mitt romney created bain capital and the model it uses today.eves in outsourcing and he's done nothing to help the workers of freeport. romney also has $8 million worth of bain funds, so when bain profits off of outsourcing, so does mitt romney. meanwhile, sensata has released their third quarter financial statement. not the second. now the third quarter statement is out. we told you about the second quarter on friday night. now the third quarter shows they're doing just fine. sensata made more than $470 million in net revenue during the third quarter of this year, 2012. unfortunately, this number isn't good enough for the vultures over at bain capital. they're still shipping the sensata jobs to china, to the folks who will make maybe about $1 an hour. joining me tonight is leo gehrard, president of the united steelworkers international. mr. gehrard, good to have you with us tonight. the threats that are being made by the management of the bain, they actually came from the east coast and went to freeport, illinois, and met with the mayor and the

down without a fight workers have been holding rallies outside the factory for weeks prompting bain capital on tuesday to issue a threat that protests continue than bain would have immediately shut down the plant in response on wednesday workers filed unfair labor practices charges against in sabah and then attempted to march to the facility to demand a meeting with the plant manager the reverend. jackson joined with the workers in the march but he had thirteen others were arrested outside the plant workers have been pleading with mitt romney to use his influence to prevent the closing of the factory or romney hasn't said a word although according to his two thousand and eleven tax returns he still owns stock in the company and stands to profit from those outsourcing of these sensitive jobs joining me now by phone for the latest out of freeport illinois and what's inside the means for the rest of us is joanne penicillin and saddam floyd and one of those who was arrested yesterday joanne welcome thank you. please describe what happened yesterday that led to your arrest. was i had been in a m

bain capital took control of sensata technologies back in 2006. he new york times" reports the company's stock has quadrupled in value. bain purchased the plant here in freeport in 2010, and at the very first employee meeting, bain told the workers that they were going to close up shop and move the plant to china. they didn't even give these workers a chance to be profitable even beyond what they have been profitable. it didn't matter how well they performed. they were done. it was over. so the city of about 25,000 people is closing what is really considered in this town a major employer. bain is killing 170 jobs. you might think, well, that's not that many, ed. in a town like this, it's huge. the americans, you know what they did? these workers? they had to train the chinese replacements. the equipment, where is it? it's on its way to china. now, the employees have been protesting for months. the freeport city council sent a formal request, a formal request to mitt romney asking for help. they got no response. and it's no wonder, bain capital has

their plant is owned by bain capital. stay with us. ♪ [music break] >> bain and company annual meetings, known as the bain band. this is "democracy now!," democracynow.org, the war and peace report. i'm amy goodman with nermeen shaikh. we're going to talk about what is happening in illinois. three protesters were arrested for blocking the path of trucks leaving a freeport, illinois plant set for closure by bain capital. the protesters began the blockade earlier this month to stop the removal of equipment from their workplace. workers at sensata technologies have set up a three week encampment called bainport across the street from the plant to protest plans to close at it and move it to china, taking 170 jobs with it. sensata is owned by bain capital, the private equity firm co-founded by republican presidential nominee mitt romney. the workers said they plan to continue the blockades of trucks removing their equipment. "democracy now!" for spoke to the workers at the republican national convention in tampa, florida, wher

bain capital. of course bain capital no longer man ages bain today. would it surprise you to learn he owns stock in the company. he had at least enough stock in the company that he was able to transfer more than $200,000 worth of shares so a foundation that he controls. for more on the human cost i'm joined by freeport illinois mayor. thank you so much for joining us inside "the war room." >> thank you for the opportunity. >> let's just start with us how important are these jobs to the town of freeport? >> we have strides of retention of jobs in free port but when you have 170 jobs leaving our city, it negates everything we have created so hard to create opportunities for people in our community. >> jennifer: how big is freeport? >> 26,000. >> jennifer: so you have spent a lot of time with the workers from the plant, you spent a lot of time with them at their encampment? >> yes. >> jennifer: it is true they had to train their chinese replacements. >> yes, the current engineers were to train the engineers for china. >> jennifer: obviously that is diffi

bain capital owns 51% of the company, but he still has a $8 million stake in bain capital so there ist association between mitt romney and bain capital there always will be. we have dave johnson joining us from san francisco at our studio there, and you've been following this story for the "huffington post," dave, thank you for being on the show. these are real people. you hear about the jobs, and you hear about the numbers. when you hear about a small story about a big story it always hits home. >> michael, this is a compelling story, and it really is the center of this election. the company makes auto sensors for the automobile industry, and this is a key component for the automobile chain. they're hawking this key component up right now and sending it to china. they made the workers at this plant train their chinese replacements and they took down the american flag while those workers were here. bain capital controls this company. i encourage anybody watching this to go to bainport.com. that's where the workers have a website to support all this. they're trying to block the trucks

