Steel mill polluted town as Romney firm profited

[her209]

http://www.delawareonline.com/viewa...irm-profited?odyssey=mod|newswell|text|Home|s

State officials determined the mill was largely to blame for the pollution. As the lawsuit dragged on for years, the steel mill filed for bankruptcy and the plant ultimately settled with the residents.

In the end, Bain walked away with more than $30 million in profits. Carter got $800.

“That wasn’t even enough to paint the house,” said Carter, who is a Romney supporter this election.

Super PAC ad in 3... 2... 1...

 

[Texashiker]

Isn't this the american way?

 

[cybrsage]

Steel mill causes pollution, news at 11.

 

[nageov3t]

she had to have her house pressure washed?

the humanity...

 

[dank69]

...

... Carter, who is a Romney supporter this election.

...

Fantastic.

Clearly not an attack angle with any teeth if the one affected is still supporting him.

 

[dank69]

she had to have her house pressure washed?

the humanity...

I'm sure if it was happening to you you'd think it was no big deal.

 

[techs]

The point of this thread, imo, is that the artificial socialist creation of "corporations" is not working.
Fight Socialism. End "corporations"

 

[nageov3t]

I'm sure if it was happening to you you'd think it was no big deal.

it sounds like a pain in the ass, like it's a pain in the ass that my car is covered in bird shit on a weekly basis because all the parking lots in my town are under bridges/overpasses.

but the article makes it sound like people are dying from cancer and fish are growing two heads.

 

[nehalem256]

Steel mill causes pollution, news at 11.

The point of this thread, imo, is that the artificial socialist creation of "corporations" is not working.
Fight Socialism. End "corporations"

Clearly the solution is to export all of our industrial jobs to China. What could possibly go wrong?

 

[yllus]

Steel mills are dirty. Bain could not have turned this a "clean" steel mill even if they spared no expense. This is a non-story.

 

[Genx87]

The point of this thread, imo, is that the artificial socialist creation of "corporations" is not working.
Fight Socialism. End "corporations"

There is nothing articial about a corporation. It is a collectivist organization just like socialism is a collecitivist ideology.

 

[BoberFett]

The point of this thread, imo, is that the artificial socialist creation of "corporations" is not working.
Fight Socialism. End "corporations"

Ah, so you're a libertarian after all?

 

[BoberFett]

There is nothing articial about a corporation. It is a collectivist organization just like socialism is a collecitivist ideology.

Corporations are organizations with specific protections and advantages granted by the state that an individual does not possess. You're a sole proprietor? Then you're personally on the hook for anything your company does. Incorporate? Suddenly you have the magical protection of limited liability to protect your personal assets, so go hog wild and fuck over anybody and anything you want. It's OK, you're not personally liable.

Want to see the free market fix itself? End limited liability. Let injured parties go after shareholders beyond their investment.

 

[nehalem256]

Steel mills are dirty. Bain could not have turned this a "clean" steel mill even if they spared no expense. This is a non-story.

They could have out-sourced it to China :sneaky:

 

[PokerGuy]

So, if Bain hadn't owned this mill, this would not have happened..... right? .... oh wait, another fail thread.

 

[rudder]

So, if Bain hadn't owned this mill, this would not have happened..... right? .... oh wait, another fail thread.

Well there is a possibility another investor may have bought the company. And there is a possibility this other investor may have made the steel mill close sooner. So there is a possibility there could have been less pollution.

 

[DrPizza]

So, if Bain hadn't owned this mill, this would not have happened..... right? .... oh wait, another fail thread.

I think the point was "this is what happened - they made all the profits and screwed us over. NOW, Romney wants to roll back environmental protections so they can make even more profits, while screwing the environment more."

 

[MrColin]

Want to see the free market fix itself? End limited liability. Let injured parties go after shareholders beyond their investment.

This^
They need to be accountable to stakeholders as well as shareholders. I think the only way we will see any positive change is if activist corporations are formed that use the standard loopholes to harm lawmakers directly. Legislators didn't give a crap about the phone slamming scams in the '90's until some of them were targeted themselves.

 

[Matt1970]

Incase you didn't read all 3 pages.

Bain Capital purchased the Georgetown mill and its sister plant in Kansas City, Mo., as part of a $24.5 million buyout deal. In February 2001, the company filed for bankruptcy protection with more than $500 million in debt.

Ya, I can see how that is $30 Million in profit.

The steel mill offered to settle the case for $870,000 - After attorney’s fees, that came to about $113,000, split dozens of ways.

Gotta love the Lawyers. Thank God none of them ever run for office.

The federal government has declared goethite a hazardous substance for workers exposed to large quantities each day. It’s generally not toxic like arsenic and it doesn’t cause cancer like benzene, two pollutants that are regulated by the U.S. Environmental Protection Agency.

Why not just say it isn't like agent orange that a few drops can kill 100 people. But now that we have the thought of toxic chemical in your sub-conscience, this story will have more emotion.

It's all about context.

 

[techs]

The point of this thread, imo, is that the artificial socialist creation of "corporations" is not working.
Fight Socialism. End "corporations"

There is nothing articial about a corporation. It is a collectivist organization just like socialism is a collecitivist ideology.

Yes. The very concept of "corporations" is socialist.

 

[nageov3t]

I think the point was "this is what happened - they made all the profits and screwed us over. NOW, Romney wants to roll back environmental protections so they can make even more profits, while screwing the environment more."

short of this poor lady having to hose off her house, was there any environmental damage?

I don't recall the article mentioning it.

 

[techs]

Why not just say it isn't like agent orange that a few drops can kill 100 people. But now that we have the thought of toxic chemical in your sub-conscience, this story will have more emotion.

It's all about context.

Asbestos isn't toxic but it can still kill you.

 

[Phokus]

http://www.delawareonline.com/viewa...irm-profited?odyssey=mod|newswell|text|Home|s

“That wasn’t even enough to paint the house,” said Carter, who is a Romney supporter this election.

Now that is party loyalty.

 

[Dari]

Incase you didn't read all 3 pages.


Ya, I can see how that is $30 Million in profit.



Gotta love the Lawyers. Thank God none of them ever run for office.

Why not just say it isn't like agent orange that a few drops can kill 100 people. But now that we have the thought of toxic chemical in your sub-conscience, this story will have more emotion.

It's all about context.

How do you think it got all that debt?

 

[BoberFett]

Ya, I can see how that is $30 Million in profit.

Companies routinely lose vast quantities of money before they go out of business while the owners make out like bandits.