Skip to main content


When that unartful dodger Romney claims he was not an active CEO with Bain Capital once he took his leave in 1999 to go rescue the Olympics, he immediately follows that up with --

'So you can't blame me for any of the outsourcing Bain may have done AFTER that -- I wasn't running or directing Bain's activities then.'

What usually goes unasked at that juncture, are any questions about the astounding implications:
"So Mr Romney does that mean when you WERE directing Bain's activities -- prior to your 1999 leave -- you actively prevented the outsourcing (or "off-shoring" as you called it) of American Jobs, during your CEO watch?

Sir, were you hyper-vigilant about saving American Jobs, then -- BEFORE you left?


I can see the deer-in-the-headlights Willard glare now, as he desperately sketches up another dodgy answer, one that no one prep'ed him for. Who allowed these outrageous questions, anyways?


Fortunately, we don't have to wait for his "clumsy answer" ... we don't have "take his word for it" on whatever he might spin -- there is an extensive track record of what Mitt Romney DID "actively direct" during his Bain Capital CEO watch ... the one he admits to ...


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

by Tom Hamburger, washingtonpost.com -- June 21, 2012

[...]
Romney campaign officials repeatedly declined requests to comment on Bain’s record of investing in outsourcing firms during the Romney era.  Campaign officials have said it is unfair to criticize Romney for investments made by Bain after he left the firm but did not address those made on his watch. [...]
Until Romney left Bain Capital in 1999, he ran it with a proprietor’s zeal and attention to detail, earning a reputation for smart, hands-on management.

Bain’s foray into outsourcing began in 1993 when the private equity firm took a stake in Corporate Software Inc., or CSI, after helping to finance a $93 million buyout of the firm. CSI, which catered to technology companies like Microsoft, provided a range of services including outsourcing of customer support. Initially, CSI employed U.S. workers to provide these services but by the mid-1990s was setting up call centers outside the country.

Two years after Bain invested in the firm, CSI merged with another enterprise to form a new company called Stream International Inc. Stream immediately became active in the growing field of overseas calls centers. [...]

The corporate merger that created Stream also gave birth to another, related business known as Modus Media Inc., which specialized in helping companies outsource their manufacturing. Modus Media was a subsidiary of Stream that became an independent company in early 1998. Bain was the largest shareholder, SEC filings show.

[...] Modus Media told the SEC it was performing outsource packaging and hardware assembly for IBM, Sun Microsystems, Hewlett-Packard Co. and Dell Computer Corp. The filing disclosed that Modus had operations on four continents, including Asian facilities in Singapore, Taiwan, China and South Korea, and European facilities in Ireland and France, and a center in Australia.


Yep, Mitt knows "where those American Jobs GO" all-right ...

Mitt's got plenty of practice at building up economies -- in other Countries!


Here another Bain antedote that illustrates how much Willard M. Romney "cares about American Jobs" -- short answer:  as little as possible.

[...]
Another Bain investment was electronics manufacturer SMTC Corp. In June 1998, during Romney’s last year at Bain, his private equity firm acquired a Colorado manufacturer that specialized in the assembly of printed circuit boards. [...] Within a year of Bain taking over, SMTC told the SEC it was expanding production in Ireland and Mexico.
[...]

Thankfully "We got an Ad for that" ... one that helps explains Mitt Romney's greatest skill ... to the American workers he's been busy "actively effecting" ...


Obama For America TV Ad:  "Come And Go"


link to video


Transcript:

Running for Governor, Mitt Romney campaigned as a job creator. "I know how jobs are created."

But as a corporate raider he shipped jobs to China and Mexico.

As Governor, he did the same thing. Outsourcing state jobs to India. Now, he's making the exact same pitch. "I know why jobs come and why they go."

Outsourcing jobs. Romney economics: It didn't work then and it won't work now.


Here's the real problem for Mitt:  when you're really good at just a few ruthless economic skills, and if those skills don't really benefit the American People -- it really doesn't matter much exactly WHEN you acquired them!

Now does it?    If you don't have the Right Resume, Dude -- you just don't have the Right Resume!


Join the Club, Mitt -- you invented it.  It's uniquely American -- It's called the Unemployment Line.



Originally posted to Digging up those Facts ... for over 8 years. on Sun Jul 15, 2012 at 03:01 PM PDT.

Also republished by The Bain Files.

EMAIL TO A FRIEND X
Your Email has been sent.
You must add at least one tag to this diary before publishing it.

Add keywords that describe this diary. Separate multiple keywords with commas.
Tagging tips - Search For Tags - Browse For Tags

?

More Tagging tips:

A tag is a way to search for this diary. If someone is searching for "Barack Obama," is this a diary they'd be trying to find?

Use a person's full name, without any title. Senator Obama may become President Obama, and Michelle Obama might run for office.

If your diary covers an election or elected official, use election tags, which are generally the state abbreviation followed by the office. CA-01 is the first district House seat. CA-Sen covers both senate races. NY-GOV covers the New York governor's race.

Tags do not compound: that is, "education reform" is a completely different tag from "education". A tag like "reform" alone is probably not meaningful.

Consider if one or more of these tags fits your diary: Civil Rights, Community, Congress, Culture, Economy, Education, Elections, Energy, Environment, Health Care, International, Labor, Law, Media, Meta, National Security, Science, Transportation, or White House. If your diary is specific to a state, consider adding the state (California, Texas, etc). Keep in mind, though, that there are many wonderful and important diaries that don't fit in any of these tags. Don't worry if yours doesn't.

You can add a private note to this diary when hotlisting it:
Are you sure you want to remove this diary from your hotlist?
Are you sure you want to remove your recommendation? You can only recommend a diary once, so you will not be able to re-recommend it afterwards.
Rescue this diary, and add a note:
Are you sure you want to remove this diary from Rescue?
Choose where to republish this diary. The diary will be added to the queue for that group. Publish it from the queue to make it appear.

You must be a member of a group to use this feature.

Add a quick update to your diary without changing the diary itself:
Are you sure you want to remove this diary?
(The diary will be removed from the site and returned to your drafts for further editing.)
(The diary will be removed.)
Are you sure you want to save these changes to the published diary?

Comment Preferences

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site