Romney Cost Me My Job Says Worker

A former employee of one of presidential candidate Mitt Romney's bankrupt companies says Romney's decisions cost him and many others their jobs. Randy Johnson who used to work for Bain Capital is in Des Moines, Iowa to make sure anyone who will listen knows how badly Romney mismanaged the Indiana paper plant where Johnson used to be employed. According to the Des Moines Register, Romney was the chief executive officer of Bain Capital in 1992 when the company purchased American Pad Paper, or Ampad, and oversaw the management of that company and others. Ampad went bankrupt in 2000, and investors netted over $100 million from the deal, according to the Boston Globe. Johnson and others from the Indiana paper plant where he worked traveled to Massachusetts during Romney?s Senate race against Democratic incumbent Ted Kennedy to express their concerns over not getting a fair shake from the new management. A few months later the plant was shut down. Johnson received a personal letter from Romney on the day the plant closed expressing his condolences about the turn of events. About 200 workers lost their jobs, and it didn?t have to be that way, said Johnson, who was told the plant was still making a profit when it was sold to Bain Capital initially.

Category:

News & Politics

Tags:

• mitt romney
• bain capital
• jobs
• randy johnson
• iowa
• iowa caucuses
• ted kennedy

[ziger123456]

@RedTory59 Telling the TRUTH is not sliming but defending an a crooked politician IS

[nbkw6ma]

LOL! 2 Romney supporters just like in real life.

[curtatlanta]

Yeah...by 1997 computers had pretty much replaced all those typewriters and notepads, but hey...lets blame that evil Mitt Romney.

[millen7]

Uptake video needs to change their logo to a hammer and sickle.

[1hebosss]

thats only 1 guy, plus that happened in 1994 when the economy was still pretty good, he isnt doing that this century

this is last century, y would anyone follow this shit

[DillonDee1]

Romney had many fired but his supporters say he did crearte 89K jobs at Staples

DONT BUY THIS BULLCRAP

An associate came to Romney w/ the idea that they could go into areas where they had 10 to 20 stationary stores, printing shops, & small office supply stores & put in one big store & undercut their prices & drive them out of business -- & do it w/ 1/3 the # of employees they had

STAPLES DIDNT CREATE JOBS -- IT DESTROYED THEM!

[shitstick63]

SCM had 88 million in sales with an 18 percent profit at that plant, before Ampad bought it. Ampad wanted a 25 percent profit and took the other 7 percent from the employees. SCM's typewriter division was in distress, not the paper division. This plant was in business for 103 years before Ampad under Bain Capitol bought the plant, and closed it.

[nikkiru2u]

@bman546 Tne poarasite in this situation was Bain Capital. They moved in, sucked out the assets from the company, looted the pension plan, and walked away with millions. Then, they left the government to cover the pension liabilities they'd looted out the assets from.

So they were n ot only a parasite to this company and its workers, but also to the taxpayer. This isn't just crony capitalism and vulture capitalism, it's welfare capitalism.

[bman546]

@nikkiru2u If a company is losing it's shirt, the choice is simple, reduce costs or go out of business. Many unions have become a parasite that succeeds in killing its host.

Randy Johnson is a useful idiot.

[nikkiru2u]

@bman546 You mean management refused to deal in good faith, forcing a strike?

Pleaste pay attention, instead of repeating wingnut, anti-worker talking points.

[bman546]

A lot of info is left out. Mead Paper owned Am Pad and announced they would cut 1,000 jobs during a two year period. Bain steps in and takes over in 1992. It was 2000 when they went bankrupt, a year after Romney left. AM Pad couldn't remain profitable with the current union contracts and needed to renegotiate. Instead of coming to the table to talk, the union went on strike. The strike caused the plant to close. Workers lost jobs when an unprofitable company went out of business.