Obama attack on Romney, Bain Capital false, misleading
Tom Subler 

Editor: 

False and misleading accusations are being made by the Obama campaign about Bain Capital and Mr. Romney. I know FROM EXPERIENCE they’re false.From June 1987 until March 2006, I was in New England every two weeks calling on every major manufacturer. From the mid 1970s our company, Carl Subler Trucking transported truckload shipments of paper and paper products from all of New England to the US. Teamster Union issues caused us to sell part of CSTI in June 1987 to a major non-union carrier called Heartland Express who now operates over 4,000 power units. As VP of National Accounts for Heartland I personally called on every truckload shipper in New England and many here in the midwest. Ampad (aka American Pad and Paper) and Staples were two of those accts and both are (were) headquartered in Mass.. 

Ampad (owned by Mead until 1992) faced several major obstacles. Old plants, a low profit margin product (notebooks etc), new competition and a recalcitrant union. I witnessed picket lines regularly in Westfield, Mass., impeding shipments which were already in decline. The handwriting was on the wall to anyone who looked. Still, Bain Capital invested in an attempt to salvage the old union dominated company. The union wouldn’t budge, subsequently forcing management to move some production to lower cost Marion, Ind. Ampad declared bankruptcy in 2000. Absent of Bain intervening, bankruptcy would have occurred soon after 1992. 

Bain Capital invested in Staples from day one, when they had ONE store. They ship thousands of truckloads EVERY week nationwide. They employ 10’s of thousands in the US. Their stock is owned by millions of Americans. 80% of companies Bain Capital invested in were winners. And they did that with private sector money, not taxpayer money. Think Solyndra. Unfortunately, Ampad was one of the 20%. Most sports teams or businesses would be ecstatic with a 600% win rate. 800% is unprecedented. Besides, Bain Capital is NOT the major issue. The present economy or lack thereof is. 

Tom Subler

Versailles, Ohio




 
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