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BUSINESS
October 7, 2013 | By David Sell, Inquirer Staff Writer
On Tuesday, the private equity giant Bain Capital owned Burlington Stores Inc. On Wednesday, Burlington Stores, parent company of Burlington Coat Factory, launched an initial public offering. By Friday, Bain Capital still owned Burlington Stores, just not as much. Slightly more than 13.3 million shares, with the ticker symbol BURL, were offered for sale on the New York Stock Exchange at an initial price of $17 per share. The stock closed Friday at $25.89. Bain Capital will go from owning 93.3 percent of the stock to 75.8 percent or 73.7 percent, depending on whether the IPO underwriters opt to buy up to two million more shares at a discounted price.
BUSINESS
June 28, 2013
The privately held parent company of discount-clothing retailer Burlington Coat Factory said it told the Securities and Exchange Commission that it intends to sell shares in an initial public offering. The number of shares and their price had not yet been determined, Burlington Holdings Inc. said. The South-Jersey company, now with 503 stores, was taken private by Bain Capital in a $2.1 billion deal in 2006, when it had 366 stores. Burlington reported last week that net sales rose 8.4 percent to $1.07 billion for the quarter that ended May 4. - Reid Kanaley
NEWS
July 14, 2012 | By Jim Kuhnhenn and Phil Elliott, Associated Press
LACONIA, N.H. - His credibility under attack, Republican presidential candidate Mitt Romney said Friday that he had "no role whatsoever in the management" of a private equity firm after early 1999, and demanded that President Obama apologize for aides who allege otherwise. "This is simply beneath the dignity of the presidency of the United States," Romney said in an interview on ABC, one of several he granted to network and cable stations in hopes of extinguishing the controversy.
NEWS
May 25, 2012 | Inquirer Editorial
Cory Booker must feel like the halfback who finally gets to play in the big game — and fumbles the football. But he will get other chances. The Newark mayor's inarticulate handling of a Meet the Press question Sunday about Republican presidential candidate Mitt Romney's prior career with the Bain Capital private equity firm was painful to watch, but not fatal. Since he was President Obama's surrogate, it was surprising that Booker seemed to defend Romney, saying he disagreed with Obama ads that appear to equate private equity firms with evil incarnate.
NEWS
May 22, 2012 | By Jim Kuhnhenn and Julie Pace, Associated Press
CHICAGO - President Obama sought Monday to undermine Mitt Romney's key rationale for his presidential candidacy, sharply attacking his Republican challenger's background as a venture capitalist and arguing that profit-making alone is not a qualification for the White House. "His main calling card for why he thinks he should be president," Obama said, "is his business experience. " It was Obama's most expansive argument yet against Romney, and the president delivered it from a world stage in his hometown.
NEWS
July 16, 2012 | By Philip Elliott, Associated Press
WOLFEBORO, N.H. - Mitt Romney's campaign said Sunday that President Obama is willing to say anything to win a second term and should say he's sorry for attacks on the Republican's successful career at a private-equity firm. "No, we will not apologize," the president responded, adding that if Romney wants credit for his business leadership, he also needs to take responsibility. Questions about Romney's tenure at Bain Capital and the fortune he earned there have dogged the former Massachusetts governor as Obama and his allies have said the firm shipped jobs overseas.
NEWS
January 17, 2012
It's no surprise that Republican front-runner Mitt Romney is being compared to the fictional "greed is good" capitalist Gordon Gekko. What's surprising is that the criticism is coming from members of his own pro-business party. The "class warfare" debate was supposed to wait for the general election, when whoever is the Republican nominee can be counted on to accuse President Obama of engaging in what is, by GOP standards, such despicable behavior. But the Republican also-rans in Iowa and New Hampshire are now attacking Romney as a capitalist job-killer.
BUSINESS
April 23, 2013 | By Mike Armstrong, Inquirer Columnist
Venture-capital activity may have been down in terms of deals and dollars during the first quarter nationwide, but the second-tier Philadelphia market did pretty well. Thirty-three companies raised $142.4 million during the first three months of 2013, compared with 44 companies attracting $54.5 million during the fourth quarter, according to the PricewaterhouseCoopers/National Venture Capital Association MoneyTree Report. SevOne Inc. , a Wilmington software developer, was listed as the big wheel landing the biggest deal: $60 million.
NEWS
January 16, 2012 | By Thomas Fitzgerald, INQUIRER POLITICS WRITER
MYRTLE BEACH, S.C. - With just days to go before a primary that could all but decide the Republican presidential nomination, a shrunken field of five candidates battled in a debate Monday night, with opponents trying to pull front-runner Mitt Romney back to Earth. The former Massachusetts governor - who won the first two nominating contests, in Iowa and New Hampshire, and leads in the polls here - faced intense scrutiny in the first of two debates this week before South Carolina holds its primary Saturday.
NEWS
July 13, 2012 | By Jack Gillum and Julie Pace, Associated Press
WASHINGTON - Documents filed by Mitt Romney's former company conflict with the Republican presidential candidate's statements about when he gave up control of the private equity firm Bain Capital. President Obama's campaign seized on the discrepancies Thursday to allege that Romney was lying about his background. Romney, in turn, said Obama was the one being dishonest, as he rolled out a hard-hitting TV ad that accused the president of launching "misleading, unfair and untrue" attacks about the Republican's role in outsourcing U.S. jobs.
