Romney's record

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  • 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 let go.
  • 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 let go.

Romney himself profited handsomely from his time at Bain Capital.


Although the exact details of his personal financials are not available, news reports estimate his net worth at somewhere between $190 and $250 million, much of it derived from his Bain Capital days.


Very rough math might suggest that Romney made as much as $20,000 per job lost.






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http://www.thestreet.com/story/11581069/1/mitt-romney-job-creator-or-corporate-raider.html
 
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