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2016 Postmortem

denem

(11,045 posts) Fri Jan 13, 2012, 04:38 PM Jan 2012

It just gets worse. Bain's 'Job Creator', Steel Dynamics, was funded by Government.

As Mitt Romney defends his record running a private equity firm, he frequently points to a fast-growing Indiana steel company, financed in part by Bain Capital, that now employs 6,000 workers.

http://www.latimes.com/news/nationworld/nation/la-na-bain-subsidies-20120113,0,1268299.story?page=1

Here's the deal (1994)

The State of Indiana and local county pledged $37 million in subsidies and grants.
Bain put in $18.5 million
Bain sold its stake five years later for $104 million, making more than $85 million.

So Bain put in half as much the Governments, and walked away with a 500% payoff.

Just think of Business Experience Mitt could afford to bring to the Oval Office.