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NEWS
September 4, 2014 | BY JEFF CROUERE
D efinition of insanity: Doing the same thing over and over again and expecting different results. - Albert Einstein Unbelievably, the drumbeat has begun for former Massachusetts Gov. Mitt Romney to run for president a third time. The man who lost twice for president is now being encouraged by many party leaders to give it another try. Congressman Jason Chaffetz, R-Utah, recently told MSNBC: "I think he's proven right on a lot of stuff. I happen to be in the camp that thinks he's actually going to run and I think he will be the next president of the United States.
BUSINESS
October 7, 2013 | By David Sell, Inquirer Staff Writer
On Tuesday, the private equity giant Bain Capital owned Burlington Stores Inc. On Wednesday, Burlington Stores, parent company of Burlington Coat Factory, launched an initial public offering. By Friday, Bain Capital still owned Burlington Stores, just not as much. Slightly more than 13.3 million shares, with the ticker symbol BURL, were offered for sale on the New York Stock Exchange at an initial price of $17 per share. The stock closed Friday at $25.89. Bain Capital will go from owning 93.3 percent of the stock to 75.8 percent or 73.7 percent, depending on whether the IPO underwriters opt to buy up to two million more shares at a discounted price.
NEWS
August 10, 2013 | By Jonathan Tamari, Inquirer Washington Bureau
The sharpest exchanges of New Jersey's brief Senate race arrived Thursday night. U.S. Reps. Frank Pallone and Rush Holt used the second and final Democratic debate before Tuesday's primary to launch their most pointed, aggressive attacks on Newark Mayor Cory Booker, questioning the front-runner's liberal credentials, his dedication to his job, and his ties to big business. The normally laid-back Pallone was most aggressive, repeatedly criticizing Booker's work in Newark. "I don't know how the mayor expects that he's going to get things done because he's always been aligned with Wall Street and Bain Capital and all these special-interest groups," Pallone said.
BUSINESS
June 28, 2013
The privately held parent company of discount-clothing retailer Burlington Coat Factory said it told the Securities and Exchange Commission that it intends to sell shares in an initial public offering. The number of shares and their price had not yet been determined, Burlington Holdings Inc. said. The South-Jersey company, now with 503 stores, was taken private by Bain Capital in a $2.1 billion deal in 2006, when it had 366 stores. Burlington reported last week that net sales rose 8.4 percent to $1.07 billion for the quarter that ended May 4. - Reid Kanaley
BUSINESS
June 19, 2013
In the Region OSHA cites Carson Helicopters   Carson Helicopters Inc. , of Perkasie, has been cited by the Occupational Safety and Health Administration for eight violations including exposing workers to hexavalent chromium, known to cause cancer, at the company's plant. OSHA proposed a $40,500 fine after a complaint triggered a December 2012 inspection. Other violations alleged are spray booths containing combustible floor lining, no airflow measuring devices or fire extinguisher systems, lack of engineering controls to reduce exposures, and lack of a medical program for workers exposed.
BUSINESS
April 23, 2013 | By Mike Armstrong, Inquirer Columnist
Venture-capital activity may have been down in terms of deals and dollars during the first quarter nationwide, but the second-tier Philadelphia market did pretty well. Thirty-three companies raised $142.4 million during the first three months of 2013, compared with 44 companies attracting $54.5 million during the fourth quarter, according to the PricewaterhouseCoopers/National Venture Capital Association MoneyTree Report. SevOne Inc. , a Wilmington software developer, was listed as the big wheel landing the biggest deal: $60 million.
NEWS
July 20, 2012 | By Joseph Tanfani, Melanie Mason, and Matea Gold, Tribune Washington Bureau
WASHINGTON - When Mitt Romney launched Bain Capital in 1984, he struggled at first to raise enough money for the untested venture. Old-money families like the Rothschilds turned down the young Boston consultant. So he and his partners tapped an eclectic roster of investors, raising more than a third of their first $37 million investment fund from wealthy foreigners. Most of the foreign investors' money came through corporations registered in Panama, then known for tax advantages and unusual banking secrecy.
NEWS
July 16, 2012 | By Philip Elliott, Associated Press
WOLFEBORO, N.H. - Mitt Romney's campaign said Sunday that President Obama is willing to say anything to win a second term and should say he's sorry for attacks on the Republican's successful career at a private-equity firm. "No, we will not apologize," the president responded, adding that if Romney wants credit for his business leadership, he also needs to take responsibility. Questions about Romney's tenure at Bain Capital and the fortune he earned there have dogged the former Massachusetts governor as Obama and his allies have said the firm shipped jobs overseas.
NEWS
July 14, 2012 | By Jim Kuhnhenn and Phil Elliott, Associated Press
LACONIA, N.H. - His credibility under attack, Republican presidential candidate Mitt Romney said Friday that he had "no role whatsoever in the management" of a private equity firm after early 1999, and demanded that President Obama apologize for aides who allege otherwise. "This is simply beneath the dignity of the presidency of the United States," Romney said in an interview on ABC, one of several he granted to network and cable stations in hopes of extinguishing the controversy.
NEWS
July 13, 2012 | By Jack Gillum and Julie Pace, Associated Press
WASHINGTON - Documents filed by Mitt Romney's former company conflict with the Republican presidential candidate's statements about when he gave up control of the private equity firm Bain Capital. President Obama's campaign seized on the discrepancies Thursday to allege that Romney was lying about his background. Romney, in turn, said Obama was the one being dishonest, as he rolled out a hard-hitting TV ad that accused the president of launching "misleading, unfair and untrue" attacks about the Republican's role in outsourcing U.S. jobs.
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