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Obama for America Releases New Television Ad: “Firms”

Obama for America Releases New Television Ad: “Firms”

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Published by: TIMEThePage on Jul 14, 2012
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05/13/2014

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Obama for America Releases New Television Ad: “Firms” 
response-bounces@barackobama.com on behalf of Obama for America Press[press@barackobama.com]
Sent:
Saturday, July 14, 2012 6:27 AM
To:
Obama for America Press [press@barackobama.com]
 
For Immediate Release:
Saturday, July 14, 2012
Contact:
Obama for America Press (312) 985-1198 
Obama for America Releases New Television Ad: “Firms” CHICAGO, IL --
Obama for America released a new television advertisement today titled “Firms”that highlights Mitt Romney’s record of shipping jobs overseas and owning offshore accounts inforeign tax havens. As a businessman, Romney shipped jobs to Mexico and China. As a governor,Romney outsourced jobs to India. And as a presidential candidate, Romney should explain to theAmerican people his mysterious corporation in Bermuda, his funds in the Cayman Islands, and theSwiss bank account he opened. “Firms” will air in Colorado, Florida, Iowa, North Carolina, New Hampshire, Nevada, Ohio,Pennsylvania, and Virginia. Please click 
HERE
to watch the new ad. 
ADBACK-UP
VO:“I’m Barack Obama and I approve this message 
Visual: Approved by Barack Obama. Paid for byObama for America
 VO:ROMNEY: “O beautiful, for spacious skies…” 
Visual:The Villages, FL 1/30/12
 VO:“For amber waves of grain…” “For purple mountains’ majesty…”
 AS CEO ROMNEY’S BAIN CAPITALSHIPPED JOBS TO CHINA AND MEXICO 
Obama for America Releases New Television Ad: “Firmshttps://nycowa2.timeinc.com/owa/?ae=Item&t=IPM.Note&id...1 of 107/14/12 7:15 AM
 
 
Visual: In business, Mitt Romney’s firms shipped jobs to Mexico.
 
Securities and Exchange Commission, 3/26/93,3/29/02 Los Angeles Times, 6/2/00
HOLSON BURNES OUTSOURCED PHOTOFRAME MANUFACTURING TO CHINA,OPENED SOURCING OFFICES IN TAIWANAND HONG KONG, AND SHIPPED WORK OVERSEAS FROM ITS RHODE ISLANDPLANT 
Holson Burnes Outsourced “Approximately75 Percent Of It Photo Frames” To “FarEastern Countries,” Including China AndOpened Sourcing Offices In Both Taiwan AndHong Kong.
“The Company outsourcesapproximately 75 percent of its photo frames andfabricates and assembles the balance in its RhodeIsland facility. The Company maintains foreign production arrangements with over 35 supplierslocated in Far Eastern countries including China,Taiwan, Thailand, Indonesia and Malaysia. TheCompany has significantly strengthened itsrelationships with these sources in recent years by establishing sourcing offices in both Taiwanand Hong Kong.” [Holson Burnes, SEC Form10-K, 3/26/93] 
Holson Burnes’ Clock-Making DivisionShipped Work Overseas.
“The cost-cuttingcontinued at Holson Burnes. By 1992, thecompany manufactured nearly 75 percent of its photo frames overseas, according to documentsfiled with the Securities and ExchangeCommission. One of the company’s clock-making divisions also shipped work overseasfrom a Rhode Island plant.” [Associated Press,12/19/11] SMTC CORP CLOSED A PLANT IN DENVER AN MOVED PRODUCTION TO MEXICO 
June 2001: SMTC Closed A Facility InDenver, CO And Moved Operations To Its“Lower Cost” Facility In Mexico.
“In June2001, we closed our assembly facility in Denver,Colorado, leaving in place a sales and marketing presence to service the Rocky Mountain Region.Production at the Denver facility, one of the last
Obama for America Releases New Television Ad: “Firmshttps://nycowa2.timeinc.com/owa/?ae=Item&t=IPM.Note&id...2 of 107/14/12 7:15 AM
 
remaining SMTC sites not recently refurbished,has been migrated to SMTC facilities closer tocustomer locations and to our recently retrofittedand expanded lower cost Chihuahua, Mexicofacility.” [SMTC Corp., SEC Form 10-K,3/29/02] 
·
 
3/30/01: SMTC Announced It WouldClose The Denver, CO Plant And MoveProduction To Chihuahua, Mexico.
“Tooffset losses, SMTC will close an assembly plant in Denver and take a one-time chargeof $15 million to $20 million. Productionfrom Denver will move to Chihuahua,Mexico.” [TheStreet.com, 3/30/01] 
·
 
SMTC Eliminated 429 Jobs In DenverFrom The Plant Closure. “
During 2001, inconnection with resizing due to the downturnin the technology market, we eliminated 429employees at the Denver facility which wasclosed in June 2001, 26 plant and operationalemployees at the Haverhill facility whichwas closed in September 2001, 915 plant andoperational employees at the Mexico facility,47 plant and operational employees at theCork, Ireland facility and 68 plant andoperational employees at the Donegal,Ireland facility.” [SMTC Corp, SEC Form10-K, 3/29/02] 
·
 
2001: Bain Capital Held Approximately12.9% Of SMTC And Had ThreeMembers On The Board, More Than AnyOther Investment Firm. “
Investment fundsaffiliated with Bain Capital, Inc., investmentfunds affiliated with Celerity Partners, Inc.,Kilmer Electronics Group Limited andcertain members of management heldapproximately 12.9%, 12.1%, 7.1% and13.2%, respectively, of our outstandingshares as of March 16, 2001. In addition,three of the nine directors who serve on our 
Obama for America Releases New Television Ad: “Firmshttps://nycowa2.timeinc.com/owa/?ae=Item&t=IPM.Note&id...3 of 107/14/12 7:15 AM

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