The companies Bain Capital invests in are ones with a good idea or product, lousy management, a bad business model, no business plan and/or poor staffing. They do not use public money for their turnaround aquisitions but rather go to a pool of private individuals, funds or investment groups who want a good return on their investment and are willing to assume some risk. Bain Capital, contrary to campaign rhetoric, has earned a good record of protecting and growing investor monies. That protection requires that each of the acquired properties be evaluated, reorganized and waste eliminated.
More often than not, the top management suffers from streamlining as much or more than the poor guy on the shop floor. Each person gets an evaluation that compares wages earned against value of the service provided. I would love to see that concept applied to our public sector government workers.
We have seen commercials with two steelworkers in Iowa who lost their jobs when Bain Capital failed to turn their company around. What is not said was that both guys got about six years of additional employment. Thank you, Bain! What is also not said is that three sister companies survived as a result of their consolidation.
Many of us have lost jobs and found it reassuring to believe it was someone else's fault. Reality is that they got along without our service and that is just the way it works. Companies like Bain Capital know who the producers are and who are the "hangers on." A valuable employee isn't just thrown out with the mopes because relocating an asset is better business than the risks involved in finding someone else.
The class warfare we see in the current political campaign, demonizes "The Man" by warping the facts to fit an agenda. A way to judge political claims might be to listen for "I know that" as opposed to "I feel that." As Sgt. Joe Friday used to say, "Just the facts, ma'am." Then verify that they are actually facts. Politicians never know for sure.
Answer Book 2018
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