There is an article in my hometown paper back in Iowa, the Quad City Times, about a new ad praising John Edwards by Working 4 Working Americans. This ad fails to show the role that Fortress Investment Group, where Edwards was an adviser, had in closing Maytag’s Newton Iowa plant. Fortress is a stock owner in Whirlpool, the company that acquired Maytag and eventually shut down the company. Interesting quotes that contradict that he cared about Maytag workers and that fact that Edward advised the hedge fund and was heavily invested in it but had no input as an Advisor:
From the Richardson Campaign:
“John Edwards was paid nearly half a million dollars by the same hedge fund at the time the Maytag plant was shuttered, and he had $16 million of his own fortune invested there,” Becker said in a statement. “Can John Edwards be a champion for jobs in Newton, Iowa, when he works for and invests in a hedge fund that helped eliminate those same jobs? If anything, Edwards probably owes those families an explanation.”
And from the Edwards Campaign
“No one has been stronger in standing up for Maytag workers than John Edwards, which is why so many of them are supporting him,” Leistikow said. “As president, he will never sign trade deals like NAFTA that put the profits of corporations ahead of the interests of workers like those who lost their jobs in Newton.”
Obviously the NAFTA comment was meant as a dig to Hillary since her husband signed the agreement but seems to be political buzz word talking since it doesn’t apply to refuting the Allegations against Edwards that he new about the Maytag takeover. In the world of “politics causes strange bed fellows. Max Tipton, a Newton resident and retired United Auto Workers who is supporting Edwards is quoted as saying.“Everybody that has a dollar or two has some stock in some company,” Tipton said. “I do, you know, and so it’s really, I think, asinine for any candidate to suggest that John Edwards in any shape or form had anything to do with the closing of Maytag.”
This is true Mr. Tipton but a 16 million dollars investment gets you more pull in a company that a dollar or two investent and Edwards should have used that influence to help the workers he claims to care about are say he didn't really care about the Maytag workers and suffer the consiquences.
You can read the Article here: http://www.qctimes.com/articles/2007/12/20/news/elections/doc476a00a9be43a149314874.txt