Business

What They Don’t Mention: Laid Off Steelworker in Anti-Romney Ad Was Offered A Buyout

Have you seen the Obama reelection campaign’s new anti-Romney commercial?

The ad, which is slated to run in Pennsylvania, Iowa, Ohio, Virginia, and Colorado, focuses on GS Technologies, a steel mill in Kansas City, Mo., that went bankrupt and closed under Bain Capital.

The ad is pretty heavy on the class warfare rhetoric (“Those [Bain Capital] guys were all rich. They all have more money then they’ll ever spend”) and light on reasons for why the alternative to Romney is any better.

Featured prominently in the anti-Romney ad is a former steel worker named Joe Soptic. As it turns out, Soptic is no stranger to “the anti-Bain beat,” as the Washington Examiner’s Charlie Spiering puts it.

“In January, Soptic complained to Democracy Now, a liberal non-profit TV station, that when the steel company he worked for was bought out, they tried to buy him out,” Spiering reports.

While interviewing on Democracy Now, Soptic said: “I guess the first thing I noticed that when the company was bought out by GST, They became very union non-friendly, they started looking for ways to eliminate jobs.”

“In my case in my department, they actually offered to buy our jobs out from underneath us [emphasis added],” he added.

Soptic also told his interviewer that he was angry because his pension was cut. He went on to clarify that although his 401k was untouched, he still lost $400 a month from his pension.

However, that $400 figure is $117 more than what he told Reuters in a January 2012 story. In the Reuters report, he said he was losing $283 per month from his pension.

Within hours, “Team Romney” responded to the GS Technologies ad with something, well, a little less resentful and a little more positive:

Oh, and it should be pointed out that the layoffs at GS Technologies occurred a full two years after Romney quit the day-to-day operations of Bain Capital to head the Salt Lake City Olympics, the Daily Caller reports.

So, yeah, the ad’s timeline is off just a little bit.

Comments (97)

1 2 3
  • Larry E
    Posted on May 14, 2012 at 9:49pm

    Let’s never mind that Romney had quit Bain Capital two years before the steel company closed down too. Don’t have to make money running a business, just provide employment and lose money. That only works under Communism or in the government.

    Report Post »  
    • MIBUGNU2
      Posted on May 14, 2012 at 10:53pm

      And these guy’s have been sitting on their AZZS since ???
      Think the Salt Lake Games were 2002…HMMMMMM ??
      Typical union whiners, they probably are the ones that
      “SUCKED” the Company dry with their BS ..GOOD GRIEF..

      ROMNEY – RICE..2012

      Report Post » MIBUGNU2  
    • ishka4me
      Posted on May 14, 2012 at 11:10pm

      Yes under Obama logic, if Romney ever flew on American Airlines before 9/11 he is responsible. Romeny wasn’t working for Bain for years when this plant closed.

      Report Post »  
    • The-Monk
      Posted on May 14, 2012 at 11:14pm

      Was he a “steel worker” or a “steal worker”….

      Report Post » The-Monk  
    • raderby
      Posted on May 15, 2012 at 7:27am

      yeah, all the moron crap that passes for “reason” and “fairness” these days is based on the communist view that all companies are there to provide a place for people to go and work and pull their livelihood from, birth to death. The companies are tools of the state to provide a good for all.

      Essentially, the undoing of any capitalist thought, and, private ownership, and everything that made the USA the best place to live on the planet is being torn apart by marxists like king Zero. Zero is just the capper to a long line of same-same creeps. (like Hillary: same teacher, same thoughts, bigger butt, with a slower corrosion of society to “their heart’s desire”)

      Report Post » raderby  
    • HKS
      Posted on May 15, 2012 at 7:34am

      Did I hear them say that they had dissolved the steelworkers union there to make that company competitive with the rest of the world and save their jobs? If your looking for a reason for failure, look no further than there. The steelworkers killed just about all the steel producers in the USA.

      Report Post » HKS  
    • oldguy49
      Posted on May 15, 2012 at 8:57am

      not to mention a couple of dozen other steel mills shut down that year because of dumping of steel products on the market by china and others………oops they forgot that…….

