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Showing posts with label Bain Capital. Show all posts
Showing posts with label Bain Capital. Show all posts

Sunday, September 09, 2012

More Lies From DNC- Steelworker Did Not Work For Bain

More lies from the Democratic National Convention.

According to ABC News (and kudos to them for breaking the story), David Foster- one of several steelworkers speaking at the DNC- was introduced as one of three “former employees of companies controlled by Bain Capital” who had been mercilessly fired from the company when it went bankrupt.

Trouble is he was actually a union organizer who wasn't even on GST Steel's payroll other than being a union lead negotiator, so was never  "fired", so to speak.

“David Foster was never an employee of GST Steel’s Kansas City plant. He was employed by the United Steelworkers of America as their regional union director to represent GST Steel, but was not employed at our facility,” according to BC Huselton, who was head of HR at GST.

Lumping in Foster with two former employees, if they indeed were, makes one assume he too worked at Bain. He did not!

Independent Journal Review is spot on when it says:

Leave it to the Democrat Party to get a union negotiator to give a prime-time speech to the American people, who then misrepresents his position with a company for political purposes, and acts as if people are entitled to a job and a certain salary at a private company.
The Democrats will do anything to win, and the people who vote for them are too ignorant or blind to question.



Wednesday, August 08, 2012

All Lies- Priorities USA's AD Claiming Romney Killed Steel Worker's Wife

CNN exposes the blatant lie regarding Obama SuperPac Priorities USA Action's shameful ad blaming Mitt Romney for the death of steel worker Joe Soptic's wife.

Soptic's wife actually died a good FOUR years or so AFTER the plant closed, not 22 days as they would have us believe. And way after Romney had left the day to day operations.

CNN's Brianna Keilar is reporting that steelworker Joe Soptic's wife was insured through her employer, Savers Thrift Store. She was laid off from her job in 2002 or 2003, Soptic told CNN, at which point she lost her health insurance. So it would appear that Joe Soptic's firing had nothing to do with his wife's health insurance.

Priorities USA strategist Bill Burton told Keilar that the super PAC was not attempting to draw the connection between Romney and Soptic's wife's death. But as Keilar pointed out, that's the conclusion that many are drawing.

And the liberal Washington Post fact check awards the ad a whopping 4 out of 4 Pinocchios, and gives a more detailed account of the major misinformation.

I guess every fired employee can now blame every business owner, corporate CEO, and in a bad economy the POTUS, if anything happens to them or their loved ones.


Monday, July 16, 2012

NY Times: "No Evidence" Tying Romney To Bain After 1999

The traditionally liberal New York Times had this to say about Mitt Romney and Bain Capital.

Indeed, no evidence has yet emerged that Mr. Romney exercised his powers at Bain after February 1999 or directed the funds’ investments after he left, although his campaign has declined to say if he attended any meetings or had any other contact with Bain during the period. And financial disclosures filed with the Massachusetts ethics commission show that he drew at least $100,000 in 2001 from Bain Capital Inc. — effectively his own till — as a “former executive” and from other Bain entities as a passive general partner.

An offering memorandum to investors in Bain’s seventh private equity fund that was circulated in June 2000 also suggests that Mr. Romney was no longer actively involved in managing firm investments at the time. The memorandum, first published by Fortune, provides background on the “senior private equity investment professionals of Bain Capital.” Eighteen managers are listed; Mr. Romney is not among them.

On another filing with Massachusetts officials, Bain Capital listed all of Bain’s directors and officers for 2001. The form lists Michael F. Goss as “president, managing director and chief financial officer,” along with seventeen other managing directors. Mr. Romney is not among them, suggesting that while he still owned Bain’s management company, he was not an officer of the company.

By August 2001, Mr. Romney had announced that he would not return to Bain Capital. Talk was already swirling about a bid for Massachusetts governor; behind the scenes, Mr. Romney was negotiating his final departure from Bain. Mr. Romney’s partners agreed to pay him a declining portion of the firm’s profits in buyout deals and other businesses for 10 years. The deal, signed in 2002, incorporated a payout formula reflecting his passive role in the firm from February 1999 forward, officials said.

Will Obama apologize? Nope. In fact, he's ratcheting up the attacks. Would I believe Romney over Obama? You betcha.

So Romney, during his actual tenure at Bain, created a very successful company and is exactly what this country needs.

H/T Newsmax

Saturday, June 02, 2012

Bill Clinton Praises Romney's Time At Bain

Bill Clinton pulled a Cory Booker when he praised Mitt Romney's business acumen and time at Bain Capital. Booker is the Newark, New Jersey mayor who initially told Barack Obama to back off on the Bain criticism. Clinton also suggested Obama do the same thing.

Clinton praised the GOP nominee for having a “sterling business career” and urged Obama to call off his campaign’s broadsides on Romney’s time as CEO of Bain Capital, a venture capital firm.

“I don’t think we ought to get into the position where we say this is bad work, this is good work,” Clinton said during a CNN interview.

“There’s no question that, in terms of getting up, going to the office, and basically performing the essential functions of the office, a man who’s been governor and had a sterling business career crosses the qualification threshold.”

Those sound bites are going to wind up on some Romney ads.