President Barack Obama Message Board

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Politics : President Barack Obama

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To: tejek who wrote (122026)	9/29/2012 5:02:14 PM
From: mel221	Read Replies (1) of 149317

>> Its called forced obsolescence. Not a thing wrong with that. Great. We are making progress. So a candle making business is still making money, but is enduring forced obsolescence. A Romney type can then buy such a business and try to salvage any value he can. The jobs are lost... its only a matter of time. The Romney type buys the business at an agreed upon price. The seller sees better value for his capital while the Romney type is gambling his capital that he can realize some hidden potential in this obsolete business. All is well. Now, in a dynamic and competitive economy like ours, there are many kinds of obsolescence; Financial, labor, business model, etc. Some company is in decline such that the existing owners are willing to sell at some low price according to someone else's evaluation of hidden potential. You will notice how Bain didn't buy strong companies like IBM and Microsoft. Bain usually buys distressed companies at a discount. In most cases, the jobs are already lost. If the company had greater value, the original owners would not have sold.

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