Is This Why Romney Won't Talk to Sensata Workers Whose Jobs Are Being Shipped to China? - TruthOut

[WillyT]

Is This Why Romney Won't Talk to Sensata Workers Whose Jobs Are Being Shipped to China?
By Dave Johnson, Campaign for America's Future/TruthOut
Saturday, 13 October 2012 12:17

<snip>

On the campaign trail Romney says we shouldn't ship jobs to China and should "crack down" on China trade problems. But he refuses to help or even meet with the Sensata workers whose jobs are being shipped to China right now.

Why the refusal to line up his actions with his promises? A must-read, must-read, must-read news report explains how part of Romney's $450,000/week income comes from ... get this ... shipping jobs to China! Link: http://www.nytimes.com/2012/10/10/us/politics/as-romney-repeats-trade-message-bain-maintains-china-ties.html?pagewanted=all

First, the background...

Sensata - Happening Today

Mitt Romney started the "private equity" firm Bain Capital. Bain purchases companies using "leveraged buyouts" that borrow huge sums using the purchased company's own assets as collateral, uses the borrowed money to immediately pay itself, then cuts costs by doing things like sending jobs to China, cutting wages and manipulating tax rules to cut taxes owed, along with standard big-business practices like consolidating business units, taking advantage of economies of scale not available to smaller competitors, squeezing distribution channels for price cuts, and other practices that bring competitive advantages. (See So DID Mitt Romney Really "Create Jobs" At Staples? Link: http://www.ourfuture.org/blog-entry/2012072815/did-romney-really-create-jobs-staples ) After reorganizing the purchased companies Bain then "harvests" them for profit.

One company Bain Capital purchased is Sensata, a sensor manufacturer that makes key components for our automobile supply chain. Sensata then announced it is closing a factory in Freeport, Ill., and sending the manufacturing and jobs to China. (China is engaged in efforts to dominate American auto supplies. See China Cheating Costs 400K Auto Parts Jobs Link: http://www.ourfuture.org/blog-entry/2012020502/china-cheating-costs-400k-auto-parts-jobs and Why The Latest Trade Complaint Against China Matters. Link:http://www.ourfuture.org/blog-entry/2012093818/why-latest-trade-complaint-against-china-matters )

Bain/Sensata brought in Chinese workers and made the Freeport workers train them. Bain/Sensata is moving the equipment out of the Freeport factory and shipping it to China right now. The Freeport employees have set up a camp outside the factory that they call Bainport and are trying to stop the Bain trucks that are moving the equipment out for shipment to China. Supporters were arrested this week, trying to stop those trucks...

Much More: http://truth-out.org/news/item/12099-is-this-why-romney-wont-talk-to-sensata-workers-whose-jobs-are-being-shipped-to-china

[freshwest]

1. Major story. Kicking.

[goclark]

5. Major...keep kicked

[Left Coast2020]

37. And try to keep it in the news. Someone at CNN may be interested.

[porphyrian]

2. . n/t

[immoderate]

3. Kick for outrage.

--imm

[theinquisitivechad]

4. K & Mother-Effing R. N/T

[renate]

6. great links within this story, too

All very interesting.

Thank goodness this is coming out now and not in a month!

[titaniumsalute]

7. Kickety Kick Kick

[silverweb]

8. K&R

[FailureToCommunicate]

9. Gotta spread this far and wide!

Thanks for posting this

[calimary]

10. Kicked!

Evidently Chris Hayes of MSNBC is planning an expose with one of those laid-off Sensata workers as the interview guest. This coming weekend, as I recall. I found myself wondering - WHY wait til the weekend?

[Initech]

11. This is what those two imbeciles are going to do to the government.

[freshwest]

70. Absolutely... There is a Politicus USA article on this.. A version posted today.

We will be answering directly to our overlords, the Koches, etc..for every necessity of life. Fascism unleashed.

[JDPriestly]

12. K&R

[Smilo]

13. K&R

[allan01]

14. re:Is This Why Romney Won't Talk to Sensata Workers Whose Jobs Are Being Shipped to China? - TruthOu

this is going to be my first kick and recomend action. kick it out of the park . venture capitalists = job destryers (vulture capitalists) , not job creators. more interested in the perks and profits of the company they buy and then sell the jobs overseas

[aquart]

48. Bain is NOT a venture capital company.

Venture money is for start-ups. You sign a deal for a debilitating amount of future profit and a rich person gives you money to try out your concept and make it real. Venture is very risky and only for the very rich.

