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Romney: Outsourcer in Chief....aka...Job Killer.....

Discussion in 'Politics' started by ABikerSailor, Jun 29, 2012.

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Jun 29, 2012 #1

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ABikerSailor Platinum Member

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It seems that the Republican who is running on "jobs, jobs jobs" is actually a job killer for the US.

Here's his record at Bain Capital.................

During Mitt Romneys time running Bain Capital, the private equity firm invested in companies that were trailblazers in outsourcing jobs from the United States to call centers and factories making computer components in countries such as China and India, according to a report published late Thursday in the Washington Post.

The report could bring renewed examination to Romneys career at the company he helped found, as well as scrutiny to one of the Republican nominees recurring campaign pledges. Throughout his presidential bid, Romney has insisted repeatedly that, as president, he will get tough on China and thwart the burgeoning economic power from siphoning jobs from the U.S. With his experience as a businessman serving as the cornerstone of his campaign, Romney has argued that he will use his professional experience to create jobs in America.

But according to filings with the Securities Exchange Commission unearthed by the Post, Bains involvement in outsourcing came at a time when a growing number of American companies were shipping jobs overseas, making Romneys financial company an early player in the field.

From the Posts report:

Bains 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. Bain was initially a minority shareholder in Stream and was active in running the company, providing general executive and management services, according to SEC filings.

By 1997, Stream was running three tech-support call centers in Europe and was part of a call center joint venture in Japan, an SEC filing shows. The Company believes that the trend toward outsourcing technical support occurring in the U.S. is also occurring in international markets, the SEC filing said.

Stream continued to expand its overseas call centers. And Bains role also grew with time. It ultimately became the majority shareholder in Stream in 1999 several months after Romney left Bain to run the Salt Lake City Olympics.
Click to expand...

Report shows Romney and Bain Capital invested in companies that shipped jobs overseas | TPM2012

And then................there's his record of outsourcing MA jobs to India.

Yeah...............sure....................elect the sellout and watch this country be sold to the highest bidder.
Jun 29, 2012 #2

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ABikerSailor Platinum Member

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By the way people......................there is a distinct difference between venture and vulture capitalism.

Venture capitalists see a good idea and invest money in the product to see a modest profit.

Vulture capitalists (aka Romney) take already decent businesses, break 'em up and get rid of the American workers and ship the jobs overseas to other countries to make an obscene profit.

Now............I don't mind people making money, hell, I don't even mind if they become wealthy.

Just don't fuck over your fellow Americans when you do so.

And..................exactly HOW is Romney going to deal with China? By selling us out?
Jun 29, 2012 #3

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AmericanFirst Gold Member

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ABikerSailor said: ↑

It seems that the Republican who is running on "jobs, jobs jobs" is actually a job killer for the US.

Here's his record at Bain Capital.................

During Mitt Romneys time running Bain Capital, the private equity firm invested in companies that were trailblazers in outsourcing jobs from the United States to call centers and factories making computer components in countries such as China and India, according to a report published late Thursday in the Washington Post.

The report could bring renewed examination to Romneys career at the company he helped found, as well as scrutiny to one of the Republican nominees recurring campaign pledges. Throughout his presidential bid, Romney has insisted repeatedly that, as president, he will get tough on China and thwart the burgeoning economic power from siphoning jobs from the U.S. With his experience as a businessman serving as the cornerstone of his campaign, Romney has argued that he will use his professional experience to create jobs in America.

But according to filings with the Securities Exchange Commission unearthed by the Post, Bains involvement in outsourcing came at a time when a growing number of American companies were shipping jobs overseas, making Romneys financial company an early player in the field.

From the Posts report:

Bains 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. Bain was initially a minority shareholder in Stream and was active in running the company, providing general executive and management services, according to SEC filings.

By 1997, Stream was running three tech-support call centers in Europe and was part of a call center joint venture in Japan, an SEC filing shows. The Company believes that the trend toward outsourcing technical support occurring in the U.S. is also occurring in international markets, the SEC filing said.

Stream continued to expand its overseas call centers. And Bains role also grew with time. It ultimately became the majority shareholder in Stream in 1999 several months after Romney left Bain to run the Salt Lake City Olympics.
Click to expand...

Report shows Romney and Bain Capital invested in companies that shipped jobs overseas | TPM2012

And then................there's his record of outsourcing MA jobs to India.

Yeah...............sure....................elect the sellout and watch this country be sold to the highest bidder.
Click to expand...

Still better then the fool in office right now. Of course Mickey Mouse would be better then the fool in office right now.
Jun 29, 2012 #4

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HUGGY I Post Because I Care Supporting Member

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AmericanFirst said: ↑

ABikerSailor said: ↑

It seems that the Republican who is running on "jobs, jobs jobs" is actually a job killer for the US.

