Warm Southern Breeze

"… there is no such thing as nothing."

Posts Tagged ‘off shoring’

Mitt Romney won’t intervene in Bain’s export of 170 American jobs to China

Posted by Warm Southern Breeze on Friday, October 12, 2012

The company is profitable.

Sensata Technologies, 2520 S. Walnut Road, Freeport, Illinois – which was created by Bain Capital in 2006 – develops, manufactures, and sells sensors and controls for major auto manufacturers such as Ford and General Motors.

Despite rising profits, the company plans to institute the final layoffs in November. The workers are training their Chinese replacements, who have been flown to Illinois by the company.

Republican presidential candidate Mitt Romney is a co-founder of Bain Capital, the private equity investment firm that created Sensata. According to SEC filings, Romney served as CEO of Bain Capital from its founding in 1984 until 2002. Romney, however, has repeatedly said he left the company in 1999.

The employees’ website is Bainport.com.

Why Romney can’t save the Sensata workers

By September 18, 2012: 4:43 PM ET

Sorry, but Mitt Romney won’t save the Freeport jobs

sensata_employees

Protesters want Mitt Romney to intervene on their behalf.

FORTUNE — As Occupy Wall Street celebrated its one-year anniversary yesterday in Zuccotti Park, a much smaller group of protesters set up camp in the northwestern Illinois town of Freeport. They called it called BainVille, in sarcastic homage to the private equity firm they blame for outsourcing their jobs to China.

What the protesters want is for Mitt Romney to intervene on their behalf, leveraging both his national profile and his relationship with Bain Capital executives. And, in theory, it makes sense. After all, what presidential candidate wouldn’t want to help save 170 American manufacturing jobs? Particularly someone who talks about getting tough with China?

But it simply isn’t going to happen.

For the uninitiated, here’s a quick backgrounder: Late last year, a Bain-owned company called Sensata Technologies (ST) agreed to Read the rest of this entry »

Advertisements

Posted in - Business... None of yours, - Politics... that "dirty" little "game" that first begins in the home., - Read 'em and weep: The Daily News | Tagged: , , , , , , , , , , , , , , , , , , , , , | Leave a Comment »

Do We Now Know Enough About Mitt Romney’s Taxes?

Posted by Warm Southern Breeze on Friday, September 28, 2012

MAKING SEN$E — September 28, 2012 at 5:04 PM EST

Do We Now Know Enough About Mitt Romney’s Taxes?

By: Paul Solman

US Republican presidential candidate Mitt Romney speaks at a town hall meeting at Central High School in Grand Junction, Colorado, on July 10, 2012, where he said he has ‘nothing hidden’ in his taxes. Photo by: Nicholas Kamm/AFP/Getty Images

It’s hard enough to figure out my own taxes every year without having to worry about Mitt Romney’s. But because the issue of Romney’s taxes has come to loom so large, I thought I’d better get some professional advice. So I sought out a friend, estate planning lawyer Matthew Berlin, who has modest clients like me as well as the high and well-heeled, some of them with assets abroad. I asked him if we now knew all we need to know, at least with respect to the tax returns Mitt Romney has disclosed publicly.

No, said Matthew. There are a host of questions that any inquiring tax attorney or journalist might ask. Without them, a true picture of Romney’s finances would be impossible. So I asked Matthew if he wouldn’t share the questions with us. Here they are: Read the rest of this entry »

Posted in - Politics... that "dirty" little "game" that first begins in the home. | Tagged: , , , , , , , , , , , , , , , , , , | Leave a Comment »

 
%d bloggers like this: