Former Gov. Deval Patrick to join Bain Capital

[BlueEye]

Source: Boston Globe

Former governor Deval Patrick is joining the Boston investment giant Bain Capital, where he will start a new line of business directing investments in companies that produce profits but also have a positive impact on social problems.

Patrick, a Democrat who led the state of Massachusetts for eight years, joins a firm founded by his Republican predecessor in the State House, Mitt Romney. It marks a return to business pursuits, and a potentially outsized paycheck, for a high-profile former governor whose future plans were fodder for intense speculation in political circles.


The move is a new avenue for Bain Capital, an $80 billion firm best known for investments in companies such as Dunkin’ Donuts and Staples. Patrick will help give Bain its first foothold in the growing field of “social impact” investing, tackling social problems such as hunger or climate change with for-profit investments.

Patrick, 58, will become one of Bain’s managing directors, and the first African American to do so.

Read more: http://www.bostonglobe.com/business/2015/04/13/former-gov-deval-patrick-join-bain-capital/QEgS648qXMm2KIq1AUySRO/story.html

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"Social impact investing" sounds nice... There is some crazy irony here though.

[rpannier]

1. Isn't that just special

Another politico with connections joining a corporation that destroys jobs at home

[CentralMass]

2. i guess he's done with running for political office.

[appalachiablue]

7. No money in govt., going for the big bucks $. Happens to the best of them. So who's going to

stay in or enter politics? Just heard Patrick's been lobbying for the TPP. I liked him, thought he was real sharp.

[CentralMass]

10. I had a chance to meet him near the end of his term. Nice guy.

He is a very intelligent and thoughtful man. I saw him speak at a college in Ma.
I think his heart is in the right place.

[appalachiablue]

13. I can see that about him. Welcome to DU, btw-

[CentralMass]

15. Thank you.

[LovingA2andMI]

3. Corporate Dem Much....

Bain Capital? Really?

[BlueEye]

6. Gov. Patrick had said he had an interest in doing some private sector work in previous interviews,

which is fine, he isn't the first Democrat to do so. But when I saw Bain Capital... I thought it was some kind of sick joke.

[jakeXT]

22. from 2012 Deval Patrick Defends Bain Capital: “Not A Bad Company”

Democratic Massachusetts Governor Deval Patrick appeared on CNN and defended the Boston-based company Mitt Romney led, saying it wasn’t “a bad company.” Patrick added “I respect what Bain does and its role in the free market system,” he said.

[laserhaas]

23. Boy - oh - Boy, am I going to make him eat these words.

Bain is not only bad - it is VERY bad.

Stay tuned!

[bunnies]

4. This is the most disgusting thing Ive read in a long time

And THIS is the shit that makes people think theres no difference between parties.

[bbgrunt]

17. not only makes them think it, but also confirms those thoughts.

[GeorgeGist]

5. Cha ching goes the little red bell.

[LovingA2andMI]

11. Say What?

Maybe if you have to question reasonable criticism with the line "I'm I Being Racist".....then if the shoe fits.

Welcome to DU, not sure how long the stay will be.....

[laserhaas]

24. Wow - party was here since 2003.

I'm curious what it was.......

[irisblue]

9. dude

hope they made it enough for the rest of your soul

[Peregrine Took]

12. Was it ever thus??? n/t

[Doctor_J]

14. aww...one former ma governor gives another one a job.

How sweet

[LiberalFighter]

16. Bain? Means corrupt!

[Major Hogwash]

18. I can not fucking believe it!

And the hits just keep coming!

[valerief]

19. Ugh! And he leaves us with a damn GOP governor, too. nt

[Arkana]

20. Shame.

He had a bright future.

[George II]

21. VERY disappointing news

[DeadLetterOffice]

26. Makes me sad...

... cause I liked the guy when he was governor of MA, and now... well, now I just can't.

[laserhaas]

25. All I have to say is - yours truly harassed pitten's so bad

not even Mitt returned to Bain (arguably going with Tagg at Solamere being just as surreptitious).

Though RMoney still owns the pot of gold...

[Skittles]

27. love the bone toss for "social impact"

who the hell does he think he is kidding?