As Romney gains strength, so does MTW. Looking pretty good here, next resistance is in the 12.60 range, but the relative strength looks unsustainable. I am talking about Romney 'the vulture' of course.
Also, I don't know why a discussion of Private Equity and presidential candidates has so much appeal on a board denvoted to a stock that makes crane and food equipment. I geuss politics is just that appealing, but it really doesn't have a place on a MTW board.
Are you referring to the Steel Dynamics PP partnership, or the GS industries?
Bain sold out of Steel Dynamics with a tidy profit and the taxpayor lost nothing. GS industries went BK back in 2001 and left the gov't with a 50 mil loan guarantee, but what did Bain lose?
Romney acting as Bain's lead underwriter on the deal had to justify the investment to investors, that is who he represents. There were investors in the leverage used at GS and this included banks, pension funds, and private investors and they too lost substantail amounts on the deal. Bain on the other hand, did not lose money. I want the person managing my money to act like Romney, not like the US gov't or the investors who bought the junk steel mill paper that ultimtely took down the company.
Obama has had the opportunity to streamline government for over 3 years. Now he decides to attempt to do it in a small way....in an election year? Hmmmm, wonder why now? And how is he going to do that....is he going to ADD jobs, no, he's FINALLY going to cut a few. Why....because the government is bloated and wasteful...like the companies Romney went in to streamline. You have to cut the fat. Our Federal government is morbidly obese and has to be slashed. We need Romney to do it!
Okay, for the sake of discussion --I agree Indiana steel was a form of corporate welfare. However, are they still open? Yes. Is solyndra after 500,000,000.00 ? Yes a half billion dollars vs. 10 million the government put in Indiana steel. Come on, stop with the moral equivalency crap. So Romney group made money. Bain/Romney group received no where near the amount of money Obamas friends did at Solyndra.