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Limbaugh Attacks Help Put Chevy Volt Workers Out Of A Job - Relentless attackson the Chevy Volt from Rush Limbaugh and Republican politicians have taken their toll, as General Motors has announced a five-week suspension in production of the range-extended electric car. Conservative enemies of clean energy and the Obama administration seized on isolated reports Volts with battery fires, calling the cars “Obama-mandated death traps.” Limbaugh even said GM was a “corporation that’s trying to kill its customers.”  These conspiracy-tinged partisan attacks have now cost American jobs, with 1300 workers temporarily laid off in the face of lower than expected demand for the innovative cars, even as gas prices rise. […] Oh, and about those attacks? After an investigation, the National Highway Traffic Safety Administration determined that the Volt is just as safe as any gasoline-powered vehicle on the road.

    image: early-onset-of-night

    Limbaugh Attacks Help Put Chevy Volt Workers Out Of A Job - Relentless attackson the Chevy Volt from Rush Limbaugh and Republican politicians have taken their toll, as General Motors has announced a five-week suspension in production of the range-extended electric car. Conservative enemies of clean energy and the Obama administration seized on isolated reports Volts with battery fires, calling the cars “Obama-mandated death traps.” Limbaugh even said GM was a “corporation that’s trying to kill its customers.”  These conspiracy-tinged partisan attacks have now cost American jobs, with 1300 workers temporarily laid off in the face of lower than expected demand for the innovative cars, even as gas prices rise. […] Oh, and about those attacks? After an investigation, the National Highway Traffic Safety Administration determined that the Volt is just as safe as any gasoline-powered vehicle on the road.

    — 2 years ago
    #news  #politics  #rush limbaugh  #chevy volt  #1300 workers laid off  #gm  #general motors  #american jobs  #volt is as safe as any gas-powered vehicle  #national highway traffic safety administration 
    Romney got rich by relocating American jobs overseas: let’s get back to Bain Capital
Mitt Romney’s financial company, Bain Capital, “invested in a series of firms that specialized in relocating jobs done by American workers to new facilities in low-wage countries like China and India,” the Washington Post reports. “During the nearly 15 years that Romney was actively involved in running Bain, a private equity firm that he founded, it owned companies that were pioneers in the practice of shipping work from the United States to overseas call centers and factories making computer components, according to filings with the Securities and Exchange Commission.” More details: “Bain played several roles in helping these outsourcing companies, such as investing venture capital so they could grow and providing management and strategic business advice as they navigated this rapidly developing field.” (via: Political Wire)
Charles P. Pierce points out:

This vast new Washington Post report about how Willard Romney and his money-chewing friends got really wealthy by investing in companies dedicated to shipping American jobs overseas is yet one more reason why the Obama campaign really shouldn’t have slacked off from tearing into Romney’s career at Bain Capital just because Cory Booker, and Ed Rendell, and Bill Clinton got nervous about it. It also should set off another spate of really remarkable lying from the Republican candidate over the next few days.
While economists debate whether the massive outsourcing of American jobs over the last generation was inevitable, Romney in recent months has lamented the toll it’s taken on the U.S. economy. He has repeatedly pledged he would protect American employment by getting tough on China.“They’ve been able to put American businesses out of business and kill American jobs,” he told workers at a Toledo fence factory in February. “If I’m president of the United States, that’s going to end.” 
Willard Romney — friend of the working man. In Shanghai.

Related (very!): John McCain: Sheldon Adelson is pumping Chinese money into Romney’s campaign

    Romney got rich by relocating American jobs overseas: let’s get back to Bain Capital

    Mitt Romney’s financial company, Bain Capital, “invested in a series of firms that specialized in relocating jobs done by American workers to new facilities in low-wage countries like China and India,” the Washington Post reports. “During the nearly 15 years that Romney was actively involved in running Bain, a private equity firm that he founded, it owned companies that were pioneers in the practice of shipping work from the United States to overseas call centers and factories making computer components, according to filings with the Securities and Exchange Commission.” More details: “Bain played several roles in helping these outsourcing companies, such as investing venture capital so they could grow and providing management and strategic business advice as they navigated this rapidly developing field.” (via: Political Wire)

