Bain Is Outsourcing Jobs to China As We Speak

Bain Capital is currently in the process of shutting down a profitable company and moving the jobs to China.  The final day is November 5th, the day before the election.  Mitt Romney, founder and former CEO of Bain continues earning millions from its operations.  He continues to have considerable influence at the firm.  As candidate for president he could speak out against this abomination.  He hasn’t.

Perhaps the most disturbing part of this video is the information that an American flag was taken down and replaced by the Chinese one.  Workers are forced to train their foreign replacements.  Equipment is being shipped halfway around the world in pursuit of higher profits.  This is vulture capitalism.

Mitt says he’ll “get tough on China.”

News & Notes August 3, 2012

A state Senator and a presidential candidate both had legal issues this week for vastly different reasons.  Dr. Jill Stein got arrested in Philadelphia.  The Green Party candidate for President was protesting the foreclosure crisis.  Sen. Jeff Piccola of Dauphin County had 14 ethics violations filed against him for legal work he did.  They include allegations of fraud and conflict of interest.  Is this why he decided to retire?

The Philadelphia Parking Authority is getting plenty of bad press lately and it isn’t just reviews of Parking Wars.  People appealing tickets to Common Pleas Court are winning so often Traffic Court is vacating their fines before the cases can be heard.  One which was heard struck down Traffic Court so PHA has decided to simply ignore the Common Pleas Court order.  I want to see PHA get booted on TV.

Harry Reid says a source told him Mitt Romney isn’t releasing his tax returns because he didn’t pay any taxes for ten years.  There has to be a reason the GOP candidate refuses to disclose his records.  Mitt says he’s calling the Senator out on his claim.  He can refute it quite easily actually:  show us your last ten years tax returns.  If he did actually pay taxes he can prove it.

I had lunch at KFC today to support a gay friendly company.  Others had kiss ins at Chick Fil A to protest the $5 million they’ve given to fight equality.  Vote with your dollars folks.  One lesbian donned a cow suit to protest CFA.   I rarely eat fast food and never at KFC but I made an exception today.

Other companies whose anti-gay policies are boycott worthy.  Gee, I do business with some of these, I’ll have to rethink that.

On the whole gay rights agenda, another story has come out about the Salvation Army and its homophobia.  I encourage people to never contribute to this hateful organization, even at Christmas.  Tell the bell ringers you don’t support hatred and bigotry.  This SA employee was fired after revealing she is bisexual.

If you’re going to defend “traditional marriage” please be properly informed about what that means.  

Mitt Romney: I Want An Apology

Mitt Romney demanded an apology from President Obama for saying he lied about his tenure at Bain Capital.  I want an apology, as a voter, for Mitt lying to me about it.  Why are we all so cavalier about allowing candidates like Romney to routinely lie to us?  If he wants an apology I do too.

The GOP presidential candidate said he left Bain in February 1999 and, so, cannot be held liable or accountable for the bankruptcies, layoffs and job outsourcing it did after that time.  This despite the fact he remained as sole shareholder, Chairman of the Board, President and CEO of the company.  I bet lots of business owners would like to shed all responsibility for the ills their companies did.  There are hundreds of Superfund sites, for example, whose corporate owners might want to take Romney’s example and wash their hands of their responsibility.

Conservatives are always speaking of their belief in personal responsibility.  Obviously Mitt Romney doesn’t believe in that core conservative principle since he wants no “retroactive” responsibility for the actions his company performed which hurt workers and the economy from February 1999 through 2002.

Now his campaign expert Ed Gillespie says he left Bain “retroactively.”  How stupid doe she take us for.  Oops, wait, that’ll probably be a good enough explanation for most voters.

It isn’t good enough for me however.  Romney lied to me and The Boston Globe exposed his lie last week.  Now, as a voter, I want an apology.

Romney Lied About Bain Tenure

SEC reports filed by Bain Capital prove Mitt Romney remained as CEO until 2001.  He claims to have left Bain in 1999 and thus cannot be blamed for tthe vulture capitalism exercised by his company after that time.  It is a felony to falsify SEC reports so which is Mitt guilty of:  lying to us or lying to the SEC?

The Boston Globe says he lied to us.

Romney has said he left Bain in 1999 to lead the winter Olympics in Salt Lake City, ending his role in the company. But public Securities and Exchange Commission documents filed later by Bain Capital state he remained the firm’s “sole stockholder, chairman of the board, chief executive officer, and president.”

As the presumptive Republican presidential candidate Mitt Romney has lied repeatedly to voters.  He lies so frequently fact checkers find it difficult to keep up with his prevarications.  Now he has been caught in the biggest lie of all:  when he severed ties to Bain.  As sole stockholder, Chairman of the Board and CEO Mitt was responsible for the hundreds of American jobs Bain shipped overseas or destroyed by wrecking companies for profit.  

He says he’s  a job creator based on his experience at Bain but facts say otherwise making this a key issue.  It is also a key issue because of what this says about his character.  If Romney will lie about this what won’t he lie about?  How can we, as American citizens, believe anything he would say as President?  How would the leader of any other nation?

Romney has refused to release tax returns covering the period and later which would provide voters with a better sense of his financial dealings, possible tax avoidance and complicity in the violations of U.S. laws.  If he insists he left Bain in 1999 then he violated federal laws in all of those SEC filings.  Each one would constitute a felony.

What’s more credible, that Romney would commit felonies by making false reports to the SEC or that candidate Romney would lie to avoid personal responsibility for his actions at the time?

Campaign 2012: Romney, Bain Outsourced Jobs

Mitt Romney turns out to be a job creator, for other nations and their workers.  The Washington Post revealed yesterday that Bain Capital, under CEO Mitt Romney, outsourced American jobs.

Bain is a legitimate election issue because it tells us what sort of man, what type of executive, Mitt Romney is and what to expect of a President Romney.  He says he is a job creator and so must establish his credentials as thus.  This makes this story devastating because it turns out his track record is not only one of vulture capitalism but vulture boss.  Bain owned forty companies, seven of which went bankrupt.  For the singular success of Staples there were too many other companies looted and extorted for private gain.

The fact Bain made money by displacing American workers with foreign ones is something every working person needs to know prior to entering the voting booth.

“They’ve been able to put American businesses out of business and kill American jobs,” he told workers at a Toledo fence factory in February. “If I’m president of the United States, that’s going to end.”

As usual Romney is talking out of both sides of his mouth.  While promising to reverse outsourcing to voters he did it as an executive.  What do we rely on words or actions?  Actions always are louder than words.  I often tell people rely not on what a politician says but what they do.  Romney will sell you out.

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.

Obama’s strategic adviser David Axelrod (a Pennsylvanian by the way) had this to say:

“Tonight’s story in the Washington Post exposed Mitt Romney’s breathtaking hypocrisy. He has campaigned all over this country, vowing that he would be an advocate for American jobs. But tonight we learned that he made a fortune advising companies on how to outsource jobs to China and India. Maybe that explains why, despite his campaign rhetoric, Romney continues to support tax policies that would reward companies who send American jobs overseas.”

News & Notes May 23, 2012

The Obama Bethlehem office had a good turnout for Harvey Milk Day.  Adrian Shanker, President of Equality Pennsylvania, spoke about the gains for the community from the Obama Administration.  Liz and Trish from the Pennsylvania Diversity Network were also there.  The Obama campaign launches its LGBT outreach with a conference call this morning.  In light of the medical marijuana crackdown how this impacts those living with AIDS is something which was not addressed on the call this morning.

Sen. Casey is under pressure to support marriage equality now that President Obama is on board.

Has Newark Mayor Cory Booker doomed any chance he had of gaining higher office.  He went on Meet The Press and criticized President Obama’s Bain Capital ads.  How is Obama using the issue different from his Republican rivals using it in the primaries?  This is a big deal and it is what he predicates his qualifications to be president on.  That demands examination.

The situation at Fukushima is getting dire.  Another earthquake now might jeopardize the lives of most people living in the northern hemisphere according to some experts.

There’s more data about why Tea baggers are so stupid:  they watch Fox News.  Of course this is a lifestyle choice so perhaps we can round them up, send them to electrified camps and wait for them to die.  That’s what Pastor Worley would recommend, I’m sure.

Speaking of Pastor Worley, now he’s saying that “forty years ago they would’ve hung (homosexuals), bless god, from a white oak tree.”  The problem with this is not only its bigotry but the ignorance from Worley that such things have happened.  How different is a white oak tree from the wood (faggots) used to burn gays alive during the Dark Ages or the fence to which Matthew Shephard was chained and left to die?  Having a pulpit is no excuse to exercise in hate speech.  Real people get hurt by things people like Worley say.

A new effort is underway to mandate that all state campaign finance reports be submitted electronically.  Pennsylvania may yet enter the 21st century in one way.  Fair elections require disclosure prior to election day.

Fox viewers are the least knowledgeable audience of any outlet, and they know even less about politics and current events than people who watch no news at all.

Marcellus shale drilling consumed 1.5 billion gallons of our precious water last year.  There was so much gas produced that there is now a glut on the market and prices for gas have collapsed.  Royalty checks are also on the decline and some landowners may see nothing for those well pads located on their property.  Imagine living with a drill rig going 24/7 and getting nothing for it?

