Bain Capital invested in companies that moved jobs overseas

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

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.”

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.

For years, Romney’s political opponents have tried to tie him to the practice of outsourcing American jobs. These political attacks have often focused on Bain’s involvement in specific business deals that resulted in job losses.

But a Washington Post examination of securities filings shows the extent of Bain’s investment in firms that specialized in helping other companies move or expand operations overseas. While Bain was not the largest player in the outsourcing field, the private equity firm was involved early on, at a time when the departure of jobs from the United States was beginning to accelerate and new companies were emerging as handmaidens to this outflow of employment.

Romney campaign officials repeatedly declined requests to comment on Bain’s record of investing in outsourcing firms during the Romney era. Campaign officials have said it is unfair to criticize Romney for investments made by Bain after he left the firm but did not address those made on his watch.

http://www.washingtonpost.com/business/ ... story.html

Well, I'm SHOCKED, I tell you, SHOCKED... I am constantly amazed at how many sides of his mouth the "job-creator-in-chief" can lie out of at once!

"They’ve been able to put American businesses out of business and kill American jobs,"....While shoveling the jobs out the back door as fast as his chubby little fingers could do it...

Wellll, I know I'M impressed. You better read this quick--before Gov Etch-a-Sketch finds a way to flip-flop on the answer again before the day is out... :bash

Big f'king deal!!! Bain was doing what every other equity investment firm does... make money. The same money that is shared with labor unions, public pension and retirement plans, private pension and retirement plans and individual investors. Bain was doing what every other equity investment firm does... generating taxes through profits, from the firms and from the investors. And because Bain was doing what every other equity investment firm does... make money for investors... and those investors spend money, reinvest money, build new equity and the process continues.

That's the facts, that's capitalism, and I'm sorry that you missed out on all that money.

As a consumer, I want to thank Bain Capital for lowering costs & prices and thereby increasing my income.

And as a consumer of clean air and water, I want to thank Mitt Romney for moving polluting production methods to other countries.

...And as a taxpayer, I want to thank Mitt Romney for throwing thousands out of work so that my taxes have to pay for their unemployment, and possibly their foodstamps...

And I want to thank Mitt Romney for his hypocrisy in calling himself a "job-creator" when he was shoveling American jobs out the back door as fast as he could. Takes a real numbnuts to be able to do that.

Talking about job killers? Seens the news from the coal fields back east? Hundreds of miners are being laid off because coal is distasteful to Barack Obama. Our president may not be good at creating jobs, but he does know how to kill jobs. Looks like a few more poor communities in Appalachia will lose even more income.

And I want to thank Mitt Romney for his hypocrisy in calling himself a "job-creator" when he was shoveling American jobs out the back door as fast as he could. Takes a real numbnuts to be able to do that.

Oh, and "our President" has already created more private-sector jobs (over 4.2 million) in 3-1/2 years than Bush created in 8 years (3 million)... :Snooze

But you keep regurgitating your stuff... It obviously makes you feel better--even if it is a lie.

If al these jobs have been created, why is unemployment still at 8.2% and rising?

Where are your numbers from? The View?

LJ cheers defense cuts even though the number who would lose their jobs (not just soldiers but also union defense contrator workers) would far outweigh anything Bain has done. And if our defense contrators lose contracts, much of the slack will be taken up by overseas contractors. You see the same thing in space research. We can't even send up our own astronauts anymore unless they hitch a ride with the Russians. Talk about sending jobs overseas!

But I actually support defense cuts because the huge deficit needs to be reduced to save this country. Same thing with Bain. You often have to make painful cuts to save a company. Saving some jobs is better than no jobs at all.

Because people like Romney have been off-shoring them for years; Because we were losing them at a rate of 750,000-800,000 A MONTH before Obama ever took office, and it's taken awhile to turn the ship around... Doesn't change the fact that Obama has created over 4.2 million in 3-1/2 years, and Bush only created 3 million in 8 years...does it.

My numbers are from the WSJ and the Dept of Labor...And I've posted the sources before.

...and man, if there is any ONE industry that it would NOT bother me to see losing jobs, it's the defense contractors... Perhaps they can all learn how to speak Hindi or Spanish, and move offshore--That seems to be where all the work is.

And I STILL want to thank Mitt Romney for his hypocrisy in calling himself a "job-creator" when he was shoveling American jobs out the back door as fast as he could. Takes a real numbnuts to be able to do that.

Obama: We had to destroy 20 million jobs to create 4.2 million?

And do they really count if they are short term public employees that states & municipalities can't afford?

But I forgot, "the private sector is doing fine." Maybe he meant the pirate sector?