Bain Press Release Described Romney as 'Part-Time' CEO in July 1999

Bain Press Release Described Romney as ‘Part-Time’ CEO in July 1999

Evidence of continued involvement

PoliticsJuly 2012 • Views: 35,372

An interesting find on the Bain Capital controversy, from Jed Lewison: Bain Capital Press Release Described Romney as ‘Part-Time’ in July, 1999.

A July 19, 1999 press release distributed on behalf of Regan Communications and Bain Capital described Mitt Romney as the “Bain Capital CEO” and said he was “on a part-time leave of absence to head the Salt Lake City Olympic Committee.”

The press release, which announced the creation of a new private equity firm by two of Bain’s managing directors, included a quote from Romney giving his blessing to the new venture. “While we will miss them,” Romney said, “we wish them well and look forward to working with them as they build their firm.”

The press release, which was obtained through a simple Nexis search, is posted in full below the fold. It appears to contradict claims by both Romney and Bain that he had no involvement in the company’s day-to-day operations after February 11, 1999.

UPDATE at 7/13/12 1:43:02 pm

Here’s the actual paragraph from the press release, with the statement from Romney:

Bain Capital CEO W. Mitt Romney, currently on a part-time leave of absence to head the Salt Lake City Olympic Committee for the 2002 Games said, “Geoff and Marc have each made very significant contributions to the growth of our business, and have played important roles in furthering its success. In particular, Geoff, who helped us to start Bain Capital played a key role in building our franchise and led several of our highly successful transactions. Marc brought extensive capital markets expertise to the firm, where he co-headed our mezzanine efforts and played a critical role in conceiving and helping to start Sankaty Advisors, our high yield asset business, which now has over $ 2 billion under management. While we will miss them, we wish them well and look forward to working with them as they build their firm.”

Note that at the time of this statement, July 1999, Romney was obviously still intending to continue as CEO of Bain Capital; he says, “While we will miss them, we wish them well and look forward to working with them as they build their firm.”

Why this matters: Romney claims he made a complete break with Bain in February of 1999, but this press release shows he was still involved in the company’s business in July 1999.

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148 comments

iossarian Fri, Jul 13, 2012 1:11:38pm

And... boom goes the dynamite.

Targetpractice Fri, Jul 13, 2012 1:11:43pm

Yes, but what do the "non-partisan" fact-checkers say?

///

freetoken Fri, Jul 13, 2012 1:12:22pm

For this supposedly be a non-issue, it sure does look like Romney is going to do his best in one night to reach as many people with his side of the story:

Romney to blanket airwaves tonight with interviews on five networks

Charles Johnson Fri, Jul 13, 2012 1:13:18pm

re: #3 freetoken

For this supposedly be a non-issue, it sure does look like Romney is going to do his best in one night to reach as many people with his side of the story:

Romney to blanket airwaves tonight with interviews on five networks

It's a sign of how much it's hurting his campaign -- he's stepping outside the Fox News comfort zone for the first time in a long while.

researchok Fri, Jul 13, 2012 1:13:45pm

All the Romney campaign had to do was answer the question in an upfront way and this would have gone away.

They never learn.

wrenchwench Fri, Jul 13, 2012 1:14:30pm

re: #5 researchok

All the Romney campaign had to do was answer teh question in an upfront way and this would have gone away.

They never learn.

Then he'd have to release his tax returns. I get the feeling he doesn't want to do that.

freetoken Fri, Jul 13, 2012 1:14:38pm

re: #4 Charles Johnson

I maintain that many people will hold Romney accountable for whatever happened at Bain during whatever time he was the owner. Being the owner but claiming "but I wasn't in charge" sounds pretty hollow to most ears, I think.

Targetpractice Fri, Jul 13, 2012 1:14:50pm

re: #3 freetoken

For this supposedly be a non-issue, it sure does look like Romney is going to do his best in one night to reach as many people with his side of the story:

Romney to blanket airwaves tonight with interviews on five networks

Prediction: Romney blames Obama for newest revelations, declares it "dirty campaigning," then proceeds to say how he'd never stoop to such things while members of his party continue to talk openly about how they don't really think Obama's been honest about his birth certificate.

mr.fusion Fri, Jul 13, 2012 1:15:03pm

No matter what else comes out it's too late for Romney to control this

At this point, the only thing your average "independent" voter (soccer moms and dads who get their news by walking past a TV as they're getting the kids ready for school) is going to take from this story is "Romney said he wasn't the CEO but there are documents that say otherwise."

This guy is running just a terrible campaign. They should have never even responded to this story let alone stomping around like an angry 10 yr old

Varek Raith Fri, Jul 13, 2012 1:15:40pm

re: #3 freetoken

For this supposedly be a non-issue, it sure does look like Romney is going to do his best in one night to reach as many people with his side of the story:

Romney to blanket airwaves tonight with interviews on five networks

Why?
Seriously, why?
He'll just dig himself a deeper hole...
*shrugs*

freetoken Fri, Jul 13, 2012 1:16:29pm

re: #10 Varek Raith

Well, I suppose his initial intentions would have been to talk about other subjects, but I really do expect lots of questions about Bain.

researchok Fri, Jul 13, 2012 1:17:25pm

re: #6 wrenchwench

Which is in the end, is really stupid.

No one has accused him of doing anything illegal.

Get it out of the way, say 'Yeah, I'm a rich guy, etc.,

It isn't as if he is the riches guy in politics.

JamesWI Fri, Jul 13, 2012 1:17:31pm

"Oh, but you used a link to DailyKos. Now I have an excuse to ignore all the facts I don't like."

//Kilgore'd

Killgore Trout Fri, Jul 13, 2012 1:17:55pm

re: #2 Targetpractice

Yes, but what do the "non-partisan" fact-checkers say?

///

I can tell you what I think they're going to say: The headline "Bain Press Release Described Romney as ‘Part-Time’ CEO in July 1999" isn't accurate. If you graph the sentence "Bain Capital CEO W. Mitt Romney, currently on a part-time leave of absence to head the Salt Lake City Olympic Committee for the 2002 Games" the descriptor "part time" applies to the leave of absence, not the CEO. My guess is "temporary" leave of absence would have been more accurate.
Also for those who have been going out of their minds over who took over for Mitt after he left....

Geoffrey S. Rehnert and Marc B. Wolpow announced that they have resigned as Managing Directors from Bain Capital, Inc. and will become Special Limited Partners of the firm.

I think that's your answer.

researchok Fri, Jul 13, 2012 1:18:16pm

re: #10 Varek Raith

That is exactly is what will happen.

Take it to any offshore bank.

Varek Raith Fri, Jul 13, 2012 1:18:57pm

He's known for two decades this is a serious political weakness.
Yet, he seems like he never saw it coming...

Charles Johnson Fri, Jul 13, 2012 1:19:10pm

re: #14 Killgore Trout

If he's on a part-time leave of absence, but is still the CEO, that makes him a part-time CEO.

It's perfectly accurate.

iossarian Fri, Jul 13, 2012 1:20:11pm

re: #14 Killgore Trout

If they meant "temorary" leave of absence, why did they say "part-time"? Are you now saying that they misspoke, because what they said doesn't fit your view of events?

Also, what is Romney doing issuing press releases for Bain in July, if he left in February? I thought he had "no involvement" with Bain at that point. Another fact that doesn't fit the narrative you wish to push.

