   #
moldyoldy (a regular here)
 
bahmer wrote:
Romney would usually but a business that was losing money and then borrow against that and make the company profitable and then sell it.


I guess this is a time when we can both be right.


Stephanie Vardavas, does not consider politics a spectator sport
Answered Jul 22, 2015




I would say that private equity is amoral, not immoral, and certainly not illegal.

I'm not sure how I feel about the ethics of it.

Private equity typically works by buying a business, installing new management with no history in the company, retooling it to cut costs and shear off "underperforming" segments and subsidiaries, and then taking it public. The cost cutting often involves very aggressive outsourcing and layoffs. This can destabilize a community or even a region as workers lose their jobs, often with few additional job resources in the area. Often the company was not unprofitable before private equity got involved. Sometimes it was profitable for years, but a founder or a founder's heir needed to sell because the next generation was uninterested, or for some other reason.

The management of a business owes a duty to the shareholders, to maximize the value of their investment. The new managers that came in with private equity have no roots in the community and are already looking forward to the next deal. They don't care about the destabilization of the community or the displaced workers. It's not their job to care about those things.

But it is a President's job to care about those things. So leaving aside concerns about ethics, I'd say a career in private equity is poor preparation for the Presidency, and let it go at that.
2.4k Views · View Upvoters


Another view.

https://truthout.org/articles/romneys-success-at-bain-capital-the-scam-as-business-model/

https://trofire.com/2012/11/01/matt-taibbi-romney-business-model-create-mountains-of-debt-for-others-to-pay-off/

| Reply
Jul 14, 2018 10:42:53   #
bahmer (a regular here)
 
moldyoldy wrote:
I guess this is a time when we can both be right.


Stephanie Vardavas, does not consider politics a spectator sport
Answered Jul 22, 2015




I would say that private equity is amoral, not immoral, and certainly not illegal.

I'm not sure how I feel about the ethics of it.

Private equity typically works by buying a business, installing new management with no history in the company, retooling it to cut costs and shear off "underperforming" segments and subsidiaries, and then taking it public. The cost cutting often involves very aggressive outsourcing and layoffs. This can destabilize a community or even a region as workers lose their jobs, often with few additional job resources in the area. Often the company was not unprofitable before private equity got involved. Sometimes it was profitable for years, but a founder or a founder's heir needed to sell because the next generation was uninterested, or for some other reason.

The management of a business owes a duty to the shareholders, to maximize the value of their investment. The new managers that came in with private equity have no roots in the community and are already looking forward to the next deal. They don't care about the destabilization of the community or the displaced workers. It's not their job to care about those things.

But it is a President's job to care about those things. So leaving aside concerns about ethics, I'd say a career in private equity is poor preparation for the Presidency, and let it go at that.
2.4k Views · View Upvoters


Another view.

https://truthout.org/articles/romneys-success-at-bain-capital-the-scam-as-business-model/

https://trofire.com/2012/11/01/matt-taibbi-romney-business-model-create-mountains-of-debt-for-others-to-pay-off/
I guess this is a time when we can both be right. ... (show quote)


Everyone has an opinion but I believe that ones religion may help in making decisions along these lines. I depends on how you justify things in your life and by what rule you use to justify your decisions.

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Jul 14, 2018 20:10:36   #
moldyoldy (a regular here)
 
bahmer wrote:
Everyone has an opinion but I believe that ones religion may help in making decisions along these lines. I depends on how you justify things in your life and by what rule you use to justify your decisions.


I am not a religious person, I have witnessed too many fakes. But shouldn't religion make you take ethical stands, or care about your fellow man.

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Jul 14, 2018 20:47:35   #
JFlorio (a regular here)
 
moldyoldy wrote:
I am not a religious person, I have witnessed too many fakes. But shouldn't religion make you take ethical stands, or care about your fellow man.


Gee we’d have never guessed. Religion is mans way to reach out to God. The Bible is God’s way to reach man. I know this won’t make a dent.

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Jul 14, 2018 20:50:59   #
lindajoy (a regular here)
 
old marine wrote:
Good morning lindajoy I usually get up around 04:00 but my 🐺🐱 usually wake me up wanting me to get up and feed them.

Once up I can't go back to sleep. So I make coffee and sneak a cigarette or two before mother Nurse gets up and comes down stairs to boss me around.

Then I go out on the eastern porch and enjoy the cool early morning breeze as it gently blows through the sweet smell of the tall pine trees as I wait for another one of God's beautiful sunrise to start.

How much more can a man be blessed than this?

God bless you lindajoy and thank you for making my day brighter.😘😆😎
Good morning lindajoy I usually get up around 04:0... (show quote)


Same here, once up that’s it... You describe a setting worth seeing that’s for sure!! I’d be out there with you enjoying every minute.. Love when there’s a bit of a chill, sipping that fresh brewed coffee watching the world wake up..Spectacular time to simply appreciate the beauty around us...

God Bless you, Mother Nurse and everyone... Thank You for simply being you and brightening everyone’s day..

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Jul 14, 2018 21:44:15   #
lindajoy (a regular here)
 
old marine wrote:
Oh my how you do go on lady, U just make this ole country boy blush. 😉


I bet you don’t blush over much..,

Too cute you are!’

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