they spent a fortune on attack ads focusing on bain capital. now, the fact is that there were a lot of inconsistencies and some of the facts were a little fuzzy in these ads. i guess priorities u.s.a. feels like. >> bill: they don't really care. they are trying to get to the regular working class folks saying this guy doesn't care about them, this guy being mitt romney. >> they ran the effective staged ad. >> bill: also had the garbage collector out in san diego saying mitt romney didn't say hello to him. >> felt the stage ad. built the stage bain capital came out and fired him at his factory. it was an effective ad. >> bill: do you know hot people are who appeared in the ad. >> just regular folks who were working at, you know, factories or places that bain capital had owned. >> bill: these are legitimate people. >> these are legitimate people. interestingly though, i was reading so. bios, one of the guys there, originally an obama fan, not a fan at all. he doesn't like him at all. >> bill: why would he do an ad like that? >> get about 15 minut

part of the thirteen to twenty million bucks a year that mitt romney gets as his dividends from bain capital will not include money from since. it's totally denied that they were profit and not all from from this. well why why would they do it if they're if if bain isn't profiting from it he's making millions of dollars a year from bain so it seems like it's all the same pool any i dedicate thanks for being with us so much tonight you're very welcome thank you for having me. thank you. coming up our phone lines are now open for our your take my take a live segment so if you want to chance to ask me a question live on the big picture read about global warming or the stone x.l. pipeline or since or bain or mitt romney or what you think's going to happen the election whatever may be on your mind give us a call it two zero two nine zero four twenty one thirty four and maybe i'll be talking with you right after the break. while. their show. was a matter you. missed the residue never profited from the performances you'll see him coming all sinners get there if you look up and there's one tacking o

bain capital owns sensata plant, closing their plant and moving to china.y with us. ♪ [music break] >> this is "democracy now!," democracynow.org, the war and peace report. i'm amy goodman. as returned to freeport, illinois, where six more people have been arrested protesting plans by mitt romney's former company bain capital to shut the sensata technologies plant and the operations to china. 170 jobs will be lost. on wednesday, six community supporters were arrested in the lobby of the plant during a sit- in demanding full severance pay for those who lose their jobs. we turn to tom gaulrapp, one of the workers will lose his jobs. thisws last week when people laid down on the road to stop machinery from the plant from being moved out of the sensata technologies plant owned by bain capital. can you give us the latest? >> good morning. excuse me, i have lost my voice. yesterday, six community members who support us completely walked over to the planned and had with them the petition the employees had signed requesting that we receive full severance. they aske

and bain capital was born.ner jeffrey rennart. >> well, it was a lot of long hours, a lot of late nights and a lot of learning but a lot of success. >> so what kind of a leader was mitt romney during those early years? >> i would say in the early years mitt was a lead-by-example kind of leader. he -- you know, he dug in, you know, did analysis side by side with us. >> and it paid off. bain capital invested in more than 100 companies, nearly doubling its returns for clients annually. >> how you doing? >> romney made a lot of money, and he would later claim created a lot of jobs. but a former bank colleague, who talked off camera about whether the company's emphasis was on job creation told cnn, quote, we were in the business of creating value for investors. >> was job creation or making money the goal? >> well, every business is organized to create a return for the people who invest in the business. and as businesses are successful and profitable, they're able to hire people. and they can hire more people the mo

the fact of the matter is, look at bain capital. they did things that led to staples, which is venture capital. these are the people around bain capital. there's too much risk. the returns took too long to come back. they moved to private equity. >> let me tell you -- >> they did -- i want to establish this factually. they changed the business model. >> i don't think it's true. >> it is true. >> chris, let me give you a specific story. my son works for a company called kiva systems funded by bain capital ventures. they have a major venture capital. they are in the business of robotic warehouses. they are good not because they eliminate associates, they eliminate workplace injuries. the company was acquired by amazon.com. they thought it was the best way to run a warehouse. it was a bain capital ventures company started three years ago as innovative company where we can lead the world, sell systems around the world and create jobs. >> i think one of the questions is, what policies will mitt romney put in place that would then create a

