Mitt Romney's Bain Capital and GST Steel

GST Steel: Bankruptcy and bailouts
Kansas City’s GST Steel was a successful company that had been making steel rods for 105 years when Mitt Romney and his partners took control in 1993. They cut corners and extracted profit from the business at every turn, placing it deeply in debt. When the company eventually declared bankruptcy, workers were denied their full pensions and health insurance, and the federal government was forced to step in and bail out the pension fund.
http://www.romneyeconomics.com/gst/gst-intro

Reuters
Special report: Romney's steel skeleton in the Bain closet
http://www.reuters.com/article/2012/01/06/us-campaign-romney-bailout-idU...

No votes yet

What does this have to do with the questions JM asked you?

MikeyA

Putting aside the fact that by 2001, Romney had left Bain and was running the Salt Lake City Olympics, it is absurd to examine the collapse of one steel company without mentioning the broader context of the consolidation of the American steel industry in the preceding decades. The United States once dominated the steel market. The U.S. share of global steel production ranged from 28 to 46 percent in the 1950s, according to data from the U.S. Geological Survey. From there, it slipped to 20-26 percent in the 1960s, and below 20 percent in the 1970s. By 2001 -- the year GST declared bankruptcy -- that share had dropped below 11 percent. By 2010, it was less than 6 percent.

Any statement I make is the opinion of me exercising my first amendment right to freedom of speech. Freedom of speech in the United States is protected by the First Amendment to the United States Constitution and is generally permitted.

In 1993 Bain acquired the Armco Worldwide Grinding System steel plant in Kansas City, Missouri and merged it with its steel plant in Georgetown, South Carolina to form GST Steel. The Kansas City plant had a strike in 1997 and Bain closed the plant in 2001 laying off 750 workers when it went into bankruptcy. The South Carolina plant closed in 2003 but subsequently reopened under a different owner. At the time of its bankruptcy it reported $553.9 million in debts against $395.2 in assets.

Any statement I make is the opinion of me exercising my first amendment right to freedom of speech. Freedom of speech in the United States is protected by the First Amendment to the United States Constitution and is generally permitted.

http://www.youtube.com/watch?feature=player_embedded&v=Q2w7iXazNso

Any statement I make is the opinion of me exercising my first amendment right to freedom of speech. Freedom of speech in the United States is protected by the First Amendment to the United States Constitution and is generally permitted.

Two questions for you wolfie...

1) What year did Mitt Romney leave Bain Capital?

2) What year did GST Steel close?

Now be a good mutt and fetch those answers for me. While you're at it, take a look at Bain's current Managing Director and Chief Investment Office Jonathan Lavine. He was a director at Bain around the time GST Steel went under. Lavine has some political connections as a bundler for another guy who is running for president. I think he goes by Barry...

Looks like Fred helped you out. And seeing as how facts are hard for you to recognize, you should probably thank him.

Reuters
Special report: Romney's steel skeleton in the Bain closet
http://www.reuters.com/article/2012/01/06/us-campaign-romney-bailout-idU...
Quotes from article:

"The steel company declared bankruptcy in 2001. Romney continued receiving dividends from Bain after his departure. He accumulated a personal fortune of between $190 million and $250 million, according to campaign disclosure forms."

"Overall, Bain made at least $12 million on the steel company it created by merging the Kansas City mill with another in South Carolina before the new entity declared bankruptcy in 2001. Bain also collected an additional $900,000 a year through 1999 for management consulting services, public filings show."

"Former company executives say they were generally satisfied with Bain's leadership, but they say the firm would have been better equipped to weather tough times had it not been saddled with such a heavy debt load.
They also fault Bain for putting inexperienced managers in place and spurning a buyout offer from a competitor. Workers say efforts to cut corners often backfired, driving costs higher.
The Kansas City millworkers, meanwhile, are still fuming, after being left with no health benefits and a reduced pension check.
"Romney cost me lots and lots of sleepless nights and lots and lots of money," said Ed Stanger, who worked at the plant for nearly 30 years."
(FULL ARTICLE)
http://www.reuters.com/article/2012/01/06/us-campaign-romney-bailout-idU...

