I was fired by Mitt Romney and Bain Capital

[kpete]

SAT JUL 14, 2012 AT 02:26 PM PDT
I was fired by Mitt Romney and Bain Capital
byChobuckFollow

.................


It was shortly after that shutdown however that Eli Lilly announced that they were divesting themselves of the medical device companies that they owned. Physio Control was put on the market and was subsequently purchased by Mitt Romney and Bain Investments.

.................

They proceeded to strip the company and make it appear more profitable for the next buyer.

The put all molding jobs out for bid to private companies and when they got an acceptable bid they sold off all the molding equipment and outsourced all the molding.

..........

Bottom line is that Mitt Romney walked off with a huge pile of money to take back to his family. A lot of other people had their dreams shattered and their lives disrupted. Altogether somewhere around 120 people lost their jobs at Physio Control either through direct layoff or forced retirement. I don’t remember the number of total employees there in Redmond but I think it was around 360. In other words about one third of the workforce was gone.


MUCH MORE:
http://www.dailykos.com/story/2012/07/14/1109984/-I-was-fired-by-Mitt-Romney-and-Bain-Capital

[lunatica]

1. Quite a story

I'm glad to read it. The more one knows the worse Mitt looks.

[BeyondGeography]

2. Read the whole thing and I didn't count any jobs created

I have worked in similar environments. The debt-laden owners know/care nothing about the business and are all about dressing things up, as the writer said, for the next transaction. It guts companies not only of their capabilities, but of their heart and culture. A lot of Americans are caught up in these scenarios. It's not healthy.

[arcane1]

11. Some Bain executive likely hired a manicurist for his backup pool boy

Does that count?

[Canuckistanian]

3. Add this to the list

Dynamite stuff.

[JDPriestly]

4. That is heartwrenching. It describes the decline of America.

Romney is not the solution. Romney is the problem. -- or at least represents the problem. Greed destroying what is good and working well.

[Pirate Smile]

5. Romney was a pioneer in getting rich off the decline of America. He even hides his $$$ offshore.

[AnnieK401]

6. Didn't you hear,

If this was after Feb. 1999 Romney was only the CEO, President, only stockholder, and Owner, at Bain. How could he have been expected to have known what was going on. We can be sure of this because he said so.

[Amonester]

7. And because he is a Republican. Everybody knows Republicans own the...

"Personal Responsibility" American value at heart.

[Where was George]

8. Thank you for this information

Great article. A must read.

The part that should make everyone's blood boil:

The gauntlet was thrown down and we took it up. We met every goal/demand that they set for us. We lowered scrap to the number they demanded, we lowered cycle times for the machines, we found ways to do the job cheaper, faster, more efficiently. All was to avail, in June of 1986 they announced that the operations for Newport, Washington would be moved to Taiwan.


I was lucky enough to get out of Massachusetts before Rmoney became governor.

[progressivebydesign]

9. That is just sickening..... and so typical of the new wealth in America.

Exploit the workers, then find workers in another country that you can exploit cheaper.

Welcome to DU, by the way!!

[Where was George]

12. Thank you

RMoney, like the last W/House administration is allied with the darkest forces on the planet. My field of study includes the Bush Family among others. This guy RMoney is exactly like Bush/Cheney.

In time and as I get to know people here and vice versa will bring to the table the various ways Bush II and RMoney (Bush III) have weakened not only the constitution but the political process here in the USA and abroad. While I'm sure that this is not news to most everyone here I can assure that even the Democratic Party has been compromised by the evil those pulling the strings of Bush and RMoney. As those bastards rule through fear and intimidation. See: Paul Wellstone and Gabriel Giffords for instance.

Bush was a puppet for these forces. RMoney is the next stooge in line.

Again, nice to meetcha!

[Flatulo]

10. Such a sad but familiar story.

I can't count the times I saw the well dressed suits walking around taking notes. There were the cheery pronouncements of how wonderful the future was going to be. Then the hammer fell.

It's still happening today, but the suits are worn by Chinese businessmen.

This country has been utterly destroyed by mergers and acquisitions and the leveraged buyout. Tens of millions of lives have been destroyed. And it continues apace.

[Skittles]

13. CORRECT

on the 1% benefits

[AnotherMcIntosh]

14. Rmoney has already indicated he would gladly sign another job-transferring "free-trade" agreement.

It might help what is left of American manufacturing and American manufacturing jobs by not signing any more.

[kimbutgar]

15. This story should be used as a personalized anti bain/rmoney commercial in the community where this

company was located. Then the people in that community will have a personal connection. Another company and community destroyed by rmoney and bain. Unemployment is high in this country because of the type of business rmoney ran. He is the reason for the high unemployment and now he wants to bainize the country? I don't think so.

[handmade34]

16. letter from Romney to laid off worker

in '95, just point of reference

some using it to show Romney in positive light... I took note of his reference of blame for Union workers supporting Kennedy...

[catchnrelease]

18. Wow

He never has any responsibility for anything does he? Another leave of absence, sorry, I really felt bad and wanted to help but what could I do? What a lame a$$.

[KT2000]

17. this is private equity and holding co.

I hope that while Mitt is shamed for his behavior we look at the bigger picture of the plundering that has gone on the last few decades by these firms. This gold rush has left this country empty at the core and funneled all assets to a few. They create nothing except their own wealth.
Boy - the GOP picked a good one this time around.

[maindawg]

19. They picked a whiner

They spent 30 grooming a dull witted sociopath. What did they expect? We have seen the Rovian tactics for 20 years. The Rove act has worn thin. The robotic talking points thing has seen its day. You cant just shout down the opposition forever. Americans are either wise to this crap, bored with it or disappointed by it or all three.
They didn't just pick Mitt. They built him out of good stock. His dad was a halfway decent guy. But he is a dick.
And they are stuck with him. I mean, who else do they have?

Thats the next fun show, Who gonna be the new guy ? Cause mittens is toast.

[Omaha Steve]

20. K&R!