The Sensata story could (and should) destroy Romney
Prince Of Dorkness
Posts: 3,763
Now we're absolutely sure that Mitt Romney lied in the first debate when he said he didn't know about "tax benefits of outsourcing."
On November 5th - the day before the election - A Bain-owned company called Sensata will close it's doors and all the jobs sent to China. But the most sickening part of the story is that the American workers are being made to train the Chinese workers who will be replacing them.
Yes... the workers from China have been flown to Illinois and are being trained by the very people who will be unemployed on election day. AND... they were forced to take down the American flag while the workers were there being trained.
And remember during the debate when Romney said he "never heard of a tax break for outsourcing?"
While that lying sack of shit pig uttered those words he was getting a tax break for sending Sensata to China.
This is what the American economy will be if Romney wins the election. It's HOW he got so rich. It's WHY he got so rich.
Remember the 47% video & the 'living' conditions at that factory in China he bought? Remember the wages? $23 a month.
If only Americans would be reasonable and work for, say $50 a month, and not ask for frivolous things like time off, pension plans... "feel they're entitled to food," he and his kind wouldn't have to close down these factories in the US.
Here is a video of Bonnie Borman, who has worked at the plant for 23 years, telling her story.
On November 5th - the day before the election - A Bain-owned company called Sensata will close it's doors and all the jobs sent to China. But the most sickening part of the story is that the American workers are being made to train the Chinese workers who will be replacing them.
Yes... the workers from China have been flown to Illinois and are being trained by the very people who will be unemployed on election day. AND... they were forced to take down the American flag while the workers were there being trained.
And remember during the debate when Romney said he "never heard of a tax break for outsourcing?"
While that lying sack of shit pig uttered those words he was getting a tax break for sending Sensata to China.
This is what the American economy will be if Romney wins the election. It's HOW he got so rich. It's WHY he got so rich.
Remember the 47% video & the 'living' conditions at that factory in China he bought? Remember the wages? $23 a month.
If only Americans would be reasonable and work for, say $50 a month, and not ask for frivolous things like time off, pension plans... "feel they're entitled to food," he and his kind wouldn't have to close down these factories in the US.
Here is a video of Bonnie Borman, who has worked at the plant for 23 years, telling her story.
Post edited by Unknown User on
0
Comments
what happened w/all that great consultation? approx 3 years later dhl america was bankrupt and exited the united states, leaving 12-15k american jobless, was it all bains fault? no dhl had some very incompetent execs (mostly the ones that hired bain in the first place)
i do realize romney was out of bain a few years earlier although ya never know by his carried interest income.
MGM Grand - Jul 6, 2006
Cox Arena - Jul 7, 2006
New Orleans Jazz and Heritage Festival - May 1, 2010
Alpine Valley Music Theater - Sep 3-4 2011
Made In America, Philly - Sep 2, 2012
EV, Houston - Nov 12-13, 2012
Dallas-November 2013
OKC-November 2013
ACL 2-October 2014
Fenway Night 1, August 2016
Wrigley, Night 1 August 2018
Fort Worth, Night 1 September 2023
Fort Worth, Night 2 September 2023
Austin, Night 1 September 2023
Austin, Night 2 September 2023
Today, in addition to Bain, our shareholders include mutual, pension and hedge funds as well asindividual investors.
Our customers are global and we have located our major business and manufacturing facilitiesnear them in locations around the world. Two-thirds of our revenues come from outside of theU.S. Over 75% of AoB’s revenues are generated outside of the U.S. Consolidation of AoBmanufacturing into our large manufacturing location closer to customers is key to the success of this business. We have long had a strategy of consolidating our manufacturing in larger sites andcurrently have business centers and manufacturing sites in 11 countries. In addition, the largemajority of our competitors are headquartered outside of the US.
That said, our largest technical and business development center is in Massachusetts where weemploy approximately 750 people overall including nearly 400 engineers and businessprofessionals out of 11,400 employees worldwide. Attleboro, Massachusetts is a major source of innovation for us and is our largest design center. We have approximately 9% of our people and45% of our global payroll in the U.S.As I stated earlier, we know these layoffs are very difficult for the people affected and we havemade efforts to ameliorate this. Despite less than two years of service with Sensata, werecognize many people have multiple years of service with Honeywell and reflect this in theirbenefits, offering at least 60 days formal notice, separation benefits, sponsored participation inthe Work Keys Program and other transition assistance.
I appreciate your comments regarding understanding the competitive pressure facing companiesin today’s global marketplace and I assure you that we strive to balance our duty to ourshareholders with our duty as corporate citizens, just as you strive to balance the interests of yourlocal constituents with that which is best for our country. Closing the Freeport facility is theright strategy for our business in order to deliver value to our shareholders and to support our global customers.
