With all of the examples these idiots in the Obama campaign can take of Bain, they manage to find one where Romney was already gone, and the only people working at Bain at the time this Steel mill got shut down were Big time Obama supporters!!! Like I said, its Amateur hour at the White House, and only the dimmest bulbs are not bright enough to see it. DEMS ATTACK ROMNEY OVER LAYOFFS MADE BY OBAMA BUNDLER Realizing that Obama's reelection is in serious jeopardy, the President's campaign today released a two-minute ad slamming Mitt Romney for layoffs made at a company controlled by Bain Capital. The ad is built around interviews with former steelworkers at GST Steel, a mill in Kansas City, who were laid off as the company collapsed in the wake of a downturn in the steel market. The ad is certainly gripping and emotional. It is also, however, completely wrong. The company was shut down in 2001. Romney left Bain in 1999, long before the plant closing, to run Winter Olympics. Two years is an eternity in the business world. Blaming Romney for decisions made two years after the left the company is at best disingenuous. <iframe width="560" height="315" src="http://www.youtube.com/embed/sWiSFwZJXwE" frameborder="0" allowfullscreen></iframe> However, there was a political power-player serving as a director of Bain at the time of the company's bankruptcy and layoffs--Jonathan Lavine. Lavine joined Bain in 1993. He is currently Managing Director and Chief Investment Officer. He is also a major bundler for Barack Obama, raising between $100-200k for the his reelection. While we don't know the specific role Lavine had in decisions regarding the bankrupt company, he certainly had more influence than someone who had left Bain two years before. Perhaps Obama should use some of Lavine's donations to help the steelworkers featured in his ad.
Company was already doomed by 1999 Nevertheless, net losses at the company grew to $52.9 million in 1999 from $16.1 million in 1997, while operating income dropped to $9.6 million from $37.9 million over the same period -- not enough to sustain the firm's debt and obligations for long.
Company was already doomed in 1997, so now your line of attack is that Romney didnt do a good enough job turning the company around, before he left? Tell me something, how many private sector companies has Obama ever run?
It's probably going to take at least 16 years to fix up this mess, Obama is simply not the right person at this time for the job. I would urge Obama to run again in 2028 for his non-consec 2nd term when everything has settled down and when the memories of Obamaism and the disaster it has created has subsided.