The News Story Today is who leaked Romney’s comments to the press?

The real story should be Who is Marc Leder Co-CEO of Sun Capital Partners? How can he make so much money and what exactly does Sun Capital Partners do?

Sun Capital Partners may just be another Bain Capital. This explains the friendship between Romney and Leder.

How some Private Equity firms make lots of money?

“PE buys a company that is worth $100M for $30M after exercising all kinds of pressure. It borrows $200M against the company and fires 1000’s of employees in the name of Business Improvement. PE hires a consulting firm to handle the project (run the show) and when the company gets buried in debt and fails to meet its obligations then they bankrupt it, sell the assets, and walk away with millions in profit. Sounds like a great business why wouldn’t every one do it, right? I’m sure there are ways to cover up the tracks and make it a little harder for an average Joe to figure it out.

Sun Capital Partners will hire so-called consulting firms, to assist in Mergers and Acquisition projects. Brooks Consulting also known as Brooks International based out of Palm Beach Gardens, Florida is among the preferred partners of Sun Capital Partners. Brooks Consulting will dispatch bunch of consultants to the recently acquired firm to assist in the restructuring project.

In an email we received few months back from an insider at Brooks Consulting basically exposed the firm. He claimed that he was a Brooks Consultant on a project for a Sun Capital portfolio company. Brooks International had one of their executives act as the CEO of the company while running a multimillion dollar consulting project. In another way he was double dipping and acting as the buyer and seller at the same time. You issue an invoice with the right hand and pay it with the left hand. The former consultant claims that Brooks had no intention or at least did not try to actually improve the business and when he spoke up, he was terminated. He did not understand that Brooks Consulting was merely putting on a show and no real improvement or work was suppose to be done. I guess with some much money being made, Sun Capital Partners need firms like Brooks Consulting to cover up the tracks and what is better than a consulting firm to show that Sun Capital attempted to save the company.

The next News story should be that how many firms acquired by Sun Capital Partners actually did make the turn and survive. As former president Bill Clinton said what is the score? How many jobs were actually created by Private Equity Firms versus how many were lost.

Another news worthy story should be, who is keeping an eye on these private equity firms? How long before a Maddof situation happens but this time will be courtesy of Private Equity Firms.

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