Gazillionaire financier Mitt Romney is the latest "CEO President" offered up by the GOP, on a platform of "job creation." When Romney oversaw Bain capital, he supervised the takeover of American Pad and Paper. When the deal was complete, the 258 employees were marched out of the Marion, Indiana factory, told they were fired, and told they could re-apply for their jobs at lower salaries and with fewer benefits. They were warned that some of them would not be re-hired. A long piece in the Christian Science Monitor, Ron Scherer and Leigh Montgomery consider the record of his imperial corporateness:
“We were told they bought the assets, not the union or the [labor] contract,” recalls Randy Johnson, who at the time worked as a machine operator and was a union shop steward. The workers – some the third generation in their families to have jobs there – eventually went on strike, and Bain closed the factory 5-1/2 months after acquiring it...
In an analysis of Bain Capital under Romney, the Journal estimated that Bain made $2.5 billion in profits on $1.1 billion invested in 77 separate deals. Of those 77 transactions, 22 percent ended with the firms in bankruptcy after the eighth year of the Bain investment. Bain disputes the Journal’s account as inaccurate.
Is Mitt Romney really a job creator? What his Bain Capital record shows.
Vtech is a ubiquitous Hong Kong-based electronic toy company whose kiddy tablets and other devices are designed to work with its cloud service, which requires parents to set up accounts for their kids. 4.8 million of those accounts just breached, leaking a huge amount of potentially compromising information, from kids’ birthdays and home addresses to […]
The new Raspberry Pi Zero is a $5 general purpose computer, manufactured in Wales, with more power than a 1980s personal computer.
BMG Rights Management and Round Hill Music. has been trying to enlist Cox Cable as an accomplice in a copyright trolling scheme, demanding that the company pass on copyright infringement notices that accuse users of downloading music and order them to pay large sums of music or face punishing lawsuits.
The Micro Drone 2.0+ is truly in a league of its own, offering a new perspective on aerial photography, and a world of technological capabilities that make flying ridiculously fun. Simply throw it in the air at any angle and its self-correcting algorithm will stabilize for smooth sailing in no time. You’ll stay entertained with […]
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This minimalist multi-tool will see to it that instead of rocking a tool belt, you’ll carry just one. It’s shaped slightly like a key and weighs less than an ounce, so it plays nice with your keychain. The strong surgical-grade stainless steel blade will last, and is handy for everyday tasks like opening boxes and […]