Statements made are the opinion of the writer who is exercising his first amendment right to freedom of speech. Freedom of speech in the United States is protected by the First Amendment to the United States Constitution and are generally permitted.

Hey Paul, there is some guy on TT using a version of your screen name. He goes by wolfman1, funny isn't it? He's following your modus operandi though by posting videos and cut and paste posts without any real substance. If it's you you'll have to stop complaining about being kicked off. Oh by the way have you discovered the proof yet of my asking for your deletion?

Any statement I make is the opinion of me exercising my first amendment right to freedom of speech. Freedom of speech in the United States is protected by the First Amendment to the United States Constitution and is generally permitted.

YOU are the source of limiting free speech in Toledo Fred! When one calls the HATE radio station and gives a competitive argument the ignorant hosts go into overdrive to limit the damage/control to their faulty logic and waxed egos. When one posts to the internet the trolls work to kill and control the messenger by complaining to the site host. We'll see if I'm allowed to continue to differ on that "OTHER" site or will the number one propagandist in Toledo complain again to have me deleted, censured, and blackballed because the WOLFMAN arguments are too compelling.

Statements made are the opinion of the writer who is exercising his first amendment right to freedom of speech. Freedom of speech in the United States is protected by the First Amendment to the United States Constitution and are generally permitted.

wolfman needs to learn a little bit about "editorial control" and what that means to a radio show or a website.

Secondly, he amazingly has so much time to post yet can't answer the simple little questions JeepMaker asked of him.

MikeyA

MikeyA will you not understand I think most of what you post is not worthy of a reply. JeepMaker is a disgruntled UAW Jeep line worker who is now retired enjoying a Jeep pension with full healthcare benifits saved by his president Obama. Yet he criticizes while he conspires against the hand that feeds him. Go figure? So please Mikey trolling will not make me answer idiotic mindless questions. Guten Tag!

Statements made are the opinion of the writer who is exercising his first amendment right to freedom of speech. Freedom of speech in the United States is protected by the First Amendment to the United States Constitution and are generally permitted.

Troll You keep using this word but you don't know what it means. http://en.wikipedia.org/wiki/Troll_%28Internet%29 How is my insistence for a response troll-like behavior within the definition?

"JeepMaker is a disgruntled UAW Jeep line worker who is now retired enjoying a Jeep pension with full healthcare benifits saved by his president Obama. Yet he criticizes while he conspires against the hand that feeds him. Go figure?" So because of what he used to do and because of where he gets a portion of his money now you feel entitled to not answer his very fair questions. So because you're an admitted liar do we get to dismiss any fair question you might ask?

"So please Mikey trolling will not make me answer idiotic mindless questions." How were they idiotic and mindless?

You posted a list of people involved in politics who had not served in the military under the premise that their opinions should be dismissed. He asked if you served in the military? I fail to see how this is idiotic. Please explain.

Danke Schoen!

MikeyA

see below

Any statement I make is the opinion of me exercising my first amendment right to freedom of speech. Freedom of speech in the United States is protected by the First Amendment to the United States Constitution and is generally permitted.

This from Toledo Talk, as posted by jr-The reason his account was deactivated before was because he violated multiple site rules in a very short period of time after he had been warned multiple times during the previous year not to do certain things. Apparently, he thinks the rules don't apply to him.

Any statement I make is the opinion of me exercising my first amendment right to freedom of speech. Freedom of speech in the United States is protected by the First Amendment to the United States Constitution and is generally permitted.

As you may know most of Toledo's blog sites are decidedly conservative. Some allow full freedom of speech while others are partisan in nature. I acknowledge their right of ownership to set the rules. My only wish is they adhere to them fairly. Consider the following record of deleted posts from TT. The record stands that Fred had complained at both deleted TT threads of his very public court records being exposed further to the Toledo audience. This interned a deactivation of WOLFMAN's long held account at TT. The record is clear. The Wolfman's continual exposure of mistruths, half-truths, and propaganda repeated daily by public figures in electronic media has become a threat to the right wing extremists among us.
As Fred is the negative nayboob of extreme right wing radio in Toledo and JR is administrator of right leaning Toledo Talk (my opinion) do we know of any relationships not known between them?