I hope this letter helps clarify our position and the circumstances concerning the move of operations in Freeport to other Sensata manufacturing sites. We welcome an opportunity to work with your offices or with other local leaders to assist in any other way with a smooth transition for the Freeport employees.
Sincerely,Thomas Wroe,
Jr.Chief Executive Officer
Sensata Technologies
He IS trying to stop this. If we can restructure the tax code to make American companies more competitive and profitable, these decisions will be different.
Because he owns some stock in the company he is to blame. Everyone better check your 401k and see if you could be blamed as well...
Nice spin.
Expect that plant WAS profitable and his obvious lie about not ever hearing about tax breaks for out sourcing is just plain wrong.
The president has been trying to stop that but the republican controlled senate won't let it come up for a vote.
Mitt Romney owns more than "some stock" in Bain. And this isn't the first time they've done this... Often with him at the helm.
its always about the shareholder. FUCK the people that actually create the value.
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
We're going to hire a bunch of desperate workers in China who'll sleep 9 to a room and work for $25 per month.
It's the American way. Cuz we sure don't want to socialism here!!
(don't like it? Well take some "personal responsibility" and get a job. In China, I guess.)
"Well, you tell him that I don't talk to suckas."
It's just starting to get some traction and most of the major news agencies have promised that they're investigating and will have full coverage this week.
People are made to do things all the time when they have jobs. I'm sure the workers could leave if they want. This is pretty commonplace, really. An ex company of mine closed a plant in Chicago and moved it to our state and the workers in Chicago helped train the employees here.
You're no better than the politicians and others you're calling out for distorting the truth. I'll bet that
...are those who've helped us.
Right 'round the corner could be bigger than ourselves.
You're just grasping on to the "made to train" part. Are you aware of what Bain Capital was doing when Romney was there? And if you are aware, do you think that makes him a good businessman?
And go where, exactly?
So... Your defense is "outsourcing tens of thousands of jobs to China and getting a big tax break for it happens all the time... It's no big deal." Wow. That's some nerve ya got, there.
Uh... So pointing out that Bain Captial bought out a successful American plant, outsourced the jobs to china and made the workers train their replacements is just as bad as Mitt Romeny claiming that his healthcare plan covers pre-existing conditions (it doesn't) and that he won't bring in a new abortion law(he will)?
Ok.
Well then I think you have just sacrificed your right to complain about anything the president says/does.
I was only addressing the part I quoted - which is that you said the workers were made to train the chinese workers. I say that's standard practice and they weren't really "made" to do it since they could quit if they choose.
My point is you're being as deceptive as the side you're so much against.
I don't support either candidate, but what I am really against is all the deception, lies and mis-information spread by the blindly faithful of either side.
...are those who've helped us.
Right 'round the corner could be bigger than ourselves.
So... Enlighten me.
Where am I being "deceptive?"
Using words like "made to" and "force" are deceptive. If the workers don't want to do it, they can quit. If they don't want to quit, then they train the new workers. What else would they be doing there? Just sitting around and collecting a check for doing nothing?
...are those who've helped us.
Right 'round the corner could be bigger than ourselves.
Liberals have gone absolutely insane after snorting bathsalts under the name of “Sensata.” Supposedly, Romney is responsible for what Bain does 12 years after he left it, and Obama is not responsible at all for 4 years of failed economic policy.
And what is their claim? That Romney’s blind trust has holdings in this company that is off-shoring jobs from Illinois to China.
For many sophisticated and wealthy investors, as well as for ordinary workers invested in pension funds, China is a part of any diversified investment strategy. President Obama, a former Illinois state senator, has as much as $100,000 in a state retirement plan that contains shares of Sensata Technologies, the same auto parts company controlled by Bain that is closing its Illinois factory.
http://nation.foxnews.com/obama/2012/10 ... jobs-china
Outrageous lies about Romney and Sensata.
The Twitterverse exploded tonight with rage over a company in Illinois called Sensata closing its doors and shipping its production to China. The big story isn't that the company is closing but that Liberals are actually trying to blame Mitt Romney for it based on ridiculous lies being pushed by the SEIU. No shocker that the SEIU would sink this low but it doesn’t say much about Democrats that they are so easily led to believe outrageous accusations without bothering to do a quick search on the internet to discover the facts. The myths that are being perpetrated and facts are dissected below.
MYTH: Mitt Romney owns Sensata.
FACT: Mitt Romney has nothing to do with Sensata. Bain Capital Investors have a 51.8% share of Sensata stock.
FACT: Romney actually transferred what stocks he did own in Sensata to charities.
MYTH: Romney makes Bain business decisions.
FACT: Romney hasn’t made business decisions at Bain for many years now. He and his wife Ann have a blind trust with Bain which means they have zero clue where their money is invested.
