How hedge funds, Goldman Sachs, and corrupt executives used Gymboree's chaotic bankruptcy to cash out while destroying the careers of loyal employees

Gymboree is one of the many companies acquired by Mitt Romney's Bain Capital, through a "leveraged buyout" through which the company was loaded up with debt so that the hedge fund could cash out; the company was left with massive debts and cycled through a succession of incompetent, inexperienced grifter CEOs who eventually ran the company into bankruptcy. Read the rest

Clearchannel took over America's local radio, Bain Capital took over Clearchannel, Clearchannel went bankrupt

As I've written, the demise of newsmedia can't be blamed on tech -- rather, it was the combination of technology and deregulated, neoliberal capitalism, which saw media companies merged and acquired, vertically and horizontally integrated, with quality lowered, staff outsourced and assets stripped, leaving them vulnerable to technological shocks, after all their in-house experts were turned into contractors who drifted away, their physical plant sold and leased back, their war-chests drained by vulture capitalists who loaded them up with debt that acted like a millstone around their necks as they strove to maneuver their way out of their economic conundrum. Read the rest

TOM THE DANCING BUG: Barackman, The Dark Knight vs. Bane Capital!

FOLLOW @RubenBolling on Twitter. Further: JOIN Tom the Dancing Bug's proud and mighty INNER HIVE and receive untold BENEFITS and PRIVILEGES! Read the rest