Monday, July 23, 2012

Bain Capital closes last Baskin-Robbins factory

It's cheaper to hire out the work, after all. The unionized workers at the Baskin-Robbins plant in Peterborough Ontario were making in the range of $20 to $30 an hour! Can you even imagine such a thing? What is it, rocket science?

US plants were closed years ago and the work shipped to no-name ice-cream plants in "right-to-work" states. That's where a good solid ice-cream factory worker can be had for 9 or 10 bucks an hour. Far more realistic, wouldn't you think?

Now the Canadian plant will follow. Part of the rationale offered up by the company was that it's too small and can't keep up with demand. The real reason is that every dollar taken out of a worker's pocket is much better utilized up the corporate chain at Bain.

Bain took control of Baskin-Robbins in 2006 with the purchase of Dunkin Brands. They have since worked their usual magic of stripping the company and it's franchisees of as much value as possible before fobbing the result off on the public in an IPO.

But don't take my word for it. Here's an example from the business press  of a discussion of the shady dealings that go on when Bain comes to town. There's tons more out there and it makes fascinating reading.

Not that any of this has the slightest connection to Mitt, yahear! After all, he decamped in 99 to save the Olympics and hasn't looked back since...

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