Friday, January 6, 2012

Bain Capital LLC - FYI

An interesting tidbit about BANE from Wikipedia...

Bain Capital was founded in 1984 by Bain & Company partners Mitt Romney, T. Coleman Andrews III, and Eric Kriss. In addition to the four founding partners, the early team included Fraser Bullock, Robert F. White, Joshua Bekenstein, Adam Kirsch, and Geoffrey S. Rehnert. Bain Capital's original $37 million fund was raised entirely from private individuals in mid-1984. Romney led the business during the periods 1984 to 1990 and 1992 to 1999.

One of the fund's first start-up investments was Staples, Inc., the $15 billion office supply retailer. The funding enabled Staples to expand from one store in 1986 to over 2000 stores in 2011.

In his 2010 book The Buyout of America: How Private Equity Is Destroying Jobs and Killing the American Economy, Josh Kosman described Bain Capital as "notorious for its failure to plow profits back into its businesses," being the first large private-equity firm to derive a large fraction of its revenues from corporate dividends and other distributions. The revenue potential of this strategy, which may "starve" a company of capital, was increased by a 1970s court ruling that allowed companies to consider the entire fair-market value of the company, instead of only their "hard assets", in determining how much money was available to pay dividends. In at least some instances, companies acquired by Bain borrowed money in order to increase their dividend payments, ultimately leading to the collapse of what had been financially stable businesses.

Bain Capital's ownership of American Pad & Paper (Ampad), acquired in 1992 from Mead Corporation for $5 million, is estimated to have generated more than $100 million in revenues for Bain and its investors through advisory fees, sale of stock, and other revenue that resulted from an initial public offering and assumption of other debt. Hundreds of jobs were eliminated by the closing of production facilities before the business was liquidated in bankruptcy in 2001.

Yeah, anyone who thinks Mitt is gonna run this country any differently, is sadly mistaken.

Just Joe

Wednesday, January 4, 2012

A message to the folks who messed with the format on Green 960

I'm sorry,

Did you idiots forget your audience? Well guess what you morons, your playing in the Bay Area! With every additional hour of that crap happy, neocon, lunatic fringe that you choose to add to your programming, you can expect to lose that much time that we listen to your commercial advertising.

You people make me sick, you'd sell your mothers soul if you thought it might get you a greater profit margin for the year.

For those of you who are truly responsible for the programming change, you know - the corporate puppet masters at Bain Capital LLC, I hope that there is a Heaven and a Hell. I hope that in hell there's a special place for each and every one of you. It's my most fervent wish that in that place, you can all relive the worst moments of those peoples lives that your greed has effected, for eternity.

Happy New Year!

Just Joe

P.S. I really think you ought to re-examine the spelling of your company, Bain Capital LLC?  Bain? Who the heck do you think your fooling, try BANE, it's far more fitting.