So Romney was part of Bain years after he said that he had departed which isn’t difficult to accept in light of his past troubles with telling the truth but what his company did during that time directly conflicts with his messaging about his sympathy for main street America and Joe Sixpack.
At the time Romney was acquiring shares in Global-Tech, the firm publicly acknowledged that its strategy was to profit from prominent US companies outsourcing production abroad. On September 4, 1998, Global-Tech issued a press release announcing it was postponing completion of a $30 million expansion of its Dongguan facility because Sunbeam, a prominent American consumer products company and a major client of Global-Tech, was cutting back on outsourcing as part of an overall consolidation. But John C.K. Sham, Global-Tech’s president and CEO, said, “Although it appears that customers such as Sunbeam are not outsourcing their manufacturing as quickly as we had anticipated, we still believe that the long-term trend toward outsourcing will continue.” Global-Tech, which in mid-1998 announced fiscal year sales of $118.3 million (an increase of 89 percent over the previous year), also manufactured household appliances for Hamilton Beach, Mr. Coffee, Proctor-Silex, Revlon, and Vidal Sassoon, and its chief exec was hoping for more outsourcing from these and other American firms.
Read the Wall Street Journal editorial page or turn on CNBC at any hour of any day and you’ll be told that companies are forced by lazy, greedy American looters and moochers to off-shore jobs and that’s a good thing BECAUSECAPITALISM. So why would the Romney campaign feel the need to deny doing what the market demands? If they were consistent with industry agitprop they would embrace the label as a virtue, hand the campaign microphone to the Reason magazine staff and have them explain how all rights not bestowed by private property are artificial and that working for seventy cents an hour is as natural as gravity.
They’ll continue to lie about Bain’s activities because they know that when exposed under harsh daylight reasonable individuals will find them contrary to their own instincts of survival and plain common sense. As Josh Marshall pointed out yesterday, when your opponent’s message is that he’s a gazillionaire and that his aim is to make sure that gazillionaires benefit the most from his policies it shouldn’t be difficult to form a reelection strategy highlighting these simple truths.