Originally Posted by Bucco

HERE, after doing some checking and verifying are the SLIMY DETAILS as you refer to them.

After reading this does it not make all you folks proud of your President for allowing this kind of insinuation go over public airways !

This is despicably campaigning at best.

This is actually embarassing to think that the President would allow this and that folks on here area jumping on the bandwagon.

1993 Bain buys the GST mill.

At this time the steel industry was on its death bed unable to compete with foreign and this plant was dying. This plant at its best employed 4500 and by the late 80's was down to 1000. ARMCO who owned the plant had decided that they either sell it or close it down as it was antiquated and needed lots of work. ARMCO had no money to invest and thus in stepped Bain Bain and some other investors bought the plant for 80 million. They renamed it GS Tech and put another 100 million into moderenization Things go better for the company

1994 Things going so well they can pay a divedend

Late 1990s The late 1990s saw a new outpouring of cheap steel from elsewhere around the globe. The Asian financial crisis walloped the mining industry, cutting demand for GST products. The price of GST's electricity and natural gas skyrocketed. The union dug in, refusing to make concessions. By April 1997, it was on strike, shooting bottle rockets at guards. Labor costs spiked, and by 1999 GSI was reporting $53 million in net losses.

1999 (EARLY) Romney leaves Bain Capital

2001 GST Steel goes bankrupt

NOTE...At the time, GST’s union blamed the company’s bankruptcy on the political class, for failing to hamstring imports. “We can’t compete against the steel imports that are being sold under cost,” said the president of GST’s union in 2001. “Our pleas fell on deaf ears in the political arena.” The Bush administration would ultimately slap on giant tariffs.

The bankruptcies were led by unionized companies that, like airlines and textiles and Detroit, had negotiated pay and benefits that helped drive their employers under.

2006 The woman in the ad dies of cancer. Having had insurance from the day her husband was out of work until she died.

The company that this particular mill was under GS Industries, employed 3,500 and that the Kansas City plant (with 750 workers) was the only one shuttered. Other plants were bought and operate today. Nor does it mention Bain’s other steel investment in the early 1990s, in an Indiana start-up called Steel Dynamics. The firm touts innovative technology and a nonunion workforce. It today reports $6.3 billion in revenue—25 times what it claimed in its 1996 IPO—and employs 6,000.

"It features B.C. Huselton, a former vice president at the company, defending Bain's investment in GST Steel as more helpful than hurtful.

Huselton says he felt compelled to come forward in response to Democratic attacks: “I held my tongue while this was all going on, and I finally said, ‘I can’t take this anymore.’ We did a lot of good work there and somebody needs to know this.”

"Did it all work out? No. Did we make a difference? I think we made a big difference," he says. "There’s this vampire story that Bain comes in and shows its teeth and sucks the blood out of the operation. It was really entirely the opposite of that. We went looking for a blood donor."

Strassel: Vampire Capitalism? Please - WSJ.com

Timeline: GST Steel UPDATED | Fausta's Blog

Mitt video defends GST Steel deal (Updated) - POLITICO.com


PLEASE VALIDATE FOR US WHERE YOU GOT YOUR "SLIMY DETAILS" from and how they differ from mine.