Anyway again the following is the deleted time line record of Fred complaining to JR on TT about his public Lucas County court records posted to TT. Look it up! http://lcapps.co.lucas.oh.us/onlinedockets/TermsOfUse.aspx Its fine for Fred to bring up dirt on anyone else and talk about it on his radio show but God forbid fair play!

List of Fred's TT activity
http://toledotalk.com/cgi-bin/tt.pl/stream/fred

(1) fred added comment to Who should be paid more teachers, firemen, police, or a high school educated talk show host? on Mar 12, 2012 at 12:47:17 pm (Deleted)
http://toledotalk.com/cgi-bin/tt.pl/article/111626

(2) fred added comment to Lewiki:Contact (Administrator JR) on Mar 12, 2012at 12:49:55 pm (Deleted)
http://toledotalk.com/cgi-bin/tt.pl/article/12

(3) Wolfman account
User account deactivated Last logged-in visit: Mar 12, 2012
http://toledotalk.com/cgi-bin/tt.pl/profile/wolfman

(4) Wolfman1 account deactivated because of his political views.
User account deactivated
Last logged-in visit: May 14, 2012
http://toledotalk.com/cgi-bin/tt.pl/profile/wolfman1

(5) Look at the thread that the host deemed inappropriate and again deactivated his account.
http://toledotalk.com/cgi-bin/tt.pl/article/116433/16May2012/Mitt_Romney...

Statements made are the opinion of the writer who is exercising his first amendment right to freedom of speech. Freedom of speech in the United States is protected by the First Amendment to the United States Constitution and are generally permitted.

Well there it is, conclusive proof that I spend way toooooooo much time posting here and on TT. I'm still looking for the post where I request Paul Wohlfarth have his account deactivated. Apparently Paul wants us to believe that two posts marked deleted are the proof. What a novel idea! How can a blog be decidedly conservative when it allows both sides to post their opinion? I don't know, ask Paul.

Any statement I make is the opinion of me exercising my first amendment right to freedom of speech. Freedom of speech in the United States is protected by the First Amendment to the United States Constitution and is generally permitted.

You spent a long time researching that. Why didn't you spend the time answering JM's questions OR at least why you think "Did you serve in the military?" is an idiotic question.

In response to this post however, JR clearly stated that you were warned and continued to violate the rules of HIS site. The fact that you keep talking about it just proves you're a whiney little bitch who cries when he doesn't get his way. It doesn't surprise me though. Most dishonest people are whiney little bitches too.

MikeyA

BS

Bullshit. You got kicked off ToledoTalk for acting like a complete and total ass. You're lucky JR runs ToledoTalk - I would have deleted your account and sought an injunction against you to keep you away from my site. JR is more tolerant than I.

Mad Jack
Mad Jack's Shack

It is never noted in the Obama ad that GST Steel had troubles long, long before Bain Capital bought the company. In fact that Bain bought them in the first place is an obvious indicator that the company was in financial trouble. After all, that is what Bain did, buy troubled companies and try to turn them around or shut them down if that proves impossible.

Along those lines, a former GST worker told the National Review, the unions were the ones bleeding GST dry, not Bain.

I nearly choked on my Cheerios when I read that GST employees were blaming Bain for their downfall. I worked at GST Steel in Kansas City for four months in 1997 immediately after leaving the Navy.

Why only four months? Quickly after I started, I surprised to learn that several of my fellow USW Local 13-represented employees, mostly millwrights and electricians, we’re making between $100-130k. This was mainly due union-mandated overtime which, at least on a few occasions, consisted of the employees bringing in sleeping bags and pillows and sleeping in the shop. It would be hard for any company to stay competitive while paying double-time union wages to get their beauty sleep, but that’s not the half of it. The union employees obviously didn’t think they had it easy enough, so they went on strike in March of ‘97. The plant shut down for a couple of weeks until it re-started under the operation of management and non-union workers. The strike lasted a couple more months. I had a family to support, so I couldn’t afford to wait. I took another (non-union) job with another company. They shuttered the plant for good a few years later.

