These folks are getting the outsourced jobs — Do you think they trust Bain?
As Republican presidential candidate Mitt Romney faces a withering attack over outsourcing and layoffs by his former firm, Bain Capital, employees at a Bain-owned company are appealing to Romney to stop their jobs being shipped overseas…
The plant’s employees are calling on Romney to use his influence with former Bain colleagues to keep the plant open.
The workers signed a petition asking him to help, and the Freeport City Council passed a motion on Monday urging the candidate to step in to save the jobs.
“If he wanted to, all he needs to do is call up the management of Bain Capital and say, ‘Look, don’t do this,’” said Tom Gaulrapp, who has worked at the factory for 33 years…
As a major investor in Sensata, Romney could gain from an outsourcing move that is likely to cut costs and increase the company’s presence in emerging markets.
Romney owns at least $7.8 million in eight Bain funds that collectively hold 51 percent of Sensata’s shares, according to a disclosure report he released in June.
Sensata bought the Freeport plant as part of an acquisition of Honeywell International’s auto-sensor business in late 2010. The 170 jobs there were at risk from the start of the purchase…In their first meeting with their new employers when the deal was completed in January 2011, workers at the plant were told their jobs would be eliminated by the end of 2012.
Chinese workers have since been brought in to learn how to operate the equipment. The first batch of layoff notices went out last week…
No doubt Romney will consider all the political factors involved in this decision – and do nothing. He’s a do-nothing kind of guy.