he never mentioned the 47% or bain capital. never mentioned any war on women.the democratic faithful wanted to hear, he didn't say eye have a theoro that, as a lawyer, you don't want -- you don't want him to look dirty and get in the gutter and start to push those buttons. he has all of those ads out there, everybody's going to be hearing that, he has the super pacs, why get his hans dirty? >> they could say that. but i asked david plouffe that. i asked, how come you didn't use it? sometimes things come up and sometimes they don't. they had no explanation. clearly obama made a choice not to use these things that his campaign has been using every day. >> look at today, david axelrod on the phone call said, in effect, we want to talk about the things that the voters really care about, he talked about substance. it's harder for the president to bring this up in the next debate ora campaign to focus on the 47% or the bain capital, or the things that david axelrod has said by implication, voters really don't care. >> greta: we will take a break. democrats insist it

bain capital it is an investment partnership which was formed to invest in startup companies and ongoing companies then to take an active hand in managing them and hopefully five to eight years later to harvest them at a significant profit today one of those companies getting harvested is sensitive technologies in freeport illinois despite being more profitable than ever since saddam's american factory is currently being taken apart with its components being shipped off to china and all of its one hundred seventy workers set to lose their jobs at the end of the year replaced by chinese workers that's the decision being made by bain capital which own since saddam workers at the factory have been begging mitt romney to intervene to save their jobs. but he won't he and the other corporate outsourcers are committed to getting all the short term profits they can even though it means the long term death of the american economy welcome to third world america courtesy of reagan's clinton's and bush's embrace of so-called free trade something being continued tragically now by the obama administra

sata technologies a technology company with a factory in freeport illinois since saga is owned by bain capital the billion dollar pirate equity firm started in for mostly by mitt romney bain is now closing that freeport factory and outsourcing the jobs there to china something mitt said the debate isn't even though it's possible i guess in a move that hasn't sat well with some sata employees and the local community yesterday workers as inside along with other protesters tried to block a truck from removing equipment from the factory and during that blockade three protesters were arrested joining me now via skype is one of those protesters who was arrested since sought employee debbie kemp and debbie welcome hello mr hartman how are you i am i am great thank you for joining us how many people showed up at the protest this in saudi yesterday olive's county about a total of. maybe fifteen and so is it was there an expectation of being arrested. you know we kind of we went into. testing thinking that that was a possibility we had a child of all the staff to chalk a week ago last monday and nothing

us a call it to go to four twenty one thirty four also like father like son mitt romney founded bain capital so son tagg romney had to start his own little shady pirate equity firm to what's the story behind solo marriage capital and what role is a plane in mitt romney's presidential campaign. welcome to your take by take live our phone lines are now open so if you want to tell me your opinion make a comment shouldn't romney be arrested for buying votes ask a question live on or give us a call into a two nine zero four twenty one thirty four so the first caller the night mariana bethesda maryland a mary ann thanks for calling hello tom you've been doing some wonderful program to advance the corruption gate by laurie corp however they couldn't be getting away with it without a correct court so why don't you do some program kamakura kuharich that's an excellent question marianne thank you for calling i appreciate your raising the topic in fact if you go back in one nine hundred seventy three when louis paul wrote this memo and gave it to his best friend next door neighbor the head of the u.s.

not a single one of his friends in his crowd at bain capital, outside of bain capital believes that it'sto do to declare china a currency manipulator on day one. i have talked to many of them and they scoff at it behind his back and they know that he's just saying this to get elected president but ots not going to work because so many ohio jobs are dependent on chinese investment and people know that in other cases, as in sensata, he has willingly been part of jobs that shipped jobs overvaes. >> i don't disagree with you, there's no question that the chinese economy and the american economy are like hand in glove when you look at the steel dumping when you look at what china does to its currency, let's call a spade a spade, they do manipulate their currency and when it comes -- they are not a fair trading -- >> they do and when they do things like what they did with tires, president obama was right to blow the whistle on -- >> steel dumping, go down the list. >> that has to go to negotiations. they need to be called on this. i'm not suggesting that china be given a pass on all of its con

