go pull more stuff out of your Wrote:
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> I see Bain is a monstor [sic] when it saves money for
> investors.
You're none too bright, so reading this slowly may enhance your understanding.
Romney and Bain made over $100 million, a 2000% return, from a company that was driven into bankruptcy while workers, shareholders, and communities were devastated.
In 1992, Romney’s Bain Capital bought American Pad and Paper (Ampad) for $5 million. Bain began increasing the company’s debt dramatically in order to pay fees to Bain and finance rapid acquisitions. In three years, Bain had brought the company’s debt from $11 million to $444 million. At the same time, Bain was slashing wages and retirement benefits for workers.
In 1995, Bain shut down an Ampad plant in Marion, Indiana, costing 200 jobs and devastating the community. Just months after shutting the plant, Bain had Ampad take on even more debt in order to pay Bain $60 million. Bain even took millions in fees for itself when it had Ampad take on debt to acquire new companies.
In 1996, Romney’s Bain sold 40% of its shares for $15 a share soon after taking the company public. By 1998, Ampad’s stock was virtually worthless and collapse due to the company’s unsustainable debt seemed imminent.
Numerous workers and managers from Ampad and former Bain executives have contradicted Romney’s statements on his involvement with the company.
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