Bain Capital

[chris perry]

http://www.youtube.com/watch?feature=player_embedded&v=BLWnB9FGmWE#!

 

[TWU informer]

http://www.youtube.com/watch?feature=player_embedded&v=BLWnB9FGmWE#!

In contrast the 2003 Employee Concessions and the Corprate Welfare strategy of American Airlines was designed to "Save Jobs".

Now look where we are. Have not made a dime since.

There cannot be a hybrid Socialism/Capitalism economy, or a hybrid corporate structue for that matter.
It has to be one way or the other.

Politicians in general make decisions that negatively impact the good of the country to insure jobs are not lost so a high unemployment rate does not get them thrown out of office. Seems Corporate America is emulating that thought process in exhange for the Corporate Welfare.

Basically that leads to the whole economy resting on the shoulders of a foundation made from tiddly winks and tooth picks.

The only Politician I have heard with a plan to revive manufacturing and create jobs the old fashion way is being demonized by the media and the cash flow that controls the outcome is not going his way.

In the end, those with the cash eliminate the reasonable candidates before you and I even get a voice in the decision making process.
So we are left with evil and evil to choose from.

 

[dfw gen]

its amazing gingrich has the moral compass of a hooker on harry hines in the middle of January. ready to jump in any car for a price. romney wants to be president of the USA and has so much confidence in the country that he invests in the cayman islands. he has the nerve to say when there are opportunities to save (cheat) on taxes, like every American i take advantage of it. and people actually will vote for them. I know the democrats are just as bad. just not as blatant.

 

[Buck]

its amazing gingrich has the moral compass of a hooker on harry hines in the middle of January. ready to jump in any car for a price. romney wants to be president of the USA and has so much confidence in the country that he invests in the cayman islands. he has the nerve to say when there are opportunities to save (cheat) on taxes, like every American i take advantage of it. and people actually will vote for them. I know the democrats are just as bad. just not as blatant.

I disagree on two points.

1: I do not believe Romney is "investing" in the Cayman Islands.

2: The Democrats are just as blatant. They are both crooks.

 

[FWAAA]

Agreed. Didn't hear anyone from organized labor criticizing Chelsea Clinton's choice of employers, either McKinsey & Company (corporate consultants) or Avenue Capital Group (private equity/hedge fund, not unlike Bain). Not a peep about Chelsea's husband's employers, including Goldman Sachs (investment bankers) and 3G Capital Management (private equity fund).

 

[Mr Red]

I disagree on two points.

1: I do not believe Romney is "investing" in the Cayman Islands.

2: The Democrats are just as blatant. They are both crooks.

You dont invest there, you hide money!!

 

[chris perry]

Agreed. Didn't hear anyone from organized labor criticizing Chelsea Clinton's choice of employers, either McKinsey & Company (corporate consultants) or Avenue Capital Group (private equity/hedge fund, not unlike Bain). Not a peep about Chelsea's husband's employers, including Goldman Sachs (investment bankers) and 3G Capital Management (private equity fund).

Yes I haven't got to Gupta yet and his former Firm or the others yet,they all are a bunch of crooks...Ron Paul is not so popular because he has the balls to tell it like it is....Clinton and company well we all know what a liar he is... Does that cover it?

 

[Bob Owens]

In contrast the 2003 Employee Concessions and the Corprate Welfare strategy of American Airlines was designed to "Save Jobs".

Now look where we are. Have not made a dime since.

Hmmm, in our class and craft we had over 16000 in 2003 (more if you count the dead right?) now we have 11000. When we had 16000 they brought in less than $18 billion, now with 11000 they bring in over $24 billion. In other words they not only got rid of a lot of jobs but they bring in a hell of a lot more money. Don't confuse showing profits with making money, AA is making a lot of money, they just let the profits show up elsewhere, so they don't have to share it with us. How many consulting firms have they hired this week?

 

[787nightmare]

You dont invest there, you hide money!!

But is it illegal??
No...
And he ain't the only one doing it either, trust me.

 

[tech2101]

What does this have to do with AA? Did he raid AA?

I was at NWA when Checchi and company used the assets of NWA to suck it dry with their LBO. Very similar to what Bain Capital did/does.

Checchi led a leveraged buyout of the airline, saddling it with more than $3 billion in debt. Or that the airline came within hours of bankruptcy in 1993, and was saved at the last minute only because its unions agreed to eat more than $800 million in salary and benefit cuts.

snip...

"I think you find a lot of people that just resent somebody being financially successful," he says.

Checchi's own financial health, however, is one of the few things that he did not risk at Northwest. An adept financier, Checchi put less than $10 million of his cash into the $3 billion-plus takeover -- less than one-third of 1 percent of the purchase cost -- and recovered his money almost instantly. If the airline had tanked, Checchi and his buddies stood to lose little or none of their own investments. Other people put up the cash. Checchi provided the blue skies.

The takeover of Northwest Airlines that Al Checchi spearheaded in 1989 holds a modest place in history. It was the last of the big leveraged buyouts of the 1980s, a capstone for the free enterprise facade that hid the decade's construct of unbridled greed.

Link

 

[FWAAA]

What does this have to do with AA? Did he raid AA?

American Eagle has hired Bain to advise it and the TWU filed an objection to the Bain fees with the bankruptcy court. In the TWU's objection, there were no cases or other legal authorities cited. The only citation in the objection was to a Washington Post column or editorial that criticized Romney and, of course, was about Romney's former position as head of Bain.

http://www.tulsaworld.com/business/article.aspx?subjectid=45&articleid=20120121_45_E1_CUTLIN17550

 

[tech2101]

American Eagle has hired Bain to advise it and the TWU filed an objection to the Bain fees with the bankruptcy court. In the TWU's objection, there were no cases or other legal authorities cited. The only citation in the objection was to a Washington Post column or editorial that criticized Romney and, of course, was about Romney's former position as head of Bain.

Thank you for the information.

Do you mean the editorial cited by the TWU does not hold weight in the case?

That is embarrassing.

 

[FWAAA]

Credit for the catch goes to TWU Informer - he posted the link to the TWU's objection. It was basically "The fees are too high."

 

[737823]

Hmmm, in our class and craft we had over 16000 in 2003 (more if you count the dead right?) now we have 11000. When we had 16000 they brought in less than $18 billion, now with 11000 they bring in over $24 billion. In other words they not only got rid of a lot of jobs but they bring in a hell of a lot more money. Don't confuse showing profits with making money, AA is making a lot of money, they just let the profits show up elsewhere, so they don't have to share it with us. How many consulting firms have they hired this week?

Bob, sometimes you're so disillusion its frightening for the welfare of your membership. AA is not hiding profits or "cooking the books", their financial statements, like all other publicly traded corporations are professionally audited. But go right along and spread misinformation to mislead others.

Josh

 

[FWAAA]

Bob, sometimes you're so disillusion its frightening for the welfare of your membership. AA is not hiding profits or "cooking the books", their financial statements, like all other publicly traded corporations are professionally audited. But go right along and spread misinformation to mislead others.
Josh

Bob's not saying that AA is "hiding" profits or cooking books. His typical response will be that AA is paying, without objection, the fuel providers, the airport authorities (rent and landing fees), the airplane makers (ignoring that new 738s pay for themselves thru fuel and maintenance savings) and then he'll throw in the catch-all "they're wasting money buying Goldhoffers, painting the carts, etc., and building Taj Mahal-style terminals.