That’s Bain’s fault? Just classic.

It should be well known by now that when a legacy manufacturer (like steel manufacturers, car companies, etc.) goes under one of the biggest reasons is because unions have for decades raped the company to death.

But there is another major problem with linking the end of GST to Mitt Romney’s work with Bain. Romney wasn’t with Bain when GST went down. Romney had left Bain Capital in 1999, two years before GST’s 2001 collapse.

But there was at least one guy linked to today’s political landscape that was still at Bain when GST went down the tubes. Obama donor and a Bain managing director Jonathan Levine was working at Bain when GST went belly up.

So, the only person that worked for Bain when GST died was an Obama bundler that raised over $100,000 for Obama.

Curiously enough, that fact wasn’t in the Obama ad video, either.

Any statement I make is the opinion of me exercising my first amendment right to freedom of speech. Freedom of speech in the United States is protected by the First Amendment to the United States Constitution and is generally permitted.

It's hard to follow up on such a good post but I'll give it a try.

Basically what's happened is that America insanely decided to adopt globalism while keeping domestic unions going. They are totally incompatible. Globalism is a global-wage-averaging model, which for the First World means wages go DOWN. But unions oppose that. So the resulting hybrid system had to fail eventually.

Also, it's pretty well known (but not to Democrats, Liberals and other such scum) that the steel industry loaded up more and more with retirees. The unions and managers stupidly chose to use a defined-benefit pension model, which ultimately destroys a company. Mathematically, it must.

So however much I clear my nostrils in the direction of companies like Bain Capital in general and people like Romney in particular, it's no surprise to me what happened.

Gotta go, my hand is tired from smacking down Paul Wohlfarth

Any statement I make is the opinion of me exercising my first amendment right to freedom of speech. Freedom of speech in the United States is protected by the First Amendment to the United States Constitution and is generally permitted.

Not from typing Fred if you know what I mean?
http://lcapps.co.lucas.oh.us/onlinedockets/DocketDR.aspx?STYPE=1&PAR=DR2...

Statements made are the opinion of the writer who is exercising his first amendment right to freedom of speech. Freedom of speech in the United States is protected by the First Amendment to the United States Constitution and are generally permitted.

http://dnr.mo.gov/ENV/hwp/permits/mod007118029/information.htm
GST did not operate for 100 years. There was a company on that site since 1888 but as you'll learn from reading this Dept. Of Natural Resource report from Missouri the company had changed hands and names for many years.
The really interesting part of the report is this-Several of Armco’s processes stopped in the 1980s due to changing economic conditions. By 1983, production was limited to semi-finished and finished steel products. The melt shops, mills, and cleaning house were shut down by 1989. In November 1993, Armco sold about 300 acres of the property to GST Technologies Inc., doing business as GST Steel Co. In 1991, several structures were demolished and Armco announced the building of a heavy industrial business complex, called the “Sheffield Industrial Park”. GST Steel operated on their part of the property until they filed for bankruptcy in April 2001.

Any statement I make is the opinion of me exercising my first amendment right to freedom of speech. Freedom of speech in the United States is protected by the First Amendment to the United States Constitution and is generally permitted.

As both sides will agree, this was no hit-and-run job. GS was paying dividends by 1994. That same year, management announced plans for a $98 million plant modernization.

In 1995, Bain merged GS with a South Carolina firm to form one of America’s largest mini-mill steel producers. Bain reinvested $16.5 million of its earlier dividend to pull the deal off. When a global corporate giant, the Rotterdam-based Mittal Steel, reportedly offered to buy the company out at a profit to Bain, the Bain-backed management turned the deal down. Bain was giving GS an opportunity to succeed on its own terms as an American-owned company.

In a stab at fairness, the Reuters article quotes analyst Charles Bradford on GS Industries’ failure to survive: “If you look at the steel companies that went under at the time,” said Bradford, “all of them were unionized.”

