Timeline of GST…

Timeline of GST Steel & Joe Soptic from 1970 to the Romney Ad

1970 GST Steel has 4500 employees
Late 1980’s GST Steel has only 1000 employees
1992 6th largest steel mills lose a combined $3 billion
1992 GST Steel lays off another 75 employees
1993 ARMCO (which owns GST Steel) loses $641 million
1993 Bain Capital purchases GST Steel for $80 million
1993 Bain Capital invests $100 million for GST Steel modernization
GST Steel becomes US leader in steel rod
1994 GST Steel revenues $1 billion
1997 GST Steel labor strike
1999 Romney leaves Bain to rescue the Olympics
2001 Joe Soptic is laid off by GST Steel but his wife has health insurance through her job
2001 GST Steel is one of 31 steel companies that went bankrupt
2003 Joe Soptic’s wife leaves job & loses insurance
2003 Romney becomes Governor of Mass.
2006 Joe Soptic wife goes to hospital for pneumonia & Doctors discover cancer and she dies
2012 Joe Soptic does ad for Obama campaign in May
2012 Joe Soptic blames Romney for wife’s death in Ad
2012 White House denies knowing Joe Soptic’s story
2012 Obama campaign admits knowing Joe Soptic story & using him in an earlier Ad

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