    Charles P. Pierce points out:

    This vast new Washington Post report about how Willard Romney and his money-chewing friends got really wealthy by investing in companies dedicated to shipping American jobs overseas is yet one more reason why the Obama campaign really shouldn’t have slacked off from tearing into Romney’s career at Bain Capital just because Cory Booker, and Ed Rendell, and Bill Clinton got nervous about it. It also should set off another spate of really remarkable lying from the Republican candidate over the next few days.

    While economists debate whether the massive outsourcing of American jobs over the last generation was inevitable, Romney in recent months has lamented the toll it’s taken on the U.S. economy. He has repeatedly pledged he would protect American employment by getting tough on China.“They’ve been able to put American businesses out of business and kill American jobs,” he told workers at a Toledo fence factory in February. “If I’m president of the United States, that’s going to end.” 

    Willard Romney — friend of the working man. In Shanghai.

    Related (very!)John McCain: Sheldon Adelson is pumping Chinese money into Romney’s campaign

    — 2 years ago
    #class war  #income redistribution  #news  #politics  #unemployment  #vote!  #war on the middle class  #1. tax cuts for the wealthy  #2. austerity for the rest of us  #american jobs  #bain capital  #China  #India  #jobs  #Mitt Romney  #no jobs for you (in america)  #offshoring  #overseas  #plutocracy 
    Mitt Romney, the ‘outsourcing pioneer’, is the embodiment of transnational economics

“American business stopped caring about the political entity that is the United States of America a very long time ago. We have been propagandized repeatedly that the global economy was either the greatest thing that ever happened ever, or so unstoppable a force that the best our tired old democracy could do is get along within it the best it could. The basic questions of national sovereignty and corporate accountability were drowned out or brushed aside. Now, we have a presidential candidate who is a perfect product of that new transnational economic system. Willard Romney could be — hell, should be — the vehicle through whom we pass judgment on all of it.” — Charles P. Pierce
Related: Romney’s Bain Capital invested in companies that moved jobs overseas – The Washington Post
image: myundertaking

    Mitt Romney, the ‘outsourcing pioneer’, is the embodiment of transnational economics

    “American business stopped caring about the political entity that is the United States of America a very long time ago. We have been propagandized repeatedly that the global economy was either the greatest thing that ever happened ever, or so unstoppable a force that the best our tired old democracy could do is get along within it the best it could. The basic questions of national sovereignty and corporate accountability were drowned out or brushed aside. Now, we have a presidential candidate who is a perfect product of that new transnational economic system. Willard Romney could be — hell, should be — the vehicle through whom we pass judgment on all of it.” — Charles P. Pierce

    Related: Romney’s Bain Capital invested in companies that moved jobs overseas – The Washington Post

    image: myundertaking

    — 2 years ago with 13 notes
    #class war  #income redistribution  #news  #politics  #unemployment  #vote!  #war on the middle class  #american jobs  #bain capital  #corporate accountability  #global economy  #job creator (in shanghai)  #Mitt Romney  #national sovereignty  #off-shoring  #outsourcing jobs  #outsourcing pioneer  #Republicans  #transnational 
    A two-income family today is poorer than a one-income family was in the 1970s
“On several occasions, I have glibly referred to how it now takes two spouses working to equal the wages of a one-income family of 40 years ago. Unfortunately, that is now an understatement. In fact, Western wages have plummeted so low that a two-income family is now (on average) 15% poorer than a one-income family of 40 years ago.” — Jim Nielson | The Street
This death of the American middle class can be blamed on the Republican Party’s decades-long union busting efforts combined with men like Mitt Romney who run companies like Bain Capital for the purpose of creating wealth for the few, by laying off hundreds of thousands of American workers, who once earned living wages and benefits, who once shared in a company’s productivity and success. For decades now vulture capitalists have downsized and closed American companies, offering only low-wage replacement jobs to some of the workers they laid off, while outsourcing most of the formerly American jobs to countries like China and India. And we can also blame a tax code, won by a lobby of the wealthiest among us, that rewards corporations with deductions and loopholes and subsidies for taking American jobs to other countries, enriching a few while cratering our economy at home.
And the Republican Party tells us the One Percenters need more tax cuts (i.e. they need to hoard even more money?) to ‘create’ a few more jobs — tax cuts that would be paid for, by the way, by cutting programs and services that the rest of us depend on. It’s almost comical when you consider this fact: the average Fortune 500 CEO now makes 380 times more than the average worker, CEO pay has grown more than 127 times faster than worker pay over the last 30 years, and their pay increased last year. 
More, to these people, is never enough.
image: destroythegop

