Pro-Obama super PAC funds criticism of Romney business record
May 15th, 2012
07:00 AM ET
3 years ago

Pro-Obama super PAC funds criticism of Romney business record

(CNN) - A super PAC supporting President Barack Obama's reelection is piling onto the fight to define GOP candidate Mitt Romney's business background, spending $4 million in the second half of this month to air a television ad in five states, Priorities USA announced Tuesday.

"He promised us the same things he's promising the United States," a man whom the group says formerly worked at a Kansas City steel company says of Romney in the ad.

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"He'll give you the same thing he gave us: nothing," the ad continues. "He'll take it all."

The company, GST Steel, went bankrupt and closed in 2001, eight years after Romney's private equity firm, Bain Capital, purchased it, according to a Reuters report on the bankruptcy which is cited in the ad.

Romney left the company in 1999, but has continued to benefit through the company. His campaign has noted that Romney's finances are held in and managed by a "blind trust."

GST Steel, which became GS Technologies, is the same company used in a similar criticism of Romney's business record by the Obama campaign, which distributed a two-minute video featuring other employees of the company on Monday.

Federal campaign regulations prohibit coordination between campaigns and super PACs.

The $4 million buy will air in Colorado, Florida, Ohio, Pennsylvania, and Virginia between now and the end of May, a source familiar with the buy told CNN.

The Obama campaign buy is much smaller in scope: the two-minute ad is to air during evening newscasts on Wednesday.

A Republican ad-tracking source told CNN on Monday evening that $64,000 of airtime has been purchased in five battleground states, and a source with knowledge of the buy said it would total less than $100,000.

This comes months after Romney's opponents - candidates and super PACs alike - criticized him on the stump, in debates, and in millions of dollars of television ads for the results of his work at Bain.

The Priorities USA ad, like several before it, say that Romney's firm managed to profit handsomely while some of the companies they purchased went underwater.

"If we lost, they made money," Pat Wells, the worker featured in the Priorities USA ad, said. "If we survived, they made money."

In response to the Monday ad produced by Obama's campaign, Romney spokeswoman Andrea Saul said, "Mitt Romney helped create more jobs in his private sector experience and more jobs as governor of Massachusetts than President Obama has for the entire nation."

Her statement also criticized Obama's handling of the economic stimulus funds, which was used " to reward wealthy campaign donors with taxpayer money for bad ideas like Solyndra," while many Americans remained unemployed, she said.

- CNN's Paul Steinhauser, Kevin Bohn, Kevin Liptak, and Gregory Wallace contributed to this report

Also see:

Ron Paul to end active campaigning

RNC, Team Romney roll out debt attack on Obama

Leading progressive group attacks Romney over women's issues

Obama headlines two high dollar fundraisers in NYC


Filed under: 2012 • Ads • Mitt Romney • President Obama
soundoff (6 Responses)
  1. S.B. Stein E.B. NJ

    The problem is that we never saw the whole record of his time at Bain capital. How many companies stayed in business and how many were gutted and left to fail? How many of the surviving companies still have locations (and what kind) here in the US? There are many more questions that have to be answered about Romney's time at Bain Capital.

    May 15, 2012 07:31 am at 7:31 am |
  2. tryanothername

    Why doesn't the super PAC look into Obamas business record, Oh, there isn't any Obama business record.

    May 15, 2012 07:42 am at 7:42 am |
  3. Rudy NYC

    I think the Obama campaign has set their sails to tack the wind in the wrong fashion. They are coming up short of their goal because the ad does not did not point out Mitt Romney's claiming to have created 100,000 jobs while at Bain. Everyone knows that is false. Romney paints Bain as a job creation engine, which it wasn't The Obama campaign would be better served by painting Bain Capital for exactly what it is, as described in their Mission Statement. Their goal is to make a profits for their investors.

    May 15, 2012 08:16 am at 8:16 am |
  4. Myviewis

    So Union workers sleeping and drinking on the job and their work being completed by a non-Union worker and cheap imports from China, South America, Europe had nothing to do with this plant shutting down.

    May 15, 2012 08:39 am at 8:39 am |
  5. Myviewis

    Now how is it that Steel Dynamics employes around 6000 workers and from what I understand is successful

    May 15, 2012 08:41 am at 8:41 am |
  6. Dave

    FUNNY STUFF HERE!!!! Obama, who has no business experience, is criticizing Romney? Also, look at Obama's record with businesses. He is taxing and regulating them to death. He opposes any growth and expansion of business (e.g., the pipeline). He wastes money on GM bailouts, and they still go bankrupt and people get laid off. Solyndra is another perfect example. Look at the facts people!

    May 15, 2012 09:45 am at 9:45 am |