Disqus - Latest Comments for luvkamdeux

Re: The Pitchforks Are Coming… For Us Plutocrats

luvkamdeux — Sun, 29 Jun 2014 13:17:02 -0000

One idea, create profit sharing, bonuses and compensation that is fair and equitable to the over all "take" in the success of each venture and don't over charge the consumer. This would be the right thing to do.

Re: Romney Is Short On Specifics

luvkamdeux — Fri, 19 Oct 2012 23:05:13 -0000

Financial
Vampires.

Thank you Eugene for the simple explanation on how Private Equity firms operate.I worked
(note: past tense) for a company owned by a Private Equity firm, the one that
actually hosted the "47% Romney dinner party", no names please.
My experience is the same as you wrote about GST's plight, "The company,
which was more than 100 years old, failed after a decade under Bain's
ownership; GST's 750 employees lost their jobs, pensions and health benefits.
Bain, however, made money, investing $8 million in the company and taking out
$4 million in profits and $4.5 million in management fees. The Romney campaign
contends that GST, with its unionized workforce, could not compete with cheap
foreign steel being dumped on the market. The Obama campaign alleges that Bain
burdened GST with crushing debt while sucking the company's coffers dry.”

The
company I worked for is only 5 years into the PE ownership, only 60 years old,
yet 50+ people were laid off, 401K matching discontinued, bonuses stopped,
raises frozen and is on the path to closing. And by the way the company is not
unionized and builds 99% of their product in Asia so labor costs are low. With that in mind, new
excuses for failure will need to be created.

Private
Equity firms are famous for buying companies, then “investing”, while actually
syphoning the company’s financial assets in the guise of “profit’s” and management
fees. The strategy used is to leverage debt, drain the assets, file bankruptcy
and walk away rich. Thank you Wall Street, the training ground for this management style.

Private
Equity firms are Financial Vampires. They buy companies, suck their blood ($) and
leave a shell that no one can use.

BTW…My
position was "eliminated" and I was replaced by 3 men, really.

Re: McCain beats Obama in ratings

luvkamdeux — Mon, 08 Sep 2008 08:06:29 -0000

The reason Palin received high viewer ratings for her speech is the same reason
there would be high viewer numbers for a train wreck. People were captured by the chance of blood.
And blood they did get to see. Palin is a master at sarcasm - the kind that rips people apart, a kin to the Plastics in Mean Girls.
Palin reminds me of the sorority girls on campus that have nothing to contribute so to detract
from that fact they throw mud which of course confuses people because it gets in their eyes and
they can't see the truth. If you have not had the chance to watch Mean Girls, please do, it will explain everything
you need to know about her type of character; Mean, like a pit bull. And the lipstick - it rubs off.