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

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This article from the Washington Post by Tom Hamburger discusses a part of Mitt Romney's business career at Bain Capital that I doubt you will hear him bragging about on the campaign trail : helping companies outsource American jobs to low wage countries, jobs that sure would put a dent in the current unemployment rate and the federal deficit if they were brought back.

http://www.washingtonpost.com/business/economy/romneys-bain-capital-invested-in-companies-that-moved-jobs-overseas/2012/06/21/gJQAsD9ptV_story.html?hpid=z5

miksilvr
Joined:
Jul. 7, 2011 12:13 pm

Comments

Please see this related post of Thom's :

http://www.thomhartmann.com/forum/2012/06/us-call-center-industry-has-lost-500000-jobs-over-last-six-years

miksilvr
Joined:
Jul. 7, 2011 12:13 pm

Good. What has Obama done to lower the price of goods for me? Funny that unemployment was fine before 2008 despite companies aggressively outsourcing for years. If you actually listen to business owners they'll tell you what the problem is. It's a lot harder to get a loan and there's too much uncertainty right now when it comes to taxes and regulations. However, if you really want a job you can get one. If you want a good job you might have to put in a little effort to learn some skills and network.

Entitlement Society's picture
Entitlement Society
Joined:
Jun. 6, 2012 1:45 pm
Quote Entitlement Society:

Good. What has Obama done to lower the price of goods for me?

It's not in his job description.

Funny that unemployment was fine before 2008 despite companies aggressively outsourcing for years.

Speculative bubbles are usually effective at temporarily lowering unemployment.

If you actually listen to business owners they'll tell you what the problem is. It's a lot harder to get a loan and there's too much uncertainty right now when it comes to taxes and regulations.

Blame that on the Teabag House.

However, if you really want a job you can get one. If you want a good job you might have to put in a little effort to learn some skills and network.

So that Obama economy isn't so bad then, isn't it? Thanks for at least admitting that.

al3's picture
al3
Joined:
Jul. 31, 2007 4:01 pm
Quote al3:
Quote Entitlement Society:

Good. What has Obama done to lower the price of goods for me?

It's not in his job description.

Funny that unemployment was fine before 2008 despite companies aggressively outsourcing for years.

Speculative bubbles are usually effective at temporarily lowering unemployment.

If you actually listen to business owners they'll tell you what the problem is. It's a lot harder to get a loan and there's too much uncertainty right now when it comes to taxes and regulations.

Blame that on the Teabag House.

However, if you really want a job you can get one. If you want a good job you might have to put in a little effort to learn some skills and network.

So that Obama economy isn't so bad then, isn't it? Thanks for at least admitting that.

It's Obama's job to work with Congress on the economy. Affordable goods and services help an economy. Why is it Romney's job to make sure companies do not outsource, but not Obama's to keep goods affordable? It sounds like you're being selectively biased.

Jobs have been going overseas for a while now. It didn't begin happening in 2003. Up until the crash we have been able to sustain our economy by replacing outsourced jobs with new types of jobs. There are still a lot of jobs available. That being said, a lot of people are too lazy to get the prerequisite skills for them. It's much easier to blame corporations for your problems instead of taking ownership yourself.

Yes, the economy could be a lot worse. However, in my opinion Obama's actions have made it worse than it should be. If he wants to improve the economy he can do it without blaming and punnishing successful people. I don't understand the statement "blame it on the teabaggers". The Tea Party didn't give us Dodd-Frank, Obamacare, or threaten to raise taxes on business owners.

Entitlement Society's picture
Entitlement Society
Joined:
Jun. 6, 2012 1:45 pm
Quote Entitlement Society:

It's Obama's job to work with Congress on the economy.

It's also Congress' job to work with the President.

Affordable goods and services help an economy. Why is it Romney's job to make sure companies do not outsource, but not Obama's to keep goods affordable? It sounds like you're being selectively biased.

.....not sure I understand the argument here. Both should work with Congress to grow the economy and jobs, not make sure companies maximize their profits at any cost to the U.S. economy and national interest. Maximizing an economy on cheap junk from China and call centers in authoritarian countries doesn't work for me, sorry.

