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Bain’s only goal is to make a profit; William A. Alexander; Beaver County Times; July 8, 2012.
Mr. Alexander has written at least 34 letters (See the archives for more examples.) since December 2004, and all but three (one fawning over Rep. Jason Altmire [D-PA], one critical of local funding for JROTC, and another upset about the Air Force awarding a contract to Airbus instead of Boeing) bashed Republicans for something. Another letter was entitled “Blame Republicans for today’s messes.” Despite this record, Mr. Alexander is a Democrat/leftist who wants us to believe he’s really a disenchanted Republican. In “Can’t wait for Hart to lose,” Mr. Alexander told us he was a “registered Republican.” In reality, Mr. Alexander is one of a group of local Republican impersonators (The group also includes Messrs. Arthur Brown, Edward J. Hum, George Reese, and Oren M. Spiegler) who write claiming to be disgruntled Republicans. Mr. Alexander’s last letter was “Put the real blame where it belongs.”
Below is a detailed critique of the subject letter.
“In response to Mr. Busang’s letter on the difference between Bain Capital and Barack Obama.”
[RWC] Mr. Alexander had a dry spell. After writing at least 33 letters from December 2004 to April 2011, this appears to be Mr. Alexander’s first published letter since the one in April 2011.
“There certainly is a difference! Bain’s goal is to make money for themselves and their investors, their last priority has anything to do with improving or increasing employees.
“The way they do this is to get control of a company that is doing poorly, often with only 51 percent. Right size the company (get rid of employees).
“Sell assets: Equipment, real estate, patents, intellectual property, etc. Borrow as much additional money from banks as possible.
“Take all this money out of company in the form of fees, charges, special dividends, etc., etc., so they make a big profit, sometimes hundreds of millions.
“Then Bain leaves the company to fend for itself.
“Now the company is in a lot worse shape than before Bain came and usually descends into bankruptcy with anyone left taking it on the chin, while Bain is long gone and has moved on to their next project.”
[RWC] This letter appears to be a regurgitation of already-discredited assertions in Obama campaign ads/commercials. In a piece entitled “4 Pinocchios for Obama’s newest anti-Romney ad,” even the “The Fact Checker” for the left-leaning Washington Post had to cry foul regarding Obama campaign ads about Mitt Romney and Bain Capital. FactCheck.org also weighed in. Furthermore, other Democrats have taken Mr. Obama and his campaign to task regarding his attacks on private capital firms like Bain. These Democrats include Newark, NJ, Mayor Cory Booker, former President Bill Clinton, former PA Governor Ed Rendell, and so on.
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