My contact, who prefers to remain anonymous for understandable reasons, was more blunt. “The true villain in this tale was the Steelworkers’ Union,” he writes. “They had crippled Armco-KC, as they had so many other once-great companies, and were hell-bent on frustrating Bain or anyone else in restoring sanity to the un-real world they had created.”

This former GS exec calls the union “corrupt.” As he tells it, union leaders were “ideologically committed to making sure that private equity could not replace the old management/ownerships that they had beaten into submission over decades.” He adds unsparingly, “They were prepared to commit suicide rather than let Bain succeed, and they achieved their goal.”

Reuters does concede that a 1997 strike at the plant “turned nasty.” The union’s peccadilloes included the shooting of bottle rockets at security guards, pounding on the windows of vehicles as they left the plant, and flattening the tires of non-union trucks.

According to my contact, Bain made its share of mistakes. Its execs thought they could reason with the unions and out-negotiate Mittal Steel. They were wrong on both counts, and they paid the price.

http://www.ingramsonline.com/Feb_2012/btl.html

Any statement I make is the opinion of me exercising my first amendment right to freedom of speech. Freedom of speech in the United States is protected by the First Amendment to the United States Constitution and is generally permitted.

Nice try Fred!
U.S. Steelmakers' Charge of Dumping Carries Weight
November 14, 1998
http://articles.latimes.com/1998/nov/14/news/mn-42634
Quote:

"The Russians are so desperate that they don't care about price," said Kenneth Hoffman, analyst for Prudential Securities. "They are just interested in getting hard currency."

"Friday's preliminary finding by the ITC could lead to a ruling as early as February on the dumping charges. That could result in retroactive duties of nearly 200% on the imported steel. Meanwhile, additional cases against steel products from other countries, most notably South Korea, are expected."

"Despite the dramatic numbers for hot-rolled steel--a tripling of tonnage from Japan, Russia and Brazil and a price plunge of nearly 20% since last winter--analysts say the claims of dumping might be difficult to prove."

"One complicating factor is the huge currency devaluations in the exporting countries. Currency values have plummeted by half or more in Asia and Russia, which makes their exports dramatically cheaper in dollars."

Statements made are the opinion of the writer who is exercising his first amendment right to freedom of speech. Freedom of speech in the United States is protected by the First Amendment to the United States Constitution and are generally permitted.

Paul, I am not the author of the cited article any more than you are of your cut and paste extravaganzas. I merely posted it so people would have more of a balanced look at what was happening in the steel industry in the United States at the time of the GST downfall. I think it's comical on your part to post an article with the headline "steelmakers charge of dumping carries weight" while in the body of the article, which you obviously didn't read fully, it says "analysts say the claims of dumping might be difficult to prove."
Now pick yourself up off the mat before the ten count and try again.

Any statement I make is the opinion of me exercising my first amendment right to freedom of speech. Freedom of speech in the United States is protected by the First Amendment to the United States Constitution and is generally permitted.

Dumping continues as a leading cause of our economic problems. Republicans have pushed for these trade agreements which Wall Street has profited handsomely. Now the economy is a shell of its former self and you think lower wages to compete are the answer. Unbelievable! Do you know today Russia and China have set up trade barriers to protect their workers and economy. In Russia, the Wall Street Journal article said, tariffs add as much as $22,000 to the price of a imported Jeep; in China, tariffs add as much as $37,000. So who set up this trading system? Are you foolish enough to think lower wages... wages that contribute to only less than 10% of a vehicle cost will make a company competitive?

Statements made are the opinion of the writer who is exercising his first amendment right to freedom of speech. Freedom of speech in the United States is protected by the First Amendment to the United States Constitution and are generally permitted.

Once again an 0bama sheep conveniently forgets it was Bush that started the auto bailouts.
Your messiah 0dumbo has accomplished so little he has to take credit for things he didn't even start. He damn sure won't take the blame for anything though will he?

How about he take credit for increasing the national debt by 5 trillion dollars? Know how much $5 trillion dollars is? If you spent a dollar every second of every day 24/7 it would take you about 150,000 years to spend $5 trillion.

