Laid-Off Workers At Bain-Owned Companies Slam Romney
Laid-Off Workers At Bain-Owned Companies Slam Romney
Benjy Sarlin
CHARLOTTE Employees at three companies that went bankrupt after being taken over by Bain Capital spoke at the Democratic convention on Wednesday, accusing Romneys firm of exploiting workers for profit.
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The most dramatic tale came from Randy Johnson, a former worker at Bain-owned Ampad in the 1990s, who described how the private equity group took over the company, fired its workers, then invited them to reapply for jobs with lower benefits.
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David Foster, a former steelworker at GST Steel in Kansas City, accused Bain of fatally damaging the company for its own gain.
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A former worker at Bain-owned medical supply company Dade Behring, Cindy Hewitt, recounted how the firm laid off workers and loaded the company with debt. It went bankrupt in 2002, while Romneys firm collected $242 million in profits. The company later was bought and recovered under a new name.
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