Romney foes doesn't know how equity firms work

2012-10-28T00:00:00Z Romney foes doesn't know how equity firms work nwitimes.com
October 28, 2012 12:00 am

On Dec. 29, 2000, LTV Steel ceased to exist. While U.S. Rep. Pete Visclosky sat idly by, thousands of steelworkers were out of work.

A short time later, a private equity group headed by Wilbur Ross purchased the steel mill. It put many, not all, back to work at the East Chicago plant in a much leaner operation.

The politicians vilifying Mitt Romney and his work at Bain Capital have no idea how these equity firms work or the jobs they actually save by their investments and reorganizations.

Our area has seen how beneficial these firms can be, whether it's Wilbur Ross or Mitt Romney.

Don't forget our local history on Nov. 6 and those who did nothing to help.

- Bill Finik, Valparaiso

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