Tuesday, January 24, 2012

Laid-Off Steelworker: Mitt Romney & Bain Capital Profitted by Shutting Down Kansas Steel Plant @ Democracy Now!

As Republican presidential candidate Mitt Romney comes under fire in New Hampshire for touting his business experience, we look at how his private equity firm, Bain Capital, drove a Kansas City steel plant into bankruptcy, leading to some 750 layoffs and a federal bailout. Bain still walked away with millions of dollars in profits. We speak with Reuters reporter Andy Sullivan, who covered the story, and with Joe Soptic, a steelworker who lost his job at Kansas City’s Worldwide Grinding Systems steel mill after 28 years. "The first thing I noticed after the company was bought out ... they became very union-non-friendly. I mean, they started looking for ways to eliminate jobs," says Soptic. "In my department, they actually offered to buy our jobs out from underneath us. They cut back on safety equipment." Regarding Romney’s business acumen, Soptic adds, "If he would run the country the way that he ran our business, I wouldn’t want him in there as president." [includes rush transcript]
Read more at Democracy Now!

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