Jobs have been going overseas for a while now. It didn't begin happening in 2003. Up until the crash we have been able to sustain our economy by replacing outsourced jobs with new types of jobs.

You are right, those new types of jobs were building homes that nobody needed and pushing loans for homes that nobody needed and nobody could pay back.....

There are still a lot of jobs available.

At least a conservative admits the "Obama economy" is not all that bad. I'll respect you for that!

That being said, a lot of people are too lazy to get the prerequisite skills for them. It's much easier to blame corporations for your problems instead of taking ownership yourself.

Lazy may not the right word....ever tried to change careers, and face a pay cut, after age 45? Some can do it, and if you did, congrats. But I would not call them lazy.

Yes, the economy could be a lot worse. However, in my opinion Obama's actions have made it worse than it should be. If he wants to improve the economy he can do it without blaming and punnishing successful people. I don't understand the statement "blame it on the teabaggers". The Tea Party didn't give us Dodd-Frank, Obamacare, or threaten to raise taxes on business owners.

"Successful" people have never paid lower taxes. "Successful" people ie Wall St.,largely crashed the economy. They need to belly up and pay more. Corporate America, helped by communist countries, has never done better. I won't cry for them. That being said, we ALL need to belly up in some way shape or form.. I support raising Medicare premuims and age, for example.

al3's picture
al3
Joined:
Jul. 31, 2007 4:01 pm

A couple of updates on this topic from The DailyKos :

http://www.dailykos.com/story/2012/07/12/1108965/-More-Bain-pain-for-Mitt-Romney

http://www.dailykos.com/story/2012/07/12/1109095/-Did-Mitt-accidentally-tell-the-truth

And one from Fortune / CNNMoney with an opposing view :

http://finance.fortune.cnn.com/2012/07/12/mitt-romney-bain-exit/

miksilvr
Joined:
Jul. 7, 2011 12:13 pm
Quote Entitlement Society:

Good. What has Obama done to lower the price of goods for me?

Simple answer

http://www.obamanomicsoutsourced.com/

Redwing's picture
Redwing
Joined:
Jun. 21, 2012 5:12 am

More updates on Romney, Bain, and outsourcing (some links are within this article, including David Corn's new item) :

New evidence supports outsourcing despite Romney denials

http://www.examiner.com/article/new-evidence-supports-outsourcing-despite-romney-denials

I don't know about you, but I'm waiting for another quote from Willard like the one from earlier this year when the republicans were thinking about bringing up the Rev. Wright / Obama relationship again : “I’m not familiar precisely with what I said, but I’ll stand by what I said, whatever it was,” line ... oh, that one is priceless ... will it fit on a bumper sticker ? Maybe, on a big car, like Willard's Caddies. That line was followed shortly by “I’ll go back and take a look at what was said there.” Sarah Palin herself could not have said it any better.

----------------------------------------------------------------------------------------

source for the above Romney quotes :

http://abcnews.go.com/blogs/politics/2012/05/mitt-romney-defends-his-wright-quote-i-stand-by-what-i-said-whatever-it-was/

miksilvr
Joined:
Jul. 7, 2011 12:13 pm

I presume Entitlement Society refers to the Privateers whose "no value added" 'service fees' rip off the Treasury like nobody else. It cannot possibly be a snide remark about earned benefits or the idea that citizen birthrights in America could mean real access to education and healthcare without going into debt to the toll takers.

But, the idiotic economics of the Right prattles on no matter what happens in the real world. If I hear that businesses cannot plan due to the uncertainty about regulations looming over them one more time, I will barf. Then I will institue all the regulations they fear so they can go ahead and do business in full certainty.

It is true that the banksters are not lending, just sitting on the Bush payoffs and conspiring to slow down the economy for partisan goals. How do you blame Obama for this?

The GOPimps won't even agree to stuff they proposed in the first place. They are killing public sector jobs as if that made sense in a Depression. The hypocrisy is not even hidden. They flaunt it. Then they waste money on "acting out" their idiocy "repealing Obamacare" and "impeaching Holder."

drc2
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Apr. 26, 2012 12:15 pm

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