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View Diary: Bain: Outsourcing IS Offshoring (109 comments)

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  •  You Are Deliberately Trying To Confuse People And (4+ / 0-)

    are comparing apples to oranges. They are both fruit, and that is where the similarity ends. The Obama administration helped the domestic auto industry to survive in this country via the bailout, and saved millions of American jobs in the process. As opposed to RMoney and Bain Capital, whose purpose was NOT to  "save" any US jobs, but instead to ship as many jobs overseas as possible to make profits for itself and its shareholders.  Now answer these questions: Did President Obama pocket millions with the auto bailout? Not that I know of.  Did RMoney pocket millions when Bain Capital offshored American jobs - YES!! Did President Obama help to "save" every single automotive job in this country? No, but he saved the majority of jobs thanks to the bailout. Did RMoney "save" any US jobs when Bain offshored US companies? NO.

    •  From the point of view of displaced auto (1+ / 0-)
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      industry workers, what the hell is the difference?

      No.. Obama didn't personally make millions from saving GM & Chrysler.  So what?  The "profits" are being held by the federal government instead of a private capital firm.

      The point is: Obama did exactly the same thing for GM and Chrysler that Bain did for many other companies - applied harsh business practices - cutting divisions, cutting redundant offices (dealerships), cutting drastically employee benefits and pay and eliminating thousands of jobs.

      GM, last year, opened a new $540 Million dollar plant in Toluca Mexico to make engines.  WTF is the difference, I ask you??

      Did RMoney "save" any US jobs when Bain offshored US companies?
      Are being purposely naive/obtuse/ignorant here?  

      Of course Bain saved US jobs.  Some of those companies were so badly run, they were failing.  Some were so bad off they had to go through bankruptcy (much like GM did without the formal declaration) before they emerged a healthier company.  Some of those companies have thrived after reorganization.  Some of those companies would have gone under if they had not offshored, leaving thousands of US employees without jobs.  

      Perhaps not on a scale of a GM, but who knows how many thousands of US jobs Bain saved?

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