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Romney: An Outsourcing Pioneer


By John Martin - Posted on 22 June 2012

In an article in today's Washington Post, Mitt Romney's Bain capital is described as one of the first companies involved with supporting the outsourcing of American jobs overseas.

Bain played several roles in helping these outsourcing companies, such as investing venture capital so they could grow and providing management and strategic business advice as they navigated this rapidly developing field.

...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.

...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.

If you're the founder of a venture capital firm and you play by the rules and you make a ton of money, more power to you, but that doesn't mean you should become President of the United States.

People like Romney equate economic success with the success of companies, not the success of individuals. A Romney Presidency won't care about whether the median income is going up, or the ability of regular Joes to improve their lot in life. For Romney, if companies are doing well, then the economy is doing well. Period. That's the danger of having this guy in office.

NOw if Dems will follow up on this in gradual detail, the way Republicans would. "Outsourcing" is fine... but how about researching a link to 500 American jobs to Japan by one investment, 300 American jobs to INdia in another investment. (Obviously I don't have specifics but if there is documentation that jobs were "outsourced" then some number of them were outsourced to various places.

What will happen, of course, is Democrats will not find more direct language, nor will they figure out how to make one "parent" story (The Post Story) reproduce offspring so that it stays in the news and, ideally, grow and multiply as an attack point/critique of Romney.

Would love to see... or would love to see Dems outsource their messaging operation to a better one.  Most of all, I would love to be proven wrong.

 

Tom that sounds good!--- I hope the Democrats  can research and find out how many jobs were outsourced overseas to different Countries tracing from when Romney was involved. But I dunno?? Lol do you think they’re smart or motivated enough to do it?? lol ----I wonder where are the Obama surrogates?? I know Biden, the first lady and President Clinton were out on the stump for a while but where is Minority leader (is the title right? Lol)  Pelosi at?--- Even thou Cory Booker stuck his foot in his mouth but I want to see him on the stump for the President!! Where is Governor Deval of Massachusetts??--- I don’t know when they will hit the stump but I hope sometime soon because the election is getting close.

Remember my dearly beloved RFO, when I use the word Republicans, I am not talking about ALL republicans; I am referring only to the extreme bunch on the right. I know all republicans are not irrational and I know all democrats are not RATIONAL lol----Au revoir mes amis lol!

Stephanie Cutter ... Yes! we got his back

Tom-I agree that Democrats can't let this story go. While Bain/Romney's business experience has fizzled out of the national news unfortunately, I am pleased that Team Obama and Super Pacs have been running Bain ads non-stop in battleground states and recent polls show it is truly working and taking a toll on Romney. Tom-exactly what you predicted would happen if they didn't wimp out! Pres. Obama has increased his lead in battleground states since running the ads/making Bain an issue and Romney's favorable ratings are down (according to NBC/WSJ poll and Quin.) Romney thought they could persuade Obama, the media and the American people that Bain was a non-issue/non-story and was unfair to highlight negatively. Yep-it was anti-Capitalism! Well, the media fell for it but luckily Pres. Obama and the American people think it IS an issue and won't let it go so easily. I saw reports that Romney was caught "flat footed" on this and is on defense, putting out a rebuttal to the Washington Post story and trying to get WaPo to retract their story. But Washington Post stands by the story and has facts on their side. So Romney doesn't know what to do. If he makes a big deal of it trying to defend himself, he puts Bain/his outsourcing record front and center and allows more fact-checkers to question him, thus keeping it in the news. . If he stays mum, people will only hear the Obama narrative-the accurate one which reminds people why this guy should NOT be president!

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