“..Since the Republican presidential primary Dade Behring -
- which made blood-testing machines and conducted animal tests at its Miami plant -
- has become something of a focus.
Bain Capital, GOP presidential hope Mitt Romney’s firm, had bought Dade and shuttered its factory in Puerto Rico in 1998.
The closings continued under Bain’s management.
It’s become a familiar tale about Romney and Bain’s business dealings.
The New York Times reported that Bain pushed the profitable company into bankruptcy.
The Miami Herald followed with its own chronicle of the mass layoffs and mass profits for Romney and company.
The Tampa Bay Times reported that Dade had received millions in tax breaks to promote job creation in Puerto Rico one year before it closed the factory there.
Bain, of course, walked away with a huge profit.
In 1999, the private equity firm grabbed $242 million after it pressured Dade to borrow more millions to buy up Bain’s shares in the company…”
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