Romney Sold Workers Out

As CEO of Bain Capital, a private equity firm, Presidential Candidate Mitt Romney spent years shuttering U.S. factories, outsourcing jobs and kicking American workers to the unemployment line.

At the Wisconsin State AFL-CIO Convention we heard firsthand accounts from Randy Johnson, a Steelworker who was laid off by Romney’s Bain Capital, and Dave Foster, a negotiator for the United Steelworkers, of the devastation Mitt Romney left behind for working people in his quest for millions. 

Highlights from Dave Foster:

When Romney and Bain took over the mill they brought in new management and started loading the mill with debt.  Within months they started using the borrowed money to pay themselves -- they called it “harvesting companies.”  Mitt Romney doesn’t know how the real economy works; he only knows how to make a private profit at a public expense.  GST Steel went bankrupt, Romney pocketed $12 million and 750 workers were out of a job. 

As President, Barack Obama knows it is his job to look out for all of us.  President Obama put his job on the line to save a million auto jobs.  President Obama knows that in order to make America work, American workers need to work. 

Highlights from Randy Johnson:

Mitt Romney bought American Pad and Paper and then SCM, my plant, and on that very day he kicked me and 350 of my coworkers to the curb.  I walked into work and was terminated, offered the chance to reapply.  For 7 months they brought me back at a lower wage with less benefits – “The Bain Package.”  After 7 months, they closed the plant for good.

My experience with Romney economics is just one of many.  The workers in Wisconsin need to understand what Mitt Romney is all about -- a slash and burn approach which kicked thousands of workers to the street.

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