Pension Guarantee Program News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Instead of the indiana paper mill that ted kennedy used in the ads against mr. romney in 1994, eight years later in 2002, shannon o'brien decided to use the gst steel mill experience against mr. romney. gfc still steel mill was a mill in operation since 1888 before bain got ahold of it. the end was the mill shut down. 750 jobs lost. their pension benefits were cut by hundreds of dollars a month. on the pension thing specifically, the federal government had to pitch in tens of millions of dollars to bail out the workers that bain cut off through a pension guarantee program. but hey, bain made m...

Off through a pension guarantee program. but hey, bain made money off it. mitt romney made money off it. shannon o'brien hit mitt romney with that story in 2002. newt gingrich hit mitt romney with that story this year. the whole king of bain thing that newt gingrich deployed against mitt romney. rick perry hit mitt romney with that last year. president obama's campaign hits mr. romney with it, too. >> they issued 125 million dollars of bonds. and out of that $125 million debt, they paid themselves almost $40 million. >> like a vampire. came in and sucked the life out of us. >> every time mitt ...

Case that was mentioned involving the steel mill to take money out of this company, that didn't have a properly funded pension and fawn it off on the pension guarantee program is clearly an important part of this story. there are other parts of it that have not come out yet with other companies, where they made changes to the benefit programs of workers. if you have a business and you want to sell it, one of the first things you do, if you're one of the companies that comes in and buys firms to sell them. strip down the staff, stop reinvesting in the business, cut spending on pensions, health ...

Pensions? >> there's no question, that they were able in the particular case that was mentioned involving the steel mill to take money out of this company, that didn't have a properly funded pension and fawn it off on the pension guarantee program is clearly an important part of this story. there are other parts of it that have not come out yet with other companies, where they made changes to the benefit programs of workers. if you have a business and you want to sell it, one of the first things you do, if you're one of the companies that comes in and buys firms to sell them. strip down the st...

And shannon o'brien, no surprise, decided to run by upstating the same attacks that were so devastating against romney eight years earlier in the ted kennedy senate race. instead of the indiana paper mill that ted kennedy used in the ads against mr. romney in 1994, eight years later in 2002, shannon o'brien decided to use the gst steel mill experience against mr. romney. gfc still steel mill was a mill in operation since 1888 before bain got ahold of it. the end was the mill shut down. 750 jobs lost. their pension benefits were cut by hundreds of dollars a month. on the pension thing specifica...