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Governor Romney's old company Bain Capital has come under intense scrutiny lately as you just heard and in the meantime it appears were all getting a crash course in private equity.
Course -- Shannon -- separates fact from fiction.
Private equity firms what exactly do they do from.
Like can't -- you can suck in my.
When I started we had close to 14100 employees now -- over 6000.
They summit volley campaign ads pegged to governor Mitt Romney's time at Bain Capital it all depends on whom you laughs.
Bubonic administration and its supporters have portrayed the work a private equity -- in particular.
As a simple matter of turning a profit from distressed companies with no regard to how employees of those businesses -- impact.
-- private equity managers typically reduce payrolls by firing workers.
And or cutting other workers' wages and their health and pension benefits there's a lot of hype for hyperbole there's a lot of -- characterizations.
Those who work for the more than 2500 private equity firms that port 144.
Billion dollars in the US companies last year.
See the reality of what they do is being manipulated for political gain.
They point to success stories like Dunkin' Donuts Hilton Hotels even companies that manufacture heavy duty equipment for the US military.
And say the bottom line goal is to make sure the companies they -- succeed so everyone benefits.
60% of the funds -- private equity receives -- from pension funds from endowments and foundations so truly the pensions of nurses teachers firemen.
All sorts of people benefit directly from private equity investment.
According to a study from the national year old economically -- search which look at about 3200 companies that were bought out by private equity firms between 1980 and 2005.
Those companies did shed about 1% more jobs thing comparable companies but.
They also tended to open more new branches offices and factories in addition they generally hired more -- staff members for its -- Bain Capital says quote.
Despite political attacks that emphasize the few companies that have struggled revenues grew an 80% of the more than 350 companies in which we have invested.
But if all the president wants to do is talk about the failures why he's misrepresenting.
The nature of free enterprise.
A critical from the Washington Post this week those surveyed were asked whether Romney's work -- -- would influence their votes.
41% said it was a reason to support him 21% that it was a reason to oppose him and 54% said it -- -- a factor at all.
Brett Jenn and thank you.
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