Bain Capital represents the epitome of crony capitalism and the corrupting influence of money in politics. Romney worked with Salvadorian oligarchs to initially fund the corporation. These same oligarchs financed right-wing death squads that killed over 35,000 El Salvadorians, and politically supported the military dictatorships there. This resulted in the death of over 75,000 people.
Bain Capital recently bought the Sensata plant in Freeport, Illinois. The company was profitable and competitive, but Bain Capital decided to move the plant to China and lay-off all the American workers. To add insult to injury, Bain Capital then brought over Chinese workers and made the soon-to-be-laid-off American workers train their replacements. The American workers had to watch people dismantle their factory and ship it, piece by piece, to China.
Bain Capital bought HCA (Hospital Corporation of America) after HCA settled with various government agencies for over $2 billion dollars due to a massive medicare fraud settlements. HCA seems to have not changed its ways. Recently, whistleblowers have revealed that, under pressure for profits and high returns on investment, HCA doctors misdiagnosed heart conditions and performed unnecessary heart surgeries in order to drive up business at several of its hospitals. After the whistleblowers exposed these dangerous and unnecessary surgeries, HCA fired them.
Earlier this year a Bain Capital subsidiary, OSI (Carabba’s, Outback Steakhouse, Bonefish Grill, Flemmings, and Roy’s), tried to push a bill through the Florida Legislature that would cut server’s pay in half from $4.65 an hour to $2.13 an hour. Bloomin’ Brands (formerly OSI) made millions this year after a successful IPO on the New York Stock Exchange, all the while advocating to reduce worker’s pay.
In 2010, the DeepHorizon oil rig spilled oil over the entire Gulf Coast. Fish, birds, and other dead animals started washing up on shore. BP had hired Bain Capital to give financial advice on how to cut costs and raise profits. Bain advised BP to make major cuts in safety-related expenses. Regulators cited these very cost-cutting measures as the main cause of the disaster.
Mitt Romney co-founded, served as CEO, and continues to own a major stake in Bain Capital. With the corrupting influence of money in politics, does it really surprise anyone that Romney is running for President?
We will peacefully protest Bain Capital on August 30th which is the day that Mitt Romney will give his acceptance speech at the Republican National Convention in Tampa, FL. We will use this opportunity to protest and raise awareness about Bain Capital’s business practices. Hopefully this will pressure Bain Capital to behave ethically.
This statement reached consensus by the Occupy Tampa General Assembly on 8/17/2012.
Some Bain Capital Companies:
Carrabba’s Italian Grill
Fleming’s Prime Steakhouse & Wine Bar
Roy’s Hawaiian Fusion Cuisine
Burlington Coat Factory
Clear Channel Communications
Hospital Corporation of America
Michael’s Craft Store
The Princeton Review
Work ‘N Gear