      Report Post »  
    • JRook
      Posted on May 15, 2012 at 10:12am

      Actually the timeline should be adjusted by the fact Romney pulled in $20 plus million from his Bain Capital investments. So yea he is still making money from these economy building deals. How about we focus on how perhaps such smart businessmen could actually make the company work rather than just buy it for 10 cents on the dollar, use bankruptcy court to stick it to the creditors and workers and then make a profit when then sell off the assets later on. Manipulation and hiding through the bankruptcy process is not exactly honorable capitalism.

      Report Post »  
    • turkey13
      Posted on May 15, 2012 at 11:01am

      “The main vice of capitalism is the uneven distribution of prosperity. The main vice of socialism is the even distribution of misery.” Winston Churchill

      Has anyone noticed that Warren Buffet stopped the Canidian pipeline is to make sure any oil coming down to the US was on his railroad cars. Look how one mans greed kept at least 100,000 people unemployed. This from a man who kisses up to Obama to keep the IRS at bay because he owes 1.2 billion bucks in back taxes. Regular union pipe fitters laid off should wake up and vote out the Union heads.

      Report Post »  
  • azsmitty
    Posted on May 14, 2012 at 9:08pm

    There are lies, there are damnable lies and then there is getting caught with ones hands in the cookie jar…………this useful idiot will regret the spot light he volunteered for.

    Report Post »  
    • 000degrees
      Posted on May 14, 2012 at 9:26pm

      It’s just beginning….

      Report Post »  
    • Free_Thinker
      Posted on May 14, 2012 at 9:36pm

      Definitely a union guy. How about if Bain had just let them go bankrupt instead of trying to save them…. they couldn’t save them all.

      Report Post » Free_Thinker  
    • MIBUGNU2
      Posted on May 14, 2012 at 10:06pm

      I have been laid-off several times over the course of my life,
      Never blamed the employer, they either have the work or not..
      You go out and find a new job…and Thank God I’ve never had
      to draw unemployment…sometimes you do work you really don’t
      like, but it pays the bills and puts food on the table…..NO ONE
      owe’s you shi**……ROMNEY – RICE…… 2012

      Report Post » MIBUGNU2  
  • GrumpyCat
    Posted on May 14, 2012 at 8:48pm

    They say Bain bankrupted GST with debt. Isn’t that The Obama Way?

    Report Post »  
    • BODYBAG
      Posted on May 14, 2012 at 11:39pm

      Yes. Its also called Soiciopathic Personality Disorder. Projecting blame onto others
      for what you yourself do. We gotcha now BARRY. Your S**t is coming unglued at
      Looooong last.

      Report Post » BODYBAG  
  • altannt
    Posted on May 14, 2012 at 8:29pm

    First Bain was called into the company in trouble they just don’t move in. Second Romney was gone from Bain then. The kicker is the dude running Bain then is now a big money Obuma guy. Report that!

    Report Post »  
    • soybomb315
      Posted on May 14, 2012 at 8:39pm

      Bain’s business model was not to buy junk companies. They bought somewhat healthy companies that Bain felt could be “made” profitable on a short-term basis.

      Hold on, working on a link or two…

      Report Post » soybomb315  
    • Machtyn
      Posted on May 15, 2012 at 10:08am

      soybomb: Incorrect. Bain bought companies that looked profitable, but were very much in trouble and/or in close to bankruptcy. They modis operendi was to fix the inefficiencies wherever they occurred. Whether it was in the distribution chain, the reception of materials, lazy employees, good employees in the wrong positions, whatever it was – they made the change. They attempted to fix the companies they bought.

      They were very successful at it. While Romney was there, they had 5 failures out of at least 77. Of those 77, 12 companies failed *after* Romney left. But by that time a lot of companies were failing with the Tech bubble bursting and 9/11 spooking everyone. So, 17 companies out of at least 77 that we know of (more likely well over 100). That’s a really, really good percentage of success.

      Report Post »  
    • Machtyn
      Posted on May 15, 2012 at 10:11am

      @soybomb: Incorrect. Bain bought companies that looked profitable, but were very much in trouble and/or in close to bankruptcy. They modis operendi was to fix the inefficiencies wherever they occurred. Whether it was in the distribution chain, the reception of materials, lazy employees, good employees in the wrong positions, whatever it was – they made the change. They attempted to fix the companies they bought.