Talk about partisan.

researchok Fri, Jul 13, 2012 1:20:19pm

re: #16 Varek Raith

He's known for two decades this is a serious political weakness.
Yet, he seems like he never saw it coming...

What makes it a weakness is not dealing with it.

Morons.

Mocking Jay Fri, Jul 13, 2012 1:20:44pm

This is great news for Mitt Romney!

Targetpractice Fri, Jul 13, 2012 1:20:58pm

re: #8 Targetpractice

Prediction: Romney blames Obama for newest revelations, declares it "dirty campaigning," then proceeds to say how he'd never stoop to such things while members of his party continue to talk openly about how they don't really think Obama's been honest about his birth certificate.

Oh, and I forgot that he's likely to then declare that this is just proof that "Obama can't run on his record," despite the fact that he's been actively running away from his ever since this story broke.

Blizard Fri, Jul 13, 2012 1:21:06pm

5 network interviews outside of Fox? Boy he sure is a gambling man. What are the odds he'll give the same responses every time? I'm betting on at least one contradiction.

The hawks are watching...

freetoken Fri, Jul 13, 2012 1:21:14pm

re: #12 researchok

No one has accused him of doing anything illegal.

In the end, the image that will hold will not be untrue:

Romney is the super rich - he has millions in offshore accounts in the Caymans, while many Americans have nothing in their American bank accounts at the end of the month.

Romney is the super rich - he didn't even have to run his own investment company to play sports mogul, but had others do it for him, but in the end he's the one that collected the millions and millions of dollars.

Mocking Jay Fri, Jul 13, 2012 1:22:47pm

re: #23 freetoken

In the end, the image that will hold will not be untrue:

Romney is the super rich - he has millions in offshore accounts in the Caymans, while many Americans have nothing in their American bank accounts at the end of the month.

Romney is the super rich - he didn't even have to run his own investment company to play sports mogul, but had others do it for him, but in the end he's the one that collected the millions and millions of dollars.

$100,000/year salary from the company he had nothing to do with...

Targetpractice Fri, Jul 13, 2012 1:22:48pm

re: #14 Killgore Trout

I can tell you what I think they're going to say: The headline "Bain Press Release Described Romney as ‘Part-Time’ CEO in July 1999" isn't accurate. If you graph the sentence "Bain Capital CEO W. Mitt Romney, currently on a part-time leave of absence to head the Salt Lake City Olympic Committee for the 2002 Games" the descriptor "part time" applies to the leave of absence, not the CEO. My guess is "temporary" leave of absence would have been more accurate.
Also for those who have been going out of their minds over who took over for Mitt after he left...

I think that's your answer.

And what you think they're going to say is in line with what they've been doing, namely absolutely refusing to budge from their initial "debunking," whether the reason be due to pride, partisanship, or a desire to keep this a close race for the purpose of ratings.

goddamnedfrank Fri, Jul 13, 2012 1:23:01pm

I hope NBC digs up zombie Tim Russert to do the interview. That would be awesome.

researchok Fri, Jul 13, 2012 1:23:57pm

re: #23 freetoken

In the end, the image that will hold will not be untrue:

Romney is the super rich - he has millions in offshore accounts in the Caymans, while many Americans have nothing in their American bank accounts at the end of the month.

Romney is the super rich - he didn't even have to run his own investment company to play sports mogul, but had others do it for him, but in the end he's the one that collected the millions and millions of dollars.

He's in good political company.

The 50 Richest Members of Congress

iossarian Fri, Jul 13, 2012 1:24:12pm

re: #24 It's a cookbook!

$100,000/year salary from the company he had nothing to do with...

In my line of work, if you stop working for a company, they stop paying you.

Mocking Jay Fri, Jul 13, 2012 1:24:53pm

re: #28 iossarian

In my line of work, if you stop working for a company, they stop paying you.

Puny working-class man.

gwangung Fri, Jul 13, 2012 1:25:11pm

And remember....$100K is the MINIMUM. Public Disclosure statements deal in ranges and I believe $100K is the top range.

Targetpractice Fri, Jul 13, 2012 1:25:36pm

re: #28 iossarian

In my line of work, if you stop working for a company, they stop paying you.

Ayep, even in the business world, you usually stop drawing a salary once you stop working for a company. You may receive a pension or hold stock, but getting paid six figures after "retiring" is something that apparently is limited to the rich and powerful.

iossarian Fri, Jul 13, 2012 1:25:45pm

re: #30 gwangung

And remember...$100K is the MINIMUM. Public Disclosure statements deal in ranges and I believe $100K is the top range.

Unlike some people, we like to stick to what we know to be facts.

Rather than just making up whatever's convenient.

ShaunP Fri, Jul 13, 2012 1:26:01pm

Mitt wants to argue that being CEO doesn't mean you have actual responsibility - a little troubling for potential prez: thebea.st/NJejTv

— Andrew Sullivan (@sullydish) July 13, 2012

Amory Blaine Fri, Jul 13, 2012 1:27:17pm

re: #8 Targetpractice

Prediction: Romney blames Obama for newest revelations, declares it "dirty campaigning," then proceeds to say how he'd never stoop to such things while members of his party continue to talk openly about how they don't really think Obama's been honest about his birth certificate.

Copious amounts of "both sides do it" will no doubt pepper the after party analysis.

Killgore Trout Fri, Jul 13, 2012 1:28:00pm

re: #18 iossarian

Also, what is Romney doing issuing press releases for Bain in July, if he left in February? I thought he had "no involvement" with Bain at that point.

The story is that he left on short notice. My guess would be that the press release was to announce that Mitt was already gone and the two new guys are taking over as "special partners".

Targetpractice Fri, Jul 13, 2012 1:28:04pm

re: #34 Amory Blaine

Copious amounts of "both sides do it" will no doubt pepper the after party analysis.

Like I said, there will be (and I'm already hearing it from wingnuts) talk about how this is just "proof" that they're right, that "Obama can't run on his record."

Charles Johnson Fri, Jul 13, 2012 1:29:56pm

Romney wants us to believe that while he was managing Bain Capital everything was rosy -- but all the stuff they're being criticized for happened after he left. That's what this is essentially about. He's trying to duck responsibility for the worst stuff Bain has done.

That's why it's been so difficult for him to come up with a coherent response. He can't really admit that this is his purpose.

iossarian Fri, Jul 13, 2012 1:30:29pm

re: #35 Killgore Trout

The story is that he left on short notice. My guess would be that the press release was to announce that Mitt was already gone and the two new guys are taking over as "special partners".

The press release says no such thing. It says "we wish them well". The two guys are leaving to form another venture, but retaining some connection with Bain, hence the "special partners" thing. It says nothing about them taking over from Romney, who by writing the "we wish them well" comment is clearly signaling that he is still the guy at the top of the organization.

Did you even read the press release?

Your partisanship is showing.

Killgore Trout Fri, Jul 13, 2012 1:31:11pm

Oops, I think I misread that, I think Geoffrey S. Rehnert and Marc B. were leaving the firm, not replacing Mitt.

goddamnedfrank Fri, Jul 13, 2012 1:31:28pm

Mitt Romney looks wistful in this photograph because somebody took his favorite sled.

