Obama Bain Donor Joined AMPAD Board After Layoffs
An Obama campaign's attack tells the story of laid off workers.
May 22, 2012 -- Note: This post originally stated that Bain's Jonathan Lavine was on the board of Ampad when the Indiana plant was closed. Recently reviewed documents from the SEC show he did not join the board until months later. This post was further updated in 2015 to remove a Web link that no longer exists and to revise the date of Mr. Lavine's departure from the Ampad board.
An Obama campaign's attack tells the story of workers at an Indiana office supply company who lost their jobs after a Bain-owned company named American Pad & Paper (Ampad) took over their company and drove it out of business.
A top Obama donor and fundraiser also served on the board of directors at Richardson, Texas-based Ampad, which makes office paper products. But he joined the Ampad board ten months after the layoffs occurred, according to documents review by ABC News.
Jonathan Lavine is a long-time Bain Capital executive and co-owner of the Boston Celtics. He is also one of President Obama's most prolific fundraisers. He has already raised more than $200,000 for the Obama campaign this election, according to Federal Election Commission records.
Lavine started working for Bain in 1993. He was one of three Bain executives who served on the board of directors of Ampad for several years, a post he held until 1999. Here's a news release announcing his departure from the company in March 1999.