      They were very successful at it. While Romney was there, they had 5 failures out of at least 77. Of those 77, 12 companies failed *after* Romney left. But by that time a lot of companies were failing with the Tech bubble bursting and 9/11 spooking everyone. So, 17 companies out of at least 77 that we know of (more likely well over 100). That’s a really, really good percentage of success.

      Here’s a link for you: http://americaneedsmitt.com/2012/05/aaaaarh-did-pirate-mitt-sink-companies-for-their-treasure/

      Report Post »  
  • Amazingoly
    Posted on May 14, 2012 at 8:26pm

    Wonder what the weasels were paid for showing their faces? Now the Obama administration is going to push more racial attacks. They have pressed the panic button and will lose big time in a few months.

    Report Post »  
  • ComradeAdam
    Posted on May 14, 2012 at 8:24pm

    What person in their right mind would close a plant that was profitable? No one. So, I know the plant wasn’t profitable, the reason they lost their jobs was much bigger than Romney or Bain Capital. Bain Capital owned the company, they had every right to close the plant for any reason. These steel workers are not entitled to a job, quit complaining and go out and find a new one!

    Report Post » ComradeAdam  
  • drphil69
    Posted on May 14, 2012 at 8:15pm

    “Oh, and it should be pointed out that the layoffs at GS Technologies occurred a full two years after Romney quit …”

    Timeline? We don‘t care about no stinkin’ timeline! After all Barack’s parents were inspired by the march in Selma, AL, to have a baby named Barack… even though Barack was born 4 years prior to the march… And remember Hillary Clinton claimed she was named after Sir Edmund Hillary, the first confirmed climber of Mt. Everest, and yet she was born before he climbed the mountain… when he was not a sir and nobody knew his name… Finally, remember that Michelle Obama said, “…, we have to change our history…”

    Report Post »  
    • BreeZee
      Posted on May 14, 2012 at 8:21pm

      “pretty heavy on the class warfare rhetoric” no way! not from barry the liar in chief. And did you really expect the MSM to report the truth? HA HA

      Report Post »  
    • Boson Higgs
      Posted on May 14, 2012 at 9:17pm

      AND, Bill Clinton “had vivid memories of black churches being burned (in Arkansas) when I was growing up.”

      But, none were !

      Report Post » Boson Higgs  
  • cassandra
    Posted on May 14, 2012 at 8:08pm

    maybe the steel union workers should tell us why they put out business the steel manufacturing in Penn. why is it cheaper to import steel then make it in America because of democratic regulations and unions

    Report Post »  
  • jadedinkc
    Posted on May 14, 2012 at 7:58pm

    I bet Joe Soptic lives in Kansas City Kansas, on Strawberry Hill in his great grandfathers house and is a life long cradle to grave democrat. No doubt in my mind.

    Report Post »  
  • TeaPartyForRomney
    Posted on May 14, 2012 at 7:56pm

    Now before Ron Paul stepped to the side in the election, there were a few attacks this weekend from Ron Paul supporters again the GOP and Tea Partiers. They attacked Josh Romney at one event and Herman Cain at another event.

    I guess the Romney supporters got fed up and finally fought back. There was a scuffle between the two groups in Oklahoma and it sounds like the Romney supporters showed the Paul supporters the door and the Pauls went to the media, watch this news cast on the event: http://tiny.cc/2robew

    Report Post »  
  • Clmsadjman
    Posted on May 14, 2012 at 7:51pm

    Facts to liberals are like Kryptonite to Superman. Besides Romney was down with Bain 2 years before this happened and it Obama’s fund raising bundler that is responsible for this closure. If this the best they can come up with they are deep do do! Bain is a old story no one cares excpet the drones that are voting for Obama anyway so it matters not! I think David Axelhole is off his game on these ads maybe he really isn’t as good as Rove and never was.

    Report Post »  
  • coalfired
    Posted on May 14, 2012 at 7:49pm

    Add your comments

    Report Post »  
  • coalfired
    Posted on May 14, 2012 at 7:49pm

    Obanna re-election campaign is not only a looser, its pathetic. They better check their facts before trying to destroy someones character. But facts to them are only a minor inconvenience, full speed ahead! Lie like the election depends on it!

    Report Post »  
    • snyggys
      Posted on May 14, 2012 at 8:00pm

      I agree with you, and it’s “loser” not looser. Everybody seems to spell that wrong nowadays.

