Mitt Romney Work With Bain Captal Impacted NC

9:36 AM, Jan 20, 2012   |    comments
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A local organization donates Sealy mattresses to the families of children who sleep on the floor

Trinity, NC -- When Mitt Romney worked at Bain Capital, the company had a big impact on the Triad. The private equity firm bought mattress-maker Sealy and relocated its corporate headquarters from Cleveland to just south of High Point.

The Business Journal reports "no doubt, that's a big win for the Triad. But critics of Bain say that while private equity's involvement didn't drive Sealy into bankruptcy-inducing levels of debt, it did push the industry leader to pursue short-term profits at the expense of longer-term interests such as product quality and lasting market share."

Today, Sealy has about 4,300 total employees compared to about 4,900 when Bain acquired it in 1997.

Read more about it in the Triad Business Journal.

The Business Journal

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