Minnesota man to DNC: Bain put steelworkers out of work

Union leader David Foster of Minneapolis was one of three speakers featured at the Democratic National Convention on Wednesday night, each with an insider's story about how Bain Capital was bad for U.S. workers. Bain was formerly run by GOP presidential nominee Mitt Romney.
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David Foster, a former Kansas steelworkers union leader and now of Minneapolis, joined three people in the spotlight at the Democratic National Convention on Wednesday to share stories about Bain Capital, formerly run by GOP presidential candidate Mitt Romney, the Pioneer Press reports.

Foster said Bain burdened the Kansas City GST Steel mill with millions in debt and ultimately fired 750 steelworkers. Bain's investors walked away with $9 million, the New York Times reports.

"Now, some companies succeed; others fail. I know that," Foster told a national TV audience. "But I also know this: We don't need a president who fires steelworkers or says, 'Let Detroit go bankrupt.' " Here's the text of Foster's speech.

But the Times also notes that the mill was struggling when Bain bought it and tried unsuccessfully to save it. The Times also says Romney was no longer running day-to-day operations at Bain when the mill filed for bankruptcy.

FactCheck.org does a lengthy examination of Democrats' claims that Bain ruined GST Steel.

Bain issued a statement in response that read in part: "Bain Capital grows companies and improves their operations. It is disappointing to watch the distortion of our record and the political hyperbole that often occurs during campaigns."

Take a look for yourself – here are the three who shared their Bain stories at the DNC (Foster appears at the 5:00 mark):

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