Mitt Romney Invested Millions in Firms That Pioneered High-Tech Outsourcing

Mother Jones:

A government document shows that at Bain he held a $54 million stake in companies that manufactured electronics in China and Mexico for US firms.

Read the whole story at Mother Jones

Comments

[straight skinny]

07:07 AM on 08/03/2012

Back in 1992 I vaguely remember reading an article on the front pages of the NY Times and it was about "Reinvesting in America". It was a big deal back then. Interestingly, it was Senator Jay Rockefeller who was outlining a rather ambitious plan which involved billions of dollars of investments...when I remember more about the plan I will write more about it perhaps..it just seemed to be an interesting and very ambitious plan. Then, later that very day I met an old friend..gentleman was older than I am and about my late Father's age-actually a bit older,, at the time. He's gone now, but I seem to have vaguely remembered talking about the article and he was surprised how much on top of these things I was,,but that was then..and I still don't remember all the details. Anyway, he started to talking about the Roosevelt administration and a man by the name of Howard Ickes..think he was Roosevelt's Secretary of Commerce and architect of the New Deal too. I'm trying to recall why he brought him up and the article written on the front page of the NY Times. Must have been something real good for America..but still can't remember all the details. I'll think about it some more and if I have anything to add, I'll surely post on it. All I had to say really.

[Storyhill]

04:18 PM on 07/23/2012

Letters: Bain, Romney did a number on major manufacturer in Ohio

What happened to Cincinnati Milacron?

Milacron was raided by Bain Capital while Romney was the head of Bain Capital!

I was employed by Milacron for 30 years and worked my way up to VP of sales and service. During that time, Milacron was the largest machine tool company in the free world. It was over 100 years old and the world headquarters was located at 4701 Marburg Avenue in Cincinnati, Ohio, with factories in Worcester, Mass., South Lebanon, Ohio and Wilmington, Ohio. Total employment was about 8,000 worldwide.

Cincinnati Milacron was considered a vital defense manufacturer. We had regular meeting with the war college so they could determine our capacity to design and build machine tools to manufacture weapons. The following is a list of machine tools we produced to manufacture the following weapons.

1. Machining line to manufacture the hull for the ABRAMS (army battle tank).

2. Machines to manufacture the 120 mm gun tubes for the Abrams. The Abrams tank was the major weapon to defeat Iraqis forces in Desert Storm.

3 Milacron designed and manufactured the machining lines for the Army's Bradley fighting vehicle.

4 Milacron built the machines to produce the ammunition for the Abrams tank.

5. Milacron built the machines for 5-inch Navy ammunition.

6. Milacron designed and built machines to produce the cruise missile.

7. Milacron designed and built the largest machine to machine the wing spans for the C17.

8. Milacron designed

[FaceReality2]

10:15 AM on 08/07/2012

So what did Bain do to Cincinnati Milacron? It is still in existence, isn't it?

[No Mo O Care]

01:40 PM on 07/23/2012

....

The BAINERS are chasing another cold trail...
.

[oldandfoolish]

01:08 PM on 07/23/2012

I noticed a double talk. Romney has be claiming to have produced jobs but with Flextronics and Jaibil,, Bain was not directly involved in the running of the companies. Therefore, Bain was not responsible for outsourcing jobs. The truth is that Bain as a Hedge Fund never ran a company. It never created jobs and never decided to outsource job. Bain just made as much profit as it can using all tax write offs and loopholes. Its business was always to make money, not jobs.

[Omentum]

11:59 AM on 07/23/2012

Another crack in the dam

[Gestas]

11:41 AM on 07/23/2012

"SHOW US THE MONEY,MITT"....It's mostly money that you stole from the very people you want to vote for you...

[Omentum]

12:00 PM on 07/23/2012

I don't think we can handle it. We would succumb to all the loopholes

[Shouterguy]

10:47 AM on 07/23/2012

To say that Romney has no credibility on outsourcing is like saying that Jeffery Dahmer had an eating disorder.

[PERPLEXED IN TEX]

10:25 AM on 07/23/2012

Mitt Romney investing millions in firms that pioneered high-tech outsourcing and claiming not to be an outsourcer is the same as me sending money to al Qaeda and claiming not to support terrorism against America and our allies.

[One more Thing]

09:08 AM on 07/23/2012

Romney and his private equity investors are after personal empowerment at the expense of others and have no capacity for empathy.

[l78lancer]

02:18 AM on 07/23/2012

The scap on Mitt's ugly wound keeps getting ripped off every week with new revelations, making it nastier and much less likely to heal. He'd be better off just letting the sterilizing light of sunshine purge that infection by releasing his returns.

Otherwise, this just gets worse.

[kiran1207]

10:32 PM on 07/22/2012

mitt is so friggin patriotic so are those nonviolent sweet intelligent republicans, they always support righteous ways of life and equality for all.

[Gestas]

06:55 PM on 07/22/2012

Or as the Republicans will tell you..."See we told you he was smart."

[TruthResearcher]

06:09 PM on 07/22/2012

Anyone who still needs more information about Ro-money's past escapades and fabrications in order to be convinced that he is not presidential material, is either blind, deaf, dumb or all three, and you've hit the trifecta.

OBAMA 2012

[Shouterguy]

10:50 AM on 07/23/2012

Fanned.

[TruthResearcher]

11:19 AM on 07/23/2012

Back at cha' - F & F

[riverhouse]

05:52 PM on 07/22/2012

Romney has some 'splaining to do. I notice a highly suspicious reluctance on Romney's part, however. Time to call in Lt. Colombo.

[southingtonian]

06:14 AM on 07/23/2012

or IRS Inspector Derek Lester ;-)

[Joseph Ebanks]

03:18 PM on 07/22/2012

Occupy Wall Street, financial melt down, government bailout of banks, excessive CEO bonuses and now, America is on the road to possibly elect someone from the executive suite! If Romney is elected, the corporations will have pulled off a great victory that may produce minimum regulations for banks and access to further bailouts using tax payers money. Clearly, there is a movement to reduce social programs as a result f state and federal deficits, even to the extent of reducing police and fire fighter numbers. The desolving of unions, reduction in government employees bennifits, some teachers and others finding it more beneficial to apply for welfare rather than live off the meger income they have been reduced to, or, at the very least, having to subsidize their nome through welfare programs. The value of homes less than the mortgage held, wealth and a standard of living once enjoyed vanished.
If Romney is elected, Corporate America would have pulled off a great victory. His Bain track record speaks for itself and is clearly a demonstration of his leadership abilities. I would be very surprised if Corporate America allows Obama to raise more campaign funds than they are willing to contribute to secure the victory of a Corporate America Executive in the White House.