Tag Archives: Bain Capital

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General Motors Is Alive – a reminder


| By ThinkProgress War Room

The article below was posted in October 2012

The Rescue of the Auto Industry — By the Numbers

At the height of the financial crisis, some people, including Mitt Romney, said we should “let Detroit go bankrupt.” And Bain Capital was one of the many private investors that refused to invest in the auto industry when it stood on the brink of collapse.

Fortunately, President Obama saved the U.S. auto industry and now it’s roaring back. For example, just today we learned that General Motors is adding another 2,000 jobs in Michigan. These jobs are coming to Michigan as part of larger effort to insource thousands of jobs at the world’s largest automaker.

And this is just the tip of the iceberg. Here’s a look at the auto rescue — by the numbers.

  • More than 1 million: Jobs saved by the auto rescue.
  • $85 billion: Totalspent by the U.S. government on the auto rescue.
  • $60 billion: Amount the government will likely recover.
  • $7.2 billion: Savings to taxpayers from reducedunemployment, Social Security, and other benefits in 2009 and 2010.
  • $97 billion: Estimated losses in personal incomes prevented by the auto rescue.
  • 26 percent:Remaining stake (of the initial 61 percent stake) held in GM by the government.
  • 0: Number of Chrysler shares currently held by the government.
  • 167,000: Number of jobs the automakers and their suppliers are forecasted to add by 2015.
  • 2.5 million: Number of people employed by the U.S. auto industry today, up from 2.3 million in August 2009.
  • 3.3 million: Cars and light trucks sold by GM and Chrysler in the past 12 months, up from 2.9 million in the previous period.

Figure 1

BOTTOM LINE: Mitt Romney said to “let Detroit go bankrupt,” but we didn’t do that and now the auto industry is helping to fuel the recovery in states across the country, particularly Michigan and Ohio.

Evening Brief: Important Stories That You Might’ve Missed

Leading GOP voter suppression expert says voter IDs laws are “a favor” for poor people.

Big Bird stars in a campaign ad and he greeted Mitt Romney today in Iowa.

Leading Democratic Senator says we “ought to scrap” tax reform that lowers tax rates.

After one Arkansas Republican lawmaker called slavery “a blessing in disguise,” another suggests that Jesus condoned it.

Mitt Romney’s tax plan: defeated by arithmetic. (Again.)

Another fail on foreign policy from Mitt Romney.

Billionaire CEO threatens to fire employees if Obama wins.

Buckle up: Super PAC spending is about to explode.

Australia’s female prime minister delivered a blistering speech on sexism and misogyny.

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designed to intimidate voters …

1 Comment

Billboards like this are popping up in Black neighborhoods.Cleveland Voter Fraud BillboardDemand Clear Channel remove them.

Join Us

 

It’s one of the nastiest voter suppression schemes we’ve seen: This week, in Black and Latino neighborhoods in Ohio and Wisconsin, an anonymous group started running outrageous billboards that try to scare people away from voting.1

Allowing an anonymous advertiser to create an atmosphere of fear around voting just as the early voting period begins is unacceptable. Please join us in demanding that Clear Channel immediately take down these offensive and dangerous billboards (and please ask your friends and family to do the same):

http://act.colorofchange.org/sign/billboards

These billboards are clearly designed to intimidate voters, and they’re part of a coordinated right-wing attack on the voting rights of people of color. The billboards are hosted by Clear Channel, a media conglomerate owned by Bain Capital — the same company that Mitt Romney co-founded.2 Clear Channel has tried to avoid any responsibility for the ads, saying that the group who paid for them is responsible for the content. But Clear Channel has rejected billboard ads many times in the past.3,4,5

The myth of widespread “voter fraud” has been used to justify voter suppression efforts again and again. As a result, we’ve seen new restrictions on voting and voter registration, including discriminatory voter ID laws and voter roll purges. The fact is that voter fraud rarely occurs. In fact, voter fraud happens as infrequently as death by lightning.6

Clear Channel syndicates some of our country’s most conservative commentators like Glenn Beck and Rush Limbaugh, and now it is allowing the myth of voter fraud to intimidate Black and Latino voters. Please join us in demanding that Clear Channel immediately remove the billboards, it only takes a moment.

http://act.colorofchange.org/sign/billboards

Thanks and Peace,

— Rashad, Arisha, Dani,Charlene, Aimee and the rest of the ColorOfChange.org team     October 13th, 2012

Help support our work. ColorOfChange.org is powered by YOU—your energy and dollars. We take no money from lobbyists or large corporations that don’t share our values, and our tiny staff ensures your contributions go a long way. You can contribute here:

http://www.colorofchange.org/donate

References

1.  “Ohio voter fraud billboard accused of intimidating black voters,” The Grio, 10-05-12, http://thegrio.com/2012/10/05/ohio-voter-fraud-billboard-accused-of-intimidating-black-voters