Killgore Trout Fri, Jul 13, 2012 1:31:57pm

re: #38 iossarian

The press release says no such thing. It says "we wish them well". The two guys are leaving to form another venture, but retaining some connection with Bain, hence the "special partners" thing. It says nothing about them taking over from Romney, who by writing the "we wish them well" comment is clearly signaling that he is still the guy at the top of the organization.

Did you even read the press release?

Your partisanship is showing.

Thanks. I just caught that. My mistake.

iossarian Fri, Jul 13, 2012 1:32:06pm

"It is with mixed emotions that we are moving on to a new and exciting venture," said Mr. Rehnert. "Marc and I are very proud of the roles we have played building Bain Capital into a world class organization. However, we are very excited to start our own firm, the Audax Group, which we plan to build into a leading company in its own right. We are also looking forward to working with Bain Capital in a complementary fashion."

Yup, that's what I would say if I was taking over Bain Capital. "It is with mixed emotions that I am moving on."

goddamnedfrank Fri, Jul 13, 2012 1:32:17pm

re: #39 Killgore Trout

Oops, I think I misread that, I think Geoffrey S. Rehnert and Marc B. were leaving the firm, not replacing Mitt.

It happens. A lot.

iossarian Fri, Jul 13, 2012 1:32:18pm

re: #39 Killgore Trout

Oops, I think I misread that, I think Geoffrey S. Rehnert and Marc B. were leaving the firm, not replacing Mitt.

YA THINK

Charles Johnson Fri, Jul 13, 2012 1:32:29pm

re: #35 Killgore Trout

The story is that he left on short notice. My guess would be that the press release was to announce that Mitt was already gone and the two new guys are taking over as "special partners".

Uh, no. I think you should actually read it before expressing an opinion on it. Here's the exact quote:

Bain Capital CEO W. Mitt Romney, currently on a part-time leave of absence to head the Salt Lake City Olympic Committee for the 2002 Games said, "Geoff and Marc have each made very significant contributions to the growth of our business, and have played important roles in furthering its success. In particular, Geoff, who helped us to start Bain Capital played a key role in building our franchise and led several of our highly successful transactions. Marc brought extensive capital markets expertise to the firm, where he co-headed our mezzanine efforts and played a critical role in conceiving and helping to start Sankaty Advisors, our high yield asset business, which now has over $ 2 billion under management. While we will miss them, we wish them well and look forward to working with them as they build their firm."

Not a word about Mitt being "already gone," sorry. In fact, Romney's statement makes it clear that at that point he intended to continue being CEO of Bain.

"While we will miss them, we wish them well and look forward to working with them as they build their firm."

Targetpractice Fri, Jul 13, 2012 1:32:30pm

re: #37 Charles Johnson

Romney wants us to believe that while he was managing Bain Capital everything was rosy -- but all the stuff they're being criticized for happened after he left. That's what this is essentially about. He's trying to duck responsibility for the worst stuff Bain has done.

That's why it's been so difficult for him to come up with a coherent response. He can't really admit that this is his purpose.

He can't even prove that the "good" things that happened at Bain happened under his direction. To do that would require Bain to open the books, and that's just not gonna happen. So we're apparently supposed to take his word that any good investments, any good outcomes, were totally at his order and he personally led them to clear waters. But anything "bad" that happened, he either wasn't involved or wasn't at Bain when it happened.

So much for "the buck stops here," huh?

iossarian Fri, Jul 13, 2012 1:34:01pm

re: #41 Killgore Trout

Thanks. I just caught that. My mistake.

So you agree that in July 1999 Mitt Romney was still in charge of Bain, and was involved to the extent of signing press releases offering good wishes to partners leaving the firm?

Mocking Jay Fri, Jul 13, 2012 1:34:20pm

re: #46 Targetpractice

So much for "the buck stops here," huh?

Hard to say where the buck stops when we only have one year of tax returns.

Amory Blaine Fri, Jul 13, 2012 1:34:31pm

Image: The_Romney_Unicorn_Shits_Rainbows.jpg

wrenchwench Fri, Jul 13, 2012 1:35:51pm

re: #40 goddamnedfrank

Mitt Romney looks wistful in this photograph because somebody took his favorite sled.

...

Rosebud!!

goddamnedfrank Fri, Jul 13, 2012 1:36:27pm

re: #47 iossarian

So you agree that in July 1999 Mitt Romney was still in charge of Bain, and was involved to the extent of signing press releases offering good wishes to partners leaving the firm?

Could've been one of those liquid metal Terminators pretending to be Romney. I'm going to wait for a fact checking website to collapse the quantum waveform into discernible reality.

Blizard Fri, Jul 13, 2012 1:36:29pm

re: #27 researchok

He's in good political company.

The 50 Richest Members of Congress

I thought for sure McCain would be higher on that list. McConnell too, considering the amount of power, perceived or not, he flings around.

wrenchwench Fri, Jul 13, 2012 1:37:27pm

"I know how to create jobs. Or at least I did up until 1999."

iossarian Fri, Jul 13, 2012 1:37:43pm

I wonder, did Bain have an acting CEO, or some other means of making important decisions without consulting Romney, in the period 1999 to 2002?

Varek Raith Fri, Jul 13, 2012 1:38:42pm

re: #54 iossarian

I wonder, did Bain have an acting CEO, or some other means of making important decisions without consulting Romney, in the period 1999 to 2002?

20 sided die.

goddamnedfrank Fri, Jul 13, 2012 1:38:53pm

re: #50 wrenchwench

Rosebud!!

You win the bonus round.

iossarian Fri, Jul 13, 2012 1:39:33pm

re: #55 Varek Raith

20 sided die.

lol

Magic 8 ball says invest in fetus disposal company.

Targetpractice Fri, Jul 13, 2012 1:40:12pm

re: #55 Varek Raith

20 sided die.

Which apparently could only roll natural 1s.

/geek moment

Iwouldprefernotto Fri, Jul 13, 2012 1:40:33pm

I still think some of this is sideshow. The fact is that Romney profited from a company that did damage to the US economy. Full or part time or passive investor doesn't matter that much. He made money from the misery of others and now wants to deny it.

wrenchwench Fri, Jul 13, 2012 1:40:43pm

re: #56 goddamnedfrank

You win the bonus round.

OK, back to work for me.

Varek Raith Fri, Jul 13, 2012 1:41:44pm

re: #58 Targetpractice

Which apparently could only roll natural 1s.

/geek moment

Saving throw, saving throw!
DAMMIT!

Killgore Trout Fri, Jul 13, 2012 1:41:50pm

re: #47 iossarian

So you agree that in July 1999 Mitt Romney was still in charge of Bain, and was involved to the extent of signing press releases offering good wishes to partners leaving the firm?

I don't thik he was still running the company but he did make a statement wishing good luck to the guys leaving. The only think curious about this is the "Part time leave of absence". It seem to me this was intended to mean that the leave was temporary.

iossarian Fri, Jul 13, 2012 1:42:33pm

re: #62 Killgore Trout

It seem to me this was intended to mean that the leave was temporary.

Why? Temporary means temporary, part-time means part-time.

Why do you want to believe that they meant one thing but said another, quite different thing?

Killgore Trout Fri, Jul 13, 2012 1:43:15pm

re: #54 iossarian

I wonder, did Bain have an acting CEO, or some other means of making important decisions without consulting Romney, in the period 1999 to 2002?

Some people have asked about that. I haven't seen any mention of who was actually running the company while Mitt was gone.

iossarian Fri, Jul 13, 2012 1:43:40pm

re: #64 Killgore Trout

Some people have asked about that. I haven't seen any mention of who was actually running the company while Mitt was gone.

Maybe they haven't figured that part of the story out yet.

iossarian Fri, Jul 13, 2012 1:44:20pm

*stands up, declaims*

I AM ROMNEYCUS

wrenchwench Fri, Jul 13, 2012 1:44:41pm

re: #62 Killgore Trout

The only think curious about this is the "Part time leave of absence". It seem to me this was intended to mean that the leave was temporary.

"Temporary leave of absence" would be redundant. What would a "permanent leave of absence" be? Quitting, right?

gwangung Fri, Jul 13, 2012 1:45:01pm

re: #64 Killgore Trout

Some people have asked about that. I haven't seen any mention of who was actually running the company while Mitt was gone.

That's the sort of thing that should be filed with the SEC, to show the lines of responsibility.

Absent that, the default assumption is that the Managing Director or CEO is running the company and is responsible for it.

iossarian Fri, Jul 13, 2012 1:45:01pm

re: #67 wrenchwench

"Temporary leave of absence" would be redundant. What would a "permanent leave of absence" be? Quitting, right?

Good point.

Charles Johnson Fri, Jul 13, 2012 1:45:21pm

re: #62 Killgore Trout

I don't thik he was still running the company but he did make a statement wishing good luck to the guys leaving. The only think curious about this is the "Part time leave of absence". It seem to me this was intended to mean that the leave was temporary.

He did more than "wish them well." He also said "[we] look forward to working with them as they build their firm."

Varek Raith Fri, Jul 13, 2012 1:45:28pm

I'm no SEC lawyer but couldn't Romney and Bain put this to bed easily?
I mean, if these reports are wrong...
If so, why haven't they?
;)

wrenchwench Fri, Jul 13, 2012 1:45:37pm

re: #69 iossarian

Good point.

OK, now back to work.

AK-47% Fri, Jul 13, 2012 1:46:37pm

Part-time CEO Love

goddamnedfrank Fri, Jul 13, 2012 1:46:54pm

re: #62 Killgore Trout

I don't thik he was still running the company but he did make a statement wishing good luck to the guys leaving. The only think curious about this is the "Part time leave of absence". It seem to me this was intended to mean that the leave was temporary.

What makes you believe that the Olympic leave was different than his leave to run for Senate? In 2002, regarding that previous absence Wolpow was quoted as saying “I reported directly to Mitt Romney . . . You can’t be CEO of Bain Capital and say, `I really don’t know what my guys were doing.’”

iossarian Fri, Jul 13, 2012 1:47:10pm

re: #68 gwangung

That's the sort of thing that should be filed with the SEC, to show the lines of responsibility.

Absent that, the default assumption is that the Managing Director or CEO is running the company and is responsible for it.

Weren't you saying that you deal with SEC filings or similar docs? I was thinking along the same lines - wouldn't Bain have to file something saying who's running the show while Romney's away?

Killgore Trout Fri, Jul 13, 2012 1:48:38pm

re: #63 iossarian

Why? Temporary means temporary, part-time means part-time.

Why do you want to believe that they meant one thing but said another, quite different thing?

Because many of the previous bombshell revelations from partisan sources have ended up being untrue (IMHO) so I'm not ready to jump on this latest bombshell revelation. It looks to me like it just might be careless wording in the press release.

JamesWI Fri, Jul 13, 2012 1:49:46pm

re: #76 Killgore Trout

Because many of the previous bombshell revelations from partisan sources have ended up being untrue (IMHO) so I'm not ready to jump on this latest bombshell revelation. It looks to me like it just might be careless wording in the press release.

I can see how you read this post wrong the first time. You must be quite dizzy from all the spinning you're doing. I imagine that would make reading anything quite difficult.

AK-47% Fri, Jul 13, 2012 1:50:01pm

No bombshells, no smoking guns, just ongoing reiteration of the fact that Mitt is a successful businessman - but one who has no business running our country.

Charles Johnson Fri, Jul 13, 2012 1:50:04pm

This press release also backs up the Huffington Post story that reported on Romney's testimony that he intended to continue as CEO of Bain.

gwangung Fri, Jul 13, 2012 1:50:49pm

re: #75 iossarian

Weren't you saying that you deal with SEC filings or similar docs? I was thinking along the same lines - wouldn't Bain have to file something saying who's running the show while Romney's away?

Hm. I'll take that back a little ways. They don't have to file if the company provides information as to who is in charge.

For example, when Steve Jobs took a leave of absence from APple, the SEC accepted a company email stating that Tim Cook was responsible for day to day activities. But they DID do a review of various Apple disclosures to come to that conclusion.

iossarian Fri, Jul 13, 2012 1:51:04pm

re: #76 Killgore Trout

Because many of the previous bombshell revelations from partisan sources have ended up being untrue (IMHO) so I'm not ready to jump on this latest bombshell revelation. It looks to me like it just might be careless wording in the press release.

See, the alternative way of looking at it is that the original revelations have been denied by partisan sources, only to gradually be confirmed by the discovery of more and more incriminating evidence, of which this is the latest edition.

You're looking at this through one partisan lens, we're looking at it through another. But facts are facts, and increasingly you're having to explain stuff away as being "carelessly worded". When in fact, companies like Bain have highly paid people to draft their communications.

Varek Raith Fri, Jul 13, 2012 1:52:10pm

re: #76 Killgore Trout

Because many of the previous bombshell revelations from partisan sources have ended up being untrue (IMHO) so I'm not ready to jump on this latest bombshell revelation. It looks to me like it just might be careless wording in the press release.

You'll need a monomolecular blade to cut that hair any thinner....

Killgore Trout Fri, Jul 13, 2012 1:52:32pm

re: #79 Charles Johnson

This press release also backs up the Huffington Post story that reported on Romney's testimony that he intended to continue as CEO of Bain.

I think that's another one that nobody is really disagreeing on. Mitt left his options open with Bain so he could return after the Olympics or go off to pursue a political career.

allegro Fri, Jul 13, 2012 1:54:40pm

Bummer that Bain couldn't have afforded new stationery to reflect a change of brass.

Amory Blaine Fri, Jul 13, 2012 1:55:50pm

He was referring to the royal we, the editorial we man.

researchok Fri, Jul 13, 2012 1:59:13pm

re: #76 Killgore Trout

I fault the Romney campaign for being stupid.

All they had to do was come clean.

'Yes, when there are takeovers/transitions, current management is kept in place to smooth the transition. We should have made our position more clear. And if I were really running the show, it was stupid. You can't dance at two weddings.'

'Yes, some jobs were moved overseas. We answer to stockholders and that means pension funds and that means widows and orphans. Just like Apple moved jobs oversea to answer to their stockholders.

'Yes, we made mistakes. Anyone in business for any length of time will make mistakes. With hindsight we're all 20/20.'

Just come clean. Americans are smarter and more forgiving than the politicians believe they are.

Romney hasn't done anything illegal- just stupid.

iossarian Fri, Jul 13, 2012 2:00:13pm

re: #86 researchok

I fault the Romney campaign for being stupid.

