How Bain Exported Illinois Jobs to China

Mitt Romney and his chums in and out of government represent nothing but crony capitalism
and the sell-out of the American people who made it possible for them to make money in the first place.



Dot Turner's Story

How Bain Exported Illinois Jobs to China

by Rev. JESSE L. JACKSON
CounterPunch
OCTOBER 11, 2012

Mrs. Dot Turner has worked at what is now Sensata Technologies in Downstate Freeport for 43 years. The company does sophisticated work creating sensors for automobiles. It enjoyed record profits last year. But not enough for its owner — Bain Capital — which is moving the jobs and the machinery to China.

When Sensata brought Chinese workers into the plant to be trained by those whose jobs they would take, the workers at Sensata protested. “When we started to demonstrate, they got those workers out of here,” Mrs. Turner told me.

SNIP...

“So when I hear Romney talking about creating jobs, he’s saying one thing and we are experiencing another. He’s creating jobs, but the jobs are in China, not here. And now under Bain, Sensata plans to give the managers and the supervisors their golden parachutes, but not the workers. I’ve been here 43 years, and they offer a lump sum payment for 26 weeks of salary. And the lump sum means taxes will take a big part of it.”

SNIP...

Mrs. Turner needs to be heard. The workers at Sensata are skilled workers. Their products are in demand. Their company is profitable and globally competitive. But what Texas Gov. Rick Perry correctly called “vulture capitalists” at Bain do is sweep in and ship the jobs overseas. Bain makes more money, but the families of the Sensata workers are at risk, the Freeport economy takes a hit and America loses more high-tech capacity to China.

CONTINUED...

http://www.counterpunch.org/2012/10/11/how-bain-exported-illinois-jobs-to-china/

Disclaimer: I voted for the author in a Democratic primary long ago. I'd do so again.