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Tuesday, July 31, 2012

Bain Sending 170 Jobs To China

The city of Freeport, a town of 26,500 people and just 20 miles south of the "open for business" Wisconsin stateline, is not looking forward to losing 170 jobs to China. The Freeport city council recently approved a resolution calling on presumptive Republican presidential nominee Mitt Romney to step in and save the jobs. The company outsourcing the jobs, Sensata, is owned by Bain Capital.

Huff Post Excerpt:
Romney maintains that he left Bain in 1999, even though multiple documents list him as having leadership roles with the company beyond that date.

Regardless of the date that he left, Tom Gaulrapp -- a lifelong resident of Freeport and 33-year employee of Sensata -- said that Romney still bears some responsibility.

"They used his business model," Gaulrapp said. "And the board of directors and most of the officers at Bain Capital were put in place by him. There's an ongoing debate over whether he actually left in 1999 or whether he filed wrong documents to the SEC. In either case, they're still using his business model. He's the one who taught them how to do this. These guys were put there by him. So you can say he doesn't run the day-to-day operations, but he's still at blame for the way they do business."

1 comment:

Democurmudgeon said...

Exactly. It's Bain's business model, supported and developed by Romney. It's funny how little this is part of the discussion.

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