*Bain in 1988 put $5 million down to buy Stage Stores, and in the mid-'90s took it public, collecting $100 million from stock offerings. Stage filed for bankruptcy in 2000.Four companies, $116 million invested, $358 million returned (average annual return roughly 132%), four subsequent bankruptcies. Yeah, that's a job creator! This needs to be in every ad about the economy/jobs created by all of Romney's opponents. He'll eventually get nominated, but with this stuff floating out there for the next six months, he'll have a lot of 'splainin' to do!
* Bain in 1992 bought American Pad & Paper (AMPAD), investing $5 million, and collected $100 million from dividends. The business filed for bankruptcy in 2000.
* Bain in 1993 invested $60 million when buying GS Industries, and received $65 million from dividends. GS filed for bankruptcy in 2001.
* Bain in 1997 invested $46 million when buying Details, and made $93 million from stock offerings. The company filed for bankruptcy in 2003.
Thursday, January 12, 2012
The friggin' New York Post reports on some pretty damning stuff regarding the companies purchased by Romney's Bain Capital: