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Under the Mountain Bunker

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    America before Bain Capital: Ampad in Marion, Indiana

    A powerful ad featuring Mike Earnest, a former employee of Ampad in Marion, Indiana, where he describes a cruel trick that was played on the employees shortly before all three shifts at the Marion plant were laid off en masse one day.

    Transcript via DailyKos:

    On Screen: Marion, Indiana

    Mike Earnest: Out of the blue one day, we were told to build a 30 foot stage. Gathered the guys, and we built that 30 foot stage, not knowing what it was for.

    On Screen: Mitt Romney and Bain Capital purchased the paper plant.

    Mike Earnest: Just days later, all three shifts were told to assemble in the warehouse.

    On Screen: The company was profitable, with three shifts working.

    Mike Earnest: A group of people walked out on that stage and told us the plant is now closed and all of you are fired. I looked both ways. I looked at the crowd and ah, we all just lost our jobs. We don’t have an income.

    On Screen: “there’s little question he made a forture from businesses he helped destroy.” — New York Post 2/19/11

    Mike Earnest: Mitt Romney made over a 100 million dollars by shutting down our plant and devestated our lives. Turns out that when we built that stage it was like building my own coffin, and it just made me sick.

    On Screen: If Mitt Romney wins, the middle class loses.

    It takes a special kind of cruelty to get people to build you a stage so you can use it to tell them that their life, as they’ve known it, is over. It’s like saying “Fuck you!” with a extra big flourish, like kicking them in the head, don’t you think?

    It’s almost like a not very funny prank. Oh, right…

    In May, the Obama campaign put out a 5-minute web video on Ampad. Shortly after, ABC News commented on what information Bain Capital left out of its many, subsequent Ampad defenses:

    [I]n 1999, Bain was actually the largest single shareholder of Ampad. In addition, as of 1999, three Bain executives were sat on Ampad’s board of directors. […] one of the big box retailers putting pressure on Ampad was a company Romney often holds up as a Bain success story — the office supply giant, Staples.

    In a 2008 Boston Globe article headlined, “As Bain slashed jobs, Romney stayed to side,” reporter Robert Gavn writes that Ampad “became squeezed between onerous debt that had financed acquisitions and falling prices for its office-supply products. Its biggest customers — including Staples — used their buying power and access toAsian suppliers to demand lower prices from Ampad.” The article also notes that Romney sat on the Staples board of directors during the period of Ampad’s slide into bankruptcy, which occurred in 2000.

    Take a profitable American company, take out numerous loans against it and pocket the money; now make it compete against low-wage Asian companies (that you may have an interest in) to supply other businesses you own — and fire the employees when it can’t compete; finally close down the company in bankruptcy (can’t compete, heavily in debt) and walk away with an overall profit for yourself.

    Romney knows “why jobs come and why they go,” and now, according to Mitt Romney’s and Bain Capital’s formula for success, so do we.

    — 1 year ago with 1 note
    #class war  #news  #politics  #unemployment  #vote!  #war on the middle class  #american jobs  #american pad and paper  #American workers  #ampad  #asian producers  #at the expense of many  #China  #corporate raiders  #India  #indiana  #jobs  #marion  #mike earnest  #Mitt Romney  #offshoring  #outsourcing  #Republicans  #robber barons  #staples  #vulture capitalists  #wealth for a few 
    "If I thought that call was coming, I would disconnect the phone."
    Indiana Gov. Mitch Daniels (R) on potentially being picked as Mitt Romney’s running mate. – Yahoo News

    (Source: underthemountainbunker.com)

    — 1 year ago with 2 notes
    #news  #politics  #lol  #mitt romney  #vice president pick  #mitch daniels  #indiana 

    BIPARTISANSHIP to the modern Republican: after defeating Sen. Dick Lugar in the Indiana primary, Richard Mourdock dismissed Lugar’s parting shot —


    images: sandandglass

    PART OF SEN. RICHARD LUGAR’S searing concession statement – “Too often bipartisanship is equated with centrism or deal cutting. Bipartisanship is not the opposite of principle. One can be very conservative or very liberal and still have a bipartisan mindset. Such a mindset acknowledges that the other party is also patriotic and may have some good ideas. It acknowledges that national unity is important, and that aggressive partisanship deepens cynicism, sharpens political vendettas, and depletes the national reserve of good will that is critical to our survival in hard times. Certainly this was understood by President Reagan, who worked with Democrats frequently and showed flexibility that would be ridiculed today — from assenting to tax increases in the 1983 Social Security fix, to compromising on landmark tax reform legislation in 1986, to advancing arms control agreements in his second term. I don’t remember a time when so many topics have become politically unmentionable in one party or the other. Republicans cannot admit to any nuance in policy on climate change. Republican members are now expected to take pledges against any tax increases. For two consecutive Presidential nomination cycles, GOP candidates competed with one another to express the most strident anti-immigration view, even at the risk of alienating a huge voting bloc… If fealty to these pledges continues to expand, legislators may pledge their way into irrelevance. Voters will be electing a slate of inflexible positions rather than a leader…” – Ezra Klein

    (Source: underthemountainbunker.com)

    — 1 year ago with 1 note
    #news  #politics  #indiana  #dick lugar  #richard mourdock  #bipartisanship  #republicans  #gop 
    "In our nation, in our time, the friends of freedom have an assignment, as great as those of the 1860s, or the 1940s, or the long twilight of the Cold War. As in those days, the American project is menaced by a survival-level threat. I refer, of course, to the debts our nation has amassed for itself over decades of indulgence. It is the new Red Menace, this time consisting of ink."
    — 3 years ago with 4 notes
    #politics  #unbelievable  #cpac  #george bush  #budget  #economy. mitch daniel  #indiana