FacebookTwitterGoogle+RedditEmail

How Bain Exported Illinois Jobs to China

by Rev. JESSE L. JACKSON

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.

The Sensata workers called on Mitt Romney — an investor in Sensata through his Bain holdings — to intervene. A group went to Iowa during the primaries to ask him to come to Freeport; they met with no success. Another group went to the Republican convention to ask him to come to Freeport; they had no success, either.

So, with the open support of Freeport’s mayor and City Council, the workers set up a “Bainport” encampment in the Stephenson County Fairgrounds right across the street from the plant.

“Welcome to Bainport, a taste of the Romney economy,” reads one sign. “Romney does have a jobs plan; too bad it’s for China,” reads another. And Mrs. Turner and others began to make their voices heard.

“We are suffering from the Bain model of capitalism,” Mrs. Turner said. “This is the way Bain works. They take over good companies, and then ship their jobs to China to make even more money.

“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.”

Probably a bigger part than Romney pays in taxes on his income.

“We’re getting the shaft all the way,” Mrs. Turner continued. “And we’re not going to take it quietly. We can fight for our jobs. We may not win, but we are in their face. You may roll over me, but I’m not going to shut my mouth while you do it.”

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.

In the debate with President Barack Obama, Mitt Romney had the gall to say he had never heard of a tax break for moving jobs abroad. But, in fact, Bain is infamous for taking advantage of every tax dodge and haven known to accountants. They can write off the expense of moving those jobs abroad, and Romney knows it. Romney has his own money stashed in Swiss bank accounts and Cayman Islands shell companies. He even benefitted from tax breaks, avoiding capital gains on his holdings of Sensata stock.

Worse, Romney supports a “territorial tax system” for multinationals that would make the rest of the world a U.S. tax-free zone. That would give multinationals a huge incentive to ship more jobs abroad or to report profits abroad to “harvest” another tax break. Romney is pushing national policy that will reward Bain’s model.

Everyone ought to listen to Mrs. Turner.

Rev. Jesse L. Jackson is founder and president of the Rainbow PUSH Coalition.

Clearance Sale of Vintage
CounterPunch T-Shirts!

We’ve marked down some of CounterPunch’s most popular t-shirts to only $8.00,including the CP shirt featuring Alexander Cockburn’s own scrawl.

Jesse Jackson is the founder of Rainbow/PUSH.

More articles by:

CounterPunch Magazine

minimag-edit

bernie-the-sandernistas-cover-344x550

zen economics

February 22, 2017
Mike Whitney
Liberals Beware: Lie Down With Dogs, Get Up With Fleas
John Grant
On Killers and Bullshitters*
Peter Linebaugh
Catherine Despard, Abolitionist
Patrick Cockburn
The Bitter Battle for Mosul
Ted Rall
Sue the Bastards? It’s Harder Than You Think
Yoav Litvin
The Emergence of the Just Jew
Kim Scipes
Strategic Thinking and Organizing Resistance
Norman Pollack
Mar-a-Lago, Ideological Refuge: Berchtesgaden, II
Fred Donner
Nixon and the Chennault Affair: From Vietnam to Watergate
Carl Kandutsch
Podesta vs. Trump
Ike Nahem
To the Memory of Malcolm X: Fifty Years After His Assassination
Jesse Jackson
Trump’s Tough Talk Won’t Fix Chicago
Paul Donnelly
Betsy DeVos and the War on Public Education
Ebony Slaughter-Johnson
The End of an Alliance for Police Reform
Richard Lawless
Wall Street Demanded the Nuclear Option and the Congress Delivered
Liaquat Ali Khan
Yes, Real Donald Trump is a Muslim!
Ryan LaMothe
“Fire” and Free Speech
February 21, 2017
Sharmini Peries - Michael Hudson
Finance as Warfare: the IMF Lent to Greece Knowing It Could Never Pay Back Debt
CJ Hopkins
Goose-stepping Our Way Toward Pink Revolution
John Wight
Firestarter: the Unwelcome Return of Tony Blair
Roger Harris
Lenin Wins: Pink Tide Surges in Ecuador…For Now
Shepherd Bliss
Japanese American Internment Remembered, as Trump Rounds Up Immigrants
Boris Kagarlitsky
Trump and the Contradictions of Capitalism
Robert Fisk
The Perils of Trump Addiction
Deepak Tripathi
Theresa May: Walking the Kingdom Down a Dark Alley
Sarah Anderson
To Save Main Street, Tax Wall Street
Howard Lisnoff
Those Who Plan and Enjoy Murder
Franklin Lamb
The Life and Death Struggle of the Children of Syria
Binoy Kampmark
A Tale of Two Realities: Trump and Israel
Kim C. Domenico
Body and Soul: Becoming Men & Women in a Post-Gender Age
Mel Gurtov
Trump, Europe, and Chaos
Stephen Cooper
Steinbeck’s Road Map For Resisting Donald Trump
February 20, 2017
Bruce E. Levine
Humiliation Porn: Trump’s Gift to His Faithful…and Now the Blowback
Melvin Goodman
“Wag the Dog,” Revisited
Robert Hunziker
Fukushima: a Lurking Global Catastrophe?
David Smith-Ferri
Resistance and Resolve in Russia: Memorial HRC
Kenneth Surin
Global India?
Norman Pollack
Fascistization Crashing Down: Driving the Cleaver into Social Welfare
Patrick Cockburn
Trump v. the Media: a Fight to the Death
Susan Babbitt
Shooting Arrows at Heaven: Why is There Debate About Battle Imagery in Health?
Matt Peppe
New York Times Openly Promotes Formal Apartheid Regime By Israel
David Swanson
Understanding Robert E. Lee Supporters
Michael Brenner
The Narcissism of Donald Trump
Martin Billheimer
Capital of Pain
Thomas Knapp
Florida’s Shenanigans Make a Great Case for (Re-)Separation of Ballot and State
FacebookTwitterGoogle+RedditEmail