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Romney’s Bain Capital invested in companies that moved jobs overseas

Discussion in 'Political Issues' started by Flintlocker, Oct 20, 2012.

  1. Flintlocker

    Flintlocker

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    http://www.washingtonpost.com/busin...obs-overseas/2012/06/21/gJQAsD9ptV_print.html

    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.
     
  2. countrygun

    countrygun

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    He ran a company that made a profit.

    That's something Obama has never experienced
     

  3. Rooster Rugburn

    Rooster Rugburn Got Pignose?

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    Would you prefer they shut the business down completely?
     
  4. Flintlocker

    Flintlocker

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    So did Bernie Madoff and Ken Lay.

    On a spectrum of business, from building a company from the bottom up with employees like family -to- Gordon Gekko style vulture capitalism, where would you say Romney lies?
     
  5. W420Hunter

    W420Hunter

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    Yea b/c liberals jacking up corporate tax rates rates had nothing to do with it right? You toss in the union albatross around there necks and it is a easy choice.
     
  6. Flintlocker

    Flintlocker

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    That's what he did with GSK Steel. He bought it with loans, loaded it with debt, raided workers pensions then parted it out.
     
  7. Flintlocker

    Flintlocker

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    So, how is Romney going to get tough on China now?
     
  8. W420Hunter

    W420Hunter

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    Or he bought it, found out he could not save it and then did what ever he could to try to get his money back?
     
  9. countrygun

    countrygun

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    Ohh liberal envy and hatred of the successful.

    They made a profit and did quite well keeping other businesses running. a business wasn't viable big deal.

    You can't even make an intellectual argument against Bain, just emotion.

    I for one certainly hope that Romney brings some of that savvy to the White House with him and trims down the Government to rid it of dead wood. Which is of course your biggest fear.

    The "Desperation Samba" is being performed by featherlicker for our entertainment.
     
  10. W420Hunter

    W420Hunter

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    See now we are on two different topics. We can do nothing to make china change there tax rates. We get tough on china by pressuring them into stopping there practice of currency devaluation in order to even out the trade deficit.
     
    Last edited: Oct 20, 2012
  11. Flintlocker

    Flintlocker

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    So, let's recap.

    I post an article that's well researched, informative and one that may prompt serious discussion from honest participants.

    You ignore the article and make a specious claim and reduce the issue to profits and losses.

    I make a rejoinder that points out other good profit makers and pose a more simple question that may be easier for you to answer.

    Then you claim I'm being anti-intellectual and emotional.

    I'd imagine that you think you're quite clever. Or maybe you're just working on some sort of 1,000 post a month quota. Do you get a free set of toenail clippers if you reach it?
     
  12. W420Hunter

    W420Hunter

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    Are you really calling the junk bond king who got rich off insider trading a "good profit maker"?
     
  13. Flintlocker

    Flintlocker

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    It certainly not entirely different. Romney, in his earlier days, made sizable profits sending jobs to China. Now he says he's going to crack down on the same, or at least similar, circumstances that allowed him to profit.

    Sure, we can pressure them to stop manipulating their currency. We might even see some success and they may open it up to be priced on world markets. But that does very little to address the core issues and trade imbalances involved. Really, this is just more window dressing from Romney in his years long quest to say just the right things to just the right audiences while being as vague as possible.
     
  14. W420Hunter

    W420Hunter

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    And you still skip over the fact that it is tax rates that make it smarter for them to move over seas. Tax rates that the left has pushed for. Tell me what did Obama do in his first term that put the screws to china?
     
  15. Flintlocker

    Flintlocker

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    If the only metric is making a profit, as Countrygun alluded to, then there's no other conclusion to make- he made profits, billions of dollars worth. The point I was trying to make is that there are other standards to evaluate.
     
  16. W420Hunter

    W420Hunter

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    There is a huge difference here he did it by braking the law. Romney broke no law.
     
  17. Flintlocker

    Flintlocker

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    Tax rates could be substantially lower, even zero in the case of overseas tech support, to make it more profitable to work from China in a completely laissez faire market. Tell me how Romney's 'exploitation' (for the lack of a better word) of these conditions for great personal profit, and to the detriment of 10's of thousands or hundreds of thousands of Americans, makes him the go to guy for the answer.

    An interesting sidebar: even Romney's bro Marco Rubio has something to say about Mitt's plan.

    Sen. Marco Rubio, R-Fla., on Tuesday said Mitt Romney’s policy toward China “could kick off a trade a war that would be bad for the economy."

    http://news.yahoo.com/rubio-agree-obama-china-currency-issue-190127937--politics.html
     
  18. W420Hunter

    W420Hunter

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    Wow way to pick and choice what you respond to. First I re-ask what Obama has done to be tough on china. And the fact that he is willing to make the changes to fix the system makes him the right choice. And where did this hole "bro" Rubio come from?:dunno:
     
  19. happyguy

    happyguy Man, I'm Pretty

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    And so has our U.S. Government under Barak Obama.

    Well, at least some of the ones that haven't gone bankrupt have moved jobs overseas.

    Then of course there are the stimulus funds (taxes you and I pay) that went directly to overseas companies.

    Regards,
    Happyguy :)
     
    Last edited: Oct 20, 2012
  20. Sam Spade

    Sam Spade Staff Member Lifetime Member

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