Wednesday, July 18, 2012

Mitt Romney the "Businessman" good for America?

Mitt Romney claims he is the best person to run America because he has run a business, lets take a look at how Mr. Romney runs business.


In 1990 Bain bought a stake in this company and Mitt Romney took a seat on the board of directors, he is on the company’s “strategic Planning” committee. In 1992 Romney is told that the company may not be following government regulations and are using practices which may no be deemed appropriate. In 1993 Damon was sold to Corning with Romney voting to approve the takeover, Corning immediately closed the Massachusetts plant laying off the 115 workers.

Corning uncovers fraud and alerts authorities,
The SEC filings made by Damon prior to the acquisition make no mention of any potential earnings write-downs or legal problems

Bain’s profits is over 7 million dollars. Damon is found to have committed over 40,000,000 dollars in Medicare Fraud between 1988 and 1993, Romney later claims to have uncovered the fraud and ask for an investigation but both Corning and the SEC dispute that.



Bain purchased a this company in 1999, it is believed they have made over 50,000,000.00 off this company and what is it they do? They are a medical waste company that includes incinerating fetuses after an abortion. That’s right Mr. Pro Life has made millions of dollars off of abortion which he claims to be against.



The company was bought by Mitt Romney and Bain in 1993, the company had been in business since 1888. The name was changed to GS Technologies but now for long as the company was closed and 750 people where locked out. Workers where denied severance pay and health care and their pensions where gutted. Bain made over 16,000,000.00 on the deal while the employees where out in the cold. The government had to step in and pony up 44,000,000.00 to bail out the pension fund.


Mr. Romney’s own company was about to go under when a deal was struck with the FDIC to forgive 10 million dollars in debt. This wasn’t a loan but is sure sounds like a bailout to me, if the FDIC hadn’t forgiven the debt would Bain have went under?

This is just a few of the questionable deals made by Mitt Romney and his Bain Capital before he stepped down in 2002. This doesn’t even cover the jobs he invested in who shipped jobs overseas to save on Taxes and cheaper labor. Yes he has had a few successes but do they make up for his shady or even illegal business decisions or all the jobs he has costs Americans to benefit himself? Unless he releases his tax return and accounts for all his money being held offshore we may never know exactly how much Damage Mr. Romney has done to American business just to make a few dollars.

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