Also, the article also doesn’t mention that this mill had a RADICAL UNION, that went on strike, rather than accept paycuts and technology upgrades that meant fewer jobs, at an already nearly bankrupt company that S&P was already downgrading the credit of, in 1997.
I’ve seen this same story, repeated over, and over, and over, over the years.
Also, it should be noted that Bain paid $75Mil for the company, invested something like $20 Mil in new equipment, and only made $4 mil selling it.
Not including expenses.
As I said, this is a MEDIA HIT JOB.