I fault Romney for his massive greed and immense hubris.

goddamnedfrank Fri, Jul 13, 2012 2:00:24pm

re: #83 Killgore Trout

I think that's another one that nobody is really disagreeing on. Mitt left his options open with Bain so he could return after the Olympics or go off to pursue a political career.

So he profited from everything done at Bain during that period, held ultimate authority, got paid a salary, signed off on key decisions, but yet at the same time wasn't involved.

I don't think I've ever seen cognitive dissonance distilled down to such purity.

researchok Fri, Jul 13, 2012 2:01:00pm

re: #87 iossarian

I fault Romney for his massive greed and immense hubris.

Comes with being rich.

allegro Fri, Jul 13, 2012 2:02:10pm

Romney will speak with ABC's Jon Karl, NBC's Peter Alexander, CBS' Jan Crawford and CNN's Jim Acosta, network sources confirmed to The Huffington Post's Michael Calderone. The interviews are scheduled to take place between 3 and 4 p.m. BuzzFeed reports that the exchanges will air on nightly news broadcasts

I'm not big on network/cable news but is it just me? I've hardly heard of any of these news... whatever-the-title interviewers. Not exactly their top talent, are they?

Charles Johnson Fri, Jul 13, 2012 2:02:43pm

re: #83 Killgore Trout

I think that's another one that nobody is really disagreeing on. Mitt left his options open with Bain so he could return after the Olympics or go off to pursue a political career.

Again, not really accurate. He didn't "leave his options open," he continued as CEO. It wasn't just an option, he was the CEO until 2002, and he's listed that way on his SEC filings. All facts.

The question is how much involvement he had in Bain's dealings during that time, and this press release shows that he's not being up-front about it. He was clearly still meeting with Bain and doing business for the company, five months after he claimed he "retired."

goddamnedfrank Fri, Jul 13, 2012 2:03:47pm

I've carried on more productive conversations with alphabet soup.

Killgore Trout Fri, Jul 13, 2012 2:03:53pm

re: #81 iossarian

You're looking at this through one partisan lens, we're looking at it through another. But facts are facts, and increasingly you're having to explain stuff away as being "carelessly worded". When in fact, companies like Bain have highly paid people to draft their communications.

Because the wording is awkward no matter how you slice it. What is a "part time leave of absence"? I understand that a lot of people are trying to spin this that he was working as of CEO part time but I doubt that's the case. Smart, well spoken people gaffe all the time. Internet politics, especially in election years, deals a lot with misspoken or poorly chosen words. Most of it means little at the end of the day.

iossarian Fri, Jul 13, 2012 2:04:13pm

re: #89 researchok

Comes with being rich.

To some extent. Some people manage wealth with a certain amount of grace.

But yes, this whole episode has got me thinking about wealth and its destructive power on the individual. Be careful what you wish for.

iossarian Fri, Jul 13, 2012 2:05:33pm

re: #93 Killgore Trout

I understand that a lot of people are trying to spin this that he was working as of CEO part time but I doubt that's the case.

What reason do you have to doubt it? Why not just take it as face value - he was working at the Olympics but still devoting a portion of his time to running Bain (as indicated by his presence on the SEC filings)?

Again, what is your reason to doubt that the press release means what it appears to mean?

allegro Fri, Jul 13, 2012 2:05:51pm

re: #94 iossarian

Some people manage wealth with a certain amount of grace.

Like the Obamas?

Killgore Trout Fri, Jul 13, 2012 2:06:11pm

re: #86 researchok

I fault the Romney campaign for being stupid.

All they had to do was come clean.

'Yes, when there are takeovers/transitions, current management is kept in place to smooth the transition. We should have made our position more clear. And if I were really running the show, it was stupid. You can't dance at two weddings.'

'Yes, some jobs were moved overseas. We answer to stockholders and that means pension funds and that means widows and orphans. Just like Apple moved jobs oversea to answer to their stockholders.

'Yes, we made mistakes. Anyone in business for any length of time will make mistakes. With hindsight we're all 20/20.'

Just come clean. Americans are smarter and more forgiving than the politicians believe they are.

Romney hasn't done anything illegal- just stupid.

I think that's a fair assesment and it's also why I think the overreaching attacks provide Mitt with enough wiggl;e room that he gets to talk about the factual inaccuracies of the attacks rather than owning up to some of the mistakes and questionable business deals.

JamesWI Fri, Jul 13, 2012 2:06:29pm

re: #92 goddamnedfrank

I've carried on more productive conversations with alphabet soup.

At this point, I'm not even sure if Mitt coming out and saying "Yes, I was still in charge at Bain after 1999" would be enough to convince KT. I'm guessing the response would be along the lines of "Oh, but I'm sure he's just saying that to placate the partisans. He doesn't really mean it."

iossarian Fri, Jul 13, 2012 2:06:35pm

re: #96 allegro

Like the Obamas?

Par exemple.

100

A Mom Anon Fri, Jul 13, 2012 2:06:50pm

re: #87 iossarian

I think that's the thing that pisses me off the most. Romney is the walking embodiment of hubris. He's been so insulated by his money that he really thinks he can just bullshit and dance around the truth like he's talking shit to his boys at the club. He thinks we're stupid because we aren't as privileged or rich as he is. That's the kind of shit that pisses people off,it makes him even more unlikable than he normally is. He believes he deserves and has earned the Oval Office. To which I say"Bite Me".

101

HappyWarrior Fri, Jul 13, 2012 2:08:00pm

re: #100 A Mom Anon

I think that's the thing that pisses me off the most. Romney is the walking embodiment of hubris. He's been so insulated by his money that he really thinks he can just bullshit and dance around the truth like he's talking shit to his boys at the club. He thinks we're stupid because we aren't as privileged or rich as he is. That's the kind of shit that pisses people off,it makes him even more unlikable than he normally is. He believes he deserves and has earned the Oval Office. To which I say"Bite Me".

I really wish Ann Richards hadn't coined the born on third base and thinks he hit a triple for George H.W Bush because that statement should have been made for Mitt Romney. Sure H.W was probably a little bit of a snob but he also was a fighter pilot at 19.

102

researchok Fri, Jul 13, 2012 2:09:36pm

re: #94 iossarian

To some extent. Some people manage wealth with a certain amount of grace.

But yes, this whole episode has got me thinking about wealth and its destructive power on the individual. Be careful what you wish for.

No truer words.

I'd also add the current culture has a lot to do with it.

Kid want to be entrepreneurs, not educators, singers not scientists or actors and not real heroes.

Blame TV, blame Hollywood and everyone else who skews our value system to make a buck.

Our world.

103

iossarian Fri, Jul 13, 2012 2:09:59pm

re: #97 Killgore Trout

I think that's a fair assesment and it's also why I think the overreaching attacks provide Mitt with enough wiggl;e room that he gets to talk about the factual inaccuracies of the attacks rather than owning up to some of the mistakes and questionable business deals.

I'm out for the evening. There are no "factual inaccuracies" - that's just partisan spin from the Romney campaign. He was the CEO of Bain from 1999 to 2002, with a part-time leave of absence to run the Olympics (but no clear replacement in the form of an acting CEO that we know of). He was getting paid, he remained the sole shareholder, and we now know of at least one instance of him being involved in a decision to let two partners form a separate venture but retain ties to the firm, after the date on which he claims to have "left" the company.

