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Thursday, May 24, 2012

Those Who Live In Glass Houses...

Obama is attacking Romney over Bain Capital's unsuccessful run with a Michigan auto supplier, Cambridge Industries.  Obama should be careful, because Romney's supporters might start reminding everyone what happened under Car Czar Steven Rattner. 

A very "Private equity" like takeover of GM and Chrysler, under which plants, dealers, and many many jobs were cut, in order to re-organize the companies.  The only difference here is that Rattner was using taxpayer money instead of investor money to back the re-organization, but his goals were essentially the same as Bain's would have been: improve shareholder (taxpayer) value by re-structuring the operations into profitable enterprises. 

1 comment:

Mustafa Tezo said...
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