What Bain does isn't risky. They strike sweetheart deals with the banks to buy established companies using the value of the company they don't own as collateral (correct me if this is wrong. It sounds unbelievable. Is it?) Bain makes its money no matter what. A company making a decent profit with a good product is not enough for them. By firing the decently-paid workers and hiring cheap foreign labor, they can put the difference in their pockets.

Essentially, they are vandals raping and pillaging the hard work of others.

[mopinko]

15. no way this guy is worth only $250M.

none
none
none

he will lie when the truth would do.

[Plucketeer]

16. Kicking to...

..put a BIG donkey hoof in Rmoney's ass. <-Mitt

[riderinthestorm]

17. Wait, is it true Obama is also invested in Sensata?

From the article:

"Despite the President being invested in Sensata through his personal pension fund, and the government owning a major Sensata customer in GM, President Obama has not used his powers to help this situation in any way."— Curt Cashour, Romney Campaign Spokesman."

If this is true, both rMoney and Obama are probably equally guilty of turning a convenient blind eye to the Sensata story (which would dilute the outrage factor of this).

Anyone know the facts on Obama's stake in the company (if any?)

[WinkyDink]

18. You're joking, right? A part of a PENSION plan is the same as Romney's basic OWNERSHIP?

[Wednesdays]

24. Yeah, but you know how the Repuke spinmeisters will act on this...

"Obama's just as guilty!"

We have to counter the M$M bullshit propaganda EVERY time it comes up. Leave nothing to chance.

[Guitarzz]

39. Obama's Not Guilty Of Taking Down The American Flag While Chinese Worker Were Being Trained To Take

American Jobs Away.

[WillyT]

40. Great Point Guitarzz !!! - And Welcome To DU !!!

Glad ta have ya a aboard !!!

[riderinthestorm]

29. Nope, I'm not kidding. Any hint of an Obama connection to Sensata whereby HE'S not making a stink

will be spun as Obama condoning the same behavior by the company as Rmoney.

You and I both know it.

I simply hate that this story can be painted as having any connection with Obama at all. If the Dems are going to exploit it to tar Rmoney, then it better be pure as the driven snow (imho) for Obama or it has a tremendous chance of backfiring.

[Blanks]

78. Isn't the president required to have an arms length...

...from his investments? Just like Romney.

I don't think this is going anywhere (I'd be glad to be wrong). The taking down of the American flag just doesn't resonate with me. A lot of people seem very emotional about that. I'm not all that offended by it. I might take down the American flag at a place of business; just because of the level of respect that must be shown our flag. it isn't traitorous to take down the flag or even fly your own company flag instead. It's a business; not an embassy.

I'm a veteran. The flag is just a symbol. I don't agree with making people say the pledge of allegiance to it. Feel free to lambast me; we have a first amendment right to burn it. We can sure as hell take it down off of a flag-pole anytime we want.

As far as Bain out-sourcing jobs to China. Romney isn't supposed to be involved with Bain because he's running for office. It isn't going to stick.

I've been pointing out that Bain owns Rush Limbaugh, Sean Hannity and Glen Beck; nobody cares.

This issue is not going to single-handedly bring Romney down. I'm not discouraging people from pursuing it; just don't expect too much.

I thought Bush's DUI was the final blow to his campaign after he'd paid for an abortion and failed at business several times. Trust me this is not gonna do Romney in; any more than Bush's DUI did him in.

We're gonna win this on Obama's positives; not Romney's negatives. That's the more positive avenue to pursue. Obama's approval rating went up. Let's keep it that way and remember we want Obama to win; that's how Romney is going to lose.

[Paka]

69. Thank you WinkyDink!

There is no way to compare the two.

[99th_Monkey]

20. I doubt that Obama has any direct control over his pension fund

as to what they invest in or don't.

It would be cool though if GM told Sensata to go fuck themselves, and
find another USA-based supplier, but again, not sure Obama has any
direct control over that either ... but he could make the case publicly,
put some very visible pressure on them to do so, etc.

