Election 2016

January 14, 2012

Romney's Bain made millions as S.C. steelmaker went bankrupt

Bain Capital spent $24.5 million to acquire GS Industries in 1993, according to an investment prospectus for the company. By the end of that decade, Bain Capital estimated its partners had made $58.4 million off its investment. During that time, the steel manufacturer cut more than 1,750 jobs, shuttered a division that had been around for 100 years and eventually sank into bankruptcy.

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