2. “Does Romney’s Bain Capital Support Voter Suppression,” Daily Kos, 10-10-12, http://www.dailykos.com/story/2012/10/10/1142856/-Does-Romney-s-Bain-Capital-Support-Voter-Suppression

3. “Clear Channel Rejects Times Square Peace Billboard Timed for RNC,” Democracy Now,07-14-2004 http://www.democracynow.org/2004/7/14/clear_channel_rejects_times_square_peace

4. “St. Pete Pride gay-themed digital billboards rejected by Clear Channel Outdoor,” 10 News http://http://act.colorofchange.org/go/1854?t=10&akid=2684.1174326.96ev6N

5. “Clear Channel Rejects Billboard Highlighting Heartland Institute’s Corporate Funders,”Forecast the Facts, 05-17-2012 http://forecastthefacts.org/press/releases/2012/5/17/clear-channel-rejects-billboard-highlighting-heart/

6. “The Myth of Voter Fraud,” Washington Post, 03-29-07, http://www.brennancenter.org/content/resource/the_myth_of_voter_fraud/

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This Week’s Top 3 On ThinkProgr​ess


It’s been a busy week. Here are three big stories from ThinkProgress you might have missed:

1. Alyssa’s take on The Shootings at ‘The Dark Knight Rises’ in Colorado

2. A Guide To Consumer Brands Helping Bankroll Right-Wing Attack Ads

3. 20 Prominent Republicans Who Want Romney To Release More Tax Returns Right Now

Best,

Igor Volsky Deputy Editor, ThinkProgress

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AFL – CIO : BRING JOBs HOME


SENATE TO VOTE ON THE BRING JOBS HOME ACT TOMORROW
The Senate is set to vote on the Bring Jobs Home Act on Thursday. This bill would stop the perks for corporations that outsource American jobs.Call your senators now at 888-659-9401 now and tell them to support the Bring Jobs Home Act.

We’ve got some important news about getting our elected leaders to take the necessary steps to stop the policies of outsourcing.

The Senate will take up the Bring Jobs Home Act tomorrow. This bill—S. 2884—would stop allowing corporations to deduct their moving expenses when they offshore good American jobs to other countries.

Call your senators now at 888-659-9401 and tell them to vote YES on the Bring Jobs Home Act tomorrow. Even if you already have called, your senators need to hear from you again.

The vote on this measure comes as news continues to trickle out about Mitt Romney’s tenure at Bain Capital, when companies it managed outsourced good jobs abroad.[1]

And this week, a new report showed Romney’s tax plan would create even more incentives for corporations to ship jobs overseas.[2]

Romney is not the only politician, though, who has been on the wrong side of job creation for working families. Politicians continue to support measures that reward corporate CEOs and leave the rest of us to take the hit.

Now they have a chance to move toward a comprehensive plan to stop outsourcing and create family-sustaining jobs in the United States. This not only must include passing the Bring Jobs Home Act but should also:

  • Tax U.S. corporations’ overseas income the same way domestic income is taxed, so they do not shift income and jobs overseas just to lower their tax bill;
  • Make sure trade agreements like the Trans-Pacific Partnership are fair and benefit working families—not just multinational corporations;
  • Stop currency manipulation by our trading partners; and
  • Bar companies that send call center jobs overseas from receiving federal grants and tax breaks.

Please call your senators today at 888-659-9401 and ask for their support for the Bring Jobs Home Act.

Thank you for your continued support to stop the policies of outsourcing.

In Solidarity,

Nicole Aro
Digital Strategies, AFL-CIO

P.S. After you have made your call, go here to check out the new “Meet Mitt Romney Mr. 1%” website. The website includes shareable infographics, video and ways you can get involved and vote your values.

[1] www.boston.com/news/local/massachusetts/articles/2012/07/
14/evidence_mounts_of_mitt_romneys_continuing_ties_to_bain_after_1999
[2] www.americanprogressaction.org/issues/2012/07/hanlon_outsourcing.html
~ politics petitions pollution and pop culture

ThinkProgress …


ThinkProgress
ThinkProgress (Photo credit: Wikipedia)

It’s been a busy week. Here are three big stories from ThinkProgress you might have missed:

1. NAACP Reacts To Mitt Romney: ‘Patronizing,’ ‘Totally Disconnected,’ ‘A Serious Misjudgment’

2. EXCLUSIVE: NRA Threatens Senators Who Support Campaign Finance Disclosure

3. Republican Rep: I Don’t Think Someone Who Is Diagnosed With A Brain Tumor Should Have Health Care Provided

Best,

Igor Volsky Deputy Editor, ThinkProgress