Corporate Reformer Bain Capital Much Like Terrible Corporate Education Reformers
Bain Capital has received a lot of negative press lately from President Barack Obama's reelection campaign as it's the corporation once run by current Republican presidential candidate Mitt Romney.
As it turns out Romney made a killing from his time as CEO of Bain, but he was far from a job creator. Through his work thousands of people lost their jobs. The corporation uses a "Corporate Reform" model that looks a lot like the current model being used by billionaire-backed Astroturf groups claiming it will fix schools.
Bain's a private equity firm that specialized in "leveraged buyouts."According to Slate.com:
Leveraged buyouts, which are what private equity firms do, load companies with debt, extract value for middlemen, and displace workers.
The company profits off of lowering the standard of living for workers It cuts
