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Romney’s Bain Capital Not Nearly as Good as Federal Government at Picking Winners & Losers

 
The following is a post mostly written by one of our wonderful CleanTechnica readers, with minor changes and additions by me.

Romney has complained about the government picking winners and losers (which it’s actually doing quite well at, with a failure rate of ~1.4%, not 50%, despite what Romney says).

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.

h/t Hullabaloo

 
 
 
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Zach is tryin' to help society help itself one word at a time. He spends most of his time here on CleanTechnica as its director, chief editor, and CEO. Zach is recognized globally as an electric vehicle, solar energy, and energy storage expert. He has presented about cleantech at conferences in India, the UAE, Ukraine, Poland, Germany, the Netherlands, the USA, Canada, and Curaçao. Zach has long-term investments in Tesla [TSLA], NIO [NIO], Xpeng [XPEV], Ford [F], ChargePoint [CHPT], Amazon [AMZN], Piedmont Lithium [PLL], Lithium Americas [LAC], Albemarle Corporation [ALB], Nouveau Monde Graphite [NMGRF], Talon Metals [TLOFF], Arclight Clean Transition Corp [ACTC], and Starbucks [SBUX]. But he does not offer (explicitly or implicitly) investment advice of any sort.

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