***WaPo*** Romney’s Bain Capital invested in companies that moved jobs overseas

[spanone]

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.

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.”

http://www.washingtonpost.com/business/economy/romneys-bain-capital-invested-in-companies-that-moved-jobs-overseas/2012/06/21/gJQAsD9ptV_print.html

[Yo_Mama_Been_Loggin]

1. But they're job creators.

It's just that they don't creat jobs in this country.

[freshwest]

8. +1,000

[TouchOfGray]

2. ***Chinadaily*** US Taxpayers invested in companies that moved jobs to China

GM set for approval on $1.1b China factory

General Motors Co, the world's biggest automaker, is poised to receive approval to build a 7 billion yuan ($1.1 billion) factory in China, according to a provincial government statement.
The plant, operated by GM's passenger-car venture with SAIC Motor Corp, will have an annual production capacity of 300,000 vehicles and will be located in the central city of Wuhan, the Hubei Environmental Protection Bureau said on its website. Shanghai GM is satisfied with its current capacity arrangements and has yet to make a decision on building a new factory in Wuhan, said Jerry Ma, a Shanghai-based spokesman.

http://www.chinadaily.com.cn/bizchina/2012-02/13/content_14592511.htm

[spanone]

3. so that exonerates mittens, eh?

[badtoworse]

7. That doesn't piss you off?

Considering the bailout US taxpayers gave GM, I'm livid.

[freshwest]

10. Didn't GM pay it back? Aren't the Chinese going to make cars for the Chinese use, like we do?

I won't google for you. If you want to diss Democrats or GM, I'm not here to dissuade you.

[badtoworse]

12. Who's dissing Democrats?

I was under the impression that the US still had substantial equity in GM, but I could be wrong about that. In any case, what would be wrong with the US supplying parts for Chinese cars or building the whole car here?

Even if they did pay it back, they would have gone under without a bailout. Building a plant here might have demonstrated a bit of gratitude.

[freshwest]

13. GM has been building NEW plants HERE. I"m tired of going over these things again and again.

The Chinese cars will not be made to American specifications. They are going to be made to fit their system, their size. They intend to make extremely small, very cheap cars that Americans would not want to buy. The parts we make are for our bigger cars.

They will be paying for the right to use the basic designs. This was all available when these things hit the news a while back. It's not a secret, it's not even news now.

This president has done all he could, beg and borrow, to save the jobs of American autoworkers, when every GOP and Romney said, 'let them go out of business.'

The Tea Party ran on opposing the auto bailout because they said that Obama was paying off the unions and those workers were going to be paid too much. GOP senators and representatives railed against it, so it's a right wing talking point.

Every right wing pundit smeared the Democrats and Obama for 'socializing the industry,' when he worked to keep faith with the American worker and has worked tirelessly to get manufacturing returned to the USA after decades of it being outsourced.

That China is going to make cars in their own country is not worth getting 'livid' about, unless you want to find fault using RW info.

This thread is about the GOP candidate, Romney, and BAIN, which shut down community shops, factories and businesses while stealing folks' pensions and health care to profit himself by crooked manipulations. Estimates are that for every job he destoyed, he made $20,000.

That is something that Democrats are 'livid' about.

[Rosa Luxemburg]

15. I don't think voters are aware of Bain's evil doings

The media just glossed it over.

[freshwest]

16. Yeah, but they didn't miss one faux-generated complaint on Obama.

They won the battle here, so I'm preparing for a Romney victory.

[Rosa Luxemburg]

17. I don't think the battle is over....

there could be more...

[Rosa Luxemburg]

5. So you like Romney?

3 posts?

[freshwest]

9. Mitt-bot's battery went kaput? No more? But no pizza yet.

[Kingofalldems]

18. Big Romney fan?

[Zalatix]

4. Any free traders want to jump in and say how this is good for America's workers?

Hello? *echo* *echo* *echo*

[Jackpine Radical]

6. America's workers are in the boardrooms and CEO offices.

That's why they get the appropriate rewards.

All the rest, the little people, are slackers & deserve to have their jobs farmed out to industrious foreigners who will do them for a reasonable wage--like $25 per 80-hour workweek.

[EFerrari]

11. The problem with pointing out how horrible Bain is

is that the other side wouldn't care if they ate babies on teevee, their name sounds like money.

[Rosa Luxemburg]

14. Just look at Halliburton!