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On Sept. 21, 1946, Harry and Joseph Kaufman opened a toy store at 70 Columbus Ave. in Pittsfield.
KB Toys prospered, changed owners a few times and, by 2000, was one of the largest toy retailers in America, with more than 1,000 stores in malls across the country.
That year, KB Toys was bought for $302 million by Bain Capital, a private equity firm headed by future Massachusetts Gov. Mitt Romney. Under Bain, the company borrowed heavily, used much of that money to pay Romneyâs firm a large dividend, and went out of business in 2009.
America used to make things. Today, its principal activity seems to be financial engineering.
Transcripts For CSPAN U 20120614 archive.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from archive.org Daily Mail and Mail on Sunday newspapers.