All Posts Tagged With: "WGS"

“The absence of a ‘Humanity Clause’ at Bain Capital” published in the DSM Register on 1/13/2012

Froma Harrop, is a syndicated columnist, born in New York City and a liberal writer and author. Her columns appear regularly in many major newspapers. She wrote the article “The absence of a ‘Humanity Clause’ at Bain Capital” published in the DSM Register on 1/13/2012

Ms. Harrop accurately states that Bain Capital bought majority control of Worldwide Grinding Systems (WGS) in 1993 for about $75 million. The rest of her story has the truth of a jigsaw puzzle with 10% of the parts showing.  She neglects to inform us that the previous owner of WGS, Armco Inc., incurred a $40 million book loss on the sale of WGS to Bain. Obviously WGS was a troubled business or their owner would not have taken such a …


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