    A two-income family today is poorer than a one-income family was in the 1970s

    “On several occasions, I have glibly referred to how it now takes two spouses working to equal the wages of a one-income family of 40 years ago. Unfortunately, that is now an understatement. In fact, Western wages have plummeted so low that a two-income family is now (on average) 15% poorer than a one-income family of 40 years ago.”Jim Nielson | The Street

    This death of the American middle class can be blamed on the Republican Party’s decades-long union busting efforts combined with men like Mitt Romney who run companies like Bain Capital for the purpose of creating wealth for the few, by laying off hundreds of thousands of American workers, who once earned living wages and benefits, who once shared in a company’s productivity and success. For decades now vulture capitalists have downsized and closed American companies, offering only low-wage replacement jobs to some of the workers they laid off, while outsourcing most of the formerly American jobs to countries like China and India. And we can also blame a tax code, won by a lobby of the wealthiest among us, that rewards corporations with deductions and loopholes and subsidies for taking American jobs to other countries, enriching a few while cratering our economy at home.

    And the Republican Party tells us the One Percenters need more tax cuts (i.e. they need to hoard even more money?) to ‘create’ a few more jobs — tax cuts that would be paid for, by the way, by cutting programs and services that the rest of us depend on. It’s almost comical when you consider this fact: the average Fortune 500 CEO now makes 380 times more than the average worker, CEO pay has grown more than 127 times faster than worker pay over the last 30 years, and their pay increased last year. 

    More, to these people, is never enough.

    image: destroythegop

    — 2 years ago with 2 notes
    #class war  #income redistribution  #news  #politics  #unemployment  #vote!  #war on the middle class  #1. tax cuts for the wealthy  #2. austerity for the rest of us  #american jobs  #american manufacturing  #bain capital  #fortune 500 ceos  #GOP  #income inequality  #jim nielson  #job creators  #jobs  #middle-class  #Mitt Romney  #off-shoring  #one income family 40 years ago  #outsourcing  #poorer today  #Republicans  #tax fairness  #two income family today  #working class 
    When Romney’s Bain Capital created jobs outside the U.S. that could have been done here →

    Caroline Bankoff at Daily Intel discusses the recent Washington Post article about how Romney’s Bain Capital invested in companies that moved American jobs overseas: [The Romney] campaign has responded with a statement criticizing the article as “fundamentally flawed”:

    [The] story that does not differentiate between domestic outsourcing versus offshoring nor versus work done overseas to support U.S. exports.  Mitt Romney spent 25 years in the real world economy so he understands why jobs come and they go.

    However, as Politico notes, the statement does not address one of the article’s main points, which is that Bain was directly involved with companies that created jobs outside the United States that could have been done here. Meanwhile, the New York Times has a piece (also based on Securities and Exchange Commission filings) detailing a number of instances in which Bain made a profit off of taking over companies that eventually went bankrupt. While some of the companies profiled may have simply been “too troubled to rescue” (or brought down by larger economic or industry trends), there are examples like steel manufacturer GS Industries… Continue reading »

    Steel – YouTube – Kansas City’s GST Steel had been making steel rods for 105 years when Romney and his partners took control in 1993. They cut corners and extracted profit from the business at every turn, placing it deeply in debt. When the company eventually declared bankruptcy, workers not only lost their jobs but were denied their full pensions and health insurance, and the government was forced to step in and provide a bailout. Watch: 


    Romney economics (why jobs come and why they go): creating wealth for a few at the expense of many.

