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Politics : Politics for Pros- moderated
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To: Sr K who wrote (507277)9/9/2012 11:51:28 PM
From: i-node2 Recommendations  Read Replies (1) of 793900
 
Matt Taibbi is a clueless dolt.

Take the following comment:

"You invest in a PE deal to make money – not to grow businesses. And not to create jobs."
What he apparently misses is that the way the PE firm makes money is by growing the business. They may get up-front money, after all, they're walking into a situation the investee/acquiree has already deemed untenable. That's SOP for attorneys, CPAs, everyone involved.

So the PE firm gets some money up front but the motivation is the big payoff if you make a success of it. That's what Bain was motivated to do, not to just take whatever it could get and run.

Besides all that, they had a pretty damned impressive record. To walk into a sputtering business and turn it around is not always an easy thing to do. It isn't like Restaurant Impossible, where you show up for 2 days and dump 10 grand into it and all is well. There are immense risks of immense amounts of capital and most are going to be failures no matter what.
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