A lot can be said about a man and how he makes his money. You have those who add wealth by creating things – Henry Ford falls into this category. Then you have people like Mitt Romney, he invests money, that’s it! He then tells the industrialist, like Henry Ford, to lay off workers, in order to increase his own personal wealth.
Well, Mitt Romney has profited handsomely by laying off people for his own personal gain. In fact he made, $20,000 per laid off worker.
In an article by The Street.com they break down how Romney profited immensely off the suffering of his fellow American citizens.
So, as Romney tours the country, telling Americans he knows how to create jobs better than President Obama, remember how he became so wealthy.
Here is the breakdown from the article:
• American Pad & Paper: Bain invested $5 million in the small paper company in 1992, and reportedly collected $100 million in dividends on that investment. AMPAD went bankrupt in 2000, laying off 385 employees.
• Dade Behring: Bain Capital invested $415 million in a leveraged buyout in 1994, borrowed an additional $421 million, and ultimately walked away with $1.78 billion. Dade filed for bankruptcy in 2002, and 2,000 workers lost their jobs.
• DDI Corporation: Bain Capital reportedly invested $46.3 million in 1997, reaping $85.5 million in profits and an additional $10 million in management fees. When the company later went bankrupt, 2,100 workers were laid off.
• GS International: In a somewhat less profitable transaction, Bain Capital invested $60 million in 1993 and received $65 million in dividends. This company, too, went bankrupt in 2002, and 750 workers lost their jobs.
• Stage Stores: Bain invested $5 million to purchase the company and took it public in the mid-’90s, reaping $100 million from stock offerings. Stage filed for bankruptcy in 2000, and 5,795 workers reportedly were laid off.
America can not afford a President who puts profits before people, ever!