    — 2 years ago with 1 note
    #class war  #income redistribution  #news  #politics  #unemployment  #vote!  #war on the middle class  #american jobs  #American workers  #bain capital  #creating jobs overseas  #GS industries  #jobs that could have been done here  #kansas city  #Mitt Romney  #off-shoring  #outsourcing jobs  #plutocracy  #vulture capitalism  #washington post  #wealth for the few at the expense of many 
    Romney adviser compares sending American jobs overseas to Obama ‘outsourcing’ to OMAHA →

    Romney senior adviser Ed Gillespie engaged in a game of semantics, during an appearance on CNN yesterday. He compared Bain Capital sending jobs overseas while Mitt Romney was the CEO to President Barack Obama’s campaign “outsourcing” telemarketing to places like Omaha, Nebraska.

    “The reporter confused the notion of outsourcing — now a lot of American companies outsource,” Gillespie explained. “They outsource domestically as well. For example, the Obama for America campaign outsources from its own campaign telemarketing services.”

    “To Omaha or wherever it is,” CNN host Candy Crowley pointed out. “But we’re talking about foreign jobs here.”

    Pat Garofalo and Igor Volsky at Think Progress acknowledge there is a difference between “outsourcing” and “offshoring” but:

    […] “This simply doesn’t change the fact that Bain, under Romney, invested in companies whose sole purpose was to move jobs to other countries, directly countering the narrative that Romney has been trying to set.”

    …work that could have been done here. American jobs lost forever, for the financial gain of a few.

    — 2 years ago with 1 note
    #class war  #income redistribution  #news  #politics  #unemployment  #vote!  #war on the middle class  #american jobs  #bain capital  #China  #CNN  #ed gillespie  #for the benefit of a few  #India  #jobs  #Mitt Romney  #offshoring  #omaha  #outsourcing  #outsourcing pioneers  #overseas  #President Obama  #semantics 

    America before Bain Capital: Ampad in Marion, Indiana

    A powerful ad featuring Mike Earnest, a former employee of Ampad in Marion, Indiana, where he describes a cruel trick that was played on the employees shortly before all three shifts at the Marion plant were laid off en masse one day.

    Transcript via DailyKos:

    On Screen: Marion, Indiana

    Mike Earnest: Out of the blue one day, we were told to build a 30 foot stage. Gathered the guys, and we built that 30 foot stage, not knowing what it was for.

    On Screen: Mitt Romney and Bain Capital purchased the paper plant.

    Mike Earnest: Just days later, all three shifts were told to assemble in the warehouse.

    On Screen: The company was profitable, with three shifts working.

    Mike Earnest: A group of people walked out on that stage and told us the plant is now closed and all of you are fired. I looked both ways. I looked at the crowd and ah, we all just lost our jobs. We don’t have an income.

    On Screen: “there’s little question he made a forture from businesses he helped destroy.” — New York Post 2/19/11

    Mike Earnest: Mitt Romney made over a 100 million dollars by shutting down our plant and devestated our lives. Turns out that when we built that stage it was like building my own coffin, and it just made me sick.

    On Screen: If Mitt Romney wins, the middle class loses.

    It takes a special kind of cruelty to get people to build you a stage so you can use it to tell them that their life, as they’ve known it, is over. It’s like saying “Fuck you!” with a extra big flourish, like kicking them in the head, don’t you think?

    It’s almost like a not very funny prank. Oh, right…

    In May, the Obama campaign put out a 5-minute web video on Ampad. Shortly after, ABC News commented on what information Bain Capital left out of its many, subsequent Ampad defenses:

    [I]n 1999, Bain was actually the largest single shareholder of Ampad. In addition, as of 1999, three Bain executives were sat on Ampad’s board of directors. […] one of the big box retailers putting pressure on Ampad was a company Romney often holds up as a Bain success story — the office supply giant, Staples.

