- Danny Schwartz
Sometimes the calls didn't quite work out, as was the case when Bain Capital and then-aspiring Senate candidate Romney bought American Pad & Paper Co. for $5 million in 1992. Bain charged Ampad advisory fees, used it to buy a few other office-supply makers and ran the company's debt from $11 million in 1993 to nearly $400 million in 1999.
Meanwhile, it acquired an Ampad plant in Marion, Ill., in 1994 and shuttered the 200-worker facility the next year after workers held a strike over layoffs and pay cuts.
Man, I want him to run our government just like that. And The New York Times's Caucus blog points out something interesting about the farm where Romney gave his big coming-out speech:
The choice of the Bittersweet Farm for his announcement is an interesting one for Mr. Romney, who regularly argues for a smaller federal government that spends less. The rolling green hills of the farm were preserved in recent years in part with $1 million in federal money, according to a recent report in Seacoast Online.