extra ten million dollars in his pocket it's what mitt romney did to businesses taken over by bain capital it's what they needed at merrill lynch and it's what they both will do to america should mitt romney win in november now for his take on this i want to turn it over to neil aspirate host of truth for america and author of conscientious equity you know welcome back to the program. tom thanks for having me does it embarrass you great to have you with us does it embarrass you as a republican that romney wants to nominate a bailed out banks or as treasury secretary. i mean there's so much going on and what you just said but first of all mitt romney is quite far from being elected so we're not going to know who was treasurer treasury secretary is going to be for a long time but we do know who broke obama's treasury secretary is and he is one of the most incompetent treasury secretaries that we've ever had i mean we've spent trillions of dollars on this so-called economic recovery there's no jobs to be found there's no recovery to be found for unsteady four and a half million jobs as i said

when i found out that he owned bain capital and bain capital owned sensata i was furious. >> what do you think when you see him talk about american jobs on the campaign trail and talk about our economy yet this is happening? >> to be honest with you, he's a bold-faced liar. he's going out there saying i'm going to create american jobs when, no, he's not. he's profiting off of jobs going overseas. >> what was it like to have the chinese workers come learn to do the jobs that your workers were doing? >> it was hard. having to train somebody to take your job and you don't have any control over it, that was probably the hardest thing i've had to do. >> did they really take down the american flag and put up the chinese flag? >> they didn't put up the chinese flag. we put it across the street in bain port. >> what's going to happen to freeport, illinois? >> it's going to become a ghost town. that's one major company in freeport. we only have two sole big companies. and once this one goes down, i mean, it's going to be hard for anybody to find a job because there's nothing around there. >>

the former managing director of bain capital says romney was directly responsible for ampad's layoffs, but he knew where the money was, didn't he? mitt romney did the same thing to this company, gst steel. bain emerged, he went ahead and put it together with another steel maker in south carolina. by 2001, gst steel was bankrupt. and another 750 americans were out of a job. bain made at least, let's see, $12 million on the acquisition and collected $900,000 a year in what they call consulting fees, when some guy calls you up, what do you think we ought to do? fire the workers, send the jobs to china and take the freaking money. are we starting to see a pattern here? bain acquired ddi while romney was in charge in 1997. the company made electronic circuit boards. filed for bankruptcy in 2003. some of the employees were offered transfers but at least 2,100 out the door. gone. now, to be fair, romney was not on the board of directors when ddi went under, but his company made about $36 million on that deal. cambridge industries is also a good example of another company losing money while m

bain capital is responsible for this. bain capital. not only that, al, they came in and there was an american flag that was in that plant. they took down the american flag and raised the chinese flag. that's not the kind of america we want to be. that's not what barack obama and joe biden stand for. but this is bain capital doing that. there's got to be a connection between bain capital and mitt romney. >> they hung these workers are going to be laid off. i was talking to the president of the union the other day about this. we've got to talk about these issues. we've got to make sure that people understand the direction that mitt romney and paul ryan want to send this country. >> listening to lee, i'm reminding about the role that labor unions have played in this election. i don't think we talk about it as much as we should. it's very clear, for years of analysis, the impact of unions in the economy, one of the things unions do very well is they help ensure a more equitable distribution of the growth that their members, our workforce a

because the way we look at it is that the bain capital board has made their decision. s made his decision. the only person who can affect this is the largest shareholder in bain, who's mitt romney. he had the nerve to stand up in janesville, wisconsin, less than an hour drive behind us and stand behind a podium and say jobs are a top priority and talk about getting tough on china and his company that he's the only ceo they've ever had is moving it there, is moving my job to china and 169 other people. you know, they're destroying our american dream purely for greed. and it's just absolutely outrageous and the hypocrisy of this man and the people that are elected is just mind boggling. >> i want to zoom out a little bit on this discussion. because what's happened to you has happened to companies -- has happened to workers all across the country. >> exactly. >> put it in context what the obama administration is on this. we'll have that right after we take a break. [ to the tune of "lullaby and good night" ] ♪ af-lac ♪ aflac [ male announcer ] find out more at... [ duck ]

what was bain capital?ly go and close down these companies and extract the assets, and did he ship jobs offshore? i think people need to know that. it seems to me that it is certainly worthwhile debating. american people like to believe that their leadership, and certainly the president of the united states respect american companies, respect the workers in these companies, and who are looking out for the best outcomes for workers who get up every day and go to work and work hard. they want them to have a decent wage. they want them to have pensions. they want them to have benefits. this is what romney is not about. this is a man whose company bought companies in china where they paid people $0.24 an hour. this is a company who shipped jobs off shores. what adds insult to injuries, while americans are working hard and dealing with our financial institution, he actually took his money offshore and put them in banks to avoid paying taxes? if that's something that the american people should know about, then i