Good night all. Enjoy your weekends!

104

makeitstop Fri, Jul 13, 2012 2:10:44pm

re: #93 Killgore Trout

Internet politics, especially in election years, deals a lot with misspoken or poorly chosen words. Most of it means little at the end of the day.

Except we're talking about printed material from Bain - who, as has been already pointed out, paid someone a lot of money to write, edit, print and distribute said printed material.

I've done work for companies like that. Believe me, there is no 'poorly worded' promotional material that sees the light of day, especially when you're trying to get millions of dollars from prospective readers.

Does. Not. Happen. Ever.

105

researchok Fri, Jul 13, 2012 2:11:18pm

re: #97 Killgore Trout

I think that's a fair assesment and it's also why I think the overreaching attacks provide Mitt with enough wiggl;e room that he gets to talk about the factual inaccuracies of the attacks rather than owning up to some of the mistakes and questionable business deals.

The inferences are Mitt did something illegal.

So far, no one has made that accusation with any credibility.

106

researchok Fri, Jul 13, 2012 2:12:14pm

re: #103 iossarian

In an election season, everybody is partisan.

Pity.

107

freetoken Fri, Jul 13, 2012 2:13:45pm

FWIW, Romney and his allies have already won the war, even if this latest little snafu causes a few hiccups:

Poll: Majority want tax cuts for all, even the wealthy

A majority of Americans want the Bush tax cuts extended for everyone, despite a strong push by President Barack Obama to eliminate them on higher incomes, according to a new McClatchy-Marist poll.

The poll found 52 percent of registered voters saying they want all the tax cuts extended, including the tax cuts for incomes above $250,000, while 43 percent want the cuts extended just for incomes below that threshhold.

[...]

And those making less than $50,000 supported tax cuts for all incomes by 53 percent to 41 percent.

[...]

One thing to remember: MItt is a winner, no matter how this Bain-snafu thing washes.

108

Charles Johnson Fri, Jul 13, 2012 2:15:52pm

It's not just about whether Romney did something illegal, and I kind of doubt he did although I'm not ruling it out.

Another big problem for him is Bain's investment in Stericycle, the company that disposed of aborted fetuses. The religious right is already freaking out about it, and if it's shown that Romney was still involved with Bain at that point, it could seriously hurt him in the anti-choice movement.

He's spent years pandering, bowing, and scraping to the fundamentalists despite being a Mormon, and has a strong motivation to obfuscate anything that might damage this fragile truce he's built with them.

109

AK-47% Fri, Jul 13, 2012 2:18:25pm

re: #108 Charles Johnson

He's spent years pandering, bowing, and scraping to the fundamentalists despite being a Mormon, and has a strong motivation to obfuscate anything that might damage this fragile truce he's built with them.

That part of it does make me smile, and I am sure that is his major motivation for trying to distance himself from the company he still owned and received a salary from...

110

researchok Fri, Jul 13, 2012 2:18:50pm

re: #107 freetoken

I never thought I'd be for higher taxes.

Like the man says, 'The times, they are a changin'.

For me, the problem is as much taxes as it it spending. You can't leave taxes alone and have spending cuts shoulder the burden of fiscal responsibility.

That's like saying 'I'll walk for an our a day but eat whatever I want'.

111

Mich-again Fri, Jul 13, 2012 2:19:27pm

re: #100 A Mom Anon

I think that's the thing that pisses me off the most. Romney is the walking embodiment of hubris. He's been so insulated by his money that he really thinks he can just bullshit and dance around the truth like he's talking shit to his boys at the club. He thinks we're stupid because we aren't as privileged or rich as he is. That's the kind of shit that pisses people off,it makes him even more unlikable than he normally is. He believes he deserves and has earned the Oval Office. To which I say"Bite Me".

I agree completely.

112

Varek Raith Fri, Jul 13, 2012 2:19:27pm

re: #92 goddamnedfrank

I've carried on more productive conversations with alphabet soup.

Those are cheerios.

113

freetoken Fri, Jul 13, 2012 2:19:38pm

re: #108 Charles Johnson

The political machinery is already in crisis management-mode - From "pro life" outlet LifeNews:

Obama 11th-Hour Attack on Romney May Involve False Abortion Story

With millions of pro-life voters up in arms about President Barack Obama’s lengthy pro-abortion record and pro-life groups backing Mitt Romney as a pro-life contrast to him, the 2012 election has already become an ideological one that will likely be won by the candidate with the best voter turnout of his base.

However, if Obama can somehow erode their confidence in him to promote the pro-life perspective as president that could suppress turnout of social conservative voters.

Jim Geraghty, a National Review writer, has spotted what he thinks is a very likely 11th-hour attack the Obama campaign may run against Romney in an attempt to may him look disingenuous about his pro-life conversion. Geraghty cites a CNS News report also speculating about such an attack on Romney in the days leading up to the November election.

The attack would center on disproved claims that Romney, during his time at Bain Capital, which once owned waste cleanup company Stericycle, was somehow associated with the company arranging contracts with Planned Parenthood and other abortion businesses to dispose of the bodies of babies victimized by abortions. LifeNews has rebutted these false attacks, which are based on erroneous claims that Romney worked at Bain longer than either he or Bain say was the case and we have noted that no documents exist showing any connection between Romney and Stericycle’s link to the abortion industry.

[...]

So their answer is simply that Romney didn't do it.

114

researchok Fri, Jul 13, 2012 2:19:57pm

re: #108 Charles Johnson

He's spent years pandering, bowing, and scraping to the fundamentalists despite being a Mormon, and has a strong motivation to obfuscate anything that might damage this fragile truce he's built with them.

And he's paying fr that pandering now.

He has no one to blame but himself.

115

HappyWarrior Fri, Jul 13, 2012 2:21:48pm

re: #114 researchok

And he's paying fr that pandering now.

He has no one to blame but himself.

Yep. Romney could have been a voice for moderate Republicanism but he chose to be an unprincipled panderer. It's too bad really because the Republican Party even though I've never supported it could use some moderate and reasonable members to counteract the crazies.

116

HappyWarrior Fri, Jul 13, 2012 2:23:25pm

re: #113 freetoken

The political machinery is already in crisis management-mode - From "pro life" outlet LifeNews:

Obama 11th-Hour Attack on Romney May Involve False Abortion Story

So their answer is simply that Romney didn't do it.

Well the leadership of these "pro-life" groups doesn't care but the rank and file are going to be pissed. I'm no conservative or friend of the movement but their mistrust of Mitt Romney is completely understandable.

117

Kragar Fri, Jul 13, 2012 2:26:14pm

Warning: link is to WND

A choice between Satan and Beelzebub: Exclusive: Alan Keyes argues against 'fighting evil with evil' by voting for Romney

Derpiness ensues.

118

freetoken Fri, Jul 13, 2012 2:27:37pm

To demonstrate how strangely the Lyin'-fer-Jesus mind can go to justify just about anything, here is the LifeNews article that supposedly refutes Bain's (and Mitt's) involvement in the abortion business:

Left-Wing Blogs Falsely Attack Romney on Abortion, Stericycle

[...]

That Romney wasn’t involved in, approving of, familiar with, or even involved in the company at the time of the Stericycle-aborted bodies disposal business, is further proven by the documentation of the pro-life Stop Stericycle campaign. The campaign began in January 2011 — over a decade after Romney was no longer involved in Bain Capital.

