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WaPo: Romney's Bain Capital owned overseas outsourcing specialists that helped companies export jobs
WaPo: Romney's Bain Capital owned overseas outsourcing specialists that helped companies export jobs
by Eclectablog
GOPocrisy, thy name is Mitt Romney
Mitt Romney has been talking a lot on the campaign trail about stemming the tide of jobs moving overseas to places like China. As it turns out, his company Bain Capital, the one he says gives him the job creating experience that he needs to be the President of the United States, owned companies that were specialists in outsourcing jobs overseas and helped other companies to do so more efficiently and profitably.
This level of hypocrisy is almost breathtaking. What Mitt Romney knows how to do is to squeeze every last drop of profit out of a company, even if it means destroying the company and throwing Americans out of their jobs. While we've been saying this all along, we now have the proof.
As our country slowing gets back on its feet after eight years of economic decimation by the Bush administration, what we need is investment in American jobs and diversification of our industrial base. Investments in things like clean energy have the double impact of getting us off foreign-sourced fossil fuels that pollute our environment and ramping up a new industrial sector that is homegrown.
<...>
UPDATE: The Obama campaign issued this statement:
- more -
http://www.dailykos.com/story/2012/06/22/1102142/-NO-SURPRISE-Romney-s-Bain-Capital-owned-overseas-outsourcing-specialists-and-profited-handsomely
by Eclectablog
GOPocrisy, thy name is Mitt Romney
Mitt Romney has been talking a lot on the campaign trail about stemming the tide of jobs moving overseas to places like China. As it turns out, his company Bain Capital, the one he says gives him the job creating experience that he needs to be the President of the United States, owned companies that were specialists in outsourcing jobs overseas and helped other companies to do so more efficiently and profitably.
Mitt Romney’s financial company, Bain Capital, invested in a series of firms that specialized in relocating jobs done by American workers to new facilities in low-wage countries like China and India.
During the nearly 15 years that Romney was actively involved in running Bain, a private equity firm that he founded, it owned companies that were pioneers in the practice of shipping work from the United States to overseas call centers and factories making computer components, according to filings with the Securities and Exchange Commission.
Jobless states: The top 10:?Unemployment rose in 18 states in May, as well as nationally. Fewer jobs were created than in any other month of the past year. Here’s a look at the top 10 states with the highest unemployment rates.
While economists debate whether the massive outsourcing of American jobs over the last generation was inevitable, Romney in recent months has lamented the toll it’s taken on the U.S. economy. He has repeatedly pledged he would protect American employment by getting tough on China.
“They’ve been able to put American businesses out of business and kill American jobs,” he told workers at a Toledo fence factory in February. “If I’m president of the United States, that’s going to end.”
Speaking at a metalworking factory in Cincinnati last week, Romney cited his experience as a businessman, saying he knows what it would take to bring employers back to the United States. “For me it’s all about good jobs for the American people and a bright and prosperous future,” he said.
During the nearly 15 years that Romney was actively involved in running Bain, a private equity firm that he founded, it owned companies that were pioneers in the practice of shipping work from the United States to overseas call centers and factories making computer components, according to filings with the Securities and Exchange Commission.
Jobless states: The top 10:?Unemployment rose in 18 states in May, as well as nationally. Fewer jobs were created than in any other month of the past year. Here’s a look at the top 10 states with the highest unemployment rates.
While economists debate whether the massive outsourcing of American jobs over the last generation was inevitable, Romney in recent months has lamented the toll it’s taken on the U.S. economy. He has repeatedly pledged he would protect American employment by getting tough on China.
“They’ve been able to put American businesses out of business and kill American jobs,” he told workers at a Toledo fence factory in February. “If I’m president of the United States, that’s going to end.”
Speaking at a metalworking factory in Cincinnati last week, Romney cited his experience as a businessman, saying he knows what it would take to bring employers back to the United States. “For me it’s all about good jobs for the American people and a bright and prosperous future,” he said.
This level of hypocrisy is almost breathtaking. What Mitt Romney knows how to do is to squeeze every last drop of profit out of a company, even if it means destroying the company and throwing Americans out of their jobs. While we've been saying this all along, we now have the proof.
As our country slowing gets back on its feet after eight years of economic decimation by the Bush administration, what we need is investment in American jobs and diversification of our industrial base. Investments in things like clean energy have the double impact of getting us off foreign-sourced fossil fuels that pollute our environment and ramping up a new industrial sector that is homegrown.
<...>
UPDATE: The Obama campaign issued this statement:
Tonight's story in the Washington Post exposed Mitt Romney's breathtaking hypocrisy. He has campaigned all over this country, vowing that he would be an advocate for American jobs. But tonight we learned that he made a fortune advising companies on how to outsource jobs to China and India. Maybe that explains why, despite his campaign rhetoric, Romney continues to support tax policies that would reward companies who send American jobs overseas.
- more -
http://www.dailykos.com/story/2012/06/22/1102142/-NO-SURPRISE-Romney-s-Bain-Capital-owned-overseas-outsourcing-specialists-and-profited-handsomely
5 replies
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