FactCheck.Org: No Evidence Romney Shipped Jobs Overseas

Some interesting facts have been exposed about a few of those Obama Campaign ads that seem to "attack" Mitt Romney on supposedly shipping jobs overseas while he was at Bain Capital.

A deeper analysis by FactCheck point to possible 'exaggerations' by the Obama Campaign !!

It seems that Romney may not have been at Bain Capital when all this happened.

And it looks as if the Obama campaign may have in fact "jumped the gun" and took an article from the Washington Post at face value. The article was soon discredited as it turns out


from FactCheck.org -- June 29, 2012

The president's campaign fails to back up its claims that Romney 'shipped jobs' overseas.

Obama accuses Romney in a series of TV ads of being a “corporate raider” who “shipped jobs to China and Mexico,” asking if voters want to elect an “outsourcer in chief.” But some of the claims in the ads are untrue, and others are thinly supported.

Bain Capital, the venture capital firm founded by Romney in 1984, is the focus of the Obama campaign’s attacks. There is no question that Bain invested in some companies that helped other companies outsource work and that some of that work went overseas. That was the core business for Modus Media and SMTC Corp. — two outsource companies featured in a June 21 article in the Washington Post that has been the basis of recent Obama TV ads. Bain also invested in U.S.-based companies that sold goods manufactured here and abroad, and some of those companies closed U.S. facilities and eliminated U.S. jobs.

But after reviewing numerous corporate filings with the Securities and Exchange
Commission, contemporary news accounts, company histories and press releases, and the
evidence offered by both the Obama and Romney campaigns, we found no evidence to support the claim that Romney — while he was still running Bain Capital — shipped American jobs overseas.

read the evidence in the story


Obama’s ‘Outsourcer’ Overreach



2nd story from Breitbart -- 30 Jun 2012

FactCheck.Org keeps most of its focus on the Obama campaign's ads and statements, but you can also read this as a repudiation of the Washington Post's now discredited reporting

The evidence is now irrefutable. The Post and the Obama campaign not only coordinated an attack against Mitt Romney, they coordinated a false attack against Mitt Romney.
No Evidence Romney Shipped Jobs Overseas

Did the Obama Campaign "Fib" ?

Well, not only was Romney not at the helm at that time,Obama's "Job Czar" is going global, as he has been, forever as GE CEO:
answers.yahoo.com...

And forget about that little "tax" hole G.E. slips through. It's called Big Business accounting.

Warren Buffet seems to enjoy it too.
www.theblaze.com...
(Forget it's a Beck sight)

Errrr I didn't know Buffet is Obamas economic guru too?
thehayride.com...
And? Canada is pissed at the turn around on Keystone and Buffet profits?


And I don't like Romney either. Pretty spineless IMO.

But Obama hypocrisy is right in our faces and that's that.

[96] In his 2010 book The Buyout of America: How Private Equity Is Destroying Jobs and Killing the American Economy, Josh Kosman described Bain Capital as "notorious for its failure to plow profits back into its businesses," being the first large private-equity firm to derive a large fraction of its revenues from corporate dividends and other distributions. The revenue potential of this strategy, which may "starve" a company of capital,[97] was increased by a 1970s court ruling that allowed companies to consider the entire fair-market value of the company, instead of only their "hard assets", in determining how much money was available to pay dividends.[98] In at least some instances, companies acquired by Bain borrowed money in order to increase their dividend payments, ultimately leading to the collapse of what had been financially stable businesses.[48]

Source: en.wikipedia.org...

Some of Bain Capitol's Partner's
Silver Lake Partners, TPG Capital, Goldman Sachs Capital Partners, Kohlberg Kravis Roberts, Providence Equity Partners, and The Blackstone Group.
Source: en.wikipedia.org...

I'm wondering if it's wise to let this fox (Romney) into the chicken coop? What Bain Capitol is about is best summed up by Ralph Nader:

The former “private equity” capitalist touts his experience in creating jobs as the reason for voters to choose him. Read “The Buyout of America” by Josh Kosman to really understand how these corporate strip miners arrange leveraged buyouts, load their acquisitions with large debt, drain off their borrowed dividends, lay off workers and often bury firms in bankruptcies after they have been sucked dry.

Stage Stores, Damon Corporation, Ampad, GS Technologies, Dade Behring, DDi and KB Toys all filed for bankruptcy after being acquired by Mr. Romney’s Bain Capital.

Source: nader.org...
Source: buyoutofamerica.com...

