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Romney economics--job loss and bankruptcy at Ampad

randel said:
Romney Economics: Job Loss and Bankruptcy at Ampad - YouTube


for conservative, as he so loves youtube videos.....hard to believe some would elect a job destroyer like romney to the whitehouse
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Its laughable.. Obama has wiped out the jobs.. and never has so many abonded looking for a job...

I beer can could do a better job.. but Obama is actively looking to destroy the economy...

I will bet Romney has created more jobs personally then Obama has
 
Travis007 said:
Its laughable.. Obama has wiped out the jobs.. and never has so many abonded looking for a job...

I beer can could do a better job.. but Obama is actively looking to destroy the economy...

I will bet Romney has created more jobs personally then Obama has
Click to expand...
hmmm...2 minutes since i posted the link, so i know you havent watched it....next!!
 
randel said:
hmmm...2 minutes since i posted the link, so i know you havent watched it....next!!
Click to expand...

I know reality... Romeny has created more jobs.. so why are we focusing on this?... agenda?
 
Travis007 said:
Its laughable.. Obama has wiped out the jobs.. and never has so many abonded looking for a job...

I beer can could do a better job.. but Obama is actively looking to destroy the economy...

I will bet Romney has created more jobs personally then Obama has
Click to expand...


Stop trying to hijack threads with your silly Obama attacks.

If you can't comment on the OP, why do you post?
 
Did Romney/Bain close this plant and lose the SCM jobs or did they do it themselves...?

In the five weeks since the strike began, not one member of the United Paperworkers Local 154 has been willing to cross a picket line at the plant, which makes file folders, index cards, legal pads and while-you-were-out pads. The workers are getting by on $60 in strike benefits a week.

"We're effectively shut down," said Charles Hanson 3d, the chairman of Ampad, from his headquarters in Dallas.

THE 1994 CAMPAIGN: LABOR; Bitter Strike in Indiana Echoes in Massachusetts - New York Times

While I respect one's right to strike unfortunately sometimes you don't get what you want but rather exactly what you DON'T want. SCM is a textbook example of this.

As for Ampad...they are still in business...? But under another holding company now.

Pendaflex | Organizational products for the home and office

And of the $100m Bain profitted...

Among his big investors are leading universities, including Yale, Princeton, Stanford and Notre Dame, which have entrusted him with $300 million of their endowment funds. But in making those endowments grow, Mr. Romney and his 11 partners have become masters of the brutal job economy of the 1990's,

Lets see...it was those evil universities who promoted this 'job killing' in an effort to recognize profits...and growing University endowment funds helps who? OH yeah, those students who the President is now saying need so much help. Why is this now a bad thing?
 
randel said:
hmmm...2 minutes since i posted the link, so i know you havent watched it....next!!
Click to expand...


Don't you just love how some people begin their attack before hearing your argument :2rofll:
 
Travis007 said:
I know reality... Romeny has created more jobs.. so why are we focusing on this?... agenda?
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No sources, no argument, just stating it like a fact huh? At least you could spell his name right ;)
 
Even more revealing on how erroneous the video is:

First, Mr. Primack notes, Mr. Romney had taken a leave of absence when the Indiana company, SCM, was acquired by Bain portfolio company Ampad.
Romney's Presidential Run Puts Spotlight on Bain Capital - NYTimes.com

So when Ampad bought out SCM Romney was not involved. How is that incriminating?

Then the Ampad bankruptcy:

And on the morning of Feb. 11, 1999, Romney took on the responsibility of rescuing the Olympics. People didn't know whether to congratulate or console him.
The Fire Within

Plano-based American Pad & Paper L.L.C. has filed for Chapter 11 bankruptcy protection and plans to reorganize with new equity sponsorship that will result in a new ownership structure. (date of article 12/23/02)
American Pad & Paper files for bankruptcy - Dallas Business Journal

So if I follow the logic, Romney is responsible for SCM employees losing their jobs because Ampad, who Bain owned, bought them out when Romney was on a leave of absence? Then further he is responsible for Ampad’s bankruptcy which occurred three years AFTER he left Bain to manage the Olympics? Does this seem plausible to you? The video sure seems like a partisan hack piece to me...but of course it could be your challenge to change my opinion...
 
