Obama backers assail Romney's business philosophy
Consider it a preview of what Pennsylvania voters will hear many times over the next six months. Pennsylvania Democratic Chairman Jim Burn and other supporters of President Barack Obama on Friday assailed Republican Mitt Romney's business philosophy, saying the presumptive GOP presidential nominee has a record of gutting companies for personal gain.
At a midday press conference in front of John Mitchell's statue on Lackawanna County Courthouse Square, Mr. Burn cited Mr. Romney's private equity firm, Bain Capital, in saying the former Massachusetts governor cared more about making money for himself and his investors than about middle-class workers.
"By crippling companies with debt and driving them into bankruptcy, Mr. Romney walked away with millions, but workers were left without jobs, without pensions and without health care," he said.
County Commissioner Corey O'Brien spoke about GST Steel, a Missouri company acquired by Bain Capital in 1993.
After loading up the company with more than $500 million in debt, Bain shut it down less than a decade later, leaving 750 people without jobs, Mr. O'Brien said. "It's the last thing we need here in Lackawanna County," the commissioner said.
Rick Schraeder, president of the Scranton Building and Trades Council, said the nation has seen enough "reverse Robin Hood," where money is taken from the poor to the benefit of the rich.
Sources:
The Times-Tribune
At a midday press conference in front of John Mitchell's statue on Lackawanna County Courthouse Square, Mr. Burn cited Mr. Romney's private equity firm, Bain Capital, in saying the former Massachusetts governor cared more about making money for himself and his investors than about middle-class workers.
"By crippling companies with debt and driving them into bankruptcy, Mr. Romney walked away with millions, but workers were left without jobs, without pensions and without health care," he said.
County Commissioner Corey O'Brien spoke about GST Steel, a Missouri company acquired by Bain Capital in 1993.
After loading up the company with more than $500 million in debt, Bain shut it down less than a decade later, leaving 750 people without jobs, Mr. O'Brien said. "It's the last thing we need here in Lackawanna County," the commissioner said.
Rick Schraeder, president of the Scranton Building and Trades Council, said the nation has seen enough "reverse Robin Hood," where money is taken from the poor to the benefit of the rich.
Sources:
The Times-Tribune
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