As far as conspiring against the hand that feeds me? Fuck you, I EARNED my pension with 32 years of hard, honest work. Outside of a few short sick leaves for various surgeries, I only missed about 4 or 5 days of work in 32 years. How many union appointed jobs did YOU have?

"We're all riding on the Hindenburg, no sense fighting over the window seats"-Richard Jenni

This is a tough question to answer. If you answer yes it means you know of a relationship which is not known, which is pretty much impossible. If you answer no, then it proves the "not known" theory of a relationship.
Anyone else having trouble signing in to TT? I'm not, I just wondered if anyone else was.

Any statement I make is the opinion of me exercising my first amendment right to freedom of speech. Freedom of speech in the United States is protected by the First Amendment to the United States Constitution and is generally permitted.

Fred is disgruntled. Fred's personal problems have clouded his rationality and made him bitter. Fred finds the WOLFMAN so threatening that he will do anything to discredit his message. If you notice Fred does not contribute for long stretches of time till the WOLFMAN posts, then a deluge of disinformation is offered. Wolfman has been a huge driver of political discussion on TT. The comments many times degenerate in distraction by contributors who have nothing to offer or challenging. I encourage the viewers to review the following thread that resulted in the TT deactivation. This was the first post I've made since the March 14th deactivation when Fred's complaining resulted in my first deactivation. In reviewing the following link, notice the WOLFMAN1 did not use profanity, did not post in an a inappropriate forum. but was staying on message till a known internet troll, a administrator and a insecure Toledo radio talk show host changed the subject to personal attack. We do not know of what correspondence took place off site but the results where again kill the non conformist!

http://toledotalk.com/cgi-bin/tt.pl/article/116433/16May2012/Mitt_Romney...

Statements made are the opinion of the writer who is exercising his first amendment right to freedom of speech. Freedom of speech in the United States is protected by the First Amendment to the United States Constitution and are generally permitted.

"We do not know of what correspondence took place off site ".....the Shadow knows. Hell Paul you don't even know if correspondence DID take place off site. We could be talking about you right now behind your back. Wolfman might be the topic of a whole separate internet site bent on keeping your ideas from ever reaching the light of day. The Koch brothers may be behind this whole thing and paying me to just monitor your posts to respong to them. That could be the source of my personal problems and my feeling of disgruntledness. But you'll never know because this world is so secretive that if you ever get close you will disappear even from SB. Bwahahahhahahahh

Any statement I make is the opinion of me exercising my first amendment right to freedom of speech. Freedom of speech in the United States is protected by the First Amendment to the United States Constitution and is generally permitted.

You know, if we could filter comments to exclude words like "fred" and "wolfman", this website would be a lot more readable.

Just sayin'.

Commentary? Yes! Personal beefs? No!

In fact I will no longer mention Paul Wohlfarth or Wolfman in any of my posts from this day forward. I will comment on the veracity of his information, differ with his opinion, and argue my points. I doubt he will do the same as a quick check shows most posts include some slam on me, my job, the station I work for etc etc. But you know what I like guest zero's idea.

Any statement I make is the opinion of me exercising my first amendment right to freedom of speech. Freedom of speech in the United States is protected by the First Amendment to the United States Constitution and is generally permitted.

I agree I will no longer use the name Fred Lefebvre as common courtesy if the constant complainer will reciprocate. If you ever noticed Fred thinks by using personal names he can silence, bully his opponents thus limit free speech. Well damn Fred it ain't working!

Insanity: "Doing the same thing over and over again and expecting different results"
Albert Einstein

Just look how this thread has degenerated from its original topic. You see we all don't believe your paid world view Fred. If you can't behave yourself then don't post on the thread!

GZ should be reminded of his deactivation at TT. Similar tactic was used against him. I didn't agree with it. In fact I believe I supported you when you got the boot! So I think limiting the use of monikers is just another slippery slope.

Statements made are the opinion of the writer who is exercising his first amendment right to freedom of speech. Freedom of speech in the United States is protected by the First Amendment to the United States Constitution and are generally permitted.

OMG it never ends with this guy.

