Talk:Bain Capital
Under Review:
Bain Capital is a private equity and venture capital firm founded by Bill Bain, Mitt Romney, T. Coleman Andrews in 1984. It has holdings in Domino's Pizza, pharmaceutical group Warner Chilcott, Toys "R" Us, sportswear distributor Broder Bros., and SunGard Data Systems. Bain Capital, along with Thomas H. Lee Partners, made a nearly $20 billion offer for broadcasting giant Clear Channel, and with another group purchased for $33 billion HCA, the largest for-profit hospital chain in the U.S. [1] [2]
Contents
Clear Channel
In 2008 Bain Capital joined with private-equity firm Thomas H. Lee Partners to buy Clear Channel. The $25-billion deal included around 1,000 AM and FM stations, as well as dozens of televisions stations that were later sold off. Clear Channel subsidiary Premiere Radio Networks — the largest radio syndication service in America with talk-show hosts including Rush Limbaugh, Glenn Beck, and Sean Hannity — was also part of the package. [3]
Offshoring American Jobs
In 1984, Romney co-founded Bain Capital, a spin-off from Bain & Company, a global management consulting firm. A new accounting details Bain Capital's history in shipping some 15,865 manufacturing jobs overseas (see chart below).[4]
Lobbying
Bain Capital spent $100,000 for lobbying in the first half of 2007. The lobbying firm Public Strategies was used. [5]
Personnel
Selected Managing Directors: [6]
- Andrew Balson, Previously at Morgan Stanley and in the leveraged buyout group at SBC Australia
- Steven Barnes, Held several senior management positions in the Mergers & Acquisitions Support Group of PricewaterhouseCoopers
- David McCarthy, Worked for GE Medical Systems and GE Appliances, and spent five years as a nuclear submarine officer in the United States Navy
- Joshua Bekenstein
Criticism
- Paul Krugman, "All the G.O.P.’s Gekkos", New York Times, December 8, 2011.
Contact details
111 Huntington Avenue
Boston, MA 02199
Phone: 617-516-2000
Fax: 617-516-2010
Web: http://www.baincapital.com
Resources and articles
Related Sourcewatch
PRWatch Articles on Bain Capital
PRWatch, Bain Capital and the Race to the Bottom in Manufacturing and Wages, Mary Bottari, October 24, 2012.
References
- ↑ Bain Capital Profile, Hoovers, accessed September 2007.
- ↑ Mitt Romney Biography, Washington Post, accessed September 2007.
- ↑ Alex Newman, Romney’s Bain Capital Owns Media Giant Broadcasting Limbaugh, Hannity, The New American, January 16, 2012
- ↑ Mary Bottari, Bain Capital and the Race to the Bottom in Manufacturing and Wages, PRWatch, October 24, 2012.
- ↑ Bain Capital lobbying expenses, Open Secrets.
- ↑ Managing Directors, Bain Capital, accessed September 2007.
