Romney - Outsourcer-in-Chief

[RecycleMichael]

http://www.washingtonpost.com/business/economy/romneys-bain-capital-invested-in-companies-that-moved-jobs-overseas/2012/06/21/gJQAsD9ptV_story.html?wp_login_redirect=0

Here are excerpts...

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 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.

Bain played several roles in helping these outsourcing companies, such as investing venture capital so they could grow and providing management and strategic business advice as they navigated this rapidly developing field.

It was and is all about profit. Romney's company didn't care about American jobs, they only wanted to bank as much cash as possible. While he certainly has a right to act that way, it ain't the kind of behavior or method that I want in a President.

During Romney's years at Bain Capital (which he founded), Bain invested in 77 firms and 22 of them went bankrupt. Some of the ones that didn't just shifted jobs overseas. I don't we can afford a guy like him leading our country.

[Hoss]

http://www.washingtonpost.com/business/economy/romneys-bain-capital-invested-in-companies-that-moved-jobs-overseas/2012/06/21/gJQAsD9ptV_story.html?wp_login_redirect=0

Here are excerpts...

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 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.

Bain played several roles in helping these outsourcing companies, such as investing venture capital so they could grow and providing management and strategic business advice as they navigated this rapidly developing field.

It was and is all about profit. Romney's company didn't care about American jobs, they only wanted to bank as much cash as possible. While he certainly has a right to act that way, it ain't the kind of behavior or method that I want in a President.

During Romney's years at Bain Capital (which he founded), Bain invested in 77 firms and 22 of them went bankrupt. Some of the ones that didn't just shifted jobs overseas. I don't we can afford a guy like him leading our country.

But...but....I thought being a shrewd businessman would be a requirement for being President?

Maybe if you intend to export the job of President overseas?

[AquaMan]

Yes, businessmen make such fine politicians. I can't wait for the local plumber, Mullin, to turn Oklahoma around with his common sense business acumen.

note for Sauerkraut, that was sarcasm.

[Conan71]

http://www.washingtonpost.com/business/economy/romneys-bain-capital-invested-in-companies-that-moved-jobs-overseas/2012/06/21/gJQAsD9ptV_story.html?wp_login_redirect=0

Here are excerpts...

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 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.

Bain played several roles in helping these outsourcing companies, such as investing venture capital so they could grow and providing management and strategic business advice as they navigated this rapidly developing field.

It was and is all about profit. Romney's company didn't care about American jobs, they only wanted to bank as much cash as possible. While he certainly has a right to act that way, it ain't the kind of behavior or method that I want in a President.

During Romney's years at Bain Capital (which he founded), Bain invested in 77 firms and 22 of them went bankrupt. Some of the ones that didn't just shifted jobs overseas. I don't we can afford a guy like him leading our country.

Ahem:

A war is emerging between Congress and the White House over high-profile stimulus programs that lawmakers claim aren't serving the American people.

Senate Democrats lashed out at the Obama administration on Wednesday, saying its stimulus wind energy program creates jobs overseas instead of in the U.S., and they're calling for the administration to put a stop to it.

"Today, we are demanding the Obama administration suspend this program immediately," said Sen. Chuck Schumer, D-N.Y.

The program has already spent $2 billion, funding enough projects to power 2.4 million homes. Any wind farm created in the U.S. is eligible for stimulus money to put up wind turbines, regardless of where those massive structures are made. Each turbine costs about $3 million, and reaches 40 stories into the sky.

An investigation by ABC News and the Investigative Reporting Workshop found that 79 percent of the program's money has gone to foreign companies, money that Schumer said was "federal tax dollars, the stimulus, which was sold as jobs in America."

http://abcnews.go.com/WN/obama-stimulus-money-spent-overseas/story?id=10002592#.T-h9mFGUcmQ

Looks like the Chinese got their Obama money.

[Gaspar]

Ahem:

Looks like the Chinese got their Obama money.

They're still getting it.

This is rather funny.

Lets see, when saving/investing in a failing company and you have the choice to move some of their assembly work over seas to make the company profitable again, or to keep that labor domestic and go out of business, what would I decide? 
Well golly, I think I would rather stay in business.

They are trying soooooooooo hard to paint Mr. Romney as a ?  Gosh, something gotta stick to the wall.  Keep trying.

If they keep working really hard, perhaps they can convince folks that he's the anti-woman, greedy, job killing, bully that abuses animals and eats babies. At least it's fun to watch.

Hey, I hear he once ate veal.  That's baby cow you know!

[Gaspar]

NewsBusters already picked this up.

Sorry, Washington Post, Romney didn't get rich moving U.S. jobs overseas
... the WaPo seems more than a little fuzzy about the basics of how international business works — and the difference between outsourcing and offshoring.

(Example 1) ... What CSI (Computer Software Inc.) actually did was provide U.S. software developers with technical support and sales. Example: It provided domestic outsourcing — which is different than overseas offshoring — for call centers and help desks. As far as its international business goes, CSI was reseller of U.S. software in European markets. In other words, they helped distribute U.S. software around the world.

(Example 2) ... overseas call centers in the WaPo story (relating to Stream International Inc.) were based in Europe and Japan, and serviced international customers of U.S. companies in their local languages.

(Example 3) ... what Modus Media did was help companies like Microsoft and IBM sell their products internationally. Products destined for American consumers were manufactured here at home.

(Example 4) ... GT Bicycles had overseas suppliers before Bain invested in the company.

