Mitt/Bain made millions off 100 year old S.C. steelmaker, now bankrupt

Discussion in 'Politics' started by rdean, Jan 16, 2012.

  1. rdean
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    rdean Guest

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    Boston-based Bain Capital LLC more than doubled its money on GS Industries Inc. - the former parent company of Georgetown Steel - under Mitt Romney’s leadership in the 1990s, even as the steel manufacturer went on to cut more than 1,750 jobs, shuttered a division that had been around for 100 years and eventually sank into bankruptcy.

    Bain Capital spent $24.5 million to acquire GS Industries in 1993, according to an investment prospectus for the company that was obtained by the Los Angeles Times and reviewed by McClatchy Newspapers. By the end of that decade, Bain Capital estimated its partners had made $58.4 million off its investment in GS Industries, according to the prospectus.

    Bain Capital made millions off S.C. steelmaker as mill morale, finances suffered - BostonHerald.com

    South Carolina Gov. Nikki Haley's low 34% approval rating too high.

    Haley's low approval too high

    When people in South Carolina get to know Mitt, how will they accept him?
     
  2. Oddball
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    Oddball Diamond Member Supporting Member

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  3. ScienceRocks
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    ScienceRocks Democrat all the way!

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    Well, businesses don't go to something like Bain if aren't already on the edge of going over the edge anyways...Truth be told not all businesses make it. 22 percent didn't.

    This is a part of life. As not all busineses can be saved. Obama has a record of the same, while spending hundreds of billions of our tax dollars.
     
    Last edited: Jan 16, 2012
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    Cowman Cows Have Liberal Minds

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    We know that's why you don't care. That's why you're the rancid brand of conservative you are.
     
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    I don't care about covetous little looters like you and rderp....That's why I mock the shit out of you little drips.
     
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    Oddball is the right name for you...................shitHEAD,I'm the liq I kick shitheads asses :clap2::clap2:tl:lol::lol:
     

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