'I'm sick to my stomach': anger grows in Illinois at Bain's latest outsourcing plan

[bigtree]

The shock of losing a precious job in a town afflicted by high unemployment is always hard. A foundation for a stable family life and secure home instantly disappears, replaced with a future filled with fears over health insurance, missed mortgage payments and the potential for a slip below the breadline.

But for Bonnie Borman – and 170 other men and women in Freeport, Illinois – there is a brutal twist to the torture. Borman, 52, and the other workers of a soon-to-be-shuttered car parts plant are personally training the Chinese workers who will replace them.

It's a surreal experience, they say. For months they have watched their plant being dismantled and shipped to China, piece by piece, as they show teams of Chinese workers how to do the jobs they have dedicated their lives to.

. . . Sensata (the plant where they work) is majority-owned by Bain Capital, the private equity firm once led by Mitt Romney, that has become a hugely controversial symbol of how the modern globalised American economy works. Indeed, Romney still owns millions of dollars of shares in the Bain funds that own Sensata.

Bain has declined to comment. But it has made a lot of money from owning Sensata, quadrupling its initial 2006 investment . . .

The anger towards Bain and Romney is palpable. Romney has become the target for the emotions of a community who built lives based on the idea of a steady manufacturing job: a concept out of place in the sort of fluid buy-and-sell world from which Bain prospers. "I didn't have a clue what Bain was before this happened," said Cheryl Randecker, 52. "Now when I hear Romney speak it makes me sick to my stomach."


read more: http://www.guardian.co.uk/business/2012/aug/10/illinois-workers-bain-outsourcing?newsfeed=true

[1StrongBlackMan]

1. They just can't help it ...

can't they.

I would imagine that the romney camp would have strongly suggested that Bain slow down it vulture sh!t until after the election ... since ... you know ... the Bain business model is on trial in this election.

But Bain is like, "I love ya, Mitt; but I gotta get that cake, man. And NOBODY is gonna stand between me and my cake, even if you tell me that your gonna give me the whole bakery tomorrow. Sh!tttt. My bonus is based on what I do today, not what might happen tomorrow!"

So the commercial with fresh actors writes itself.

[Angry Dragon]

2. I feel it is fair to talk about Bain today

Willard made mucho money from Bain, he set up the company to work the way he wanted, he still makes money from Bain today. He claimed that the way Bain worked was why he was qualified to be president.
Let Bain lead to the downfall of the Willard.

[pscot]

13. The campaign ads write themselves

They have to be called out on this garbage.

[Liberal_in_LA]

3. Romney's no longer with Bain but he established the culture there - created this ruthless company

[Sheepshank]

4. You know, this wouldn be happening if the Bain got their tax breaks!!!

oh wait, they already have it.

Let me rephrase, you know this wouldn't be happening if US workers would work for $2.75/hour.

[jpbollma]

5. I think Obama should go there.

[HughBeaumont]

7. Re: "if US workers would work for $2.75/hour." . . .

. . . what we consider to be total sarcasm and a joke is what Libertarians and Republicans for real consider to be a legitimate and reasonable argument - that we should abolish the minimum wage so companies can be free to pay their workers as little as they please.

[Skittles]

9. it would still happen

as long as America doesn't allow child labor

[LongTomH]

12. The Republicans are attacking child labor laws too!

Their dream world looks a lot like Charles Dickens London!

[Left Coast2020]

6. This is discusting.

Yes he should go there.

[Auggie]

8. Adding insult to injury

[railsback]

10. As long as Romney is taking money from Bain

He's involved. He can sit there and deny any involvement, but he's STILL MAKING MONEY OFF BAIN. Its like making money off a company selling underage kids to foreign countries and then shrugging your shoulders, saying 'hey, I don't control what they do - I just have stock'.

[bonniebgood]

11. Cheryr Randecker Needs your

Help. I say Cheryl and others in her district need to Help themselves first.
You get what you vote for.

Call your Republican Senator Kirk
Call your Republican House Rep. Don Manzullo, in Office since 1993
Ask your Majority Repug district (56% Republican) for help

http://www.homefacts.com/politics/Illinois/Stephenson-County/Freeport.html

Sad thing is: Majority in her district, If Obama himself saved their jobs, see GM
they would still vote for Romney.

I have NO SYMPATHY

[midnight]

14. Bain figures if G.E. can ship jobs to China so can they- Their is no loyalty, but you can be sure we

bailed these companies out with loads of tax dollars, and skilled workers when they needed it...

[cyberpj]

15. Just found this today after searching for it after someone sent me the UK article. Kicked it

for some more attention to any one else who missed it August 10th.

Wish Obama campaign could use this stuff in ads - not that easy to find when US papers don't cover it.

Thanks for posting it here.

[reformist2]

16. A tariff is needed on imports, in proportion to the labor-cost differential.

It's the only thing that will take labor-cost arbitrage out of the equation. Businesses cannot be trusted to do the right thing on their own.