Published on October 8th, 2012 | by Zachary Shahan15
Romney’s Bain Capital Not Nearly as Good as Federal Government at Picking Winners & Losers
But let’s take a quick look at how well Romney and his solely-owned company Bain Capital has done in that regard….
Out of 77 companies in which Bain Capital invested other people’s money, 33 either failed or produced no earnings. That, my friends, is a 43% failure rate.
Out of 77 companies in which Romney invested, only 10 were really good investments. 70% of Bain’s earnings came from these 10 companies. And that, my friends, is only a 13% success rate.
Of course Romney/Bain made money from the failed companies as well. They stripped money out of those companies, money that should have gone to the people who actually put up the money. But that’s how vultures operate, by grabbing parts of rotting carcass.
Would the Romney administration do better than the Obama administration in advancing American industry, creating jobs, and investing in long-term winners? I think not.