In 1994 Romney sidestepped questions related to the plant’s layoffs by saying he was on a leave of absence from the company at the time during his run for Senate. Romney’s explanation is similar to that he recently used to deflect recent Democratic criticism of Bain layoffs at GTS Steel, saying he had already left to run the Olympics when Bain acquired the company.
But according to a 2002 interview with former managing director of Bain Capital Marc Wolpow, Romney was directly responsible for Ampad’s layoffs. Wopow and a fellow Bain partner sat on the board of directors of Ampad, and were responsible with carrying out the Bain business plan that caused the layoffs.
“My job was to maximize the profits to Bain Capital's partners from the Ampad transaction,'' Wolpow told the Globe in 2002.
Wolpow said Romney was responsible for the business plan carried out by Bain in Indiana.”Mitt's employees executed that transaction,” he said. “We carried out the business plan. He was CEO of the firm.”
''I reported directly to Mitt Romney ... You can't be CEO of Bain Capital and say, `I really don't know what my guys were doing.''

Former Bain Executive: Romney Bears Blame For Ampad Layoffs
 
Taylor said:
Yep, 26 consecutive months of poor job growth... which is why Obama is talking about Romney's record and not his own.
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Wrong! Obama is talking about Mitt Romney because Mitt Romney is using his business experience saying he is qualified for job creation. But Bain Capital isn't about job creation, it's about wealth creation.
 
Taylor said:
Yep, 26 consecutive months of poor job growth... which is why Obama is talking about Romney's record and not his own.
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Considering the starting point of losing hundreds of thousands jobs per month it ain't to bad to stem that flow.
 
pbrauer said:
Wrong! Obama is talking about Mitt Romney because Mitt Romney is using his business experience saying he is qualified for job creation. But Bain Capital isn't about job creation, it's about wealth creation.
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Yes and wouldn't that be nice to see all Americans enlarge their bank accounts, under Romney. Further to his business experience, starting Bain and taking over the Olympics making it profitable for Utah, is a wealth of business experience. Compare that to Obama who never ran a lemon aid stand.
 
Born Free said:
Yes and wouldn't that be nice to see all Americans enlarge their bank accounts, under Romney. Further to his business experience, starting Bain and taking over the Olympics making it profitable for Utah, is a wealth of business experience. Compare that to Obama who never ran a lemon aid stand.
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Why doesn't Romney talk about his experience as Governor of Massachusetts which ranked 47[SUP]th[/SUP] out of 50? :coffeepap:
 
pbrauer said:
Why doesn't Romney talk about his experience as Governor of Massachusetts which ranked 47[SUP]th[/SUP] out of 50? :coffeepap:
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You mean like this:

When Mitt was elected Governor of Massachusetts in 2002, the state was in severe disarray, its budget was out of balance, spending was soaring, and taxpayers were being required to pay more and more in taxes for diminishing services. The state economy was in a tailspin, with businesses cutting back on investment or even closing and unemployment ticking up. Mitt made hard decisions that brought state spending under control. He restructured and consolidated government programs, paring back where necessary and finding efficiencies throughout.

Facing a state legislature dominated by Democrats, Mitt cast more than 800 vetoes as he brought conservative principles to state government. He cut red tape for small businesses, signed into law job-creating incentives, and fought hard to bring new businesses to the state. He eliminated a $3 billion deficit without borrowing or raising taxes. By 2007, at the end of Mitt’s term, the state had accumulated a $2 billion rainy day fund in its coffers. This stringent fiscal discipline provided an essential backdrop for economic recovery. When Mitt came into office, the state was losing jobs every month. When he left office, the economy was generating new jobs by the thousands.