PHILADELPHIA – Repent America (RA) has launched a nationwide effort called the Campaign to Stop Stericycle (CSS), which aims to expose America’s leading medical waste disposal company for their collection, transportation and incineration of aborted children and the instruments used to kill them.

At minimum, even if Romney had been involved in Stericycle past 1999/2002, the date by which he clearly was no longer involved, pro-life efforts to raise awareness of its business with abortion facilities didn’t began until 18 months ago. Most pro-life Americans still are unaware of the connection but the information certainly didn’t filter down to the grassroots pro-life community until last year at the earliest. [...]

The implication being that the (supposed) immorality of abortion doesn't really matter until some pro-life groups protest the specific case.

119

HappyWarrior Fri, Jul 13, 2012 2:29:36pm

Can you imagine if Obama were involved in something like Stericycle? Yeah........

120

Mattand Fri, Jul 13, 2012 2:30:20pm

re: #107 freetoken

FWIW, Romney and his allies have already won the war, even if this latest little snafu causes a few hiccups:

Poll: Majority want tax cuts for all, even the wealthy

One thing to remember: MItt is a winner, no matter how this Bain-snafu thing washes.

America: Land of the Free, and Home of the People So Apoplectic About Taxes, They'll Happily Destroy Their Own Economy.

We have met the enemy, and he is us.

121

danarchy Fri, Jul 13, 2012 2:31:15pm

Just to throw something else out there. I don't think we really know enough about how Bain is structured. For instance, I think each of their investment funds is set up as a separate LLC or L.P. I think the entity called "Bain Capital" that Romney was sole shareholder of basically existed as a management corporation to deal with payrolls and stuff. I don't think it necessarily gave him any control over individual funds and investments. I will be the first to admit I am no VC/Private equity expert, but trying to parse what a particular SEC filing means in a legal sense is almost pointless without a full picture of how the business is structured.

122

HappyWarrior Fri, Jul 13, 2012 2:32:15pm

re: #120 Mattand

America: Land of the Free, and Home of the People So Apoplectic About Taxes, They'll Happily Destroy Their Own Economy.

We have met the enemy, and he is us.

What's mind boggling is you poll those same people and ask them if they want better schools, roads, health care, etc, and the majority will say yes. Too many people in this country think the benefits of a modern society are something that just happen. It's frustrating as hell.

123

Mich-again Fri, Jul 13, 2012 2:32:55pm

re: #113 freetoken

So their answer is simply that Romney didn't do it.

Well the SEC records say otherwise.. Text of the official Stericycle Schedule 13D scroll down to page 18 of 39.

124

Mich-again Fri, Jul 13, 2012 2:35:14pm

Or this from page 24 at that linked page..

(xvii) W. Mitt Romney ("Mr. Romney"), a citizen of the United States, as the sole shareholder, Chairman, Chief Executive Officer and President of BCI, BCP VI Inc., Brookside Inc. and Sankaty Ltd.;

125

AK-47% Fri, Jul 13, 2012 2:35:26pm

I would really like to see Mitt get burned not by "envious class warriors" from the left who are "jealous of the accomplisments of a successful businessman", but by the ideologically pure right-wingers who want to ban everything but the missionary position between married couples in darkened rooms.

126

Mattand Fri, Jul 13, 2012 2:36:21pm

re: #122 HappyWarrior

What's mind boggling is you poll those same people and ask them if they want better schools, roads, health care, etc, and the majority will say yes. Too many people in this country think the benefits of a modern society are something that just happen. It's frustrating as hell.

These are the same people who watch Fox News and agree that Obama is waging a "class war" on the rich. They have no idea that they're on the losing side.

It's like a cow urging people to eat at Outback.

127

Kragar Fri, Jul 13, 2012 2:38:07pm

Dem. Rep. Demands ‘Credible, Substantial Evidence’ Of Bachmann’s Muslim Brotherhood Conspiracies

When Rep. Michele Bachmann (R-MN) recently escalated her paranoid quest to root out the Muslim Brotherhood from the U.S. government, she named names. There’s a problem, however, when conspiracy theorists get into specifics, people will start demanding facts to back up their wild-eyed assertions.

That’s exactly what her colleague form the Minnesota Congressional delegation Rep. Keith Ellison (D) did when he responded to her letter to the State Department insinuating that Secretary of State Hillary Clinton’s aide Huma Abedin (the wife of former Democratic Congressman Anthony Weiner) was at the heart of the Brotherhood’s infiltration of the State Department. “If she has sources for this type of information,” Ellison said in a statement, “she owes it to the country to reveal them to the proper authorities, but definitely not this way.”

Now, Ellison has taken his request for specifics directly to Bachmann and the co-signers of her letters to State and other government departments — Reps. Trent Franks (R-AZ), Louie Gohmert (R-TX), Thomas Rooney (R-FL), and Lynn Westmoreland (R-GA) also signed. Ellison also calls out the source of their information, arch-Islamophobe Frank Gaffney. Ellison wrote:

I request that you provide my office a full accounting of the sources you used to make the serious allegations against the individuals and organizations in your letters. If there is not credible, substantial evidence for your allegations, I sincerely hope that you will publically clear their names.

(Read the whole letter here.)

After listing a host of ludicrous allegations made by Gaffney, Ellison wrote, “Mr. Gaffney’s views have been widely discredited, including by the Federal Bureau of Investigation and conservative organizations.” Gaffney was repudiated by the American Conservative Union, and barred from the powerhouse’s annual conservative CPAC confab.

128

HappyWarrior Fri, Jul 13, 2012 2:40:33pm

re: #127 Kragar

Dem. Rep. Demands ‘Credible, Substantial Evidence’ Of Bachmann’s Muslim Brotherhood Conspiracies

Pretty cool that Ellison's pointing out that even the ACU thinks Gaffney's off his nut. Too bad, Gaffney, Bachmann, and others will just accuse him of being a MB spy or some low crap like that because every Muslim is a terrorist.//

129

Someone Please Beam Me Up! Fri, Jul 13, 2012 2:45:28pm

re: #126 Mattand

These are the same people who watch Fox News and agree that Obama is waging a "class war" on the rich. They have no idea that they're on the losing side.

It's like a cow urging people to eat at Outback.

Haven't we also heard recent polls saying that people prefer tax increases on people making 250,000 or more per year to cuts to medicare or social security?

(After being burned so many, many times, I doubt poll numbers no matter where they come from. Even if the source is reputable, the intermediary probably isn't. And they're just to easy to manipulate, anyway.)

130

freetoken Fri, Jul 13, 2012 2:46:57pm

Today is Friday the 13th.

I wonder if Mitt noticed?

131

Mattand Fri, Jul 13, 2012 2:49:27pm

re: #129 Washed-Up-Clowns 'R' Us!

Haven't we also heard recent polls saying that people prefer tax increases on people making 250,000 or more per year to cuts to medicare or social security?

(After being burned so many, many times, I doubt poll numbers no matter where they come from. Even if the source is reputable, the intermediary probably isn't. And they're just to easy to manipulate, anyway.)

Yeah, I really try to ignore polls at all costs, for the reasons you cite. Worded properly, you could manipulate a poll that says people are okay with necrophilia.

