Thursday, January 12, 2012

Mitt Romney's Claims of Job Creation at Bain Capital (ContributorNetwork)

Republican candidate Mitt Romney led Bain Capital from 1984 to 1999. The company was in the business of investing in other businesses. During his campaign for the Republican nomination, Romney has been making sure voters are aware of the jobs that Bain Capital generated while he was in charge. In fact, Romney has been saying that the company's investments resulted in over 100,000 jobs. What are some of the job creation numbers in regard to Bain Capital?

100,000: New jobs Romney claims were created by companies in which Bain Capital invested.

89,000: Jobs created by Staples, a company Romney helped grow while at Bain Capital.

15,000: Jobs created by The Sports Authority, another company Romney helped to grow while at Bain Capital.

5: Years Sports Authority was owned by Kmart prior to receiving capital from Bain.

7,900: Jobs created by Domino's, another company helped by Romney and Bain Capital.

2,500: Layoffs at KB Toys after Bain Capital got involved.

385: Jobs lost in 2000, the year after Romney left Bain Capital, when American Pad & Paper went under and two plants were closed. The company had been acquired by Bain in 1992.

900: Workers fired or relocated when Bain Capital, along with Goldman Sachs, bought Dade International in 1994. Eventually, 1,000 additional workers would be laid off.

174: Percent the average annualized rate of return on Bain Capital's first five private equity funds in 1999, Romney's last year with the company.

Source: http://us.rd.yahoo.com/dailynews/rss/gop/*http%3A//news.yahoo.com/s/ac/20120109/pl_ac/10808737_mitt_romneys_claims_of_job_creation_at_bain_capital

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