About Mitt | Mitt Romney for President
 
Travis007 said:
Its laughable.. Obama has wiped out the jobs.. and never has so many abonded looking for a job...

I beer can could do a better job.. but Obama is actively looking to destroy the economy...

I will bet Romney has created more jobs personally then Obama has
Click to expand...

you have to understand something. the radical left including the unionistas think investment is a bad thing.
 
pbrauer said:
Why doesn't Romney talk about his experience as Governor of Massachusetts which ranked 47[SUP]th[/SUP] out of 50? :coffeepap:
Click to expand...

why should he-obama isn't talking about what a pathetic president he is-he's still whining about Bush
 
randel said:
Romney Economics: Job Loss and Bankruptcy at Ampad - YouTube


for conservative, as he so loves youtube videos.....hard to believe some would elect a job destroyer like romney to the whitehouse
Click to expand...

Isn't this whole debate about individual companies that Bain purchased just another exercise in the P.T. Barum approach to politicals: never go wrong underestimating the intelligence of the American public.

The administration talks about job growth for many months in a row. Wouldn't you say it would be pretty stupid if the Republicans ran ads about people who got laid off last month and say we are really losing jobs.

If this is trash dominates the political discourse for the rest of the campaign, then neither party will have a mandate after the election and another four years of gridlock, which we can't afford will be our fate.
 
Gimmesometruth said:
In 1994 Romney sidestepped questions related to the plant’s layoffs by saying he was on a leave of absence from the company at the time during his run for Senate.

But according to a 2002 interview with former managing director of Bain Capital Marc Wolpow, Romney was directly responsible for Ampad’s layoffs. Wopow and a fellow Bain partner sat on the board of directors of Ampad, and were responsible with carrying out the Bain business plan that caused the layoffs.
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Not sure but are these the ‘layoffs’ referred to in your article?

The Marion strike began after Ampad bought the plant in July and within hours released some 250 plant workers. It later hired back all but 58.

Sounds specious to me. Seems Ampad’s president doesn’t agree with Wolpow’s assessment either:

Ampad's president, Charles Hanson, said Romney is not involved in the operation of his company. He said three of Romney's Bain partners sit on the Ampad board of directors

Romney firm tied to labor fight; Jobs, benefits slashed at Ind. paper plant | Massachusetts AFL-CIO


Now as to why would believe Hanson over Wolpow:

Marc Wolpow - $52,100 in Political Contributions for 2006

Would seem that there may be a partisan effect in his comments...but of course I could be wrong...;)

Or maybe even 'Take Marc Wolpow, a partner at Audax Group in Boston who left Bain Capital many years ago over personality and business differences with Romney'

http://www.bostonglobe.com/business...cial-sector/C3hOe8lFIFUiU1uMWtlS1I/story.html

just sayin'...
 
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Born Free said:
Yes and wouldn't that be nice to see all Americans enlarge their bank accounts, under Romney. Further to his business experience, starting Bain and taking over the Olympics making it profitable for Utah, is a wealth of business experience. Compare that to Obama who never ran a lemon aid stand.
Click to expand...

Too bad the laws of logic and math means there is no way all us Americans would ever have enough Americans to fire and their pensions to loot to make enlarge all American's bank accounts.
 
TurtleDude said:
you have to understand something. the radical left including the unionistas think investment is a bad thing.
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Unionistas? Really? I guess I'll have to play this game too.

you have to understand something. the radical right including the communist corporatists think labor and production is a bad thing and should only be done overseas.
 
poweRob said:
Too bad the laws of logic and math means there is no way all us Americans would ever have enough Americans to fire and their pensions to loot to make enlarge all American's bank accounts.
Click to expand...

Hmm, union decides to use a strike as a negotiating tactic when the paper industry is in the ****ter and then is surprised when the company lays them off and goes for scabs? When you are in a weak position and the industry you occupy is failing dont try to muscle management.

They didnt push out the union because they wanted to, they did it because the union made it an easy choice.
 
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