The Corner

DNC Hits Romney’s Bain Record

In a new web ad, the Democratic National Committee attacks Mitt Romney’s record at Bain Capital. The ad quotes CNN anchor Anderson Cooper saying, “ Remember, the 100,000 jobs created is a figure that includes all the growth at Staples, Domino’s, and Sports Authority long after Mitt Romney had anything to do with them, whereas the job losses are directly connected to his tenure.” Worth consideration is Ramesh’s tweet from Saturday night: “Somehow I think if companies stopped hiring people after Bain’s involvement was over, that would be counted against Romney.” Watch the ad below.

This morning, the Wall Street Journal offers a more thorough analysis of Romney’s time at Bain:

The Wall Street Journal, aiming for a comprehensive assessment, examined 77 businesses Bain invested in while Mr. Romney led the firm from its 1984 start until early 1999, to see how they fared during Bain’s involvement and shortly afterward.

Among the findings: 22% either filed for bankruptcy reorganization or closed their doors by the end of the eighth year after Bain first invested, sometimes with substantial job losses. An additional 8% ran into so much trouble that all of the money Bain invested was lost.

Another finding was that Bain produced stellar returns for its investors—yet the bulk of these came from just a small number of its investments. Ten deals produced more than 70% of the dollar gains.

Some of those companies, too, later ran into trouble. Of the 10 businesses on which Bain investors scored their biggest gains, four later landed in bankruptcy court. . . .

The Journal analysis shows that in total, Bain produced about $2.5 billion in gains for its investors in the 77 deals, on about $1.1 billion invested. Overall, Bain recorded roughly 50% to 80% annual gains in this period, which experts said was among the best track records for buyout firms in that era.

Most Popular

Elections

The Jerry Springer Debate

It’s a shame that Joe Biden couldn’t attend Tuesday night's debate. Okay, Biden was in attendance, but during the 90 minutes, it felt like he barely ever finished a complete sentence. It’s not clear that President Trump necessarily won the night, in the sense that people who were leaning against ... Read More
Elections

The Jerry Springer Debate

It’s a shame that Joe Biden couldn’t attend Tuesday night's debate. Okay, Biden was in attendance, but during the 90 minutes, it felt like he barely ever finished a complete sentence. It’s not clear that President Trump necessarily won the night, in the sense that people who were leaning against ... Read More
Elections

Trump Did Himself No Favors

The debate was a remarkable example of the fact that Donald Trump, the most self-serving man in America, doesn’t know how to do himself any favors. For the first ten or twelve minutes of the debate, he was walking away with it — Trumpy, sure, but in control and surprisingly reasonable-sounding. If he had ... Read More
Elections

Trump Did Himself No Favors

The debate was a remarkable example of the fact that Donald Trump, the most self-serving man in America, doesn’t know how to do himself any favors. For the first ten or twelve minutes of the debate, he was walking away with it — Trumpy, sure, but in control and surprisingly reasonable-sounding. If he had ... Read More
Elections

On Last Night’s Debate

The fact that I believe the debate was unwatchable last night does not mean I believe President Trump did not have some good moments. And the fact that I imagine it was a net-net win for Joe Biden does not mean he did not have some utterly awful moments. Yet the unwatchability of the debate -- the cringe factor ... Read More
Elections

On Last Night’s Debate

The fact that I believe the debate was unwatchable last night does not mean I believe President Trump did not have some good moments. And the fact that I imagine it was a net-net win for Joe Biden does not mean he did not have some utterly awful moments. Yet the unwatchability of the debate -- the cringe factor ... Read More

Chaos in Cleveland

The 90 minutes of “debate” between President Donald Trump and former vice president Joe Biden cannot be told as a cohesive story, or reduced to a few bottom lines. It was too fast and too disorganized. Almost anyone watching would have just picked up impressions along the way. I’ve grouped mine into piles ... Read More

Chaos in Cleveland

The 90 minutes of “debate” between President Donald Trump and former vice president Joe Biden cannot be told as a cohesive story, or reduced to a few bottom lines. It was too fast and too disorganized. Almost anyone watching would have just picked up impressions along the way. I’ve grouped mine into piles ... Read More
Elections

Actually, The Debate Was About Issues

I know. A lot of folks are saying the debate was an ugly, insult-filled shouting match that barely got down to cases. Actually, I thought it was a highly entertaining exchange that helpfully spotlighted the candidates’ differences on issues. An ugly, angry exchange? Well, at least it looked like America. If you ... Read More
Elections

Actually, The Debate Was About Issues

I know. A lot of folks are saying the debate was an ugly, insult-filled shouting match that barely got down to cases. Actually, I thought it was a highly entertaining exchange that helpfully spotlighted the candidates’ differences on issues. An ugly, angry exchange? Well, at least it looked like America. If you ... Read More
Elections

Everybody Loses, Which Helps Biden

Reactions to tonight's debate will likely be deeply polarized, as everything else is. There are a few things that are clear. One, this was probably the worst presidential debate in American history. There was a ton of cross-talk and shouting down, there were many bald-faced lies and obvious evasions, a former ... Read More
Elections

Everybody Loses, Which Helps Biden

Reactions to tonight's debate will likely be deeply polarized, as everything else is. There are a few things that are clear. One, this was probably the worst presidential debate in American history. There was a ton of cross-talk and shouting down, there were many bald-faced lies and obvious evasions, a former ... Read More
Elections

Who Wins an Unwatchable Debate?

Over coffee this morning I read a fascinating interview with Martin Gurri, the former CIA analyst who first noticed the seismic impact of social media on world politics. The author of The Revolt of the Public and the Crisis of Authority in the New Millennium, Gurri studies the fracturing of discourse and the ... Read More
Elections

Who Wins an Unwatchable Debate?

Over coffee this morning I read a fascinating interview with Martin Gurri, the former CIA analyst who first noticed the seismic impact of social media on world politics. The author of The Revolt of the Public and the Crisis of Authority in the New Millennium, Gurri studies the fracturing of discourse and the ... Read More