[riderinthestorm]

30. Agreed nt

[George II]

46. Do YOU know all the companies in which your pension fund is invested?

[theKed]

55. This.

A hundred times.

Especially since it's an Illinois State pension fund, which further limits any actual impact Obama might have on what it's invested in. You may as well try to say the entire State of Illinois is shipping Sensata jobs overseas - which is, of course, bat-shit pants-on-head crazy idiocy.

[AzDar]

19. K & R

[99th_Monkey]

21. K & f*cking R ~nt

[David Zephyr]

22. K&R. The goddamned corporate media will not cover this.

We should make it the Woodstock of the Economy.

[Egalitarian Thug]

43. This is the problem with government of the rich, by the rich, and for the rich. Whether a person

has $50M or $50B, it doesn't really matter because the solutions all entail those people putting a lot of those millions and billions back into the pockets of the people who actually do the work, and nobody in that class is ever going to advocate that.

The people not of that class lack even a vague notion of what the parasite class has or how they live. It is very literally a completely different world, one that most of us don't even know exists. They don't get that everybody they hear or see talking to them about these matters, no matter which side they're on, has far more in common with Mitt Rmoney, for example, than they do with them.

There are a couple of extremely rare exceptions, Michael Moore is one, Ed Schultz and Rachel Maddow might be others, but on the whole everyone we listen to, watch, and trust to tell us what's what is a member of the class of people that stay on top by keeping us down.

I don't know if the President has any stake in Sensata and if he does, he is probably not aware of it, but that is beside the point. We live in a system where the game is rigged, not just a little, but completely, to keep the winners winning and the suckers paying.

[George II]

47. What's this "corporate media" stuff, and them not reporting on it??

The New York Times reported on this five days ago
CNN reported on this two days ago

[George II]

53. Well, Obama did neither 1 nor 2 and still the "corporate media" in the form of...

...the NY Times and CNN have covered it, days before your proclamation. So your statement is false.

Oh, by the way, I AM AN AMERICAN BORN IN BROOKLYN NY OF AN AMERICAN FATHER AND CANADIAN MOTHER. As such, I am a citizen of both the United States of America AND Canada.

I have been a registered voter since I was 18 (the first or second year that the voting age was lowered to 18) and have voted EVERY year for 45 years.

I've been an elected official in my town for the last 8 years AND have been an officer of the local Democratic Party for the last 10 years.

So take your obnoxious, insulting smugness and go screw yourself!

[George II]

56. "Same to you"? Haven't heard that one in 40 years......thanks for the laugh!

[George II]

60. Thanks...

[theKed]

65. love you, too.

[Son of Gob]

61. Xenophobia is more common on sites like Stormfront and Free Republic.

Are you lost?

[Son of Gob]

66. Non-Americans who SUPPORT Democrats are welcome here

Take your xenophobic bullshit over to Free Republic.

[George II]

67. Your obnoxious implication in your response to me was...

....that I am NOT an American, that I am NOT a Democrat, that I am NOT elegible to register as a Democrat and that I am NOT eligible to vote in American elections.

You are totally wrong on all five counts - a clear example of classic xenophobia.

[Blanks]

79. I showed up late.

...and now it looks like you've been talking to yourself. The antagonistic poster self-deleted a great many messages and a few were hidden.

Things seem to have gotten a little spirited.

[George II]

83. He took issue with my comments, claiming that Canadians who can't vote or register as Democrats...

....should not be permitted to post on this site.

I pointed out his five false assumptions (see one of my posts above) and he left whimpering with his tail between his legs.

[Blanks]

84. I could see what you posted. His/her stuff is gone.

I think you won.

[limpyhobbler]

68. You're right about that trade deal.

It's probably difficult for the President's campaign to make a big issue out of Sensata since both candidates have the same position on the issue, as far as I know.

[malaise]

23. K & R

Important

[Berlum]

26. Freaking Republicans are out to destroy America

disgustipating

[Bill USA]

28. great post. recommended. bookmarked, shared on FB

[CWS]

31. Not so fast.....

Obama owns as much as $100,000 worth of Sensata stock.

That is all we're going to hear for the next few weeks. It's a mistake to push this story IMO.

[Indpndnt]

32. ...

[arcane1]

33. Not so fast:

http://www.democraticunderground.com/10021537652

[CaliforniaPeggy]

34. And you know this how? What an odd first post...

Even if he did, I would expect it would be in a blind trust, now wouldn't it?

