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Falling deeper and deeper into debt is dong well?
Those employees worked 8 years longer than they would have had Bain not taken over. You can't win them all. Bain helped many more companies than those that had no choice but to collapse from the very beginning.
DDI, Dade, AmPad.
Yup, Bain helped them right into bankruptcy.
Is that what Romney is going to tell us in 2016 when he's run us into bankruptcy? You win some you lose some?
Are you as forgiving of the Solyndra "investment"?
Meanwhile, Obamination is secretly taking money from hedgefund people while bad-mouthing Bain Capital....
The question is who are these dumbfucks that keep giving him money when he trashes their careers? Do they really believe in social issues above their own lives?
Those employees worked 8 years longer than they would have had Bain not taken over. You can't win them all. Bain helped many more companies than those that had no choice but to collapse from the very beginning.
DDI, Dade, AmPad.
Yup, Bain helped them right into bankruptcy.
Is that what Romney is going to tell us in 2016 when he's run us into bankruptcy? You win some you lose some?
Are you as forgiving of the Solyndra "investment"?
AmPad made a disastrous mistake. It bought a typewriter manufacturing company that was going under because they believed that typewriters were going to make a big comeback. Bain thought that the failed expenditure could be recouped. It couldn't and the companiy's reliance on outdated industry couldn't be overcome.
obama has already run the nation into bankruptcy. I'll take Bain style management over obamas because Bain has been successful 95% of the time, obama has failed 100% of the time.
Meanwhile, Obamination is secretly taking money from hedgefund people while bad-mouthing Bain Capital....
The question is who are these dumbfucks that keep giving him money when he trashes their careers? Do they really believe in social issues above their own lives?
I know!
[youtube]vKyiC25Uwqw[/youtube]
Meanwhile, Obamination is secretly taking money from hedgefund people while bad-mouthing Bain Capital....
The question is who are these dumbfucks that keep giving him money when he trashes their careers? Do they really believe in social issues above their own lives?
I know!
[youtube]vKyiC25Uwqw[/youtube]
posted that earlier in the thread. Apparently, it's okay to take money from the enemy, as long as it's only a small amount.
I know!
[youtube]vKyiC25Uwqw[/youtube]
posted that earlier in the thread. Apparently, it's okay to take money from the enemy, as long as it's only a small amount.
No...its actually not. Make no mistake about it, Obamas a hypocrite. But he qualifies as "anyone but Romney"
Falling deeper and deeper into debt is dong well?
Those employees worked 8 years longer than they would have had Bain not taken over. You can't win them all. Bain helped many more companies than those that had no choice but to collapse from the very beginning.
DDI, Dade, AmPad.
Yup, Bain helped them right into bankruptcy.
Is that what Romney is going to tell us in 2016 when he's run us into bankruptcy? You win some you lose some?
Are you as forgiving of the Solyndra "investment"?
Those employees worked 8 years longer than they would have had Bain not taken over. You can't win them all. Bain helped many more companies than those that had no choice but to collapse from the very beginning.
DDI, Dade, AmPad.
Yup, Bain helped them right into bankruptcy.
Is that what Romney is going to tell us in 2016 when he's run us into bankruptcy? You win some you lose some?
Are you as forgiving of the Solyndra "investment"?
Bain did not use taxpayer dollars. Obama and his ilk did...
Oh, and some of it will come back to him in campaign contributions
This is nothing but a bullshit class warfare issue. We are smarter than this folks.
DDI, Dade, AmPad.
Yup, Bain helped them right into bankruptcy.
Is that what Romney is going to tell us in 2016 when he's run us into bankruptcy? You win some you lose some?
Are you as forgiving of the Solyndra "investment"?
Bain did not use taxpayer dollars. Obama and his ilk did...
Oh, and some of it will come back to him in campaign contributions
This is nothing but a bullshit class warfare issue. We are smarter than this folks.
Yes it very well did use taxpayer dollars.
44 million for the pension bailout alone.
And youre right. It is class warfare. And its about time we, the middle class taxpayer, started fighting back. Theyve been raiding our coffers for decades now.
You CANNOT be upset about Solydra and NOT be upset about GST. Its a contradiction.
Bain did not use taxpayer dollars. Obama and his ilk did...
Oh, and some of it will come back to him in campaign contributions
This is nothing but a bullshit class warfare issue. We are smarter than this folks.
Yes it very well did use taxpayer dollars.
44 million for the pension bailout alone.
And youre right. It is class warfare. And its about time we, the middle class taxpayer, started fighting back. Theyve been raiding our coffers for decades now.
You CANNOT be upset about Solydra and NOT be upset about GST. Its a contradiction.
I asked this before with no answer, wasn't that a Union pension fund?? Why didn't the Union pick up the pensions??
As part of the deal, Armco agreed to cover employee pension obligations if the plant closed within five years -- a $120 million liability, according to the Kansas City Business Journal.
In 1997, with Armco's pension guarantees set to expire in one year, the United Steelworkers local at the Kansas City plant was worried that GS was not setting aside enough money to cover pension obligations and other benefits in the event of a shutdown.
