by Craig Masters
What in the world is that poor fellow talking about when he claims Mitt Romney shut down a thriving paper factory while making $100million? Why is this ad being released with only two weeks to the election? It could well be that the SuperPAC, PrioritiesUSA, hoped the facts that would destroy the credibility of the ad and Obama would not be widely known until it was too late. Remember the famous words of Nancy Pelosi when she told Congress they would have to pass the healthcare bill before they learned what was in it!
For the record, which the leftists who pay for the ad won’t tell you, the plant was an old Smith Corona plant in Marion, Indiana. My confidential source told me that in the late 1980′s that plant was cutting costs to avoid problems paying their bills. It was losing money for Smith Corona. In fact in 1993 it lost $1.6million which prompted Smith Corona to sell off the plant’s assets to American Pad and Paper in 1994.
American Pad and Paper was a small business in 1992 when Bain Capital invested in a majority interest in the company. Two years later when Ampad purchased the assets of the Marion plant from Smith Corona, Mitt Romney was on leave from Bain Capital – he was running for Senate against Ted Kennedy. Contrary to what Mr. Earnest would want you to believe, Mitt Romney never stepped foot on his stage/coffin! Moreover, Romney was not active at Bain at the time the ad tries to make us believe it was Bain that closed the plant. That’s a lie also! Bain did not close the plant, American Pad and Paper did.
Now here is where the ad writers have Mr. Earnest really leave the story untold. The Marion plant was closed after Ampad bought its assets from Smith Corona but Ampad more than replaced all of those workers. In fact, Ampad added nearly 2,500 jobs at other plants between the time of Bain Capital’s initial investment in ’92 and the sale of its majority interest.
During this same period of extraordinary growth and the creation of thousands of jobs, revenues grew dramatically from $8.8 million to more than $580 million.
This is another super success story for an American business which grew profitable and added thousands of good paying jobs because Mitt Romney and Bain Capital believed in a company and its people enough to risk their money as investors.
This ad is just another example of super misinformation by the Super PAC ,PrioritiesUSA, operated by Paul Begala and Bill Burton. This PAC has been proven to be in violation of the laws prohibiting collusion between such a PAC and the candidate in the earlier “dead wife’ story that was eventually exposed for the distortions it was. These two leftist and their brand of deceitful ads are just one more reason to fire Obama!