    In a 2008 Boston Globe article headlined, “As Bain slashed jobs, Romney stayed to side,” reporter Robert Gavn writes that Ampad “became squeezed between onerous debt that had financed acquisitions and falling prices for its office-supply products. Its biggest customers — including Staples — used their buying power and access toAsian suppliers to demand lower prices from Ampad.” The article also notes that Romney sat on the Staples board of directors during the period of Ampad’s slide into bankruptcy, which occurred in 2000.

    Take a profitable American company, take out numerous loans against it and pocket the money; now make it compete against low-wage Asian companies (that you may have an interest in) to supply other businesses you own — and fire the employees when it can’t compete; finally close down the company in bankruptcy (can’t compete, heavily in debt) and walk away with an overall profit for yourself.

    Romney knows “why jobs come and why they go,” and now, according to Mitt Romney’s and Bain Capital’s formula for success, so do we.

    — 2 years ago with 1 note
    #class war  #news  #politics  #unemployment  #vote!  #war on the middle class  #american jobs  #american pad and paper  #American workers  #ampad  #asian producers  #at the expense of many  #China  #corporate raiders  #India  #indiana  #jobs  #marion  #mike earnest  #Mitt Romney  #offshoring  #outsourcing  #Republicans  #robber barons  #staples  #vulture capitalists  #wealth for a few 
    In 30 years CEO pay grew 127 times faster than worker pay: do Americans want MORE inequality?
ThinkProgress: According to an analysis by the pay research group Equilar, compensation for top bank CEOs grew by nearly 12 percent last year. The Financial Times noted that    these increases occurred “despite widespread falls in profits and share prices“ […] According to a different estimate by Bloomberg News, Wall Street CEO pay grew by 20 percent last year. At the same time, worker wages grew by only 2.1 percent. And inflation adjusted wages actually declined by 0.6 percent between March 2011 and March 2012. […] Over the last 30 years, CEO pay has increased 127 times faster than worker pay. 
That time frame for unequal growth in CEO / worker pay coincides with the time period that Mitt Romney and Bain Capital (and companies like theirs) began their siege on outsourcing (offshoring!) American jobs. That’s quite a coincidence, isn’t it?
What’s sad about these facts is that low-information voters are completely missing the point: according to a Pew poll, Americans currently give Romney an 8-point lead over Obama on who they trust to handle the economy better. Seriously.
Profit for a few at the expense of many — do these people understand they’re saying that’s exactly the kind of economy they approve of with Mitt Romney?

    In 30 years CEO pay grew 127 times faster than worker pay: do Americans want MORE inequality?

    ThinkProgress: According to an analysis by the pay research group Equilar, compensation for top bank CEOs grew by nearly 12 percent last year. The Financial Times noted that    these increases occurred “despite widespread falls in profits and share prices“ […] According to a different estimate by Bloomberg News, Wall Street CEO pay grew by 20 percent last year. At the same time, worker wages grew by only 2.1 percent. And inflation adjusted wages actually declined by 0.6 percent between March 2011 and March 2012. […] Over the last 30 years, CEO pay has increased 127 times faster than worker pay. 

    That time frame for unequal growth in CEO / worker pay coincides with the time period that Mitt Romney and Bain Capital (and companies like theirs) began their siege on outsourcing (offshoring!) American jobs. That’s quite a coincidence, isn’t it?

    What’s sad about these facts is that low-information voters are completely missing the point: according to a Pew poll, Americans currently give Romney an 8-point lead over Obama on who they trust to handle the economy better. Seriously.

    Profit for a few at the expense of many — do these people understand they’re saying that’s exactly the kind of economy they approve of with Mitt Romney?

    — 2 years ago
    #class war  #economy  #income redistribution  #news  #politics  #unemployment  #vote!  #war on the middle class  #american jobs  #American workers  #average workers  #bain capital  #ceo pay increased 127 times faster than worker pay  #CEOs  #income inequality  #jobs  #living wage  #Mitt Romney  #offshoring  #outsourcing  #pew poll  #President Obama  #profit for a few at the expense of many 
    Do you want to reward companies for creating jobs in America or for creating jobs overseas?

