Apparently it has escaped the notice of politicians and bureaucrats that the interests of contractors are not the same as the interests of their customers. The contractor wants to make lots and lots of money. The contractor wants to make the customer happy, so it tells the customer whatever it wants to hear: oh sure, we can do that; or oh sure, that’s a great idea, you must be very smart to have thought of it; or I’m sure you’ve heard about the steps being taken by your competition, but fortunately we can stop them. The contractor has no interest whatsoever in completing the work, because that stops the money flows.
|By: masaccio Friday July 5, 2013 3:30 pm|
|By: cocktailhag Thursday January 31, 2013 8:00 pm|
Back in the 90′s, I spent a summer in Seattle working on a project with a former Boeing engineer, and I remember being astonished (and a little alarmed) when he told me about working on the 747 line. “That plane’s been in production for over twenty years, and there are still hundreds of parts that don’t fit together,” he told me, “The guys on the line know exactly where you have to re-drill a hole or just bang the thing together with a mallet.” We were remodeling a house at the time, so I could sympathize, but with a key difference: houses don’t have to fly through the air with hundreds of passengers (and screaming babies) on board.
|By: Todd Tuesday October 23, 2012 4:13 pm|
Like most great American tragedies, this is a story that has ramifications for every American. It’s a story about why the American middle class is failing but it is also a personal tragedy about American workers losing high-tech high paying manufacturing jobs to outsourcing and it’s about a town and workers lives being destroyed for decidedly unAmerican profits. The story is also a microcosm of how the super wealthy, such as Mr. Romney in this case, profit from destroying the wealth of the middle class by replacing American jobs with cheap ( $1.35-99 cents/ hour) labor that works 135 hours per week.
|By: David Dayen Monday July 16, 2012 7:00 am|
It seems to me that Ed Gillespie made the mistake of telling the truth yesterday about Mitt Romney’s departure from Bain Capital. He said that there “may have been a thought at the time that it could be part time, but it was not part time,” and that “He took a leave of absence and in fact he ended up not going back at all, and retired retroactively to 1999 as a result.”
This is probably exactly how it went down.
|By: David Dayen Wednesday June 27, 2012 3:30 pm|
Last week, the Washington Post published an item about Mitt Romney’s time at Bain Capital, and how the firm owned several companies that engaged in the practice of shipping American jobs overseas. The Romney campaign’s initial reaction was almost comical – they claimed that the story didn’t differentiate between outsourcing and offshoring, both of which can involve the removal of jobs from the United States to areas overseas. The Romney people sought a meeting and a retraction, but after the meeting WaPo said no retraction.
|By: David Dayen Monday June 25, 2012 10:00 am|
First there was the Tom Hamburger story in WaPo showing that Bain specialized in investing in companies that shipped away American jobs. Then, the New York Times explained how the relative health of the companies in which it invested didn’t matter to their bottom line. Now the Boston Globe has a story on Mitt’s dealings with the firm headed by junk bond specialist (and convict) Michael Milken.
|By: David Dayen Friday June 22, 2012 12:02 pm|
The big story of the day is a deeply reported piece by Tom Hamburger, showing that Mitt Romney’s Bain Capital in many ways invented the cottage industry of shipping US jobs overseas.
|By: Jane Hamsher Tuesday November 8, 2011 11:31 am|
We’ve been working hard behind the scenes for the past few weeks with FDL members on the OccupySupply program. So far the FDL Membership Program has raised $83,583.88 and spent $42,833.96 on supplies, and we are proud to report that union made hats, scarves and socks are now on their way to 40 Occupations across the country.
|By: Phoenix Woman Saturday November 5, 2011 8:00 pm|
A few odds and ends from the week just past.
|By: David Dayen Tuesday April 19, 2011 4:33 pm|
I wonder if someone can sketch out for me a vision of America as an economic superpower with no jobs other than finance and the low-wage service sector, with a hollowed-out industrial base, and with its largest corporations replacing jobs at home with jobs overseas. It may make sense to those individual companies, but I’m straining to see how it makes sense for the mass of workers in this country.