In other words..He is and has been part of the problem..Mergers and Acquisitions are used as a way to suck the life and the cash out of American Companies..read the Wiki article..he's a Billionaire and couldn't care less about people..it's about corporations which he and some of those trading partners I listed above are why we are where we are today...

reply to post by xuenchen


It doesn't matter if Romney himself didn't ship jobs overseas, he and the republicans have continued to rally for major tax cuts to corporations that continue to ship jobs overseas. The excuse that tax cuts prevent jobs from being shipped overseas has already been played and the last few years proves otherwise.

We should be rewarding businesses that demonstrate that they are keeping jobs here, we should be keeping small businesses alive. However, the Republican way is that everybody get's a tax cut regardless, and we have to all hope that the money will magically trickle down.

Originally posted by Southern Guardian
reply to post by xuenchen

 

It doesn't matter if Romney himself didn't ship jobs overseas, he and the republicans have continued to rally for major tax cuts to corporations that continue to ship jobs overseas. The excuse that tax cuts prevent jobs from being shipped overseas has already been played and the last few years proves otherwise..

Well, it matters if the Obama campaign is running ads saying he specifically did, and then cite sources that dont back up their claims, as appears to be the case here.

Outsourcer-in-Chief

Originally posted by justinsweatt
Outsourcer-in-Chief

Good find !!

He did so even as, the Washington Free Beacon reports, Team Obama spent nearly $4,700 on services from a Canadian telemarketing company called Pacific East between March and June. The Obama campaign also paid a call center in Manila, Philippines, $78,314.10 for telemarketing services between the start of the campaign and March.

Few people remember an August 2010 report at InformationWeek.com about the U.S. Agency for International Development, a federal agency run by a hand-picked Obama appointee, launching a $36 million program to train workers, including 3,000 specialists in IT and related functions, in South Asia.

Originally posted by Southern Guardian
reply to post by xuenchen

 

It doesn't matter if Romney himself didn't ship jobs overseas, he and the republicans have continued to rally for major tax cuts to corporations that continue to ship jobs overseas. The excuse that tax cuts prevent jobs from being shipped overseas has already been played and the last few years proves otherwise.

We should be rewarding businesses that demonstrate that they are keeping jobs here, we should be keeping small businesses alive. However, the Republican way is that everybody get's a tax cut regardless, and we have to all hope that the money will magically trickle down.

Do you not realize that companies are sending those jobs overseas in part because we tax the crap out of them here? Do you think doing nothing will bring those jobs back? Has Obama brought them back? Will raising taxes do it? Its easy to point fingers isnt it?

Originally posted by TheTardis


Do you not realize that companies are sending those jobs overseas in part because we tax the crap out of them here? Do you think doing nothing will bring those jobs back? Has Obama brought them back? Will raising taxes do it? Its easy to point fingers isnt it?

You know what will bring the jobs back? People being willing to work for the same wages those companies currently pay in China. American consumers have outsourced their own jobs, every time they buy a product from made in China. Also, have you seen what unfettered expansion of business has done to China's environment? Those areas will be a toxic dump causing problems for generations to come. You can keep those jobs, China.

Originally posted by TheTardis
Do you not realize that companies are sending those jobs overseas in part because we tax the crap out of them

Companies ship jobs overseas because of the slave wages and lack of laws in countries concerning treatment of employees. Since the 80's we've cut a large chunk of the taxes that we use to charge to companies. Funnily enough, with the Reagan tax cuts in the 80's came the start of outsourcing. Taxes are nothing, and cutting them in the hope companies will have a change of heart is naive.

You want to know what will help with limiting outsourcing? By rewarding businesses that employ american citizens, not illegals, not outsourcing. Your suggestion is that we should just continue to hope the wealth will trickle down, get off it.

reply to post by stanguilles7



If the GOP/Republicans get their way; the USA will be a third world country with a third world economy, Working at what ever jobs are available for whatever the corporations want to pay. The Unions have been decimated and that's going to continue under Romney, osha will be disbanded along with the EPA; smog is good for ya. That being said...Obama is also a corporate shill as well.

God help us!!

I think I'll move to Mexico, central or South America where at least you can work around the corruption and even use it to your advantage if you know the language and lifestyle. adios!

Originally posted by olaru12
reply to post by stanguilles7

 

If the GOP/Republicans get their way; the USA will be a third world country with a third world economy, Working at what ever jobs are available for whatever the corporations want to pay.

It's not just the Republicans, man. Clinton is the one who pushed NAFTA through, after Bush Sr. wrote it. Both parties screw the american worker. And the american worker generally screws themselves, as well, when they spend money outside of their community.