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Wednesday, October 24, 2012

Bainport: Protesters Arrested Include Jesse Jackson At Sensata

Bainport, Ill. — The Rev. Jesse Jackson was among 14 protesters arrested today following a march onto the property of Sensata Technologies, the company owned by Bain Capital. The factory is in the final stretch of shutting down for good while shipping its 170 jobs to China. Sensata employees in China can expect to be paid $1 an hour to work twelve-hour shifts.

Bain Capital has become the symbol of economic terrorism in the US. Its founder and former CEO, GOP presidential candidate Mitt Romney, is largely credited for developing Bain's profit model of buying up American companies, loading them with debt, harvesting their assets and then filing bankrupcty or in Sensata's case, shipping jobs overseas. Sensata however was very profitable posting a net income of $6.5M and $130.1M during full year 2011 and 2010 respectively. Both 2011 net revenue and Adjusted net income represent record levels for the company.

Here is what Jesse Jackson had to say about the events taking place in Bainport...

Journal Standard Excerpt:
“There is a war going on today for the soul of our nation,” Jackson said. “We’re at the heart of that war. We have a military surplus; the Chinese have a trade surplus. We have the guns, they have the jobs. It’s not a good trade off. There is something painful about this struggle. Here you are, you workers who have paid the dues, you all sit here as veterans of foreign wars, sit here as hard working, taxpaying, church going citizens. It seems that your best is not good enough and the policies are not fair.” A large crowd gathered at the Sensata plant and chanted “no justice, no peace” and “we will never be defeated.” Police then began arresting people. more>>>


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