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'I'm sick to my stomach': anger grows in Illinois at Bain's latest outsourcing plan

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'I'm sick to my stomach': anger grows in Illinois at Bain's latest outsourcing plan

Post by tiredlady on Fri Aug 24, 2012 11:16 pm

Someone told me about this. Is it in the right forum?

"The Sensata plant in Freeport is profitable and competitive, but its majority owner, Bain Capital, has decided to ship jobs to China – and forced workers to train their overseas replacements"

http://www.guardian.co.uk/business/2012/aug/10/illinois-workers-bain-outsourcing?goback=.gde_53791_member_150712647

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Re: 'I'm sick to my stomach': anger grows in Illinois at Bain's latest outsourcing plan

Post by elvis44102 on Sat Aug 25, 2012 4:01 am

we have to get this news from a UK website.....hmmm....

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Re: 'I'm sick to my stomach': anger grows in Illinois at Bain's latest outsourcing plan

Post by MaryKay on Sat Aug 25, 2012 8:18 am

I agree elvis, it's interesting that money can buy a lot of air time and also buy a lot of "no air time". Rich told me he actually heard a "blip" on this one night at like 4am on the Bloomberg News channel, but it died really quickly.

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Re: 'I'm sick to my stomach': anger grows in Illinois at Bain's latest outsourcing plan

Post by need_a_break on Sat Aug 25, 2012 9:51 am

If you do a search of Bain Capital on that site, you will see that Bain Capital purchased an Australian accounting software company for a billion dollars. This company has a lot of money. So they can afford to put one of their own in the White House.

What some tax experts were able to piece together from the smoke and mirrors of the partial release of Bain's financial papers by Gawker.com, Bain Capital is based in the Cayman lslands so foreign investors can avoid paying taxes they owe to the U.S.

A very attractive investment for foreign investors. From The Guardian story we see, Bain may optain a profitable company through aquisition or merger. Borrow large sums of equity from it. If the company is not bankrupted, in the guise of saving money, the jobs are outsourced. Not only are foreign workers trained as replacements, all intellectual property goes with it, was well. Being based in the Caymans, these companies can still be called U. S. companies that can enjoy tax breaks and to add insult to injury, they can claim to add jobs even though these are low paying jobs going to foreign workers. Bain Capital is like a vampire to the U.S. free enterprise system.

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Re: 'I'm sick to my stomach': anger grows in Illinois at Bain's latest outsourcing plan

Post by Guest on Sun Aug 26, 2012 3:11 pm

Sounds familiar, when Romney was running for Ted Kennedy's seat stories like this were popping up...and he was active ate bain at the time. I can't believe people would even consider this man for president. I hope these people keep telling their story and that someone in MSM has the balls to report on it constantly. It's a reminder of what this country has become and why so many people's lives have been destroyed.

I don't know about anyone else, but I do not want this man at the controls in such a powerful position. A romney presidency would further the inequality problem, among other things. Especially being coupled with Paul Ryan, of all people. Crying or Very sad

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Re: 'I'm sick to my stomach': anger grows in Illinois at Bain's latest outsourcing plan

Post by snday on Sun Aug 26, 2012 11:33 pm

i agree with you.

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Re: 'I'm sick to my stomach': anger grows in Illinois at Bain's latest outsourcing plan

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