I wanted to wait until after the election to say what a truly vile organization Bain Capital is. I broke down their model into its basic steps:
- Borrow a large amount of money using a small amount of money as collateral
- Use that money to buy a 51% stake in a farm
- Use your controlling stake to approve paying yourself exorbitant “consulting fees” in the form of all the seed corn
- Have the farm expand hiring and spending as if it were undergoing unprecedented growth
- Wait for market price to rise
- Sell stake in farm for huge profit
- Farm fails for lack of seed corn
- Blame post-sale management
- Profit!
If you are now or ever have been an executive in Bain Capital, you are a truly bad person.
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