WorldTraveller Posted July 25, 2012 Share Posted July 25, 2012 Thanks, stupid Honestly, I could see why you thought I was speaking about you.... Link to comment Share on other sites More sharing options...
Chef Jim Posted July 25, 2012 Share Posted July 25, 2012 Rolled over a 401(k). Seriosuly...I hadn't heard of that until now. That's interesting...best speculation I've heard is that he contributed shares of companies Bain bought, but at far below nominal value (which was cheap to begin with). Probably not even illegal over the time period in question. Certainly would be unethical, though. That's what I read when this came up awhile ago. You can put any value on a stock of a privately held company that is given as profit sharing. BTW huge pensions can many times also be rolled into IRAs. Not saying he had one but I bet there are some union people with some major IRAs. Link to comment Share on other sites More sharing options...
IDBillzFan Posted July 25, 2012 Share Posted July 25, 2012 Below is an article from the Chicago Trib. A factory in Illinois owned by Bain is set to close and all the workers will lose their jobs as Bain is moving the factory to China! Imagine how horrible it would be if the Chicago Trib reported that the factory in Illinois received a half a billion taxpayer dollars before it went bankrupt. Oh, wait. My bad. Move along with your desperate Mitt-picking. Link to comment Share on other sites More sharing options...
Doc Posted July 25, 2012 Share Posted July 25, 2012 Imagine how horrible it would be if the Chicago Trib reported that the factory in Illinois received a half a billion taxpayer dollars before it went bankrupt. Oh, wait. My bad. Move along with your desperate Mitt-picking. Seriously? Link? Link to comment Share on other sites More sharing options...
IDBillzFan Posted July 25, 2012 Share Posted July 25, 2012 Seriously? Link? In fairness, Solyndra wasn't in Illinois. Link to comment Share on other sites More sharing options...
Park Posted July 25, 2012 Share Posted July 25, 2012 That's what I read when this came up awhile ago. You can put any value on a stock of a privately held company that is given as profit sharing. BTW huge pensions can many times also be rolled into IRAs. Not saying he had one but I bet there are some union people with some major IRAs. I'm in no way saying anything illegal was done, but anyone who has an IRA would know instantly that what he is doing is not what the IRA was meant for. I put almost 5k away each year in mine, as close as I can figure it to stock purchased, and I will never end up anywhere close to what he has. It just shows how the game is rigged for the wealthy Link to comment Share on other sites More sharing options...
WorldTraveller Posted July 25, 2012 Share Posted July 25, 2012 (edited) Outsourcing is kinda like gravity, it's gonna happen because it is a necessary evil required for some companies to remaiN alive. Without it, many companies would shudder and would be replaced with another company set up overseas. Those who argue against it are eitIher political lemmings or extremely economically ignorant. Edited July 25, 2012 by WorldTraveller Link to comment Share on other sites More sharing options...
tomato can Posted July 25, 2012 Author Share Posted July 25, 2012 Imagine how horrible it would be if the Chicago Trib reported that the factory in Illinois received a half a billion taxpayer dollars before it went bankrupt. Oh, wait. My bad. Move along with your desperate Mitt-picking. So you are ad-MITT-ing what Bain is doing here is wrong? Link to comment Share on other sites More sharing options...
ExiledInIllinois Posted July 25, 2012 Share Posted July 25, 2012 In fairness, Solyndra wasn't in Illinois. Wow... Bringing Solyndra into this is like sending the backup goalie out to run Tie Domi! !@#$ing Teabaggers! Link to comment Share on other sites More sharing options...
Chef Jim Posted July 25, 2012 Share Posted July 25, 2012 I'm in no way saying anything illegal was done, but anyone who has an IRA would know instantly that what he is doing is not what the IRA was meant for. I put almost 5k away each year in mine, as close as I can figure it to stock purchased, and I will never end up anywhere close to what he has. It just shows how the game is rigged for the wealthy Do you need $100million to create your retirement income to maintain your lifestyle? Now let me ask you, doe he? Link to comment Share on other sites More sharing options...
truth on hold Posted July 25, 2012 Share Posted July 25, 2012 (edited) You are right this has to stop! Then Bain has the nerve to ship in Chinese workers and tell the people train them how to take your job! WOW! You're absolutely right man. There has to be a limit to business men behaving rationally. Never mind how not doing so would render so many American companies irrelevant in the global economy, killing off even more jobs here at home while driving up consumer prices. This is America dammit, we're not a dumping ground for c#*&k's. Edited July 25, 2012 by Joe_the_6_pack Link to comment Share on other sites More sharing options...