132

Stormageddon, Dark Lord of All Fri, Jul 13, 2012 2:49:30pm

Wait, isn't lying under oath an Impeachable offense?
or IOIYAR?

133

goddamnedfrank Fri, Jul 13, 2012 2:52:16pm

Dave Weigel at Slate, kickin' it with the homies:

You can see how people got the idea that Romney was out, see-ya, exit-state-left when it came to Bain. But here's the weird part. The articles being cited clearly said that Romney had left the company but would provide some advice when it was needed. Here, for example, is the article referred to in the second bullet point.

“Romney said he will stay on as a part-timer with Bain, providing input on investment and key personnel decisions. But he will leave running day-to-day operations to Bain's executive committee.” (Greg Gatlin, “Romney Looks To Restore Olympic Pride,” The Boston Herald, 2/12/99)

When you go back over the explanations the Romney campaign used to beat back Obama/Priorities USA attacks, you see them fumbling the 1999/2002 distinction like a retired NFL-er with busted knees. In late May, for example, Ed Gillespie (a Romney adviser and surrogate) gave Romney credit for all the jobs created by Bain over its entire history -- not stopping in 1999, not even stopping in 2002. Every time Romney's been hit over something that happened after February 1999, it claimed more definitively than it could prove that he had nothing to do with that stuff.

You know, when the sole 100% stockholder, CEO, Chairman, and President is said to be "providing input" on "key personnel decisions," it means he retains ultimate hiring and firing authority. Which should be obvious. This means that the people who worked at Bain after Feb 1999, structuring deals for his signature, did so at his pleasure. Which should also be obvious.

How anybody gets from there to the idea he wasn't "involved" with the company is something I'm never going to understand.

134

freetoken Fri, Jul 13, 2012 2:55:15pm

In other news, signs indicate that Federal judges may strike down the Texas voter-ID law:

Judges raises doubts about Texas voter ID law

135

HappyWarrior Fri, Jul 13, 2012 2:55:48pm

re: #134 freetoken

In other news, signs indicate that Federal judges may strike down the Texas voter-ID law:

Judges raises doubts about Texas voter ID law

Activist liberal judges!

136

Targetpractice Fri, Jul 13, 2012 2:56:52pm

re: #135 HappyWarrior

Activist liberal judges!

Oligarchs in black robes!

137

goddamnedfrank Fri, Jul 13, 2012 2:57:44pm

Filed deep from within facepalm territory:

Among other things the Jan. 3 2000 SEC filing says, “W. Mitt Romney is principally engaged in the business of serving as sole stockholder of BCI VI, Inc. (Bain Capital Investors VI)” — and it contains his signature. That stands in contrast with various financial disclosure forms filed by Romney in recent years claiming that he left the company entirely to run the Salt Lake City Olympics in 1999.

138

Kragar Fri, Jul 13, 2012 3:00:13pm

Obama: ‘The Buck Stops With You’

“It’s pretty clear to me that I’m responsible for folks who are working in the federal government and you know, Harry Truman said the buck stops with you,” Obama said in an interview with TV station WJLA.

Obama noted that Romney, despite insisting he had no input into Bain’s operations after 1999 while on leave to run the Olympics, was listed in numerous SEC filings as the firm’s top officer.

“Now, my understanding is that Mr. Romney attested to the SEC, multiple times, that he was the chairman, CEO and president of Bain Capital, and I think most Americans figure if you are the chairman, CEO and president of a company that you are responsible for what that company does,” Obama said.

“Ultimately Mr. Romney, I think, is going to have to answer those questions, because if he aspires to being president, one of the things you learn is, you are ultimately responsible for the conduct of your operations, but again that’s probably a question that he’s going to have to answer and I think that’s a legitimate part of the campaign,” Obama said.

139

freetoken Fri, Jul 13, 2012 3:03:13pm

re: #138 Kragar

Obama: ‘The Buck Stops With You’

[...] and I think most Americans figure if you are the chairman, CEO and president of a company that you are responsible for what that company does,” Obama said.

Which has been my take all along - this is the political attack that can stick. This is not about a "gotcha!" notch on the internet belt about which to crow, but how a wanna-be leaders is perceived when said wanna-be wants to be owner and absent at the same time.

140

Mattand Fri, Jul 13, 2012 3:03:34pm

Since we're going OT:

Republicans cry foul over Obama welfare revisions

The dirty, lazy, poor people will now have it better than ever, apparently. The key here is the Administration isn't removing the work requirement, but they are looking at alternate ways to ease the requirement burden on the states.

I've already responded to one conservative Facebook freakout over this. If Fox News doesn't ratchet up the noise ASAP, they definitely have it on deck.

141

Charles Johnson Fri, Jul 13, 2012 3:05:10pm

re: #137 goddamnedfrank

Filed deep from within facepalm territory:

Here's that document embedded:

Scribd Document

142

freetoken Fri, Jul 13, 2012 3:05:12pm

Maine governor apologizes for 'Gestapo' remark about the IRS

[...]

LePage hoped his apology in his weekly radio address would bring an end to the weeklong furor that started when he described the Internal Revenue Service as the "new Gestapo" while criticizing President Barack Obama's health care overhaul.

LePage said it was "never my intent to insult or to be hurtful to anyone, but rather express what can happen by overreaching government."

[...]

Yeah, that's what the Gestapo was - government "overreach".

143

Someone Please Beam Me Up! Fri, Jul 13, 2012 3:06:30pm

re: #129 Washed-Up-Clowns 'R' Us!

Haven't we also heard recent polls saying that people prefer tax increases on people making 250,000 or more per year to cuts to medicare or social security?

(After being burned so many, many times, I doubt poll numbers no matter where they come from. Even if the source is reputable, the intermediary probably isn't. And they're just to easy to manipulate, anyway.)

Just TOO easy to manipulate. Long day.

144

Sionainn Fri, Jul 13, 2012 3:08:27pm

Romney on CNN right now.

145

HappyWarrior Fri, Jul 13, 2012 3:09:10pm

re: #142 freetoken

Maine governor apologizes for 'Gestapo' remark about the IRS

Yeah, that's what the Gestapo was - government "overreach".

Yeah because being expected to pay your taxes is just like being terrorized by Nazis. LePage needs a good history lesson and a kick in the ass to reality.

146

goddamnedfrank Fri, Jul 13, 2012 3:12:12pm

Washington Post, touching your swimsuit area:

LACONIA, N.H. Romney: No role in Bain Capital management after 1999 but was still a shareholder.

A shareholder or the shareholder? Good going WaPo, publish an article containing all of one fucking sentence that's nothing but a deceptive half truth. What the hell is this shit?

147

gwangung Fri, Jul 13, 2012 3:12:41pm

re: #139 freetoken

Which has been my take all along - this is the political attack that can stick. This is not about a "gotcha!" notch on the internet belt about which to crow, but how a wanna-be leaders is perceived when said wanna-be wants to be owner and absent at the same time.

Honestly, that's a very fair question to ask. Just how responsible are you? Who did you appoint? What sort of oversight did you have? If it was nominal, then we want the guy who actually did make the decisions....

148

Talking Point Detective Fri, Jul 13, 2012 3:29:59pm

Sore: #14 Killgore Trout

So, if i get your argument - you're saying that he did all that amazing work for the Olympics while working part time? Bad argument.

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Bain Press Release Described Romney as ‘Part-Time’ CEO in July 1999

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