FACT: The key people running Bain Capital Investors are Joshua Bekenstein, John Connaughton, Paul Edgerly, Mark Nunnelly, Stephen Pagliuca, Jordan Hitch and Matthew Levin. It seems that the majority of these ‘key people’, who make decisions like closing Sensata, are Democrats who support Obama.
In 2008, Bekenstein gave over $200,000 to help Democrats get elected. He and his wife are listed as one of the Top Individual Contributors on OpenSecrets.org.
In 2010, Stephen Pagliuca ran against Martha Coakley in the Democratic primary for the special Senate seat election, the election that Scott Brown won.
In 2008, Jordan Hitch gave money to both the Obama campaign and to the Romney campaign.
In 2008, Mark Nunnelly gave thousands of dollars to Democratic candidates across the country, including Harry Reid.
In 2012, it was rumored that Matt Levin may speak at the Democratic National Convention. He also donates frequently to Democrats.
MYTH: Romney gets a tax break from outsourcing jobs to China
FACT: Romney doesn't own Sensata and the ‘tax break’ for outsourcing jobs itself is a myth. It’s a minor moving deduction and it’s miniscule.
MYTH: Romney can do anything to stop Bain or Sensata from making business decisions like shipping 170 jobs to China.
FACT: Romney cannot alter the decisions made by the people are actually running these businesses. He has zero influence on what these people choose to do with their business or employees.
MYTH: Sensata replaced the American flag with the Chinese flag at their plant in Illinois.
FACT: This lie is being perpetrated by people like left wing hacks at DailyKos. The photo they use as 'proof' is actually of the Sensata plant in China.
This ‘Bainport’ protest and hysteria is nothing but astroturf by the SEIU and the Occupy ‘rape tent’ crowd. While it is unfortunate that people will be losing their jobs, neither the SEIU, Occupiers or Democrats care anything about them. This is merely a ploy to paint Romney as some evil businessman who ships American jobs to China. What’s more amusing is that Obama has actually shipped jobs overseas with taxpayer funded stimulus money but there’s no protest over that from the SEIU.
It’s understandable for the employees to be upset but they are being used by Democrats as political pawns and it’s actually pretty reprehensible. If they want to direct their anger at Bain, they should direct it to the Democrats who are running it now. Of course, that wouldn’t really fit into the left wing agenda of lies and deceit now would it? Apparently the left will stop at nothing to defeat Romney but using Americans who are actually going to feel pain from this closure is egregious. Using these poor people as political pawns and lying to them shows the lack of character and morals of Democrats. It’s expected that unions and their Democrat lackeys will lie about Romney but it’s not fair to these workers or voters.
http://www.examiner.com/article/liberal ... ta-closure
Great Post!!
And if they DO want to quit, they will be ineligible for unemployment payments that some of them have paid INTO for over 25 years.
Mostly bullshit and half-truths. But hey... have your fun.
While it's true that Mitt Romney got some pretty big tax deductions for "donating" his shares to "charity" (the charity he donated them to is the Mormon "church" that took the money and built shrines to itself and sent teenagers around the world to recruit more people into his cult), THIS is the long-history of Romney and Bain...
They buy companies, bankrupt them and send the jobs overseas to China where workers will live in deplorable conditions and take $25 per month.
THAT is the kind of person you're supporting...
Romney and Bain secure the cooperation of their takeover targets by buying off a company's management with lucrative bonuses.
Once management is on board, the rest is just numbers... If the target company is worth $500 million, Bain puts down $20 million of its own cash, then borrow $350 million from an investment bank to take over a controlling stake.
But here's the catch.
When Bain borrows all of that money from the bank, it's the target company that ends up on the hook for all of the debt.
Yes... Mitt Romney made his tens of millions of dollars by borrowing money that others had to pay back.
If you want to read more about it, Matt Taibi did an excellent article about it.
THAT is the kind of person you want "creating jobs" and running the country? The kind of person who ushered in the economic face-plant that we've FINALLY started to recover from?
Really?
It's still a choice. Nobody was "made to" or "forced to".
You really refuse to see any grey area in pretty much any issue, right?
...are those who've helped us.
Right 'round the corner could be bigger than ourselves.
But never mind all of that. He's a businessman, see? Don't you want a businessman running our economy? It doesn't matter that he was a heartless bastard of a businessman. Taibbi hits another home run.
I suppose you're technically correct. But not much of a "choice." Kinda like telling someone "if you don't like the smell of my farts, don't breathe."
And... according to Ronald Reagan's budget director David Stockman, he wasn't a businessman at all... "he was a master financial speculator who bought, sold, flipped, and stripped businesses."
Not a businessman... a Vulture Capitalist.
http://www.thedailybeast.com/newsweek/2 ... drain.html
Not even close to the same thing.
...are those who've helped us.
Right 'round the corner could be bigger than ourselves.
Sorry.. We're talking about mitt Romney...
"If you don't like the smell of my farts, roll down the windows of the plane."