Mitt Romney is running on his record of creating jobs as both the Governor of Massachuetes and as an executive at Bain Capital. But a 2002 article from the Boston Business Journal reveals that his former company Bain Capital was outsourcing jobs to India and China at the same time Romney was Governor.
Bain Capital that year retained an IT company E-5, in which it was also an investor, which reportedly outsourced most of it’s work to India and China. The company was to handle jobs that Bain would previously done in-house.
“Bain Capital, an investor in E5, also hired the company to work on an internal business management system that Bain would have previously done with a combination of in-house IT staff and outsourcing to a local developer. The quality of E5’s work was similar or better, and much less expensive, said Mike Krupka, managing director of Bain.
“We didn’t have to fire anyone, we didn’t have to hire anyone,” Krupka said. Remaining competitive and cutting costs also keeps local companies healthier financially, said Krupka.
“If you don’t use someone like E5, then you’ll be less competitive and you’ll be able to hire fewer people because you’re growing less quickly,” Krupka said.”
- Barack Obama had his final press conference as president, defending his legacy and vowing to fight Trump if the nation's "core values may be at stake."
- Donald Trump's pick for health secretary, Tom Price, refused to say at his confirmation hearing whether or not he would cut Medicare and Medicaid.
- It's official: Scientists announced today that 2016 was the hottest year on record and that greenhouse gases are to blame ♨️️🌍
- "Will & Grace" will return for a 10-episode revival. Debra Messing and Eric McCormack will reprise their roles in the groundbreaking NBC sitcom 📺