“(Bain)closed plant a year after harvesting $7.1 million in local tax breaks aimed at job creation"

[kpete]

“(Bain)closed a Puerto Rico plant in 1998, a year after harvesting $7.1 million in local tax breaks aimed at job creation…”

“Take $10 to $40 million squeezed from a pension pot, then use that to create new, rosier financial projections to borrow several times that amount, and then pay yourself a big special dividend from the borrowed funds…”

“Then brutal cost cutting began. Bain cut R&D spending to an average of 8 percent of sales, a little more than half what its competitors were doing. Cindy Hewitt, Dade’s human-resources manager, remembers how the firm closed a Puerto Rico plant in 1998, a year after harvesting $7.1 million in local tax breaks aimed at job creation, and relocated some staff to Miami, then the company’s most profitable plant. Based on re­a­ssur­ances she had received from her superiors, she told those uprooting themselves from Puerto Rico that their jobs in Miami were safe for now—but then Bain closed the Miami plant. “Whether you want to call it misled, or lied, or manipulated, I do not believe they provided full information about what discussions were under way,” she says. “I would never want to be part of even unintentionally treating people so poorly.”

http://www.vanityfair.com/politics/2012/08/investigating-mitt-romney-offshore-accounts

[NightWatcher]

1. my fav Bain/Romney story is Stericycle. Romney profitted from company that disposes of aborted fetus

http://www.motherjones.com/politics/2012/07/romney-bain-abortion-stericycle-sec

let's the family fundies argue this one

[xchrom]

2. Du rec. Nt

[amuse bouche]

3. Myth Romney

is about as evil as they come.

[Dont call me Shirley]

4. So Bane is responsible for the financial downfall of the cities and towns

it moves into and robs from. Criminals, I tells ya, the all of 'em, criminals.

[Curmudgeoness]

5. "Harvesting" tax breaks.

I like that term. It describes precisely what he does.

[The Jungle 1]

6. stop it

We as a country must put a stop to corporate welfare. It is nothing but a scam and we are being held ransom. Corporate welfare is also socialism and I thought republicans hated socialism.

I am gonna close my plant. Pay me millions or I will do it. I got the girl and I got the gun get back. SCAM

Here in Pa Corbutt is giving out billions in corporate welfare and tax brakes to the oil refineries. I am pretty sure the oil companies don't need my money. They make plenty. He does this as he cuts funding for education. My wife is a nurse who works with severely disabled children. Corbutt is cutting their funding 20%. Let's now who is he giving it to.