(Example 5) ... (printed circuit board manufacturer) SMTC wasn't even acquired until months after Romney left Bain Capital. Is Romney running for president or is Bain?

(Example 6) ... (computer chipmaker and tester) Chippac was purchased in March 1999, a month after Romney left Bain Capital. Prior owner was Hyundai, a South Korean company that already had factories in Asia at the time of sale. So buying a company with foreign factories is the same, apparently, as "shipping jobs overseas," according to the Washington Post.

The Post threw six Hamburger haymakers at Romney, all of which wildly missed the mark. Only one arguably represents an example of outsourcing, and the former Massachusetts governor wasn't even in the ring at Bain when the relevant management decisions were made.

The ignorance on display (or the blind determination to disseminate falsehood regardless of the consequences, which sadly can't be ruled out) should be embarrassing to the Washington Post's managers and shareholders. One questions whether either is smart enough to acknowledge how Pethokoukis shredded their Mr. Hamburger.



Read more: http://newsbusters.org/blogs/tom-blumer/2012/06/22/aeis-pethokoukis-slices-dices-and-destroys-wapos-romney-outsourcing-stor#ixzz1yotBmst4

[Hoss]

NewsBusters already picked this up.

Sorry, Washington Post, Romney didn't get rich moving U.S. jobs overseas
... the WaPo seems more than a little fuzzy about the basics of how international business works — and the difference between outsourcing and offshoring.

(Example 1) ... What CSI (Computer Software Inc.) actually did was provide U.S. software developers with technical support and sales. Example: It provided domestic outsourcing — which is different than overseas offshoring — for call centers and help desks. As far as its international business goes, CSI was reseller of U.S. software in European markets. In other words, they helped distribute U.S. software around the world.

(Example 2) ... overseas call centers in the WaPo story (relating to Stream International Inc.) were based in Europe and Japan, and serviced international customers of U.S. companies in their local languages.

(Example 3) ... what Modus Media did was help companies like Microsoft and IBM sell their products internationally. Products destined for American consumers were manufactured here at home.

(Example 4) ... GT Bicycles had overseas suppliers before Bain invested in the company.

(Example 5) ... (printed circuit board manufacturer) SMTC wasn't even acquired until months after Romney left Bain Capital. Is Romney running for president or is Bain?

(Example 6) ... (computer chipmaker and tester) Chippac was purchased in March 1999, a month after Romney left Bain Capital. Prior owner was Hyundai, a South Korean company that already had factories in Asia at the time of sale. So buying a company with foreign factories is the same, apparently, as "shipping jobs overseas," according to the Washington Post.

The Post threw six Hamburger haymakers at Romney, all of which wildly missed the mark. Only one arguably represents an example of outsourcing, and the former Massachusetts governor wasn't even in the ring at Bain when the relevant management decisions were made.

The ignorance on display (or the blind determination to disseminate falsehood regardless of the consequences, which sadly can't be ruled out) should be embarrassing to the Washington Post's managers and shareholders. One questions whether either is smart enough to acknowledge how Pethokoukis shredded their Mr. Hamburger.



Read more: http://newsbusters.org/blogs/tom-blumer/2012/06/22/aeis-pethokoukis-slices-dices-and-destroys-wapos-romney-outsourcing-stor#ixzz1yotBmst4

You citing newsbusters is the equivalent to any of the left-leaners on here citing dailykos.

[Gaspar]

You citing newsbusters is the equivalent to any of the left-leaners on here citing dailykos.

Hey, I frequently cite Huffpo and the Post too.  I like a variety of sources. 

[Conan71]

You citing newsbusters is the equivalent to any of the left-leaners on here citing dailykos.

What difference does the source make if the rebuttal is entirely accurate?

[Hoss]

What difference does the source make if the rebuttal is entirely accurate?

Stating a point C..don't get bent out of shape.

Remember, appearances...everything.

[Red Arrow]

What difference does the source make if the rebuttal is entirely accurate?

Any source to the right of MSNBC cannot possibly be accurate.

[Hoss]

Any source to the right of MSNBC cannot possibly be accurate.

Glad to see you're finally coming around... 

[Hoss]

I found this amusing.  My source for this image?

A post on Free Republic from last November.  Vehemently opposing Romney's nomination.



http://www.freerepublic.com/focus/f-bloggers/2803167/posts

[Townsend]

Romney Camp Seeks Washington Post Retraction


http://www.thedailybeast.com/cheats/2012/06/27/romney-camp-seeks-washington-post-retraction.html

The Romney campaign is taking its complaints directly to the Washington Post's door. Romney officials are reportedly meeting with the paper Wednesday to ask it to retract a story on Mitt's outsourcing record as the head of Bain Capital. According to POLITICO, the campaign is up in arms about the Post's June 21st report, which depicted Bain as " helping outsourcing companies," that "were emerging as handmaidens" to a mass "outflow of employment." The campaign is prepared to defend each of the specified firms that the private equity firm represented at the time. "The Post's editors take all complaints seriously and are always willing to listen to concerns and look into them," Post spokesperson Kris Coratti said. In the past, Romney officials have said that the assertions confuse "outsourcing" with "offshoring."

[erfalf]

Figure there might be a better place for this but...

http://www.cbsnews.com/8301-201_162-57534507/suspect-caught-in-fed-reserve-bank-attack-plot/

I guess Ron Paul couldn't find some locals to do it.

On a serious note, I am happy to see our intelligence community having some successes. That's what they are there for, but they still deserve credit none the less.