      Report Post » snyggys  
  • snyggys
    Posted on May 14, 2012 at 7:40pm

    Those guys should be thanking Romney for protecting their jobs for nine more years. Maybe he should have just let them go bankrupt and let those guys lose their jobs like they would have if Bain didn’t step in and keep them in business 9 more years. Morons.

    Report Post » snyggys  
  • soybomb315
    Posted on May 14, 2012 at 7:37pm

    “The ad is pretty heavy on the class warfare rhetoric and light on reasons for why the alternative to Romney is any better.”

    Funny, isnt this the ‘anybody but obama’ crowd? You expect the democrats to provide a romney alternative explanation while at the same time, republicans are running an ABO campaign? Nice one Becket Adams

    Report Post » soybomb315  
  • Cabo King
    Posted on May 14, 2012 at 7:26pm

    Obama running scared, he has NOTHING to run on, his only hope is the stupid poor people, that are all freeloaders anyway…..Progressive Commie, bastard

    Report Post » Cabo King  
  • Cabo King
    Posted on May 14, 2012 at 7:24pm

    Buck Ofama

    Report Post » Cabo King  
    • sbenard
      Posted on May 14, 2012 at 8:11pm

      LOL! I laughed so hard I had to run to the restroom! Thanks!

      Report Post » sbenard  
  • progressiveslayer
    Posted on May 14, 2012 at 7:21pm

    “I guess the first thing I noticed that when the company was bought out by GST, They became very union non-friendly, they started looking for ways to eliminate jobs.”

    I sure hope so,union busting should be all the rage when Barry gets fired in November,do away with all unions and this economy will takeoff.Unions are the only organization I know of outside of government that can conduct illegal operations and not be prosecuted,they’re protected.

    Report Post » progressiveslayer  
    • KansasPatriot
      Posted on May 14, 2012 at 7:51pm

      …of course they don’t mention the Steel Plant was a 70 year old relic that was dangerous to operate and too expensive to be profitable. At least some people were offered buyouts. That’s better than nothing. That’s called progress. The old steel plant needed to be replaced but at the time steel production was being out sourced overseas and the price was very low making rebuilding too expensive. Bain worked for its investors to make a profit not as a welfare department. Romney had left Bain for the Olympics before any of this happened anyway. Grow up. I lost several jobs to companies being sold and never cried in my beer about….

      Report Post » KansasPatriot  
    • RJJinGadsden
      Posted on May 14, 2012 at 8:24pm

      KANSASPATRIOT, We had a steel mill here that finally went belly up in ‘99. It was the unions that literally destroyed that business, and I would venture to say that it was unions that did more damage to this one long before Bain Capitol tried to resuscitate it, and continued during Bain Capitol’s to help. There comes a point when a business’s employees continue down the path of fiscal suicide that an outside owner agency has to pull the plug and try to recover some of the capitol that they had already pumped into it. But, it is so easy to get in front of camera and blame others when a good part of the fault falls squarely on their shoulders.
      I could sit back and type out a laundry list of the businesses that were around here during my life time that unions have buried. A company my wife worked for about twelve years ago was a small upstart company at the time. A couple of the unions moved in after it had been here for a couple of years pushing and threatening. She had her CCL already and started keeping her Glock in the Blazer at all times. The threats got so bad that I wrapped the drivers seat with a PASGT flak vest that I had. The union just barely did get voted down, but they could start all over again in just one year. The company shut down and moved their operations to Mississippi. This city is one of the very rare union towns in our state and they knew things would only get worse. Oh yeah, my wife told me how many times the union reps bragged destroying companies.

      Report Post » RJJinGadsden  
    • DissenterKnight
      Posted on August 8, 2012 at 1:33pm

      In my first career I racked up several hundred hours of union avoidance / union abatement training. I grew up the child of a union coal miner, my dad was president of his local several times and actively involved. So, I feel comfortable stating that I know both sides of the union debate.
      There is a time and a place for a union; not every business is run by up standing individuals any more than every union worker is a lazy slug. Any business that finds itself unionized has gotten what it deserved. People who are treated well, shown respect, compensated properly and shown that they are valued don’t need a union.
      A union is a parasitic organism feeding on its host; which, by the way, is not the company but rather the workers; the company isn’t the revenue stream for the union, they do. Like any parasite, a union needs a vector by which to enter the host body; dissatisfaction, ill treatment and poor or improper compensation create a mindset that becomes that vector.
      Where my issue with unions is found is in the public sector unions. A union exists to protect the worker from an environment in which management would abuse the worker or that worker’s rights. In the case of a public union, We the People are management. Have we abused our public employees? Would we? Are public unions protecting civil servants, or are they a pipeline for tax dollars into the pockets of politicians?

