Any guesses as to what Romney will speak on in a town and busienss that has history with Bain Capital?
Left: Joe May, EIT Chairman of the Board & CTO with Betty Demuth
Today, Mitt Romney will bring his campaign to EIT, a circuit-board and electronics manufacturing company, in Sterling, Virginia. But while he is likely to highlight the success of the company, it represents a curious location choice for the Romney campaign.
A decade ago, the Northern Virginia suburb was home to a major circuit-board factory for the DDI Corp. DDI, based in Anaheim, CA, was a major Bain Capital investment during Romney’s tenure with the firm. Romney personally invested in the company and Romney’s name appeared on a 2001 SEC filing as a designated liaison from Bain’s management committee for the company.
While Romney and Bain made tens of millions on its investment in DDI, the company saw large layoffs in Sterling and ended up in Chapter 11 bankruptcy in 2003. A 2003 Washington Business Journal report noted:
Circuit board maker Dynamic Details has laid off 167 people at its Sterling manufacturing plant since the beginning of July —and a total of 460 over the past two years — as it weathers the lingering effects of the tech and telecom industry implosion.
According to the same story, the Sterling plant employed 550 in 2001 and just about 130 in 2003. While the Romney campaign has repeated claims that Bain is responsible for creating thousands of jobs, hundreds lost theirs at DDI, at least in part thanks to Romney and Bain.
Additionally, today’s company — EIT — appears to contradict the Romney campaign’s gloomy assessment of the nation’s economy. Virginia state legislator Joe May (R), who owns the company, told the Washington Post that his private sector firm is indeed doing “just fine.”
Bain acquisition sent Holland jobs out of state
Updated: June 28, 2012, 2:01 AM
WASHINGTON – The workers at the Williamhouse envelope plant in the Town of Holland most likely never heard Mitt Romney’s name. They just knew that an out-of-town owner bought the company and, within a few years, their jobs were shipped to Pennsylvania.
“The company was doing just fine,” said Carolyn Gibbon, of West Seneca, who, with her husband, Thomas, worked at Niagara Envelope for 10 years that she now calls wasted. “Then, the following summer, we were being shut down.”
Some 185 workers lost their jobs in that 1999 closing of a venerable local company previously known as Niagara Envelope. That happened two years after the company’s new owner, American Pad and Paper, or “Ampad,” closed the local firm’s downtown Buffalo headquarters as well as the main office of a sister company in New York, eliminating 250 jobs.
To critics of Romney, the presumptive Republican nominee for president who will be in Buffalo on Friday for a fundraiser, all this matters in the context of the current campaign.
Williamhouse closing ended 136 years in Western New York
Mitt is very delusional to think he can rewrite Bain’s history.
Mitt video defends GST Steel deal (Updated)
By ALEXANDER BURNS |
6/27/12 3:04 PM EDT
The Romney campaign has prepared an approximately two-minute video defending Bain Capital’s involvement in the firm GST Steel, which Democrats have attacked as an example of the private equity firm’s risky business dealings under Mitt Romney.
Team Romney hasn’t formally rolled out the video yet. It features B.C. Huselton, a former vice president at the company, defending Bain’s investment in GST Steel as more helpful than hurtful.
Huselton says he felt compelled to come forward in response to Democratic attacks: “I held my tongue while this was all going on, and I finally said, ‘I can’t take this anymore.’ We did a lot of good work there and somebody needs to know this.”
“Did it all work out? No. Did we make a difference? I think we made a big difference,” he says. “There’s this vampire story that Bain comes in and shows its teeth and sucks the blood out of the operation. It was really entirely the opposite of that. We went looking for a blood donor.”
The “vampire” line is a reference to Obama’s first ad targeting Romney’s business background — a level of rhetoric that the Obama campaign itself hasn’t been using lately. (The super PAC Priorities USA Action is a different story …)
UPDATE II: And it gets better. The fine folks on POLITICO’s video team managed to post the video here, for your viewing pleasure:
NOTE THE ROMNEY CAMPAIGN REMOVED THIS AD FROM YOUTUBE.
