Tag Archives: private equity firm

WashPo: Bain helped send jobs overseas

It is probably true. It is no secret that doing business in the United States is very expensive and more risky because of government meddling. There are lots of companies that in order to survive had to leave and that is not Mitt’s fault.

Remember how many Heinz plants the Kerry’s moved overseas?

The only way to fix this problem is with a new, simpler, flatter tax code, regulatory reform and the size of government cut a lot, much like the Deficit Commission said.  Without doubt, if we had those reforms companies would keep more jobs at home, yet what party always stands in the way of these common sense reforms?

Of course when companies get driven out of the country or shut down by onerous government or just flat out abuse such as what the Obama Administration did to Gibson Guitar the elite media doesn’t have much to say about that do they?

Remember the stimulus money that went to an electric car company in Finland, and subsidized loans to Brazil to drill in deep water when he was preventing our people from drilling,  or how General Electric, whose CEO Jeff Immelt sent jobs overseas shortly after he was appointed Jobs Czar by President Obama?

Washington Post:

Mitt Romney’s financial company, Bain Capital, invested in a series of firms that specialized in relocating jobs done by American workers to new facilities in low-wage countries like China and India.

During the nearly 15 years that Romney was actively involved in running Bain, a private equity firm that he founded, it owned companies that were pioneers in the practice of shipping work from the United States to overseas call centers and factories making computer components, according to filings with the Securities and Exchange Commission.

More HERE.