1. GZ should be reminded of his deactivation at TT. Similar tactic was used against him. I didn't agree with it. Ok, again, prove where Fred had ANYTHING to do with your deactivation from TT. JR, TT site owner, has already stated that it was because you broke the sites rules.

2. "If you can't behave yourself then don't post on the thread!" Says the guy who makes up lies and dodges basic questions in an attempt to "bully his opponents thus limit free speech"

MikeyA

A minor correction, if indeed your viewpoint needs correcting: I was not deactivated at TT as far as I know. I posted my usual refutation of the housing bubblers and other such inflationistas, and Jr told me quite pointedly that he was going to delete such commentary of mine, and that I should not do it again. I can respect the notice if not the actual censorial nature of it. At that point, I told Jr publicly that if he's going to do that, then I can't continue to use TT any longer; I can't let the Housing Crime Syndicate win hearts and minds while I just stand by.

I don't know what happened after that. I logged off and never logged in again. I was advised to read the Toledo roller-hockey thread recently, but that's about it for my involvement with TT.

To sum it up: After Jr's warning, I left TT voluntarily. If Jr did anything to my account, he did so after I already left. Since it's his site, he can do that.

Well I guess I assumed you were deactivated after the spirited debate between you and JR about a year ago. I well can feel for your abandonment of TT. Many-a-time I've been slighted with what I felt as unfair treatment because of my differing opinions. Hell I've even had someone assume my full name as a blog poster giving libelous comments as my assumed identity but never were those comments deleted at the time, probably still out there. But I'm pretty much tolerant of such behavior. I never threaten people with litigation as some troubled radio talk show hosts do to quiet their critics. Anyway GZ I do value your opinions as genuine, with independent thought provoking analysis. Especially like your views on housing.

Statements made are the opinion of the writer who is exercising his first amendment right to freedom of speech. Freedom of speech in the United States is protected by the First Amendment to the United States Constitution and are generally permitted.

In my honest opinion, someone who constantly speaks of themselves in the third person, they are, shall we say, "troubled"?

Personally, I'd say they are fucked in the head, but that would be impolite. So I won't. :-)

"We're all riding on the Hindenburg, no sense fighting over the window seats"-Richard Jenni

In an attempt to bring this thread back to reality- in looking back at the history of GST, Kansas City one finds numerous instances of problems which led to their fall. Most of them occured long before Romney or Bain took over the company in the 90's. Many of them had to do with union intractability, management decision making, and global steel prices. Bain put the company in bancruptcy after Romney left of course but that doesn't fit the narrative for the Left. You will notice that not one story has mentioned the numerous success stories of companies that were near failing that prospered under Bain austere management.
The other major point if that Bain used PRIVATE capital, not TAX PAYER money as the government has done with Solyndra and Fisker (sp). Huge difference there. I'm guessing that the bond holders in the old GM who got completely screwed when Obama took over would like a second shot at retrieving their money.

Any statement I make is the opinion of me exercising my first amendment right to freedom of speech. Freedom of speech in the United States is protected by the First Amendment to the United States Constitution and is generally permitted.

A few of the companies kept in business by Bain Capital over the years. Dunkin' Brands, Applied Systems, Domino's Pizza Japan, The Weather Channel, Burlington Coat Factory, Gymboree, Michaels, Toys R Us. Kind of balances out the 750 GST Steel jobs.

Any statement I make is the opinion of me exercising my first amendment right to freedom of speech. Freedom of speech in the United States is protected by the First Amendment to the United States Constitution and is generally permitted.

Sorry, I'm not buying that argument. There isn't a company in that list that didn't have recourse to bankruptcy re-organization, or mergers.

You're right, they all could have filed for bankruptcy, re-orginazation or merger. The fact remains though they did not, they chose PRIVATE dollars to stay afloat and keep people employed.

Any statement I make is the opinion of me exercising my first amendment right to freedom of speech. Freedom of speech in the United States is protected by the First Amendment to the United States Constitution and is generally permitted.

P.S. As a curious person I checked and you are not "deactivated" though I did see that on another poster.

Any statement I make is the opinion of me exercising my first amendment right to freedom of speech. Freedom of speech in the United States is protected by the First Amendment to the United States Constitution and is generally permitted.