Politics aside, seriously, what’s your choice? For 99% of us, it’s a pretty simple answer.
Mitt Romney’s tax plan rewards companies that outsource jobs to other countries and makes it easier for them to avoid taxes.
Think Progress: ”Republican presidential candidate Mitt Romney’s plan to overhaul the American corporate tax code would “exacerbate the worst features of our current tax system” by giving corporations more than $1 trillion in tax breaks and providing an incentive to outsource jobs and stash profits overseas, according to Seth Hanlon, the director of fiscal reform at the Center for American Progress Action Fund.
“While the United States already provides an incentive for companies to store profits in offshore tax havens instead of investing those profits at home, Romney’s plan to shift the U.S. to a territorial tax system would make the situation even worse, Hanlon wrote in a report published today: “Gov. Romney’s proposed exemption for foreign profits would exacerbate the worst features of our current tax system. It would:
“– Enhance the tax code’s rewards for moving jobs and investments overseas
“– Provide a gratuitous windfall to some of the very companies that have already shifted jobs and profits overseas
“– Further invite the offshore tax haven abuse that deprives the U.S. Treasury of tens of billions of dollars in revenue every year”
President Obama’s tax plan provides income tax credits for companies that bring their operations back to America and a minimum tax on foreign earnings. 
barackobama.com: “President Obama’s plan reduces the incentive to move operations overseas, and instead, creates a new 20 percent income tax credit that helps companies cover their moving expenses and bring their operations back to the United States. And to create a more level playing field for American businesses, the President has proposed a minimum tax on foreign earnings, which will reduce incentives for moving profits offshore.
“The choice between President Obama and Mitt Romney is the choice between two fundamentally different economic visions: President Obama would reward companies for creating jobs in America, and Romney would reward companies for creating jobs in other countries. The choice is that stark and that clear.”

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    Do you want to reward companies for creating jobs in America or for creating jobs overseas?

    Politics aside, seriously, what’s your choice? For 99% of us, it’s a pretty simple answer.

    Mitt Romney’s tax plan rewards companies that outsource jobs to other countries and makes it easier for them to avoid taxes.

    Think Progress: ”Republican presidential candidate Mitt Romney’s plan to overhaul the American corporate tax code would “exacerbate the worst features of our current tax system” by giving corporations more than $1 trillion in tax breaks and providing an incentive to outsource jobs and stash profits overseas, according to Seth Hanlon, the director of fiscal reform at the Center for American Progress Action Fund.

    “While the United States already provides an incentive for companies to store profits in offshore tax havens instead of investing those profits at home, Romney’s plan to shift the U.S. to a territorial tax system would make the situation even worse, Hanlon wrote in a report published today: “Gov. Romney’s proposed exemption for foreign profits would exacerbate the worst features of our current tax system. It would:

    “– Enhance the tax code’s rewards for moving jobs and investments overseas

    “– Provide a gratuitous windfall to some of the very companies that have already shifted jobs and profits overseas

    “– Further invite the offshore tax haven abuse that deprives the U.S. Treasury of tens of billions of dollars in revenue every year”

    President Obama’s tax plan provides income tax credits for companies that bring their operations back to America and a minimum tax on foreign earnings

    barackobama.com: “President Obama’s plan reduces the incentive to move operations overseas, and instead, creates a new 20 percent income tax credit that helps companies cover their moving expenses and bring their operations back to the United States. And to create a more level playing field for American businesses, the President has proposed a minimum tax on foreign earnings, which will reduce incentives for moving profits offshore.

    “The choice between President Obama and Mitt Romney is the choice between two fundamentally different economic visions: President Obama would reward companies for creating jobs in America, and Romney would reward companies for creating jobs in other countries. The choice is that stark and that clear.”

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    — 2 years ago
    #politics  #job creation  #mitt romney  #president obama  #american jobs  #overseas jobs