Sunday, September 2, 2012

Some Truth about Bain Capital

The DNC kicks off this week in my hometown of Charlotte, NC. I predict that they may double down in their attacks on Bain Capital. Not that all Democrats hate or want to attack Free Enterprise – but the loudest and shrillest voices on the left are those who are currently in control of the party and the platform. Examples?  - I mean President Obama, Debbie Wasserman Shultz, and David Axelrod just to name a few. Each of these individuals has on multiple occasions spoken of business owners in the private sector as greedy capitalists, etc. etc. - and some of their nastiest attacks have been on Mitt Romney and Bain Capital.

So it dawned on me. In my continual research I have found detailed information to share on my blog and Facebook posts that absolutely refute the lies about Bain – but – what about some truths about Bain – truths that are good?


Bain’s private-equity executives have enriched dozens of organizations and millions of individuals in the Democrat Party base — including some who scream most loudly for President Obama’s re-election.

There are literally thousands of Democrats who have benefited from Bain Capitals successful stewardship of their personal investments and retirement funds.

Government-worker pension funds are the chief beneficiaries of Bain’s economic stewardship. Go-Figure!

New York-based Preqin uses public documents, news accounts and Freedom of Information requests (FOIA) to track private-equity holdings. Since 2000, Preqin reports, the following funds have entrusted some $1.56 billion to Bain:

* Illinois Municipal Retirement Fund ($2.2 million)
* Indiana Public Retirement System ($39.3 million)
* Iowa Public Employees’ Retirement System ($177.1 million)
* The Los Angeles Fire and Police Pension System ($19.5 million)
* Maryland State Retirement and Pension System ($117.5 million)
* Public Employees’ Retirement System of Nevada ($20.3 million)
* State Teachers Retirement System of Ohio ($767.3 million)
* Pennsylvania State Employees’ Retirement System ($231.5 million)
* Employees’ Retirement System of Rhode Island ($25 million)
* San Diego County Employees Retirement Association ($23.5 million)
* Teacher Retirement System of Texas ($122.5 million)
* Tennessee Consolidated Retirement System ($15 million)

But wait, there’s more!

According to BuyOuts Magazine and S&P Capital IQ, Bain’s other college clients have included Cornell, Emory, the Massachusetts Institute of Technology, Notre Dame and the University of Pittsburgh. Preqin reports that the following schools have placed at least $424.6 million with Bain Capital between 1998 and 2008:

* Purdue University ($15.9 million)
* University of California ($225.7 million)
* University of Michigan ($130 million)
* University of Virginia ($20 million)
* University of Washington ($33 million)

Major, center-left foundations and cultural establishments also have seen their prospects brighten, thanks to Bain Capital. According to the aforementioned sources, such Bain clients have included the Charles Stewart Mott Foundation, the Doris Duke Foundation, the Metropolitan Museum of Art, the Ford Foundation, the Heinz Endowments and the Oprah Winfrey Foundation.

Perhaps some of these lefty groups should divest their investments – put their money where their mouth is - or simply shut up or even speak out against the lying attacks on Mitt Romney and his successful enterprise in Bain Capital.

Two quote comedian Robin Williams – “Reality…What a Concept”!

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