Romney-Tied Company Ships Jobs Overseas; Forces Lowering Of American Flag?

A Bain-owned company, Sensata, is closing a plant and shipping the 170 jobs to China. While Mitt Romney has absolutely nothing to do with Sensata’s decision regarding this move, he has about eight million dollars worth of Bain funds that control 51% of the company, and, as the workers have stated, could “make one phone call” and stop the whole thing.

The New York Times says this:

Mr. Romney remains deeply tied to business decisions like this. As Bain’s founder, he established its business model, which is to wring the maximum efficiency from a company for the benefit of Bain’s investors, even if that means closing plants, shipping jobs to China, and laying off American workers. That’s how private equity often works, and Bain has done it many times before, sometimes to the benefit of a company’s workers, and sometimes to their detriment.

When Bain first led a buyout of Sensata, in fact, it laid off hundreds of American workers and sent their jobs offshore. As the Times reported, the Labor Department spent $780,000 retraining some of the laid-off employees.

This shows that Mitt Romney’s business experience is of no use in a presidential office, but we’ve heard as much stated by Gingrich and others since Romney began his presidential bid.

The Times goes on to report the following.

In addition, Mr. Romney’s generous retirement agreement ensures that he continues to profit from the deals and decisions that Bain makes. He owns about $8 million worth of Bain funds that hold 51 percent of Sensata’s shares. If Sensata saves money by closing the Freeport plant, that could add money to Mr. Romney’s trust accounts, now or after the election.

Many conservatives want Mr. Romney to make a full-throated defense of these practices, and hope he explains to Americans that plant closings and offshoring are a natural part of capitalism and can have long-term positive effects for the economy.

It was also stated on that “The company recently made factory officials take down the American flag when they were forced to train their Chinese replacement workers, according to Tom Gaulrapp, with the United Steelworkers Union,” but I have been unable to confirm that as of this writing.

Mitt Romney’s business record is not positive. His time as governor is not positive. When will the other half of America wake up and realize that he is simply unqualified? He’s running on a smile and lies, and hopefully this November Americans will show their realization of it.

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