How Mitt Romney Ended Toys R Us

[thomhartmann]

Are the Rich White Boomers Taking of Millennial Wealth, or is something else happening?

[brush]

1. Pls cut out the pitting of generations against each other.

Thanks for posting the video. It refreshes our memory of Romney and Bain Capital's theving from the 2012 campaign but it's not any rich "Boomers" screwing GenXers and Millennials, it's rich repug/traitors screwing everyone.

This trend that's starting of Boomers being the villains behind all the ills of society is so uninformed.

There is and always was a dichotomy among boomers all the way back to the 60s. Half were the protestors who bought down Nixon, marched and fought against racists and stopped the Vietnam war and the other half were the repug crooks who were with Nixon, bashed protestor heads in Chicago and later supported Reagan and Bush l and W Bush (and btw, where have all the protestors gone in the GenXer and Millennial generations? They sure haven't been in the streets. Keyboard warring doesn't count as attested to by trump being in the WH).

Learn some history. And btw, half of GenXers and Millennials are repugs too. Ya better learn to deal with it. Who do you thing was fooled into voting for trump? It sure wasn't all Boomer repugs.

[3Hotdogs]

2. So you buy controlling interest in a business. Then set yourself up as C.E.O.

Borrow a shit-load of money and pay yourself a big bonus.

When the company can't pay it back, tough shit. Close the company.

[OnDoutside]

3. The man who stole Christmas. That would make a great ad.

[JHB]

4. This has been going on since Reagan...

I have to wonder at how much of the anger over job losses and wage stagnation that is usually directed at NAFTA and other trade deals would more rightly be directed at these kinds of financial maneuvers.

Post of mine from a thread on this topic last year:

Exactly. Headline should read "...crushed by management financial games"

I'd love to see a study about how much job and wage loss that is written off as due to automation and offshoring has actually been due to (or triggered by) financial games by the people in control of the companies.


When this sort of thing comes up it's always instructive to break out the 1991 Philadelphia Inquirer series by Bartlett and Steele:
http://www.philly.com/philly/opinion/inq_HT_WhatWentWrong1991.html

DAY 1
How game was rigged against middle class

After three decades, American worker loses out to Mexico
Who - and how many - in America's middle class

DAY 2
The lucrative business of bankruptcy

DAY 3
Big business hits the jackpot with billions in tax breaks

DAY 4
Why the world is closing in on the U.S. economy

DAY 5
The high cost of deregulation: Joblessness, bankruptcy, debt

DAY 6
For millions in U.S., a harsh reality: It's not safe to get sick

How death came to a once-prosperous discount-store chain

DAY 7
Raiders work their wizardry on an all-American company

DAY 8
When you retire, will there be a pension waiting?

Workers saving for their retirement lose on junk bonds

DAY 9
How special-interest groups have their way with Congress

America's two-class tax system

[packman]

5. Did this to a steel mill back in my hometown area

It was struggling, they came in and bought it cheap, borrowed against it to pay themselves huge salaries, sold off bits and pieces till nothing was left to produce steel and then sold what was left as scrap.

[louis-t]

6. Very few companies succeeded after Romney and friends

did this to them. Staples is one of the few. It is not a recipe for success.