WorldTraveller Posted July 25, 2012 Share Posted July 25, 2012 So you are ad-MITT-ing what Bain is doing here is wrong? No, I think he is admitting that you're a hypocrite Wow... Bringing Solyndra into this is like sending the backup goalie out to run Tie Domi! !@#$ing Teabaggers! Eric, shouldn't you be watching Archie bunker or somethin? You're absolutely right man. There has to be a limit to business men behaving rationally. Never mind how not doing so would render so many American companies irrelevant in the global economy, killing off even more jobs here at home while driving up consumer prices. This is America dammit, we're not a dumping ground for c#*&@'s. Just like two peas in a pod Link to comment Share on other sites More sharing options...
Park Posted July 25, 2012 Share Posted July 25, 2012 Do you need $100million to create your retirement income to maintain your lifestyle? Now let me ask you, doe he? No. And seriously??? He needs that account to "maintain his super wealthy life style"? Omg! I now feel sorry for him! Does he? I answered the question, now you answer it! Link to comment Share on other sites More sharing options...
tomato can Posted July 25, 2012 Author Share Posted July 25, 2012 You're absolutely right man. There has to be a limit to business men behaving rationally. Never mind how not doing so would render so many American companies irrelevant in the global economy, killing off even more jobs here at home and while driving up consumer prices. This is America dammit, we're not a dumping ground for c#*&@'s. Absolutely agree! Heck these so called business men even having people believing that this is the only way these companies can remain alive! All because they are so dam greedy and want more profit! Link to comment Share on other sites More sharing options...
ExiledInIllinois Posted July 25, 2012 Share Posted July 25, 2012 Outsourcing is kinda like gravity, it's gonna happen because it is a necessary evil required for some companies to remaiN alive. Without it, many companies would shudder and would be replaced with another company set up overseas. Those who argue against it are eitIher political lemmings or extremely economically ignorant. To the Good People of Freeport, IlL: Did you hear what WordTraveller has to say? Signed, Mitt Romney Link to comment Share on other sites More sharing options...
Chef Jim Posted July 25, 2012 Share Posted July 25, 2012 No. And seriously??? He needs that account to "maintain his super wealthy life style"? Omg! I now feel sorry for him! Does he? I answered the question, now you answer it! Yes he does. You invest in your IRA to replace your income at retirement. He's not allowed to do the same? Link to comment Share on other sites More sharing options...
ExiledInIllinois Posted July 25, 2012 Share Posted July 25, 2012 Eric, shouldn't you be watching Archie bunker or somethin? Do I know you? :unsure: Link to comment Share on other sites More sharing options...
WorldTraveller Posted July 25, 2012 Share Posted July 25, 2012 To the Good People of Freeport, IlL: Did you hear what WordTraveller has to say? Signed, Mitt Romney To all the people of the mayo mental health clinic, I need more meds! Signed, Eric. ( I think) Link to comment Share on other sites More sharing options...
Park Posted July 25, 2012 Share Posted July 25, 2012 Yes he does. You invest in your IRA to replace your income at retirement. He's not allowed to do the same? What, the caymans, Swiss bank accounts, inside access because of his father, making billions n hedge funds isn't enough? Wow! Oh, he might only own 10 houses instead of 12??? Please! I can actually care less about the super wealthy "maintaing their lifestyles" Link to comment Share on other sites More sharing options...
DC Tom Posted July 25, 2012 Share Posted July 25, 2012 What, the caymans, Swiss bank accounts, inside access because of his father, making billions n hedge funds isn't enough? Wow! Oh, he might only own 10 houses instead of 12??? Please! I can actually care less about the super wealthy "maintaing their lifestyles" Actually, you care very much: if it were up to you, they wouldn't maintain it at all. Link to comment Share on other sites More sharing options...
Recommended Posts