McIntosh Group purchased by PE firm

This is the business model that Mitt Romney made his fortune from. 

• Take over board by buying out members
• Take out loans and saddle company with debt
• Charge enormous fees for "managing" things
• Make it more efficient by cutting quality and downsize labor to pay interest on debt
• State your mission accomplished and leave company with debt so large they have to declare bankruptcy 
• Move onto next victim business

To think this used to be illegal a long time ago makes one wonder....

All the best,
Nonoise

@cleeds, No, I wasn't aware of Romney doing that but it's quite an unusual thing for him to do as his record is that of strip, dump and run shark.

All the best,
Nonoise

@cleeds Bain also owns Guitar Centers since 2007 and BRP Since 2003, Dominos since 1998, just to name a few and they have $150 billion dollar portfolio.

Not a fan of Bain or their track record. Like Carl Ichon they are pirates.

Mitt also came from money, as his father George was CEO  American Motors back in the day. 

Rich getting richer. 

Sure glad ARC spun off a while back and is the hands of an old ARC hand.