Published: Thursday 27 September 2012
You may never have heard of Sensata Technologies, but in this election season, you’ve probably heard the name of its owner, Bain Capital, the company co-founded and formerly run by Mitt Romney.

 

Freeport, Ill., is the site of one of the famous Lincoln-Douglas debates. On Aug. 27, 1858, Abraham Lincoln and Stephen Douglas debated there in their campaign for Illinois’ seat in the U.S. Senate. Lincoln lost that race, but the Freeport debate set the stage for his eventual defeat of Douglas in the presidential election of 1860, and thus the Civil War. Today, as the African-American president of the United States prepares to debate the candidate from the party of Lincoln, workers in Freeport are staging a protest, hoping to put their plight into the center of the national debate this election season.

A group of workers from Sensata Technologies have set up their tents in a protest encampment across the road from the plant where many of them have spent their adult lives working. Sensata makes high-tech sensors for automobiles, including the sensors that help automatic transmissions run safely. Sensata Technologies recently bought the plant from Honeywell, and promptly told the more than 170 workers there that their jobs and all the plant’s equipment would be shipped to China.

You may never have heard of Sensata Technologies, but in this election season, you’ve probably heard the name of its owner, Bain Capital, the company co-founded and formerly run by Mitt Romney. When they learned this, close to a dozen Sensata employees decided to put up a fight, to challenge Romney to put into practice his very campaign slogans to save American jobs. They traveled to Tampa, Fla., joining in a poor people’s campaign at a temporary camp called Romneyville (after the Hoovervilles of the Great ...

Published: Saturday 15 September 2012
“Mitt Romney can can use this to show us if he wants to be president of the whole United States, or just president of, by and for the outsourcing 1 percenters.”

 

Workers facing outsourcing by Bain Capital are camping outside the Sensata factory in Freeport, Ill. They are asking Mitt Romney to show up and help save their jobs. They say they will stay camped there until Romney shows up and stands with them – or with Bain.

Mitt Romney can can use this to show us if he wants to be president of the whole United States, or just president of, by and for the outsourcing 1 percenters.

Sensata

The private equity firm Bain Capital put together Sensata Technologies in 2006 to make and sell sensors and controls to car makers and other manufacturers. The company is closing the Freeport, Ill. plant and outsourcing the 165 jobs to China. The workers have to train their Chinese replacements before they are laid off.

Sensata is making plenty of money. According to the company's website:

  • Second quarter 2012 net revenue was a record $504.6 million, an increase of 10.9% from the second quarter 2011 net revenue of $455.0 million.
  • Second quarter 2012 net income was $26.1 million, or $0.14 per diluted share, versus second quarter 2011 net (loss) of $(34.6) million, or $(0.20) per diluted share.
  • Second quarter 2012 Adjusted net income1 was a record $97.5 million, or $0.54 per diluted share, versus second quarter 2011 Adjusted net income1 of $92.2 million, or $0.51 per diluted share.

Sensata explains that Chinese workers cost less.

Mitt Romney started Bain Capital in 1984. He left the company in 1999, or 2000, or 2001, or 2002, or later, or earlier, depending on which year is best. In 2012 he is clearly no longer with Bain, while receiving only approximately $440,000 a weekfrom the company.

Efforts To Get Sensata To Reconsider

The Freeport, Ill., City Council unanimously passed a resolution on July 16 asking Romney to come and help save the workers' jobs.

Two ...

Published: Wednesday 29 August 2012
“One hundred and seventy workers at a Sensata Technologies plant in Freeport, Illinois -- of which Bain is the majority owner -- are calling on Romney to help save their jobs from being shipped to China.”

After repeatedly touting his business experience as an asset towards reviving the U.S. economy, Mitt Romney has been put on the defensive by Bain Capital workers who are fighting back against the outsourcing of their jobs. One hundred and seventy workers at a Sensata Technologies plant in Freeport, Illinois -- of which Bain is the majority owner -- are calling on Romney to help save their jobs from being shipped to China. The factory manufactures sensors and controls that are used in aircraft and automobiles, but has been dismantling and shipping the plant to China piece-by-piece -- even as it requires the workers to train personally their Chinese replacements, who have been flown in by management. We're joined by two workers from the Sensata plant in Freeport, Illinois: Tom Gaulrapp and Cheryl Randecker. Both worked at Sensata for 33 years and were told their jobs would be terminated by the year's end.

 

Transcript

AMY GOODMAN: This is Democracy Now!, "Breaking With Convention: War, Peace and the Presidency," as we cover the Republican National Convention here in Tampa, inside and out, as we will do in Charlotte next week, as well, covering the Democrats.

Well, as the Republican National ...

Published: Saturday 25 August 2012
“Bain took control of Sensata in 2006; last year, it took over the Freeport plant and announced that it would layoff 165 workers and close it.”

 

Workers at Sensata Technologies, a business based in Freeport, Illinois, have been protesting Mitt Romney’s campaign stops across the country all summer because the company, which is owned by Bain Capital, is laying off workers in order to hire employees in China. Bain took control of Sensata in 2006; last year, it took over the Freeport plant and announced that it would layoff 165 workers and close it.

Some of the workers, according to Sensata employees, have been forced to train their Chinese replacements, adding insult to the injury that was their looming job loss.

Bain’s role in the layoffs hasn’t been a secret. But given that it took control of Sensata and the plant well after Romney’s departure from the firm, the candidate has thus far steered clear of the controversy, only drawing protests from the workers who want him to step in and stop the plant’s closure. But according to documents detailing Romney’s finances obtained and published yesterday by Gawker, his connection to Sensata is much more direct.

Romney held a direct investment in Sensata through one fund titled “Bain Capital Fund IX, L.P.,” dated December 31, 2009, meaning he has likely financially benefited from Bain’s ownership of the company in the past, and could benefit from the plant’s closure and the outsourcing of the jobs to China. According to his 2011 personal financial disclosure, Romney still holds the Bain Capital fund that ...

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