Monday, November 19, 2012
The economics of Bain, cheap profits
Despite the hard work of the 170 employees who helped build the company, their jobs are being sent to China. (The factory is set to close December 2012). The move of the factory from Freeport Illinois to China is projected to generate modest profits for Bain partners. Additionally under current corporate taxes laws, they will get a small tax break for relocating to China.
(US workers protesting a factory closing, moved to China)
Companies that send US jobs over seas should not get any tax breaks. Additionally, it is projected that some taxes will be deferred on income generated over seas. The fact that some US companies have no goodwill towards it workers should not be over looked. The executive teams, stock holders, and investors who influence these decisions need to be held accountable. US workers and citizens need to continue to protest such actions, publicize such actions, and vote with your dollars where possible. As people who are being affected by such decisions say, "enough is enough".
In the current economic climate, the US economy needs to produce more jobs and sustain growth. We need to support corporations that value their workers as opposed to those who value cheap profits at the expense of the US as a whole.