OBAMA’S COLLEGE CLASSMATE: ‘THE OBAMA SCANDAL IS AT COLUMBIA’

ZappasGuitar said:
And that's why you posted the link...so you could prove you aren't just another liar.

poor lying Yurt...it just comes naturally to him.
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Yurt said:
i don't really care about the years, but he should release at least the past 5 years. and if it will shut people like you up, then release the past 10.

then again, people like you said obama doesn't need to release his BC. so................
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who is the liar now zappa? lol. you just can't help yourself.
 
Superfreak said:
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.



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)
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Specialty Retailers, acquired in the late 1980s by Bain Capital, was the buyout firm’s most ambitious and risky deal up to that time. Mitt Romney helped arrange $300 million in junk bond financing with Michael Milken’s investment bank.

1988 Bain Capital invests $10 million to create Houston department store chain Specialty Retailers Inc. It borrows $300 million in junk bonds from Drexel Burnham Lambert to finance the deal.

1992 Bain’s first effort at an IPO for the company flops.

1993 Company refinances debt, distributes $80 million to Bain and other investors.

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Oct. 1996 Company changes name to Stage Stores Inc., goes public at $16.50 a share.

1997 New CEO Carl Tooker takes over and in June buys C.R. Anthony Co., a 246-store chain, nearly doubling the size of the company. By September, Bain sells all its shares at $34.88 and leaves the board. Bain makes a $175 million profit on its investment.

1998 The stock keeps rising, and Bain buys back shares, as a minority investment.

June 1, 2000 Stage files for bankruptcy protection, with $445 million in long-term debt.

http://articles.boston.com/2012-06-24/business/32383267_1_junk-bonds-bain-capital-refinances-debt
 
Yurt said:
who is the liar now zappa? lol. you just can't help yourself.
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OMG Yurt told the truth for a change!!


Can my heart stand the strain?


You know if you'd do that more often, people might actually take you seriously once in a while...just sayin.


Oh, and btw...being mistaken isn't the same as being a liar. Not that I'd expect a partisan hack like you to make such a distinction.
 
Aoxomoxoa said:
Specialty Retailers, acquired in the late 1980s by Bain Capital, was the buyout firm’s most ambitious and risky deal up to that time. Mitt Romney helped arrange $300 million in junk bond financing with Michael Milken’s investment bank.

1988 Bain Capital invests $10 million to create Houston department store chain Specialty Retailers Inc. It borrows $300 million in junk bonds from Drexel Burnham Lambert to finance the deal.

1992 Bain’s first effort at an IPO for the company flops.

1993 Company refinances debt, distributes $80 million to Bain and other investors.

pixel.gif

Oct. 1996 Company changes name to Stage Stores Inc., goes public at $16.50 a share.

1997 New CEO Carl Tooker takes over and in June buys C.R. Anthony Co., a 246-store chain, nearly doubling the size of the company. By September, Bain sells all its shares at $34.88 and leaves the board. Bain makes a $175 million profit on its investment.

1998 The stock keeps rising, and Bain buys back shares, as a minority investment.

June 1, 2000 Stage files for bankruptcy protection, with $445 million in long-term debt.
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So you agree, Bain made the company successful. Glad to see you actually educated yourself.

Again, Bain sold before that last debt piece came on, they had made the company successful for a decade, the new owner was also successful but then ran into a problem two years after Bain left.

Bain obviously lost money on their minority stake, but I am sure you will ignore the fact that they bought back in at $53 after selling their last piece at $35. Right Tommy?

What is your point? That a firm tried to make money? That it succeeded in doing so?

Do you think every PE deal is going to remain profitable forever and ever? Without ever having a downturn? Is that what you think?

What of all the above is it that you think Bain did that was wrong?
 
Bijou said:
And sometimes when they "don't make it", they go down in flames after paying the company who claimed to be 'helping' them (Bain) 100 million on a 5 million dollar investment, after loading them with debt then stripping them bare - oh, and laying everyone off.

Tell the whole story, shill. Your apologies and defense of this crap only make you look bad. The verdict's already in on Bain and Romney.
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They what should they do, Bane; when it's found that the business has no way of making it, no matter what they do?
 
Superfreak said:
So you agree, Bain made the company successful. Glad to see you actually educated yourself.

Again, Bain sold before that last debt piece came on, they had made the company successful for a decade, the new owner was also successful but then ran into a problem two years after Bain left.

Bain obviously lost money on their minority stake, but I am sure you will ignore the fact that they bought back in at $53 after selling their last piece at $35. Right Tommy?

What is your point? That a firm tried to make money? That it succeeded in doing so?

Do you think every PE deal is going to remain profitable forever and ever? Without ever having a downturn? Is that what you think?

What of all the above is it that you think Bain did that was wrong?
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Looks to me that Bain were the only ones to make money regardless of the fate of the company. I would be more impressed if they took a hit as well for loading the company with crippling debts.
 
ZappasGuitar said:
OMG Yurt told the truth for a change!!


Can my heart stand the strain?


You know if you'd do that more often, people might actually take you seriously once in a while...just sayin.


Oh, and btw...being mistaken isn't the same as being a liar. Not that I'd expect a partisan hack like you to make such a distinction.
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actually, i always tell the truth.

you're the one who set the standard for a mistake being a lie, not me. further, you called me a liar for not providing a link, that is a lie. i was not a liar.

you're just too full of hate to have a rational conservation with me.
 
Aoxomoxoa said:
Looks to me that Bain were the only ones to make money regardless of the fate of the company. I would be more impressed if they took a hit as well for loading the company with crippling debts.
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Don't forget the times they took govt. grant money, and left the company to wither and die, while taking a profit.

And THAT'S the issue. Bain did everything that Romney rails against.
 
Yurt said:
actually, i always tell the truth.

you're the one who set the standard for a mistake being a lie, not me. further, you called me a liar for not providing a link, that is a lie. i was not a liar.

you're just too full of hate to have a rational conservation with me.
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A lawyer who always tells the truth, now that is definitely a novel concept. They should make a film about that, oh actually they already have.

 
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