By Jordan Weissmann – With Mitt Romney on the march towards the Republican presidential nomination, chances are we’re all going to be hearing a lot about the world of private equity for the next 11 months. The GOP frontrunner is already getting tarred by his primary rivals for his time running Bain Capital, where he helped write the playbook on how to buy up companies, rebuild them for maximum value, and flip them for a tidy profit.
In the nightmares of unions and Occupiers, a private equity buyout works something like this: A firm run by men wearing Brioni suits snaps up a helpless corporation, fires as many workers as it can, lards their new asset up with debt, and then sells it off for as much profit as possible. The employees suffer. The fat cats make bank. more> http://tinyurl.com/6wdhbe7
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- Why Bain Capital’s Targets Went Bust (thedailybeast.com)
- Private-equity industry: A bad rep, but is it deserved? – Los Angeles Times (latimes.com)
- Private Equity: Hero or Villain? (businessweek.com)
- Watch the full 28 minute video of the Bain Capital Story while you can. (iflizwerequeen.com)
- As Romney rises, private equity titans fear spotlight (msnbc.msn.com)
- Dave Helfert: Mitt in the Minefield (huffingtonpost.com)
- Why Romney’s targets went bust so often (professorbainbridge.com)
