In Romney's Bain History: A Lot of Jobs Outsourcing

'Washington Post' digs into securities filings
By Mark Russell,  Newser Staff
Posted Jun 22, 2012 10:10 AM CDT
In Romney's Bain History: A Lot of Jobs Outsourcing
Mitt Romney speaking at the National Association of Latino Elected and Appointed Officials conference in Orlando, Fla., yesterday.   (AP Photo/Charles Dharapak)

Mitt Romney likes to talk about the jobs created by Bain Capital, and today the Washington Post takes a look at the ones Bain helped create in places like ... India and China. During Romney's decade-plus at Bain, the private equity firm owned companies that led the way in terms of relocating call center and computer-component factory jobs abroad. And while the Post notes that bringing up this subject is nothing new—Romney's political foes have tried to do so for years—the paper reports that it reviewed securities filings that gave it a more complete picture of Bain's investment in outsourcing firms.

The Post describes Bain as "not the largest player in the outsourcing field," but notes that it was an early one, first dipping its toes into the waters in 1993 when it bought a stake in Corporate Software Inc., which started moving its call centers overseas in the mid-1990s and continued to do so after merging with another company to form Stream International. Other companies purchased by Bain moved their manufacturing overseas, including GT Bicycle, electronics manufacturer SMTC Corp, and computer chip manufacturer Chippac. Romney's camp had no comment on the Post story, but Bain emphasized its role in investing in and improving US companies since its founding in 1984. Click to read the entire piece. (Read more Mitt Romney stories.)

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