      Report Post » DissenterKnight  
  • Individualism
    Posted on May 14, 2012 at 7:20pm

    Vulture Capitalism

    Report Post » Individualism  
    • snyggys
      Posted on May 14, 2012 at 7:44pm

      Ya, you’re right… Bain should have not stepped in and just let them go bankrupt like they would have instead of protecting those guys jobs for nine more years. (sarcasm!)

      Report Post » snyggys  
    • Individualism
      Posted on May 14, 2012 at 8:12pm

      yeah lets have someone steal our tax money and bailout more corporate and banker thugs who treat their customers like crap and should collapse for it.

      Report Post » Individualism  
    • snyggys
      Posted on May 14, 2012 at 8:34pm

      You need to learn the difference between private money and public (tax) money. I would think you’d know that private investing is different than Government bailouts with OUR money. Big difference. You should no that, especially with that name… Individualism.

      Report Post » snyggys  
    • jetmech807
      Posted on May 15, 2012 at 2:28am

      Hey, SNY It’s “know” not “no”. Just keeping you honest……
      Individualism strikes me as being just as, if not more so than, ignonorant as the Kool Aid drinkers. So what do the tin foil hatted Paul bots drink, Ensure?

      Report Post »  
    • Individualism
      Posted on May 15, 2012 at 11:39am

      he will do the same with tax payer money as president which is why he shouldn’t be.

      Report Post » Individualism  
    • Inlightofthings
      Posted on May 15, 2012 at 8:10pm

      INDIVIDUALISM:
      You have been schooled, challenged and called out on some of your RP (stuff). Your guy is out and only wanting delegates to push his agenda at the convention – deny that one and you are foolish. Isn;t there another site you can occupy for a while?

      Report Post »  
  • Baddoggy
    Posted on May 14, 2012 at 7:16pm

    They dont tell you that Romney was NOT part of Bayne when this happened. He quit n 1999…Morons and liars…

    Report Post » Baddoggy  
  • Jenny Lind
    Posted on May 14, 2012 at 7:11pm

    There are winners and loosers in business, by the time some are bought the unions and inept management have done to much damage, and the only sensible thing is to close it and sell assets. That may sound harsh, but it is the only way, if new good management can’t turn it around, the business is already dead. It is sad, but true, can’t keep pouring money into a hole.

    Report Post »  
    • snyggys
      Posted on May 14, 2012 at 7:36pm

      Why the heck does everybody spell “loser” wrong. looser means something is not tight. It’s LOSER! Just had to get that off my chest. I don‘t know how many times i’ve seen people spell it wrong… of all the things to spell wrong… Nothing personal. :-) By the way, I agree with your statement.

      Report Post » snyggys  
    • soybomb315
      Posted on May 14, 2012 at 8:32pm

      looks like Snyggys has a promising career as a government employee

      Report Post » soybomb315  
    • snyggys
      Posted on May 14, 2012 at 8:59pm

      OUCH! Nice cheap shot. I just got sick of seeing that word spelled wrong… chill. Government employee is the last thing I’d ever want to be… I’m an entrepreneur Baby!

      Report Post » snyggys  
    • soybomb315
      Posted on May 14, 2012 at 9:29pm

      very well then. at least your (sorry, you’re) not an english teacher. lol

      Report Post » soybomb315  
  • FromSeaToSea
    Posted on May 14, 2012 at 6:55pm

    ON THE CONSOLE “Warning, Warning Crash Ahead” If we fail to straight vote the Constitution, we will crash like all societies in history.
    You voter are steering in Nov. Don’t let the banking cartel owned media chose for you with their manipulation of Your opinion.
    Vote the US to exit UN, membership, abolish the Federal Reserve, and oust all Obummer – ites. This should resolve about 65% of our nations problems. The rest can be resolve with moral Constitutional candidates.

