Call It OutSourcing Or OffShoring-Mitt's Bain Created Jobs Overseas-THAT COULD HAVE BEEN DONE IN USA

[kpete]

When Romney’s Bain Capital created jobs outside the U.S. that could have been done here
Posted on June 24, 2012

Caroline Bankoff at Daily Intel discusses the recent Washington Post article about how Romney’s Bain Capital invested in companies that moved American jobs overseas: [The Romney] campaign has responded with a statement criticizing the article as “fundamentally flawed”:

The story that does not differentiate between domestic outsourcing versus offshoring nor versus work done overseas to support U.S. exports. Mitt Romney spent 25 years in the real world economy so he understands why jobs come and they go.

However, as Politico notes, the statement does not address one of the article’s main points, which is that Bain was directly involved with companies that created jobs outside the United States that could have been done here. Meanwhile, the New York Times has a piece (also based on Securities and Exchange Commission filings) detailing a number of instances in which Bain made a profit off of taking over companies that eventually went bankrupt. While some of the companies profiled may have simply been “too troubled to rescue” (or brought down by larger economic or industry trends), there are examples like steel manufacturer GS Industries…

more:
http://nymag.com/daily/intel/2012/06/bain-horror-stories-continue-to-haunt-romney.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+nymag%2Fintel+%28Daily+Intelligencer+-+New+York+Magazine%29

[valerief]

1. Yes, but Bain only did it for the most important reason in the world--to make rich people richer. nt