The daily lunchtime email blizzard provided something interesting. And cruel. And nauseating.
A new video presents employees at Sensata Technologies commenting on a recently leaked video in which Republican presidential candidate Mitt Romney lauds the gift of being born in America. From his comments:
The Bain partner I was with turned to me an said, you know, 95% of life is settled if you are born in America. This is an amazing land and what we have is unique and fortunately it is so special that we are sharing it with the world.Indeed. American manufacturing jobs are awesome. The middle class was built with jobs that pay a living wage. How did Bain Capital acquire this bright spot of productivity and profitability that is Sensata Technologies? The Nation outlines how Sensata's chain of ownership eventually landed in Bain Capital's hands.
The Sensata Technologies plant, which has been on the forefront of producing state-of-the-art automotive sensors, was owned by Texas Instruments, and then by Honeywell, before being sold in 2010 to Sensata Technologies Holding, N.V, a firm based in the Netherlands but majority-owned by Bain Capital. Bain, the private equity firm that Mitt Romney helped to develop and that continues to make him a very rich man, has since consolidated ownership of Sensata.This is where the story takes a perverse turn.
Look at how many jobs that Sensata, under the management of Bain Capital, is creating with this image captured from their job postings page. Pay close attention to the outlined area. Click through for a larger image.
See! Romney does know how to create jobs. You don't even know how to speak Mandarin.
Two gross insults emerge from a few minutes' reading into this story. This Illinois parts manufacturing plant is both profitable and competitive. Bain Capital rubs salt into these wounds borne by these soon-to-be former Sensata employees. They can buy themselves a little more employment by training the Chinese workers who will replace them.
