The Washington Post Says Mitt Romney Outsourced Jobs….Or Maybe Not

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Glenn Kessler of the Washington Post dings the Obama campaign today for claiming that Bain Capital “shipped jobs to China and Mexico” while Mitt Romney was CEO:

Upon hearing this ad was under consideration for a tough rating, the Obama campaign supplied reams of additional SEC documents regarding Romney’s ownership in Bain after he left for the Olympics, most of which we had examined previously when we first looked at this question. The campaign also supplied SEC documents showing that two of these companies, Modus and SMTC, as well as one called Stream International (a predecessor of Modus), earned money in part by helping other companies subcontract work overseas. Some of this business predated Romney’s departure from Bain, but thus far it seems a slim case for this particular ad.

Twelve hours later, Tom Hamburger of the Washington Post filed a story suggesting the case isn’t so slim at all:

A Washington Post examination of securities filings shows the extent of Bain’s investment in firms that specialized in helping other companies move or expand operations overseas.

….Bain’s foray into outsourcing began in 1993 when the private equity firm took a stake in Corporate Software Inc., or CSI….Two years after Bain invested in the firm, CSI merged with another enterprise to form a new company called Stream International Inc. Stream immediately became active in the growing field of overseas calls centers….By 1997, Stream was running three tech-support call centers in Europe and was part of a call center joint venture in Japan, an SEC filing shows.

….The corporate merger that created Stream also gave birth to another, related business known as Modus Media Inc., which specialized in helping companies outsource their manufacturing….According to a news release issued by Modus Media in 1997, its expansion of outsourcing services took place in close consultation with Bain.

….Another Bain investment was electronics manufacturer SMTC Corp….The company said that communications and networking companies “are dramatically increasing the amount of manufacturing they are outsourcing and we believe our technological capabilities and global manufacturing platform are well suited to capitalize on this opportunity.”

So who’s right, the Washington Post or the Washington Post? I excerpt, you decide.

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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