No, Romney Didn’t Leave Bain in 1999

[jaxx]

Josh Marshall July 10, 2012, 12:55 PM

A central element of the 2012 campaign cycle has become just when Mitt Romney left Bain Capital. The Romney campaign says he left in early 1999 — in time to get him off the hook for some controversial investments. Factcheck.org backs up Mitt while David Corn and the Obama campaign have brought forward numerous pieces of documentary evidence indicating he didn’t leave until a couple years later.

The gist of the disagreement comes down to this: There’s no question that numerous public filings and some contemporaneous press references say Romney was still running things at Bain after 1999. But his campaign insists that whatever securities filings may have said, in practice, he was so busy running the 2002 Winter Olympics that he actually had no role at Bain after early 1999. That’s possible in theory. But there’s no evidence for it besides self-interested claims by Romney. And there’s plenty of documentary evidence to the contrary. After all, what you tell the SEC is really supposed to be true.

<..> Here are two SEC filings from July 2000 and February 2001 in which Romney lists his “principal occupation” as “Managing Director of Bain Capital, Inc.”



http://www.sec.gov/Archives/edgar/data/1...9-0001.txt

http://talkingpointsmemo.com/archives/20...n_1999.php

Once again, it shows Willard in charge. How will he lie out of this?

[suzie]

Don't you have to put your occupation on IRS forms?

So, is this a reason not to release one's tax forms?

[pappy]

(07-10-2012 01:38 PM)suzie Wrote:  Don't you have to put your occupation on IRS forms?

So, is this a reason not to release one's tax forms?

Not just occupation but sources and types of income. If he received a regular salary from Bain in addition to the capital gains he has mentioned after 1999 then it becomes proof that he has been lying.

[Treestar]

Good job on the campaign's part.

[jaxx]

http://www.scribd.com/fullscreen/78582788

Here is the McCain vetting of Willard Mitt Romney in 2008 if anyone would like to look through it again. It is interesting.......

P 132:
Romney Served As CEO Of Bain Capital Through August 2001, Even Though He No Longer Ran DailyOperations.
“Although he gave up running day-to-day operations at the venture capital firm in order to head theSalt Lake Winter Olympics, he remained CEO and held his financial interest in the company through August2001.”
(Stephanie Ebbert and Yvonne Abraham, “Camps Spar Over Romney Word Choice,”
The Boston Globe
, 10/31/02)

P 137:
As CEO, Romney “Insisted On Having Almost Dictatorial Powers. … That Was Essential.”
“The Boston-based venture capitalist likes to be in control. ‘(At SLOC) I don’t have the kind of control I’m used to in thebusiness world,’ he said. ‘When I was involved in (the resurrection of the beleaguered international firm BainConsulting), I insisted on having almost dictatorial powers. … That was essential.’”
(Lisa Riley Roche, “Mitt ExemplifiesThe New Openness Sought For SLOC,”
Deseret News
, 2/12/99)

P 138:
“Like Religious Zealots … Business Is A Holy War That The Client Must Win And The CompetitionMust Lose.”
“Notoriously secretive about itself and its work for clients, Bain has over the years been labeledthe ‘KGB of Consulting,’ or a ‘Moonie commune’ run by the ‘Reverend’ Bain. Bain consultants seempossessed by a mission to increase the ‘total economic value’ of their clients. Like religious zealots, theysingle-mindedly dedicate themselves to improving their customer’s competitive position. Business is a holywar that the client must win and the competition must lose.”
(Nancy Perry, “A Consulting Firm Too Hot To Handle?”
Fortune
, 4/27/87)



“Stand Aside, Asshole. Here We Come.”
“The real problem for Bain & Co., though, may be the firm’stendency to alienate and weaken lower-level managers at the companies where it works. … Notes thechairman of another management consulting firm: ‘Their product is brilliant. It’s the package that has been aproblem. Five million Bainies saying, ‘Stand aside, asshole. Here we come.’”
(Nancy Perry, “A Consulting Firm TooHot To Handle?”
Fortune
, 4/27/87)

http://www.scribd.com/fullscreen/78582788

[Treestar]

Dictatorial powers he needs. That could prove interesting. How can he get anything done as President then? He's the one who says his business-running experience is relevant.