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Saturday, June 23, 2012

Romney and Bain- not taking credit for smart decisions: export jobs and pollution, import products and increase profits

Romney’s Bain Capital invested in companies that moved jobs overseas - The Washington Post: "One of those was a California bicycle manufacturer called GT Bicycle Inc. that Bain bought in 1993. The growing company relied on Asian labor, according to SEC filings. Two years later, with the company continuing to expand, Bain helped take it public. In 1998, when Bain owned 22 percent of GT’s stock and had three members on the board, the bicycle maker was sold to Schwinn, which had also moved much of its manufacturing offshore as part of a wider trend in the bicycle industry of turning to Chinese labor."

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