    “As a Christian I have no duty to allow myself to be cheated, but I have the duty to be a fighter for truth and justice.”
    Adolf Hitler

    Report Post »  
    • jeffagainsttheleft
      Posted on May 14, 2012 at 8:18pm

      Not only should we exit the UN, we should sendthem off shore also. Let them pollute some other country for 50+ years.

      Report Post »  
  • FreedomPurveyor
    Posted on May 14, 2012 at 6:49pm

    Awesome comeback ad.

    Report Post » FreedomPurveyor  
    • MIBUGNU2
      Posted on May 14, 2012 at 11:13pm

      Think O‘Blamers crew will be outclassed by Romney’s
      people when it’s all said and done….The right has a lot
      of material to work from this time around, Unlike McCain
      I don’t think Romney will hesitate to use it to bring this
      **************** down !! you can already see sweat on
      Liberal Democrat’s brows…FUNNY !!!!!!

      Report Post » MIBUGNU2  
  • soybomb315
    Posted on May 14, 2012 at 6:45pm

    This is tip of the iceberg with Bain Capital. The way private equity funds operate is completely distasteful to the average american, especially people who live in the rust belt. Many of you have no idea how it works but it is nasty. It revolves around government subsidies, tax breaks, debt financed re-structuring, balance sheet wizardry, and running companies into the ground before the stock sell.

    Just warning you guys – this is going to get much much worse

    Report Post » soybomb315  
    • Psychosis
      Posted on May 14, 2012 at 7:11pm

      your full of it

      and have no idea what your rambling about

      Report Post » Psychosis  
    • soybomb315
      Posted on May 14, 2012 at 7:21pm

      look it up. I’m not as extreme as gingrich and his “romney came to town” thing but there were SOME truths to it.

      If you dont believe what i said, look it up

      Report Post » soybomb315  
    • Rijjka
      Posted on May 14, 2012 at 8:14pm

      Except the only reason why all that stuff works to amass wealth is because of the absurd complexity of tax codes the world over. The more complicated it is, the more there is a industry for people to understand it. For the most part, all financial companies offer is their knowlegde and expertise on behalf of the investors.

      If the tax code, which is a goverment created relic, were to be scrapped and remade into something far more simple and universal, I imagine that the industry for finances would become quite a bit less complex and easier to follow and keep tabs on.

      Don’t blame the free market for doing what it does best. It will always find and utilize oppurtunities. If you really want to get angry, blame the people who thought it would be a great idea to make such a vast and incomprehenisbile tax code, one with such a degree of complexity that you need to hire people to get ahead.

      Report Post »  
    • soybomb315
      Posted on May 14, 2012 at 8:29pm

      @Rijka
      Thanks for the perspective – I agree with you completely

      However, the problem is that we have nominated a guy who took full advantage of the big government complex tax code system. Today, Mitt Romney is still against eliminating tax loopholes, subsidies, and preferences (strongly against flat tax). At a time when the republicans supposedly want small government and simpler tax code, we nominate a ‘pro-subsidy, pro-complex tax code” guy.

      Do you see the hypocrisy?

      Report Post » soybomb315  
  • 65Mustang
    Posted on May 14, 2012 at 6:42pm

    Any political ad from the Obama camp will be made up of half truths or a complete lie…that’s all they know.

    Report Post »  
    • pscully17
      Posted on May 14, 2012 at 6:59pm

      Capitalism is based on profit, people aren’t in business for the charity if hiring people. That’s what the government does…and bankrupt companies don’t keep borrowing money to keep operating at losses, that’s what the government.does….if Romney didn’t make money doing what he did, he would have been considered a huge failure…and probably would be washing dishes. So to slam Romney in a class warfare attack is just really stupid, and I hope Obama keeps up his ignorance..also, all Romney has to do is point a finger at California, then the debt clock, then the unemployment numbers, and the foodstamp enrollment.that’s all he has to do…

      Report Post »  
    • Tigress1
      Posted on May 14, 2012 at 7:56pm

      @65Mustang, you are absolutely right. That’s what the Democrat Party has become – a bunch of sleazy, lying thugs. I bet any good, decent, old-time Democrats are absolutely ashamed.

      Report Post » Tigress1  
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