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Romney Economics: The story of GST Steel

“What [Mitt Romney’s firm] did was not capitalism, it was bad management. The decision-makers were governed by a different set of rules than the rest of us played by."

In 1993, Mitt Romney and his partners bought majority ownership of a 103-year-old steel mill in Kansas City, Missouri. Less than a decade later, GST Steel declared bankruptcy, and hundreds of workers were left without their jobs, their full pensions, and their health insurance. Yet somehow, Romney and his partners walked away with millions in profits.

This was just one example of "Romney Economics”—buying and selling companies for short-term gain and quick profits for Romney and his partners, with little regard for the workers who could get hurt in the process. It's this experience that Mitt Romney now cites as his key qualification to be president.

Watch the story of GST Steel—then visit for an in-depth look at Romney’s time in the private sector, and the impact his decisions had on workers and communities across the country.

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