Special report: Romney's steel skeleton in the Bain closet




The story of Bain's failed investment in the Kansas City mill offers a perspective on a largely overlooked chapter in Romney's business record: His firm's brush with a U.S. bailout.

His supporters say the pension gap at the Kansas City mill was an unforeseen consequence of a falling stock market and adverse market conditions. But records show that the mill's Bain-backed management was confronted several times about the fund's shortfall, which, in the end, required an infusion of funds from the federal Pension Benefits Guarantee Corp.

The Kansas City millworkers, meanwhile, are still fuming, after being left with no health benefits and a reduced pension check.

"Romney cost me lots and lots of sleepless nights and lots and lots of money," said Ed Stanger, who worked at the plant for nearly 30 years.

http://www.reuters.com/article/2012/01/06/us-campaign-romney-bailout-idUSTRE8050LL20120106

Fishy


Edited by Somethingsmellsf (10/14/12 11:43 PM)
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NRA Life member

The idea of a middle class life is slowly drifting away as each and every day we realize that our nation is becoming more of a corporatacracy.

I think name-calling is the right way to handle this one/Dan S

We're here from the WDFW and we're here to help--Uhh Ohh!