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Contec Holdings, Bain-Owned Firm, Could File For Bankruptcy As Early As This Week
Posted by: ferfux ()
Date: August 29, 2012 02:22PM

A company owned by Bain Capital may file for bankruptcy this week,

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Re: Contec Holdings, Bain-Owned Firm, Could File For Bankruptcy As Early As This Week
Posted by: ferfux ()
Date: August 29, 2012 02:22PM

Bain bought Contec, a company that repairs cable equipment, in 2008,

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Re: Contec Holdings, Bain-Owned Firm, Could File For Bankruptcy As Early As This Week
Posted by: ferfux ()
Date: August 29, 2012 02:22PM

after Romney left the firm. As part of the deal, Bain reportedly saddled Contec with about 60 percent debt .

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Re: Contec Holdings, Bain-Owned Firm, Could File For Bankruptcy As Early As This Week
Posted by: ferfux ()
Date: August 29, 2012 02:23PM

but it was too much for Contec to survive the financial crisis and a drop in cable subscribers.

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Re: Contec Holdings, Bain-Owned Firm, Could File For Bankruptcy As Early As This Week
Posted by: ferfux ()
Date: August 29, 2012 02:23PM

The bankruptcy is just the latest painful chapter for the company. Three summers ago, Contec laid off more than 100 employees and moved production to Mexico, according to the Albany Times Union

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Re: Contec Holdings, Bain-Owned Firm, Could File For Bankruptcy As Early As This Week
Posted by: ferfux ()
Date: August 29, 2012 02:24PM

Thats right ladies and Gentlemen step RIGHT UP for YOUR NEXT PRESIDENT OF THE UNITED STATES OF AMERICA!

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Re: Contec Holdings, Bain-Owned Firm, Could File For Bankruptcy As Early As This Week
Posted by: ferfux ()
Date: August 29, 2012 02:25PM

Bain acquired medical company Dade International as part of a Romney-approved deal in the 1990s, the company more than doubled its sales and brought Bain a huge return on its investment, The New York Times reports. But the boost came at a cost; Bain encouraged Dade to take on more debt, a move that accelerated its path towards bankruptcy. The company also laid off 1,700 workers.

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Re: Contec Holdings, Bain-Owned Firm, Could File For Bankruptcy As Early As This Week
Posted by: ferfux ()
Date: August 29, 2012 02:27PM

GS Industries a steel maker in Charlotte NC suffered a similar fate under Bain's watch.

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Re: Contec Holdings, Bain-Owned Firm, Could File For Bankruptcy As Early As This Week
Posted by: ferfux ()
Date: August 29, 2012 02:27PM

Though Bain turned a 100 percent profit on its investment in the company, the firm saddled the steelmaker with so much debt that the company had to lay off 2,000 workers, according to the Raleigh News and Observer. It eventually filed for bankruptcy.

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Re: Contec Holdings, Bain-Owned Firm, Could File For Bankruptcy As Early As This Week
Posted by: ferfux ()
Date: August 29, 2012 02:28PM

BankRuptcacy. its WHATS IN STORE FOR ROMNEY's AMERICA WHILE HE AND THE REST OF HIS ILK GET RICHER AND RICHER!!!!!!!!!!!!!!!!!!!!!!!!!!!

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Re: Contec Holdings, Bain-Owned Firm, Could File For Bankruptcy As Early As This Week
Posted by: POY ()
Date: August 29, 2012 03:00PM

ferfux Wrote:
-------------------------------------------------------
> BankRuptcacy. its WHATS IN STORE FOR ROMNEY's
> AMERICA WHILE HE AND THE REST OF HIS ILK GET
> RICHER AND RICHER!!!!!!!!!!!!!!!!!!!!!!!!!!!

Bullshit.

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Re: Contec Holdings, Bain-Owned Firm, Could File For Bankruptcy As Early As This Week
Posted by: ferfux ()
Date: August 29, 2012 03:11PM

POY Wrote:
-------------------------------------------------------
> ferfux Wrote:
> --------------------------------------------------
> -----
> > BankRuptcacy. its WHATS IN STORE FOR ROMNEY's
> > AMERICA WHILE HE AND THE REST OF HIS ILK GET
> > RICHER AND RICHER!!!!!!!!!!!!!!!!!!!!!!!!!!!
>
> Bullshit.


Ahoy polloi!

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Re: Contec Holdings, Bain-Owned Firm, Could File For Bankruptcy As Early As This Week
Posted by: Hay Zeus ()
Date: August 29, 2012 04:45PM

Well....if i wasnt convinced before about not voting Romney before, I sure as hell am now. Thanks Ferfux, keep up the good work!



Edited 1 time(s). Last edit at 08/29/2012 04:46PM by Hay Zeus.

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