Bishop Calls on Altschuler to Dump Outsourcing Stock

Tim Bishop for Congress
Tim Bishop for Congress

FARMINGVILLE, N.Y.—Congressman Tim Bishop called on Randy Altschuler to divest all of his outsourcing holdings today, after Altschuler disclosed having as much as $550,000 invested in outsourcing companies.

“In 1999, Randy Altschuler made the choice to bet against the American worker. He founded a company that sold companies on the idea of firing Americans so he could ship their jobs to low-wage countries,” Bishop said. “Even after selling that company for hundreds of millions of dollars, he’s still invested in outsourcing. If Altschuler wants to earn the respect of Long Islanders, he should put their interests before his own and divest his outsourcing holdings.”

Altschuler founded OfficeTiger, a company that specializes in teaching American companies how to outsource good paying jobs to India, and other low-wage countries. He later served as a director of GlobalLogic, a company that outsources engineering and research jobs to those same low-wage countries. He currently owns as much as a half-million dollars in GlobalLogic stock. He also still holds as much as $50,000 in R.R. Donnelley debt—the company that acquired OfficeTiger for $250 million in 2006.

“Altschuler was an outsourcing pioneer,” Bishop said. “Now it is glaringly obvious that he never even considered leaving the outsourcing industry, even as he hopes to represent American workers. Altschuler wouldn’t hire a Long Islander, but he expects them to hire him.”

The Bishop campaign also launched an online petition asking voters to tell Altschuler to stop outsourcing our jobs. That petition is found here: