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NEWS ABOUT: Bain Capital

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Private Equity Can Ruin Firms —and Still Profit

Tax loopholes, money tricks benefit bosses like Mitt Romney: James Surowiecki

(Newser) - Mitt Romney's opponents have slapped Bain Capital over layoffs, but private equity actually has little overall effect on job numbers. Instead, the crimes of such companies are centered on the way they make money, writes James Surowiecki in the New Yorker . What we should be concerned about is the... More »

Hey GOP, You're Re-Electing Obama

Candidates have given life to his class warfare spiel: Charles Krauthammer

(Newser) - President Obama just may find himself chuckling all the way to re-election, all because Republicans borrowed one of his weapons and turned it against themselves, writes Charles Krauthammer in the Washington Post . Obama and the Democrats had been trying without much luck to make a "class-war narrative" stick. Then... More »

Romney Should Be Proud of Bain Work

Bain and companies like it saved America: Daniel Henninger

(Newser) - Mitt Romney shouldn't distance himself from his work at Bain Capital during the 1980s, writes Daniel Henninger at the Wall Street Journal . In fact, he should embrace it, because Bain and companies like it rescued the country. Forget the caricatures of 1980s Wall Street as the decade of greed.... More »

Mitt Romney Keeps Millions in Cayman Islands

Campaign defends offshore investments

(Newser) - Yet more money trouble for Mitt Romney: His campaign has been put on the defensive by reports that he has millions of dollars stashed in a Caribbean tax haven. Romney has around $8 million invested in a dozen funds based in the Cayman Islands, and another investment worth between $5... More »

Romney's Bain Gave Millions to Mormon Church

Including $1.9M in Burger King stock; was part of his tithing

(Newser) - If Mitt Romney does lift the veil on his tax returns, one thing that voters will get a look at is how much he gives to the Mormon church, and the answer might be a lot more than anyone thought. ABC News finds that Bain Capital routinely cuts the Church... More »

Romney Says His Tax Rate Is 'Closer to 15%'

Most of his income taxed as 'capital gains'

(Newser) - Mitt Romney has been evasive about releasing his tax returns , and today he hinted at why, saying in a press conference that his effective tax rate is "probably closer to the 15% rate than anything." That means that most of Romney's earnings—which largely still stem from... More »

Mitt Romney's Biggest Donors? Bain Capital

Bain-related donors have given more than $2.7M over the years

(Newser) - When Mitt Romney ran Bain Capital, his leadership made billions of dollars for the investment firm. And Bain Capital's associates have supported Romney's political ambitions in turn, giving nearly $3 million to his state and national campaigns—a sum that easily makes them Romney's largest group of... More »

Newt Wants Super PAC to Pull False Bain Attacks

Anti-Romney documentary gets taken to task by fact-checkers

(Newser) - Newt Gingrich today called on the super PAC supporting him to stop airing ads springing from its 29-minute documentary-style infomercial bashing Mitt Romney's Bain Capital tenure , which has been savaged by fact-checkers. "It's important why my campaign is different than some other people's campaigns," Gingrich... More »

Romney's Bain: Job Creator or Destroyer?

Private equity becomes a hot button on the campaign trail

(Newser) - Now that Newt Gingrich's documentary is out , the political world is abuzz with talk of Mitt Romney's Bain Capital tenure, and whether it's gold-plated proof he's a "job creator," or a massive political liability. Here's what they're saying:
  • Bain has been knocked
... More »

Pro-Newt PAC Unleashes Anti-Romney Documentary

28-minute film unloads on frontrunner over his days at Bain Capital

(Newser) - Mitt Romney's Bain Capital troubles got a lot more high-profile today. The pro-Gingrich PAC Winning Our Future released a 28-minute video (see it here) that depicts Romney and his former Bain compatriots as greedy job-killers, complete with dramatic music and interviews of those said to have lost their jobs... More »

Republicans, Stop Bashing Romney for His Work at Bain

Newt Gingrich and company should know better: National Review

(Newser) - The conservative National Review comes to Mitt Romney's defense over his work at Bain Capital. His Republican rivals are in a "perverse contest" to see who can paint his tenure at the private equity firm in the most "asinine" and evil terms, complain the editors. "To... More »

Romney in Hot Water Over 'I Like to Fire People' Quote

He may end up regretting health care observation

(Newser) - Whoops: Mitt Romney is probably wishing he had found a slightly different way to word this sentiment that's making the rounds. "I like being able to fire people who provide services to me," he said at a campaign event in New Hampshire today. Romney was discussing the... More »

Romney's Bain Had Loads of Profit, Bankruptcies

Wall Street Journal says Romney's firm didn't always turn things around

(Newser) - Mitt Romney has touted his time at Bain Capital as proof that he's the "turnaround artist" America needs, but an analysis of the companies he took over shows that may not be entirely true. The Wall Street Journal looked at 77 businesses Bain invested in under Romney's... More »

Mitt: I Won't Release My Tax Returns

Obama campaign blasts Romney for keeping returns secret

(Newser) - Mitt Romney says that even if he becomes the Republican nominee, he has no intention of releasing his tax returns, reports the New York Times . Romney—one of the richest men ever to run for president—would be alone among nominees of recent decades if he fails to release his... More »

Romney Rakes In Millions From Bain Yearly

He benefits from deals that led to massive layoffs: NYT

(Newser) - When Mitt Romney has been challenged over layoffs tied to Bain Capital's private equity deals, he's pointed to his 1999 departure from the firm he helped found. But even though he has technically left his old job, he's still reaping the benefits—to the tune of millions... More »

Obama Has More Wall St. Cash Than GOP Candidates

Obama, DNC pulling in more cash ... even from firm Romney founded

(Newser) - Despite his moves to tighten regulation of the financial sector, President Obama has more Wall Street money in his war chest than all of the Republican hopefuls combined, the Washington Post finds. Obama's campaign has received $3.9 million in donations from employees of financial firms, compared with $7.... More »

Lehman's Asset Management Arm Sold on Cheap for $2B

Prestigious Neuberger Berman goes to 2 private equity firms

(Newser) - Two private equity firms will acquire Neuberger Berman, the largest and most prestigious component of Lehman Brothers, for $2.15 billion. Bain Capital and Hellman & Friedman will pay in cash for the wealth management firm—an indication of just how stultified credit markets have become. Only a month before... More »

Weather Channel Sells for $3.5B

NBC, Blackstone, and Bain score cable stalwart for far under expected $5B

(Newser) - NBC is heading an investor group that will buy the Weather Channel for nearly $3.5 billion—well below the $5 billion Landmark Communications was expecting when it put the iconic cable channel up for sale in January. The group, which includes private equity firms Bain Capital and the Blackstone... More »

Celtics Win Ripples Across Globe

Boston's championship watched from London to Shanghai

(Newser) - As the buzzer sounded last night, giving the Boston Celtics the NBA Championship over the Los Angeles Lakers, it wasn't heard only in Beantown. All over the world, from London to Shanghai, basketball fans watched the Celtics take home their 17th Larry O’Brien Trophy. "It’s a global... More »

Clear Channel, Buyers Sue Banks Over Soured Deal

Equity firms claim lenders backtracked on financing takeover of broadcast giant

(Newser) - The two private-equity firms set to buy Clear Channel sued the group of banks they had engaged to fund the deal, the Wall Street Journal reports. Joined by Clear Channel, Bain Capital and Thomas H. Lee Partners accused the consortium—including Citigroup, Deutsche Bank, and Wachovia—of breaching contract by... More »

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