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Report: Bain Supported Outsourcing Under Romney

Report: Bain Supported Outsourcing Under Romney

Bain Capital invested in a series of firms that outsourced jobs during the time Mitt Romney was involved with the company. According to a report in the Washington Post, the companies Bain invested in specialized in outsourcing jobs to low-wage countries such as China and India.

Romney has in recent months criticized President Barack Obama for allowing American jobs to be outsourced.

“They’ve been able to put American businesses out of business and kill American jobs,” Romney told workers in February, according to the Post. “If Iím president of the United States, thatís going to end.”

But according to the report, Bain under Romney was involved at the beginning of the trend toward outsourcing, when the process began to accelerate.

Among the companies Bain invested in was Corporate Software, Inc., a company that built overseas call centers for companies like Microsoft.

The Post also reported that Bain encouraged companies it invested in to take advantage of the outsourcing trend.

The Obama campaign ripped Romney’s record, Obama adviser David Axelrod said in a tweet that Bain’s actions under Romney amounted to “breathtaking†hypocrisy.” In a conference call with reporters, Axelrod expanded on his statement.

“It’s particularly egregious when you try to repackage yourself as someone who’s going to be tough on countries that you sent jobs to,” Axelrod said.

The Romney campaign tried to limit the damage. Romney spokesperson Andrea Saul said†that the report was “fundamentally flawed,” because it “does not differentiate between domestic outsourcing versus offshoring.”

Offshoring jobs does not necessarily mean an American job was lost in the process. It just means that jobs were created overseas, rather than in America.

Saul added, “Mitt Romney spent 25 years in the real world economy so he understands why jobs come and they go.”

The danger for Romney is that this report will convince people that Romney definitely knows how to make jobs go. It also seriously dents Romney’s claims that he created jobs as head of Bain Capital. While Romney undoubtedly created wealth, it becomes hard to argue you have a record of creating jobs when you’ve created them overseas.

Obama evidently agrees; in a speech at Hillsborough Community College in Florida, Obama said, “Tampa, we donít need an outsourcing pioneer in the Oval Office.†We need a President who will fight for American jobs and American manufacturing.† And thatís what my plan†will do.”

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246 comments

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10:44AM PDT on Jul 4, 2012

Another point for not liking Romney.......he talks out of both sides of his mouth. He has ruined more companies over his career and that equals job death.....all of those employees need to stand up and state their names and where they worked before Romney bought the company and sold it!

9:25AM PDT on Jun 28, 2012

It's common on discussion forums for those not intellectually equipped for civil discourse and or of weak position to fill their void with name calling and personal attacks

As to the subject at hand. The quick buck, yet short sited practices of supporting "low prices always" by "out sourcing" and in most cases "off shoring" jobs soon deprives one of a customer base (employed people) to sell any product to at all.

A candidate that would champion this type of approach demonstrates a shallow and destructive thought process.

While there is really little to appreciate in the political profession overall, we are all faced with making a personal choice and currently here it would be that the current office holder get the same 8 years his predecessor had.

The oath of office is to "uphold and defend the constitution" , and Romney's campaign has been rife with promises to violate that oath in advance. Many have cheered that on , but either they have failed to read their own country's constitution or simply have no problem with constitutional subversion.

We've had more than enough subversion from both parties be it willful or salved in pragmatism

7:09AM PDT on Jun 28, 2012

Lee your dead wrong about everything. There is just one of me no more aliases. It's been so long since I first commented on this article, I have no idea what fact I quoted. Why bring Bush up? I couldn't stand that little shit and the same goes for Romney and Obama. They were and will be nothing but puppets for the banking elite. I like the NorbertVlasta profile but why couldn't you have come up with something more convincing? It's not fault because you started on me first. I'm not commenting on this again unless one of you people start name calling again. So behave yourself.

2:39AM PDT on Jun 28, 2012

Beth you all started all this by practically hanging me for my opinion on this article. Demeaning me for my opinion nothing more. You guys can't stand for someone to have a different opinion than yours so what do you do instead of agreeing to disagree, you hammer me sarcastic remarks. You all started it.

9:00PM PDT on Jun 27, 2012

And how unqualified he is to run a business, much less a country. It's so obvious that the trolls cannot defend him, I have yet to see a factual statement about his qualifications. Which is why they are so desperate to change the subject.

On the other hand (smirk) 10 year olds are always obcessed with sex.

8:34PM PDT on Jun 27, 2012

You're not bothering me, it's just "Take our the Troll Trash" week.

8:32PM PDT on Jun 27, 2012

baby boy claims he is single but has 6 children. Are you paying child support for all of them, or are they on the government dole.

8:29PM PDT on Jun 27, 2012

Press away It doesn't bother me but one thing for sure I'm damn sure bothering you Beth. The meow was meant to piss you off for your stupid avatar.

7:57PM PDT on Jun 27, 2012

flagged again baby boy. we keep pushing your buttons, and you'll be gone soon.

7:37PM PDT on Jun 27, 2012

A veteran of an imaginary war in an imaginary world in a video game? You just can't help sounding like what you are, a little mis-fit, anti-social, baby boy, in his mother's basement, pretending to be something he's not.

And you're not very good at it.

Isn't "meow" something a pre-teen girl would say?

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