[WillyT]

35. Link Please...

[hrmjustin]

38. Welcome to DU. I disagree I think we should go full ahead.

[Motown_Johnny]

41. Welcome to DU. Assuming President Obama bought that stock when the

company was manufacturing in the US then how does that reflect badly on him?

Is every stockholder in America now responsible for jobs being shipped overseas?

[DURHAM D]

42. Obama didn't buy any stock.

As a former state employee he has a retirement fund. They make decisions on what to invest in.

[Indpndnt]

44. Re: Your edited post

Then turn off Faux and hate radio, if you don't want to hear lies and distortions. Learn to live in reality.

[aquart]

51. Sensata's blood drips from Romney's teeth.

And the invested pension funds are being held hostage to this massacre by greed. They bought stock in a company that supported American middle-class families. Now the company won't even support the families of its miserably-paid Chinese workers.

There is no longer any honor or patriotism in owning Sensata. But there was when it was bought. Shame on Bain for putting profit before country.

[Guitarzz]

36. That They Took Down The American Flag While Chinese Workers Were Being Trained To Take American Jobs

Should Be The Big Story...

[Cha]

50. THIS^^^^^^^^^ THanks, Guitarzz!

[aquart]

45. Capitalism is clearly in conflict with national interest here.

Profit is NOT everything. It is, especially in this instance, insanely short-sighted. Bain is happily weakening American independence in its grotesque greed.

Bain Capital is a form of parasitic disease.

[heaven05]

49. and

what about the fucking TAX RETURNS MITTYTWIT HASN'T PRODUCED FOR THE LAST TEN YEARS!!!!!!!!!!! we can't let that die either.

[tavalon]

57. kick

[damnedifIknow]

58. Far from the respectable businessman he claims to be, Romney has long engaged in horrific practices

[link:http://www.alternet.org/election-2012/revealed-romneys-bain-capital-invested-grotesque-chinese-sweatshop-detailed-boca-raton|

[amborin]

64. k&r

[Berlum]

77. k&r

of course

[SunSeeker]

71. K&R

[Amonester]

72. K&R (n/t)

[dchill]

73. Absolute K & R!

Well done.

[demgrrrll]

74. kick

[TexasTowelie]

75. K&R

[Tigress DEM]

76. EVEN if he only STOOD AGAINST this outsourcing to GET VOTES, it would have helped people.

BUT in the MIDDLE of an election bid he can't even be bothered to confront HIS OWN COMPANY - past COMPANY current STOCK OWNER about shipping jobs over to China.

IF NOT NOW, Robme, WHEN?

IF NOT BAIN, WHO?

LIAR.

Hypocrite.

Pharisee.

Matt 23:27-29 Woe to you, scribes and Pharisees, hypocrites! For you are like whitewashed tombs which indeed appear beautiful outwardly, but inside are full of dead men's bones and all uncleanness. Even so you also outwardly appear righteous to men, but inside you are full of hypocrisy and lawlessness.

[bonniebgood]

80. tigressDEM here's the deal

You say "IF NOT NOW, Robme, WHEN?" If Robeme becomes President, planned parenthood and sesame street will be the last thing he thinks about or care about, the bottom-line is Robme bloodline.

It is more cost effective to bring in all the Chinese workers here to the USA mainland than to ship all that heavy equipment to China. They will be IN the USA making $1.00 an hour and living in all of the for profit prisons 10 to a 8x8 cell. Then there is PLENTY of foreclosed Real Estate to house them.

This was the sign of lowering the US Flag and Raising the Chinese flag.

You and the world have never seen Human Trafficking before if Robme comes to the USA.
Bookmark my word, I called it right on the debate on robme and Obama.
This guy and the 1% has a plan and it's not the USA people, it trillions in profit to steal.

[rhett o rick]

81. Anyone know how much of a tax break Bain got for moving that plant

to Communist China.

By the way, I suggest that we call Republicans "Commie sympathizers" at every opportunity.

[TwilightGardener]

82. Romney is Bain. He needs to address the "citizens" of Bainport, or he's

a sniveling coward.

[Guitarzz]

86. Is It True That In Chinese Romney's Name Translates To "Fook Yu?"

[MaeScott]

87. K and R nt