|Some of Romney's successes|
ROMNEY AS JOB CREATOR CLASHES WITH BAIN RECORD OF JOB CUTS
BLOOMBERG NEWS BY JUSTIN BLUM AND LISA LERER
This article looked at three companies that Bain acquired and took through a structured bankruptcy. I looked at the first company they cited, Dade Behring.
Blum and Lerer start by pointing out that Bain acquired control of Dade Behring in 2001 and took them into a structured bankruptcy in 2002 costing 1600 jobs. True enough. End of story for Blum and Lerer who go on to two other companies, without a glimmer of recognition that they understand what is going on. But.........WIKIPEDIA DOES !
" In 2002, the company filed a Chapter 11 bankruptcy to facilitate corporate reorganization and debt restructuring. The company then recovered in a spectacular way. By 2005, Dade Behring had 6000 employess and 25,000 customers in 40 + countries. The company was later sold to Siemens for $ 6.3 BILLION."
So, Bloomberg and The Boston Herald , in their zeal to get a hit on Mitt, engage in what I would term a distortion by design. They are smart enough to do their homework. They are interested in the most negative conclusion they can find, regardless of the facts.
In all fairness, I would guess Blum and Lerer are a couple of summer interns just doing what they are told. But, I think this kind of distortion happens all too often.
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