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Laid-Off Workers At Bain-Owned Companies Slam Romney
Laid-Off Workers At Bain-Owned Companies Slam Romney
Benjy Sarlin
CHARLOTTE — Employees at three companies that went bankrupt after being taken over by Bain Capital spoke at the Democratic convention on Wednesday, accusing Romney’s firm of exploiting workers for profit.
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The most dramatic tale came from Randy Johnson, a former worker at Bain-owned Ampad in the 1990s, who described how the private equity group took over the company, fired its workers, then invited them to reapply for jobs with lower benefits.
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David Foster, a former steelworker at GST Steel in Kansas City, accused Bain of fatally damaging the company for its own gain.
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A former worker at Bain-owned medical supply company Dade Behring, Cindy Hewitt, recounted how the firm laid off workers and loaded the company with debt. It went bankrupt in 2002, while Romney’s firm collected $242 million in profits. The company later was bought and recovered under a new name.
- more -
http://2012.talkingpointsmemo.com/2012/09/laid-off-workers-at-bain-owned-companies-slam-romney.php
Benjy Sarlin
CHARLOTTE — Employees at three companies that went bankrupt after being taken over by Bain Capital spoke at the Democratic convention on Wednesday, accusing Romney’s firm of exploiting workers for profit.
<...>
The most dramatic tale came from Randy Johnson, a former worker at Bain-owned Ampad in the 1990s, who described how the private equity group took over the company, fired its workers, then invited them to reapply for jobs with lower benefits.
<...>
David Foster, a former steelworker at GST Steel in Kansas City, accused Bain of fatally damaging the company for its own gain.
<...>
A former worker at Bain-owned medical supply company Dade Behring, Cindy Hewitt, recounted how the firm laid off workers and loaded the company with debt. It went bankrupt in 2002, while Romney’s firm collected $242 million in profits. The company later was bought and recovered under a new name.
- more -
http://2012.talkingpointsmemo.com/2012/09/laid-off-workers-at-bain-owned-companies-slam-romney.php
