By: Ray MedeirosJune 16, 2012
A lot can be said about a man and how he makes his money. You have
those who add wealth by creating things – Henry Ford falls into this
category. Then you have people like Mitt Romney, he invests money,
that’s it! He then tells the industrialist, like Henry Ford, to lay off
workers, in order to increase his own personal wealth.
Well, Mitt Romney has profited handsomely by laying off people for
his own personal gain. In fact he made, $20,000 per laid off worker.
In an article by
The Street.com they break down how Romney profited immensely off the suffering of his fellow American citizens.
So, as Romney tours the country, telling Americans he knows how to
create jobs better than President Obama, remember how he became so
wealthy.
Here is the breakdown from the article:
• American Pad & Paper: Bain invested $5 million in the small
paper company in 1992, and reportedly collected $100 million in
dividends on that investment. AMPAD went bankrupt in 2000, laying off
385 employees.
• Dade Behring: Bain Capital invested $415 million in a leveraged
buyout in 1994, borrowed an additional $421 million, and ultimately
walked away with $1.78 billion. Dade filed for bankruptcy in 2002, and
2,000 workers lost their jobs.
• DDI Corporation: Bain Capital reportedly invested $46.3 million in
1997, reaping $85.5 million in profits and an additional $10 million in
management fees. When the company later went bankrupt, 2,100 workers
were laid off.
• GS International: In a somewhat less profitable transaction, Bain
Capital invested $60 million in 1993 and received $65 million in
dividends. This company, too, went bankrupt in 2002, and 750 workers
lost their jobs.
• Stage Stores: Bain invested $5 million to purchase the company and
took it public in the mid-’90s, reaping $100 million from stock
offerings. Stage filed for bankruptcy in 2000, and 5,795 workers
reportedly were laid off.
America can not afford a President who puts profits before people, ever!
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