Posted on 10/12/2012 5:40:37 PM PDT by mdittmar
This new video from the United Steelworkers (USW) exposes how Mitt Romney and Bain Capital are profiting by selling out America's workers and shipping U.S. jobs to China.
In 2010, the Bain Capital-controlled Sensata Technologies bought Honeywell’s automotive onboard sensor business, including a Freeport, Ill., plant, where 170 workers were making a middle-class living. Says Tom Gaulrapp:
They came in and introduced the transition team, and the next bullet in the meeting was, 'By the way, by the end of 2012 all the jobs in this plant will be moved to China.'
Those middle-class jobs were, according to the Institute for Global Labor and Human Rights, headed for Sensata facilities where mostly female workers earn 99 cents an hour for 12-hour days, seven days a week.
USW President Leo W. Gerard says, “Mitt Romney likes to say that he knows nothing about tax breaks for offshoring American jobs, or that he shouldn’t be held accountable for Bain Capital’s actions since he’s no longer CEO.”
Our video shows the truth about the kind of economy Romney wants, and it exposes the fact that he continues to own shares in Bain-controlled companies like Sensata that profit from sending these good jobs to China.
The New York Times reported this summer:
[Mitt Romney] owns about $8 million worth of Bain funds that hold 51 percent of Sensata’s shares. If Sensata saves money by closing the Freeport plant, that could add money to Mr. Romney’s trust accounts, now or after the election.
Watch the video where workers talk about the impact of losing their jobs to China had on their families and their community. Then read this report from the institute on the Chinese factories Bain and Romney are profiting from.
Good question. Seems he could have waited until after the election if he has legit concerns. Maybe he wants Obama-Biden in for another 4.
Was Romney in charge of Bain Capital in 2010 to 2012? Didn't think so.
Who was President and doing nothing to help the economy except schlep money to "green" companies like Solyndra? Oh Yea Obama was.
There is an increasing proportion of Americans who are beginning to have it up to here with companies selling themselves out.
The push-back when it comes, will be brutal.
Give it up.
and what is your point??? This sleaze has been floating around for awhile. Do you think it changes our desire to get rid of the current dolt in chief???
I’m not pointing fingers directly at Romney...i’m just talking about the issue in general...I will vote for Romney but that doesn’t mean i support all of his positions...i remember when you could almost get banned on FR if you disagreed with any GWB position....let’s not forget that Romney was a Mass. Governor...hope FR holds his feet to the fire and stands on principle...but in the end, we must get the Magic Negro out of his current office.
I happen to believe Romney will be almost militantly pro-American in trade.
He just won’t say so, before the election.
We shall see.
The hard truth is that a lot of it isn't crap.
Yes they do produce a lot of marginal stuff, but there are also many very competent producers in China with very low costs who are ruthless competitors. They have a lot more educated people than other low cost places like Mexico. 20% of all the people who took the GMAT last year were Chinese nationals.
Nobody seems to think iPhones, iPods, etc are crap. They are also very good in some categories of auto parts.
I hope you are right...nothing would make me happier.
Yeah - the AFL-CIO is a bastion of reliable, un-biased, and honest information. They have no political axe to grind, and nothing at all to gain by supporting Obama...
I cannot speak for FR, and I am amused that you would presume to think so, but I am not in the favor of our government creating artificial monopolies at my expense, so that some union worker turning a screw can keep his job.
The AFL-CIO and their brethren are the ones that are responsible for chasing all of these jobs to China. Now they want to turn around and blame it on the companies that shifted their production to China in order to stay viable ?
The truth is, most of the companies these unions parasitize don’t get to move jobs oversea, they’re simply run out of business and an entrepreneur in China or the Chinese government just picks up the slack. Don’t get me wrong, I like paying less for electronics and other products and I’m sure the fine people at the AFL-CIO buy as many cheap chinese made products as the next guy. However, a manufacturer in this country not only has to support it’s employees but they have to put out enough extra to support the excesses of the union that represents them. Salaries get blown up, benefits soar, unions complain just to justify their own existence. On top of this the unions bring Dem government which means more taxes, more regulations, and more roadblocks to opening a business.
There are many products that are expensive to ship from China and the Chinese quality sucks. We could compete with these products if the pay of our workers was based on the market and government got out of our way. If I can hire 3 better workers from the job market to replace one union bum at the same cost, but union contracts stop me from doing so, there is a major problem and I’ll never be able to compete.
Workers are paid for the job they do even if the company loses money and that’s the way it should be, they are providing a valuable service. Profits are paid to the owners for the risks they take and the time they put into the business. No profit, no pay, if workers think they deserve a share of the profit, do you think any of them would accept a share of the losses ?
And now it's be very careful if you think Mitt's the wisest vote this November. No Mitt boosters tolerated, that weasely liar, burn us once shame on you Mitt, burn us twice shame on us! C'est le Jim. Grin and bear (with) it.
Somehow those turned screws from China aren’t so cheap when we figure in the loaded cost of having to borrow from them.
Sources matter. You might as well cite a DNC press release.
In 2010, the Bain Capital-controlled Sensata Technologies bought Honeywell’s automotive onboard sensor business, including a Freeport, Ill., plant, where 170 workers were making a middle-class living. Says Tom Gaulrapp:
Romney has not been at Bain since the 1990s. Another epic fail by the Leftist lie machine.
Deninger is a nutcase and a fraud.
Pull out the tax code and point it out, Gerard. If you can. In the meantime you'd be screaming for a change in the boss of any company that was giving you grief, wouldn't you? Why is Mitt having left Bain an exception to that principle?
Romney been gone from Bain longer then you have been a Freeper.
Unions are selling out America’s workers. The unreasonable demands are destroying business and killing jobs.
Keep it up Unions and soon enough their will be a global minimum wage, the lower will come up and the higher will go down.
Isn’t that nice, everyone worldwide equal in misery.
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