MoveOn has an ad in New Hampshire taking down Mitt Romney and identifying him as a job destroyer for his own personal profit.
Mitt is the 1%. It's time for the 99% to wise up and rise up.
“Donny Box worked for GST, at a steel mill in Kansas City, Mo., for 32 years. A few years after Bain took over, the company went belly-up and the plant closed. Box says Bain ruined the community and his friends' lives." NPR, October 6, 2011.
http://www.wbur.org/...
“In 1993, Bain Capital bought the company GST Steel, which later filed for bankruptcy protection and closed a steel plant in Kansas City, and a string of smaller companies also ran into trouble after being acquired by Bain Capital.” Politico, July 14, 2011. http://www.politico.com/...
“As head of private equity firm Bain Capital LLC, Romney was the lead deal-maker, buying and selling companies to make money for investors. Whether companies boomed or filed for bankruptcy, the Boston-based firm found profits for Romney, its other executives and investors. Romney, who spent most of his career at Bain, estimated his wealth in 2007 at as much as $250 million.” Bloomberg, July 20, 2011. http://www.bloomberg.com/...
“More than 700 workers were fired, losing not only their jobs but health insurance, severance and a chunk of their pension benefits. GSI retirees also lost their health insurance and other benefits. Bain partners received about $50 million on their initial investment, a 100% gain.” The Los Angeles Time, December 3, 2011. http://articles.latimes.com/...
“In 2001, the company shut the Kansas City plant, which it said was losing money. More than 700 workers lost their jobs. Retirees and those eligible to retire lost their health benefits and life insurance, said John Wiseman, a staff representative with the United Steelworkers.” Bloomberg, July 20, 2011. http://www.bloomberg.com/...
“Although Romney was CEO of Bain during that period, he has said he had no involvement in the layoffs and the plant closure.” NPR, October 6, 2011.
http://www.wbur.org/...
‘”Guys lost houses, guys lost cars, and I'll tell you what — the ... number of people that had been married 30, 35, 40 years that split up. There were quite a few people that committed suicide,’ Box says.” NPR, October 6, 2011. http://www.wbur.org/...
“Romney often equates good performance with job creation. ‘We added tens of thousands of jobs through the businesses we helped support,’ Romney said during a debate at the Ronald Reagan presidential library last month. ‘That experience — succeeding, failing, competing around the world — is what gives me the capacity to help get this economy going again.’” NPR, October 6, 2011. http://www.wbur.org/...
“What Romney skips is his experience in eliminating jobs.” Bloomberg, July 20, 2011. http://www.bloomberg.com/...
“Some quick background: Private equity firms like Bain are known for raising money from outside investors; using that money to buy up struggling companies; restructuring the companies (think layoffs, slashing worker benefits, and selling off pieces of the business); and finally selling the (supposedly) leaner, meaner businesses for a profit.” Bloomberg, July 20, 2011. http://www.bloomberg.com/...