Here's his record at Bain Capital.................

During Mitt Romneys time running Bain Capital, the private equity firm invested in companies that were trailblazers in outsourcing jobs from the United States to call centers and factories making computer components in countries such as China and India, according to a report published late Thursday in the Washington Post.

The report could bring renewed examination to Romneys career at the company he helped found, as well as scrutiny to one of the Republican nominees recurring campaign pledges. Throughout his presidential bid, Romney has insisted repeatedly that, as president, he will get tough on China and thwart the burgeoning economic power from siphoning jobs from the U.S. With his experience as a businessman serving as the cornerstone of his campaign, Romney has argued that he will use his professional experience to create jobs in America.

But according to filings with the Securities Exchange Commission unearthed by the Post, Bains involvement in outsourcing came at a time when a growing number of American companies were shipping jobs overseas, making Romneys financial company an early player in the field.

From the Posts report:

Bains 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. Bain was initially a minority shareholder in Stream and was active in running the company, providing general executive and management services, according to SEC filings.

By 1997, Stream was running three tech-support call centers in Europe and was part of a call center joint venture in Japan, an SEC filing shows. The Company believes that the trend toward outsourcing technical support occurring in the U.S. is also occurring in international markets, the SEC filing said.

Stream continued to expand its overseas call centers. And Bains role also grew with time. It ultimately became the majority shareholder in Stream in 1999 several months after Romney left Bain to run the Salt Lake City Olympics.
Click to expand...

Report shows Romney and Bain Capital invested in companies that shipped jobs overseas | TPM2012

And then................there's his record of outsourcing MA jobs to India.

Yeah...............sure....................elect the sellout and watch this country be sold to the highest bidder.
Click to expand...

Still better then the fool in office right now. Of course Mickey Mouse would be better then the fool in office right now.
Click to expand...

So who are you representing in this cartoon drama???...Goofy?
Jun 29, 2012 #5

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Leweman Gold Member

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What was Obama's record like when he ran a company? Ohhhhhhhhh my bad.
Jun 29, 2012 #6

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AmericanFirst Gold Member

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HUGGY said: ↑

AmericanFirst said: ↑

ABikerSailor said: ↑

It seems that the Republican who is running on "jobs, jobs jobs" is actually a job killer for the US.

Here's his record at Bain Capital.................

Report shows Romney and Bain Capital invested in companies that shipped jobs overseas | TPM2012

And then................there's his record of outsourcing MA jobs to India.

Yeah...............sure....................elect the sellout and watch this country be sold to the highest bidder.
Click to expand...

Still better then the fool in office right now. Of course Mickey Mouse would be better then the fool in office right now.
Click to expand...

So who are you representing in this cartoon drama???...Goofy?
Click to expand...

Goofy would be better. Bozo!
Jun 29, 2012 #7

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AmericanFirst Gold Member

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Leweman said: ↑

What was Obama's record like when he ran a company? Ohhhhhhhhh my bad.
Click to expand...

No one would know, they would be sealed like the rest of his records.
Jun 29, 2012 #8

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HUGGY I Post Because I Care Supporting Member

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Leweman said: ↑

What was Obama's record like when he ran a company? Ohhhhhhhhh my bad.
Click to expand...

What was Bush's? Maybe running a company isn't the best qualifier. Also..Romney didn't "run" Bain by himself. He had a lot of help. It's not like he "rose through the ranks" displaying brilliance that placed him in charge either. Romney had money..Romney used that money..which he never earned by working, to set up his position at Bain.
Jun 29, 2012 #9

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ABikerSailor Platinum Member

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Leweman said: ↑

What was Obama's record like when he ran a company? Ohhhhhhhhh my bad.
Click to expand...

Countries shouldn't be ran like companies.

Why? A company only looks out for it's shareholders, but a government is supposed to look out for EVERYONE.

Besides.............all of the "job creation" that Romney has done is break up companies and send jobs overseas, both with Bain Capital, and he even outsources MA jobs to India while he was governor.

How is Mittens gonna deal with China? Sell the US out.
Jun 29, 2012 #10

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ABikerSailor Platinum Member

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HUGGY said: ↑

Leweman said: ↑

What was Obama's record like when he ran a company? Ohhhhhhhhh my bad.
Click to expand...

What was Bush's? Maybe running a company isn't the best qualifier. Also..Romney didn't "run" Bain by himself. He had a lot of help. It's not like he "rose through the ranks" displaying brilliance that placed him in charge either. Romney had money..Romney used that money..which he never earned by working, to set up his position at Bain.
Click to expand...

Didn't Jr. run almost every company he headed into the ground, even the baseball team?

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