Bain Capital did not shut down the steel mill in the lying advertisement

[tinydancer]

Hot off the grill at the Daily Mail we have another major whopper from the "Romney killed my wife ad".

Bain Capital's investment did not shut down GST Steel

'Mitt Romney and Bain Capital made millions for themselves and then closed this steel plant,' a dramatic headline in the ad reads.

The real story is much more complex.

Bain Capital was one of several investors that paid $80million to buy the plant from Armco in 1993.

At the time it was struggling. Armco lost $640million that year. The American steel industry was in the midst of massive shutdowns and struggles as they lost ground to cheaper foreign imports, the Wall Street Journal reports.

Bain folded the Kansas City plant, GST Steel, into a company called GS Industries, which made $1billion in revenues by 1996.

GST Steel in Kansas City closed, laying off 750 workers including Mr Soptic.

It was the only plant in GS Industries that was forced to shut down as a result of the bankruptcy reorganization, the Journal reports.

Read more: Deception revealed in Obama attack ad that blames Mitt Romney for woman's cancer death | Mail Online

 

[WillowTree]

The debates should be firey and interesting. I hope Romney is making a lie list. Hit em with it hard.

 

[asaratis]

Hot off the grill at the Daily Mail we have another major whopper from the "Romney killed my wife ad".

Bain Capital's investment did not shut down GST Steel

'Mitt Romney and Bain Capital made millions for themselves and then closed this steel plant,' a dramatic headline in the ad reads.

The real story is much more complex.

Bain Capital was one of several investors that paid $80million to buy the plant from Armco in 1993.

At the time it was struggling. Armco lost $640million that year. The American steel industry was in the midst of massive shutdowns and struggles as they lost ground to cheaper foreign imports, the Wall Street Journal reports.

Bain folded the Kansas City plant, GST Steel, into a company called GS Industries, which made $1billion in revenues by 1996.

GST Steel in Kansas City closed, laying off 750 workers including Mr Soptic.

It was the only plant in GS Industries that was forced to shut down as a result of the bankruptcy reorganization, the Journal reports.

Read more: Deception revealed in Obama attack ad that blames Mitt Romney for woman's cancer death | Mail Online

Liberals will still squeeze this story for all it is worth to them. (They do not care that it is misleading and untruthful.)

Thanks for the link.

 

[Truthmatters]

did the guy lose his job ?


quit pretending mitt was not a corporate raider

 

[Truthmatters]

Mitt made his living doing what was called corporate raiding back in those days.


Now if you think that makes him a great guy than admitt what he did for a living

 

[GHook93]

I said it once: Mr Soptic wife might be in heaven, but he is certainly going to hell!

 

[Truthmatters]

Corporate Raider Definition | Investopedia


Definition of 'Corporate Raider'
An investor who buys a large number of shares in a corporation whose assets appear to be undervalued. The large share purchase would give the corporate raider significant voting rights, which could then be used to push changes in the company’s leadership and management. This would increase share value and thus generate a massive return for the raider.


Read more: http://www.investopedia.com/terms/c/corporate-raider.asp#ixzz22zT6q5qv

 

[Truthmatters]

Mr Soptic told NO lie in the ad.

go view it and bring me a quote of his direct words that you claim are a lie

 

[Truthmatters]

Trashing regular Americans for telling their story is evil shit you scums

 

[Truthmatters]

Mitt Romney Started Bain Capital With Money From Families Tied To Death Squads

chew on this.

I think I know whos going to hell ( if there was such a place)

 

[asaratis]

The debates should be firey and interesting. I hope Romney is making a lie list. Hit em with it hard.

As do I. Trouble is, I bet Romney is just as much a wimp at rebutting stupid allegations as GWB was.

I cannot remember how many times I screamed at Bush through the TV screen when he failed to adequately respond to criticisms by the MSM and the hacks on the left. We defend both of them better here than they do themselves. Of course Bush and Romney are limited to being polite and PC whereas I am free to use convenient expletives and colorful language that more than gets the message across.

