Cancel 2016.2
The Almighty
If those companies had gone bankrupt and you have no way of knowing that, then I am sure they would have been able to give their redundant employees a decent payoff. Having crippling debts added to their books ensured that the only winners were Bain and Romney. Romney learnt all his tricks from that crook Michael Milken who invested $300 million in Bain.
Tell me Tommy boy... do you actually read the links you provide?
1) Bain got financing via Drexel. Milken did not invest in Bain. Drexel/Milken invested (via their bondholders) in the debt structure of Stage Stores.
2) The deal was done in 1988. Bain sold its position in 1996 and 1997 at $35 or less. The stock continued rising into 1998 to $53. (still successful even after Bain was gone) The success enticed Bain to reinvest in 1998 at $53. Then the company began to struggle.
“Stage Stores was a growing, successful, and consistently profitable company during the nine years we owned it,” Bain said in a statement. “Unfortunately, the company ran into operating problems three years after we sold our controlling interest, and we were as disappointed as anyone to see that happen.”
Imagine that, a company in the late 90's expansion in the US started to struggle in 99 and 2000 as the market began to implode. Wow.
Tell us Tommy, if Bain had pumped and dumped the stock as alleged...
Why would they sell at $35 and under and then rebuy at $53???
yeah, thanks for once again proving you are relying on talking points all the while ignoring the facts... the facts like the larger of the two chains was struggling when Bain took them over (which is common of PE investments)