If your have some middle-class friends who are leaning toward voting for Mitt Romney for president, please suggest they read this informative, factual article, even just the first 10 or 12 paragraphs. It will give them a good idea about how Mitt could very disrupt their lives and livelihoods if he had a chance to practice his management and financial "skills" as president.
Kotz writes:
His formula was simple: Bain would purchase a firm with little money down, then begin extracting huge management fees and paying Romney and his investors enormous dividends. The result was that previously profitable companies were now burdened with debt. ... Bain would slash costs, jettison workers, reposition product lines, and merge its new companies with other firms. With luck, they'd be able to dump the firm in a few years for millions more than they'd paid for it.
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