LOOKING FOR THE VIDEO OF THIS LIARS SPEECH
5:40 PM EDT, Wednesday June 27, 2012
∞ T witter
Romney: White House ‘Not Sleeping Real Well’ Tonight
At a campaign event in Sterling, Virginia this afternoon, Mitt Romney said the White House will have trouble sleeping given the impending Supreme Court decision on President Obama’s health care reform law tomorrow morning.
“My guess is they’re not sleeping real well at the White House tonight,” Romney said. “That’s the way it oughta be!”
“There are going to be a lot of sleepless nights at the White House over the next few months, because the President is in a tight spot when it comes to the economy,” Romney added.
VIDEO HERE: 1 minute Mitt’s losing sleep over BAIN CAPITAL, AREN’T YOU, MITT?
Sounds like he and Scalia have been hobnobbing doesn’t it?
Romney’s past says everything you need to know about how he’d govern & who he’d represent as president
Not just the past — the past WEEK
It hasn’t been a good week or two for Mitt Romney. His past, which he seems to think nobody will look at, think about, or care about, is beginning to catch up with him.
Between his record as a failed job-creator as a governor and a successful jobs-destroyer as a businessman as well as a rare glimpse at just who he will be beholden to if he is elected, Mitt Romney has a severe and awesome image problem to overcome.
One I doubt he will.
First there was the blistering Washington Post article that revealed that Romney’s Bain Capital owned companies that “specialized in relocating jobs done by American workers to new facilities in low-wage countries like China and India” and “owned companies that were pioneers in the practice of shipping work from the United States to overseas call centers and factories making computer components”.
Romney’s astounding lame and comical response was to argue about the meaning of off-shoring and outsourcing, as if that mattered to people who lost their jobs and, more importantly, as if the article was actually about off-shoring of American jobs.
Then, the New York Times published a piece showing that, no matter how bleak and horrible a Bain-owned company’s fortune was, Romney and his business partners made out like very, very wealthy bandits.
Read the rest here: By Eclectablog on June 27, 2012
Looks like CNN just pulled their online coverage of Romney in sterling Va of the map… What’s up with that, Mittens?
Try this link: http://www.wjla.com/live/
10 minutes to Romney’s speech in VA…
So Romney is trying to wiggle his way out of his SHENANIGANS AT BAIN CAPITAL..
HIT DOGS WILL HOLLER! Keep an eye out folks.
By DYLAN BYERS |
6/27/12 3:33 PM EDT
The Washington Post will not retract their June 21 report about Bain Capital’s investments in firms that specialized in outsourcing American jobs, POLITICO has learned.
“We are very confident in our reporting,” Washington Post spokesperson Kris Coratti told POLITICO following a meeting between the Post’s executive editor Marcus Brauchli and Mitt Romney campaign representatives, who had sought a retraction from the paper.
The Romney campaign would not discuss the meeting. “It was an off the record private meeting so I don’t have anything for you on that,” campaign press secretary Andrea Saul told POLITICO.
UPDATE: Here are the Romney campaign’s complaints against the Washington Post story.
LET’S SEE IF THE WAPO CAN BE BOUGHT/DESTROYED BY MITT ROMNEY,
Romney to seek Washington Post retraction
By DYLAN BYERS |
6/27/12 1:04 PM EDT
Mitt Romney campaign representatives will meet with The Washington Post today to seek a formal retraction of its June 21 report that Bain Capital invested in firms that specialized in outsourcing American jobs, POLITICO has learned.
The representatives will meet with executive editor Marcus Brauchli and other senior Post staff at 2 p.m. today at the Post’s offices in Washington.
The group intends to argue that the Post’s allegations against Bain Capital and the firms in question are either incomplete or inaccurate, sources familiar with the meeting say. Specifically, the group will argue that the Post misinterpreted the SEC filings it examined for its report and failed to adequately account for the support these firms gave to U.S. exports or U.S. businesses through foreign hiring. The campaign raised similar objections to the story prior to its publication.
(UPDATE: The Washington Post will not redact outsourcing story)
You know your lies are being exposed as lies when members of your OWN party continue to contradict your claims. Romney will go to EIT and lie his azzz off, but the owner of EIT, a republican, says exactly what PBO said a few weeks ago, his private sector firm is indeed doing “just fine.”
Every now and then you need to go back to the place of your crimes, “unzip” and let the people experience the Full Romney…
BWA HA HA HA Ya mean like this?