Romney: Outsourcer-in-Chief

Obama campaign’s latest ad:

The Washington Post story referred to is here, and says:

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….

While Bain was not the largest player in the outsourcing field, the private equity firm was involved early on, at a time when the departure of jobs from the United States was beginning to accelerate and new companies were emerging as handmaidens to this outflow of employment.

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….

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4 Responses to Romney: Outsourcer-in-Chief

  1. Bob Allen says:

    I thought that Boy George III (Washington – George I; Pappa George – George II; and America’s own George III – Boy George) lead the outsourcing thingy with outsourcing lots of Army stuff during the Iraq deally-bop, while looking for Weapons of Mass Destruction !!!!

  2. BrianX says:

    My sister is a teabagger-lite and I don’t think she really knew what to make of it when I told her that if Romney had an Italian last name, the kind of thing he did at Bain Capital would get him sent away for racketeering.

  3. itzac says:

    Bob Allen, different kind of outsourcing. The DoD has taken to hiring contractors to do most non-combat work, which used to be done by reservists. Rachel Maddow’s book, Drift, describes the whole practice and its purpose in great detail. Very much worth the read. And she reads the audio book, which is awesome.

  4. Bob Allen says:

    Outsource is outsourcing – be it a different kind or not !!!!

    I have a friend who was stationed in Iraq – and the outsources placed gravel around all of the temporary housing that they built for the army – so when a mortor shot came into the housing complex – ALL of the gravel became shrapnel !!! Good move on the part of the outsourcers !!!!

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