Dave Johnson
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.”

You Should Know About Sensata - It’s What the Election is About

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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 Republican members of Congress, Don Manzullo, R-Ill., and Bobby Schilling, R-Ill., sent a letter to Sensata's CEO asking him to keep the jobs in Freeport. Manzullo is a co-sponsor of the House "currency" bill, the Currency Reform for Fair Trade Act (H.R. 639) that would crack down on China's currency manipulation. Though he is a co-sponsor, Manzullo refuses to sign a discharge petition that would bring the bill to the floor for an actual vote.

Rep. Jan Schakowsky (D-Evanston) has joined workers in asking Romney to show up and help.

Illinois' Governor Pat Quinn has visited the workers in Freeport, and asks Congress to pass the Bring Jobs Home Act. The Bring Jobs Home Act would eliminate the tax breaks that encourage companies like Bain and Sensata to close factories here and send the jobs and the work to countries like China, with the cash stopping off in the Cayman Islands for a quick tax cleansing. The Bring Jobs Home Act was recently filibustered by Senate Republicans.

Sensata workers collected 35,000 petition signatures, asking Romney to come to Freeport to help save the workers' jobs. This video shows what happened when they tried to deliver these petitions and a letter at a Romney campaign office in Madison. Instead of accepting the letter and petitions, the campaign locked them out and called the police.

President Of All Of US Or President Of 1 Percent?

Many Americans are asking, if elected, will Romney be the pPresident of the United States or really just the president of, by and for the 1 percent? Visiting the camp at "Bainport" and helping the workers keep their jobs would give Romney a chance to distance himself from the outsourcing and "vulture capitalism" practices of his former company, making a break and standing with the rest of the country, by asking Sensata not to ship these jobs to China.

Appearing to support manufacturing workers like those at Sensata, Romney is running a new ad saying President Obama is killing manufacturing jobs.

But if you watch the ad, it is actually describing conditions under President Bush, and trying to make viewers think this happened under President Obama. Visiting the Sensata workers and helping them in their struggle with the company and Bain would give Romney an opportunity to clear this up.

The ad criticized President Obama for not cracking down in Chinese currency manipulation. Like Rep. Manzullo, Romney also says he supports cracking down on Chinese currency manipulation but has not called on House Republicans to bring this bill to the floor for an actual vote. See previous posts on this, Romney Etch-A-Sketching On China CurrencyRomney On China: Talks The Talk, Will He Walk The Walk? and China Currency Fight In Congress.

Greetings From Bainport, Illinois

The workers campaign in Freeport, Ill., are calling their camp "Bainport." They have a website, Greetings from Bainport, Illinois. Take a look, there are lots of great pictures.

From the website:

We're workers at Bain Capital-owned Sensata in Freeport, Illinois. We're fighting to save our jobs from being shipped to China by the end of this year.

Sign our petition here.

I support the Sensata workers and their call on Mitt Romney to come and save their jobs from being shipped to China. I commend and support their efforts to save their jobs and encourage them to keep it up the fight until Mitt Romney visits the workers in Freeport, Illinois.

Let's see of we can get Mitt Romney to show up at Freeport, Ill. and help these workers.

You can stand with the Senstata workers fighting outsourcing by sending them a pizza. Call Logan's Bar & Grill at (815) 232-4592. Tell them it's for the Senstata workers camping out and they'll make sure the food gets to them.



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9 comments on "You Should Know About Sensata - It’s What the Election is About"

luxartisan

September 16, 2012 6:05am

"Sensata explains that Chinese workers cost less." If you believe that jobs should be outsourced for this reason, vote for Romney. Paid for by the "Let's squeeze American workers until they're willing to live on Chinese wages Committee".

Disgraceful.

anono

September 15, 2012 3:48pm

What a Cop!!!! It's great and gives hope to know that there's still a few Good ones out there Protecting and Serving US!!!!!

pitch1934

September 15, 2012 2:43pm

The extreme right castigates anyone who disagrees with it as being "unpartiotic." I ask you, what is patriotic about stripping good paying jobs from you fellow citizens and shipping them ovrseas? This is not about atriotism on their part, it is about power. As long as they cn sell their goods to someone, somewhere and hold power, that is all there is. POWER TO THE PEOPLE.

Albert Kapustar

September 15, 2012 1:12pm

Both candidates are liars ,plain and simple.Obama supported 2 new free trade agreements and pushed for them.romney through his bain company is exporting more jobs and then uses the straw dog tactic of saying he will fight Chinese currncy manipulation while sending more jobs overseas.This country is screwed.
For those saying companies get no tax breaks for destroying the US economy.companies don't pay taxes on profits earned overseas until they come back to the US.This is never.i just read an article that 35 trillion is being hid overseas,not subject to taxes.Imagine how that could help the countries debt problem created by these corporations

mule

September 16, 2012 3:43am

When will America wake up and realize that we no longer have a democracy? Both candidates (for many elections) are horses from the same stable. They are fed from the same trough.

John Torinus Jr.

September 15, 2012 9:09am

There are no tax breaks or subsidies. I asked Deloitte's top tax guy what they might be for my company. He said there are none. We have plants in three countries besides the U.S. And we are getting no breaks. It's a straw man. Unless -- you consider paying lower rates of corporate income tax in other countries a break. U.S. companies pay the differeence in corporate rates when they bring profits money home. Answer to that one: conform our rates to those of other countries. Meanwhile, let's cut the political B.S. that breaks are why jobs move overseas. There are none. Finally, a question: don't we want our companies to be globally competitive and operate in other countries?

Jeff Lewis

September 15, 2012 11:52am

One person's attempt to answer your question: "...don't we want our companies to be globally competitive and operate in other countries?"

It seems to me, John, the problem here is that plenty of good American jobs, at a profitable business in Freeport, are being moved to China. Doing so does not make Sensata more 'globally competitive'; rather, it reduces yet more jobs to a lower common denominator. And the forces behind this unnecessary relocation of jobs include: Bain-pressure (gotta generate out-sized returns for the elite Bain PE fund holders, and to pay Mitt his $440K per week), as well as various laws that further enable this tragedy (e.g., we are subsidizing Bain to unemployee these people, using unemployment funds to ease the initial pain).

The thing is, if there was a compelling need to ship these jobs (such as, Sensata just cannot compete with an established supplier in a low labor-cost country, and Sensata is done if we do not take this action), than this job transfer might be our best fix overall. But, the clear reality is, when Bain started in 1984, it was on the frontier of LBO's and Private Equity venture/vulture capitalism. Romney applied the practices started by Icahn, Milken and Boesky, just as Brigham Young furthered Mormonism after Joseph Smith. Romney is a prophet for ill-got profit, and has been and continues to destroy U.S. jobs, solely out of his unmitigated greed.

dandkpabst

September 15, 2012 10:06am

Do you not get to write off relocation expenses for your employees? I certainly do. Any expenses incurred to move employees from the US to China is tax deductable. Yes, I'd like our companies to be globally competitive, but why take the jobs from the US in order to do that? Germany doesn't have much trouble competing globally while keeping good paying jobs in Germany.

Arachne646

September 15, 2012 7:12am

I guess this shows that the rich do create jobs--wherever there are people who will work more cheaply!