Bill DeWeese’s vacation from prison was short lived.  He was ordered to return yesterday pending the outcome of his appeal.  The naughty former House Speaker has had all of his offices and staff removed.

One of the stains on the Obama record is his militant assault on legal marijuana in states which have legalized its use for medicinal purposes.  So much for him being a liberal, much less a socialist lefty.

Keystone Progress reports that all Pennsylvania Democrats have left ALEC.  Why were they there in the first place?

Obama Campaign Launches Romney Attack Ad About Bain

Last week the Obama-Biden campaign held a media conference call where they focused on their positive campaign compared with Mitt Romney’s negative one.  Now, a week later, they decided to abandon the Mr. Nice Guy approach with a two minute attack ad.  The subject is Mitt’s experience as CEO of Bain Capital and GST Steel Company of Kansas City.

Of course we all know Bain is going to be a major source of controversy in this campaign.  Romney touts his expereince there and with the Olympics as his qualifications to be America’s CEO.  Of course government and business are two entirely separate entities.  What’s good for a business isn’t necessarily good for government and vice versa.  Businesses exist for the benefit of their owners/shareholders.  Government exists for the good of the people (ALL the people).   Romney’s resume means his record is fair game and GST Steel is but one example of the way Bain operates.

Private equity firms such as Bain collect investments from people looking for returns on their money.  If you’re rich you give them money to invest.  They pool it all together and buy distressed companies.  Then they saddle those companies with massive debt by leveraging their assets.  This money is used to payback the investors via Bain.  Dividends and fees are paid by utilizing the funds gained from debt.  There is virtually no risk to the investors and Bain takes a 2% commission.  Unfortunately the company is saddled with a massive debt load which often leads it into bankruptcy.  Workers not only lose their jobs but also their pensions and health care.  Many wind up losing their homes.

This is why this was referred to as “vulture capitalism” by some of his fellow Republicans during the GOP primary.  It feeds of the corpses of dead companies and leaves skeletons in its wake while it gets fatter.

The real issue in this campaign is this:  would Romney use the same management tactics and take the same strategies he used at Bain in running the country?  Here’s how that would go:

First he’d borrow as much as possible on the country’s credit.  Then he’d use that money to pay his backers.  Then the country would go bankrupt leaving everyone else to pay the piper.  We’ve already seen this, in fact.  It is exactly what happened for thirty years under Ronald Reagan, George H.W. Bush and George W. Bush.  It led to a catastrophic global recession.

Why would we return the economic policies of Bain Capitalism?

News & Notes December 6, 2011

Sen. Dominic Pileggi won’t be jumping into the U.S. Senate race.

Michele Bachmann reacted stranglely to a simple truth told her by a young boy mature for his years:

On facebook Lehigh County Commissioner Scott Ott described this as “Leftist child abuse by cowardly parent. How Bachmann’s handling of this can be seen as anything but gracious, I’m not sure.”

Ott, who lives on the compound of a fringe religious sect, thinks it’s “lefty child abuse” to live with reality, to deal with reality and expect others to.

Mitt says he was a job creator at Bain Capital but the truth is the opposite.  Bain bought companies to raid the pension funds then gut and destroy them.  He made a fortune throwing hard working middle class workers out of their jobs.

Sarah Palin has been found guilty in yet another ethics conundrum.  Her defense fund must return $386,000.

For all of you expecting to party the entire year of 2012 in anticipation of the Mayans’ prediction of the end of the world might first want to read this.

Jerry Sandusky went to dinner with one of his former victims.  Police gave the young man permission and it appears the alleged child molester sought to influence his victim yet again by taking him to dinner and convince him it was all for his own good.  The creep never quits.

Here’s a bit of raw truth for all the believers out there:  churches use fear to control you:

Republicans passed voter ID laws here and elsewhere seeking to eliminate a problem which doesn’t exist.  The real problem they had was Democrats voting so they passed laws to keep them doing so.  Of course poll taxes are unconstitutional so they said all you need is a state issued ID card they’d pay for.  What they forgot was how some folks don’t have birth certificates required for those ID’s.  Heck, I never had mine until a couple years ago.  Lots of people don’t have theirs and that costs you money, ergo a poll tax.  For this woman in Wisconsin it means $200 in order to vote.  How, for example, are senior citizens living in nursing homes going to get to a DMV for an ID?

Tom Corbett may be engaging in corruption with his privatization task force.  He has hired an investment firm to identify targets.  Any guesses on which investment firm might profit from these activities?