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Originally Posted by crockett
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This was another leveraged buy out of Baine Capitol.. AKA Mitt Romney the last GOP nomination for POTUS before Trump..
They bought the company via a leveraged stock buy out then sold off profitable sections taking out massive loans on a "formerly" profitable company and then ran it into bankruptcy.
This is 100% Republican brand of business. Pull all the money you can get out of something then leave everyone else holding the bag. It's exactly how Republicans try to run the govt as well..
MRGA Make Republicans Go Away
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I posted about Toys R Us closing on FB and all of my Canadian friends said that Toys R Us Canada is fine.
It seems like the truth might be a combination of both venture capitalists and Amazon.
How vulture capitalists ate Toys 'R' Us
https://www.bloomberg.com/news/artic...-us-bankruptcy
I remember Bain Capital coming up during one of the elections with Mitt Romney. This company - and others like it - are pure evil. They take other people's money, buy a company with financial issues, then charge huge management fees.... Bain Capital wins no matter what. If the company survives, great, if not... Bain Capital still makes their money.
This is exactly what caused the recession. Banks couldn't lose. When you go to the bank for a loan, you aren't getting a loan from the bank but instead you are getting a loan from an investor. If you pay it back or not, doesn't matter to the bank - They made money no matter what.