Bain Capital is a vulture capitalist picking the bones of the fallen. Their business model is to make at least 25% annual profits above all else. They made 12 million off of GST while long term employees lost their pensions and the company was saddled with huge unsustainable debt. Just because its a law or a rule doesn't make it morally right. These workers gave their lives to this company and because of unfairly negotiated/unenforced trade laws they lost everything they worked for over a lifetime. I find that appalling. With the Mittster look for more of the same!

Statements made are the opinion of the writer who is exercising his first amendment right to freedom of speech. Freedom of speech in the United States is protected by the First Amendment to the United States Constitution and are generally permitted.

Vultures like Bain Capital are only given their strength by the brainless participation of Americans in the stock market. Really, these things tend to always come back to us, the American public, as the true source of problems. We can't actually stop greedy dirtbags from conniving frauds behind the scenes.

Look at all the nimrods who bought back into GM, after they got f#%#$ on the common stock. Look at all the cretins who bought into Facebook. Our greed has overwhelmed common sense. Americans need to shun the stock market in order to return the system to sensibility and responsibility.

Choosing implies options. Options mean alternatives. Alternatives deny assertions of salvation.

Re-org or merging pretty much keep people employed at going concerns. So again I can't see your assertion about Bain Capital being true.

I would bet all the dealerships closed by the GM and Chrysler bailout would have loved an option even if it came with concerns.

MikeyA

The irony in this is the fact that many UNION pension funds heavily invest in private equity firms.
Of course that little fact doesn't jive with the libtard narrative that dogboy laps up and regurgitates.

"We're all riding on the Hindenburg, no sense fighting over the window seats"-Richard Jenni

AND

And don't forget how the GM bailout caused the non-union workers of Delphi to lose their pensions.

MikeyA

Do us all a favor JeepMaker if you despise your former employer so much just send your monthly pension check back to those that appreciate them and get a job with Fox News! Dofus!

Statements made are the opinion of the writer who is exercising his first amendment right to freedom of speech. Freedom of speech in the United States is protected by the First Amendment to the United States Constitution and are generally permitted.

Why don't you do us a favor and write a REALLY big check to help fund the last week of the Recall Walker effort! Seriously, they need the money.

MikeyA

wolfman, your favorite source of knowledge needs your help!!

http://washingtonexaminer.com/politics/washington-secrets/2012/05/moveon...

MikeyA

What's the matter asshole, does the truth hurt that much?

If you had a clue as to how pathetic you are you'd kill yourself.
You're nothing more than a trained parrot repeating what your handlers say.

Want a cracker?
btw, when you try to insult someone by calling them a doofus, it reinforces the fact that you're a moron when you don't even spell it correctly.

"We're all riding on the Hindenburg, no sense fighting over the window seats"-Richard Jenni

The irony of his comments is he bashes you for having a pricipled disagreement with the company you work for yet he thinks you should not receive any of the benefits you earned.

Yet he posts videos of veterans who disagree (on veterans day too, way to stay classy!) with military policy yet I don't see him publicly advocating them giving their GI Bill back.

MikeyA

Yeah, it's sad to think that a man who has achieved 50+ years of age has no opinion other than what he has been told to think. He'd never answer, but I'm guessing that he spent much of his time while "working", doing some sort of appointed union job. Hence he still figures he owes them.

"We're all riding on the Hindenburg, no sense fighting over the window seats"-Richard Jenni

His aversion to answering stems from his lack of knowledge and credibility. It's always easier to attack then be right, purnhrt has proved that here.

And you are correct it's sad but also disheartening to think one would be so trusting as to not think critically and believe what others told them to think. He attacks many of us on here and accuses us of the same but his sources are a who's who of only one side of the media and instead of answer with a logical response he instead resorts to deflecting and attacking.

Cue attack in 3.....2.....1......

MikeyA

I support Romney to run for Toledo City Council.

He's not a Toledo resident.

Any statement I make is the opinion of me exercising my first amendment right to freedom of speech. Freedom of speech in the United States is protected by the First Amendment to the United States Constitution and is generally permitted.

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