ooh more documents just in time

labrea_gwOctober 2, 2012


It sauce for the goose to use the letter of the law to avoid taxes but for the 47 % they aren't taking responsibility for their lives. What an absolute phony piece of crap this is!

This is a rancid can of crap any way you play him!

Mitt Romney skipped Italy on his swing through Europe. That was probably prudent.

ThatâÂÂs because Bain Capital, under Romney as chief executive officer, made about $1 billion in a leveraged buyout 12 years ago that remains controversial in Italy to this day. Bain was part of a group that bought a telephone-directory company from the Italian government and then sold it about two years later, at the peak of the technology bubble, for about 25 times what it paid.

Bain funneled profits through subsidiaries in Luxembourg, a common corporate strategy for avoiding income taxes in other European countries, according to documents reviewed by Bloomberg News. The buyer, ItalyâÂÂs biggest telephone company, now has a total market value less than what it paid Bain and other investors for the directory business.

In Italy, the deals have spurred at least three books, separate legal and regulatory probes and newspaper columns alleging investors made a fortune at the expense of Italian taxpayers. Boston-based Bain wasnâÂÂt a subject of the inquiries, which didnâÂÂt result in any charges.

The sale of the governmentâÂÂs directory business is âÂÂa dark chapter in the countryâÂÂs privatization history, one that has hurt Italians deeply,â said Bernardo Bortolotti, an economics professor at Turin University who advised the Italian Treasury on asset sales from 2002 through 2005. âÂÂIt was a mistake from the start, damaged by a lack of transparency and the use of offshore fundsâ¦âÂÂ

Here is a link that might be useful: circling the bowl

Thank you for reporting this comment. Undo

Its Bain Capital Sleaze Tuesdays.

Like ladies night at the bar.

    Bookmark   October 2, 2012 at 11:29PM
Thank you for reporting this comment. Undo
tobr24u(z6 RI)

Hopefully Bain will be the bane for Romney thru the election...

    Bookmark   October 3, 2012 at 4:53AM
Thank you for reporting this comment. Undo

Gotta love the silence.

    Bookmark   October 3, 2012 at 9:27AM
Thank you for reporting this comment. Undo

If the Bain Capital scandals don't do it, a flip-flop or gaff will. There have been so many mistakes that we just need to pick our favorite.

    Bookmark   October 3, 2012 at 9:59AM
Sign Up to comment
More Discussions
Congratulations Nebraska
They saw this coming and were changing the forms in...
A Court decision gutting ACA could be a lot worse than you think
A Court decision gutting ACA could be a lot worse than...
Dinosaurs are bad!
This is hard to believe! Ummmm...anyone have an idea...
Pigs Fly . . . Or Try to Fly
California newspapers are proudly announcing that the...
nancy_in_venice_ca Sunset 24 z10
Signature salute to Leonard Nimoy
Dead at 83; cause given as end stage COPD. Though not...
People viewed this after searching for:
© 2015 Houzz Inc. Houzz® The new way to design your home™