 

[manifold]

The debates should be firey and interesting. I hope Romney is making a lie list. Hit em with it hard.

As do I. Trouble is, I bet Romney is just as much a wimp at rebutting stupid allegations as GWB was.

I cannot remember how many times I screamed at Bush through the TV screen when he failed to adequately respond to criticisms by the MSM and the hacks on the left. We defend both of them better here than they do themselves. Of course Bush and Romney are limited to being polite and PC whereas I am free to use convenient expletives and colorful language that more than gets the message across.

^Delusions of significance.

 

[Sallow]

The debates should be firey and interesting. I hope Romney is making a lie list. Hit em with it hard.

As do I. Trouble is, I bet Romney is just as much a wimp at rebutting stupid allegations as GWB was.

I cannot remember how many times I screamed at Bush through the TV screen when he failed to adequately respond to criticisms by the MSM and the hacks on the left. We defend both of them better here than they do themselves. Of course Bush and Romney are limited to being polite and PC whereas I am free to use convenient expletives and colorful language that more than gets the message across.

You kinda have to.

Because when these guys could defend the country..they chose not to.

That bodes badly in their ability to get involved in a straight up fight.

No?

 

[asaratis]

did the guy lose his job ?


quit pretending mitt was not a corporate raider

I don't really know why I respond to your dopey posts, but you must know this...Bain did a great deal of good for a great many companies. Had Bain been a corporate raider group, all of their acquisitions would have been squeezed penniless and discarded.

Some ventures are just bound to fail. Soptic's job went with one of the failures.

You are ignoring the Bain success stories. You are a partisan hack and a complete fool. It is really a shame that you are allowed access to the public. Your idiocy bleeds over to others who cannot follow logic and reason.

 

[Zxereus]

Mr Soptic told NO lie in the ad.

go view it and bring me a quote of his direct words that you claim are a lie

Well apparently "truth" doesn't "matter" to you after all.

 

[manifold]

Mr Soptic told NO lie in the ad.

go view it and bring me a quote of his direct words that you claim are a lie

Well apparently "truth" doesn't "matter" to you after all.

^Wow, what a rapist wit this guy has.

 

[GHook93]

I used to think Obama had morals, but his ideals were out of wack. Rather it beyond apparent he lacks ALL morals and his ideals are RADICAL!!!

 

[Leweman]

Trashing regular Americans for telling their story is evil shit you scums

manipulating the truth for some sort of political agenda is pathetic. I hope this man grows a conscious and apologies.

 

[Gadawg73]

Mitt made his living doing what was called corporate raiding back in those days.


Now if you think that makes him a great guy than admitt what he did for a living

Corporate raiders always do far more good than bad.
Take a good look at their work, what they do and how they create and keep jobs.
Tell us, what does a corporate raider do?
And who owns the majority of the stock in those companies?
Middle class retirement funds.
Which is better? Keep open a company that ALWAYS loses $$$ or close it and restructure the assets into the other businesses of those holding companies?

 

[candycorn]

Hot off the grill at the Daily Mail we have another major whopper from the "Romney killed my wife ad".

Bain Capital's investment did not shut down GST Steel

'Mitt Romney and Bain Capital made millions for themselves and then closed this steel plant,' a dramatic headline in the ad reads.

The real story is much more complex.

Bain Capital was one of several investors that paid $80million to buy the plant from Armco in 1993.

At the time it was struggling. Armco lost $640million that year. The American steel industry was in the midst of massive shutdowns and struggles as they lost ground to cheaper foreign imports, the Wall Street Journal reports.

Bain folded the Kansas City plant, GST Steel, into a company called GS Industries, which made $1billion in revenues by 1996.

GST Steel in Kansas City closed, laying off 750 workers including Mr Soptic.

It was the only plant in GS Industries that was forced to shut down as a result of the bankruptcy reorganization, the Journal reports.

Read more: Deception revealed in Obama attack ad that blames Mitt Romney for woman's cancer death | Mail Online

So how'd Bain do on the deal? Because what they usually do once they take over the company is assume more debt to pay themselves back; at least thats what they did at Ampad.