The U.S. Pension Benefit Guaranty Corp, which insures company retirement plans, determined in 2002 that GS had underfunded its pension by $44 million. The federal agency, funded by corporate levies, stepped in to cover the basic pension payments, but not the supplement the union had negotiated as a hedge against the plant's closure.
The agency's woes prompted Congress in 2006 to require companies to contribute more toward their pensions. Press accounts said this change accelerated the shift away from pension plans toward 401(k)s and other defined-contribution retirement plans that offer less security for workers.
http://www.reuters.com/article/2012/01/06/us-campaign-romney-bailout-idUSTRE8050LL20120106?irpc=932
The company that sold GST to Bain was Armco
As part of the deal, Armco agreed to cover employee pension obligations if the plant closed within five years -- a $120 million liability, according to the Kansas City Business Journal.
In 1997, with Armco's pension guarantees set to expire in one year, the United Steelworkers local at the Kansas City plant was worried that GS was not setting aside enough money to cover pension obligations and other benefits in the event of a shutdown.
The U.S. Pension Benefit Guaranty Corp, which insures company retirement plans, determined in 2002 that GS had underfunded its pension by $44 million. The federal agency, funded by corporate levies, stepped in to cover the basic pension payments, but not the supplement the union had negotiated as a hedge against the plant's closure.
The agency's woes prompted Congress in 2006 to require companies to contribute more toward their pensions. Press accounts said this change accelerated the shift away from pension plans toward 401(k)s and other defined-contribution retirement plans that offer less security for workers.
Special report: Romney's steel skeleton in the Bain closet | Reuters
First Armco, then Bain were responsible for setting aside money for their workers pensions. They didnt do it.
The company that sold GST to Bain was Armco
As part of the deal, Armco agreed to cover employee pension obligations if the plant closed within five years -- a $120 million liability, according to the Kansas City Business Journal.
In 1997, with Armco's pension guarantees set to expire in one year, the United Steelworkers local at the Kansas City plant was worried that GS was not setting aside enough money to cover pension obligations and other benefits in the event of a shutdown.
The U.S. Pension Benefit Guaranty Corp, which insures company retirement plans, determined in 2002 that GS had underfunded its pension by $44 million. The federal agency, funded by corporate levies, stepped in to cover the basic pension payments, but not the supplement the union had negotiated as a hedge against the plant's closure.
The agency's woes prompted Congress in 2006 to require companies to contribute more toward their pensions. Press accounts said this change accelerated the shift away from pension plans toward 401(k)s and other defined-contribution retirement plans that offer less security for workers.
Special report: Romney's steel skeleton in the Bain closet | Reuters
First Armco, then Bain were responsible for setting aside money for their workers pensions. They didnt do it.
I'm not seeing anything about Bain. I'm seeing Armco but not Bain. Could you point me in the right direction to see it??
The company that sold GST to Bain was Armco
First Armco, then Bain were responsible for setting aside money for their workers pensions. They didnt do it.
I'm not seeing anything about Bain. I'm seeing Armco but not Bain. Could you point me in the right direction to see it??
After the sale, everything that says GS is Bain...as they owned the company at that point.
I'm not seeing anything about Bain. I'm seeing Armco but not Bain. Could you point me in the right direction to see it??
After the sale, everything that says GS is Bain...as they owned the company at that point.
OK thanks for clearing that up.
When did Romney get bailed out?
44 million dolars to bailout GST steel pensions...Bain Capital walked away with 12 million in profits.
Santorum Attacks Romney for Olympics bailout
That bares no resemblance to what he said, moron.
When did Romney get bailed out?
44 million dolars to bailout GST steel pensions.
Said pension plan was underfunded before Bain Capital.
Yes or no?
Now you are just trolling, troll.
'The Kansas City plant had two product lineshigh-carbon rods and grinding media (used in mining)that it felt could give it a competitive edge. But it needed investment, and Armco was tapped out. Bain nonetheless saw some potential and in 1993 joined other investors to acquire it for $80 million. Management renamed it GS Technologies (which would become part of a larger GS Industries) and poured an additional $100 million into modernization.'
Strassel: Vampire Capitalism? Please - WSJ.com
They didnt INVEST $100 million. They issued $125 million in bonds then used that money to "modernize". That $125 million was then placed on GST as DEBT.
You see, it MATTERS where the money came from and how it went on the books.
Once again youre only presenting HALF the story and ignoring FACTS in order to suit your own ignorance based narrative.
You are correct.
They borrowed against the idea of an expansion.
They bought controlling interest for next to nothing in the hopes of turning the place around.
Venture capitalists are very aggressvie with debt. On many of the 78% successes, they used debt quite successfully.
What is the point ?
This was not a raid.
You bastards just won't let go of your left wing propaganda in spite of the facts.
GTS was already 3/4 of the way down the tubes. Nobody around here would touch it because of the environmental liability and pension liabilities alone. Bain didn't take on the pension.
