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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsMeet Marc Leder, home of the $50,000 plate fundraiser and infamous tape
Romney's fellow vulture capitalist Marc Leder
... It was through private equity that one Republican candidate, Mitt Romney, amassed his wealth and, it turns out, it was through private equity that Mr. Romney first met Mr. Leder. A couple of months after the blowout in Bridgehampton, Mr. Leder was host for a fund-raiser at his Boca Raton home for Mr. Romneys campaign. But the connection goes back even further. Years ago, a visit to Mr. Romneys investment firm inspired Mr. Leder to get into private equity in the first place. Mr. Romney was an early investor in some of the deals done by Mr. Leders investment company, Sun Capital, which today oversees about $8 billion in equity...
In recent years, a large number of the companies that Sun Capital has acquired have run into serious trouble, eliminated jobs or both. Since 2008, some 25 of its companies roughly one of every five it owns have filed for bankruptcy.
Among the losers was Friendlys, the restaurant chain known for its Jim Dandy sundaes and Fribble shakes. (Sun Capital was accused by a federal agency of pushing Friendlys into bankruptcy last year to avoid paying pensions to the chains employees; Sun disputes that contention.) Another company that sank into bankruptcy was Real Mex, owner of the Chevys restaurant chain. In that case, Mr. Leder lost money for his investors not once, but twice.
http://www.democraticunderground.com/10021365102
onethatcares
(16,178 posts)genuine business. Borrow money to buy a company, load it with debt, grab the goodies, close the company, go bancrupt and fuck the workers out of their pensions or any other benefits they may have gained through a lifetime
of hard work.
he's a bloodsucker that's all.
flamingdem
(39,314 posts)fabulous fellow dontcha think..
loyalsister
(13,390 posts)Obama's opponent in the 2004 election withdrew because of sex scandal.
demokatgurrl
(3,931 posts)He's one of the owners of my hometown team the 76ers