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

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  •  From the point of view of displaced auto (1+ / 0-)
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    Sparhawk

    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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