AP: Romney Remained Involved With Bain Capital Through 2001

More evidence that someone’s not telling the truth
Politics • Views: 27,075

The Associated Press has new information today on Mitt Romney’s disputed departure from Bain Capital; several sources are confirming that Romney remained an active participant in Bain business dealings through the spring of 2001: FACT CHECK: Romney-Bain Contacts Outlasted Exit.

WASHINGTON (AP) — Republican presidential candidate Mitt Romney has said he had no active role in Bain Capital, the private equity firm he founded, after he exited in February 1999 to take over Salt Lake City’s Winter Olympics bid. But according to Bain associates and others familiar with Romney’s actions at the time, he stayed in regular contact with his partners over the following months, tending to his partnership interests and negotiating his separation from the company.

Those familiar with Romney’s discussions with his Bain partners said the contacts included several meetings in Boston, the company’s home base, but were limited to matters that did not affect the firm’s investments or other management decisions. Yet Romney continued to oversee his partnership stakes even as he disengaged from the firm, personally signing or approving a series of corporate and legal documents through the spring of 2001, according to financial reports reviewed by The Associated Press.

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51 comments
1 blueraven  Wed, Jul 25, 2012 11:37:31am

drip. drip. drip.

2 HappyWarrior  Wed, Jul 25, 2012 11:38:06am

This isn't going away.

3 Targetpractice  Wed, Jul 25, 2012 11:38:08am

Yes, but what got Glenn Kessler have to say about it?

///

4 dragonfire1981  Wed, Jul 25, 2012 11:38:34am

But, but, he retired RETROACTIVELY remember!

5 Bulworth  Wed, Jul 25, 2012 11:39:58am

I already debunked this stuff. You people just don't understand how big business works, mkay?

--Glenn Kessler

6 Killgore Trout  Wed, Jul 25, 2012 11:40:16am

re: #3 Targetpractice

Yes, but what got Glenn Kessler have to say about it?

///

He'll probably yawn and link to previous articles he's already written. I'm not sure if there's anything new here.

7 erik_t  Wed, Jul 25, 2012 11:40:28am

re: #1 blueraven

drip. drip. drip.

Fits in with the campaign theme of derp, derp, derp.

8 researchok  Wed, Jul 25, 2012 11:40:42am

More muddy waters, in my opinion.

In any event, this would have been a tempest in a teapot had Romney been more upfront about his Bain ties.

Negotiating an exit package or dealing with partnership interests are hardly noteworthy.

Why he wasn't upfront about it all is very noteworthy.

9 HappyWarrior  Wed, Jul 25, 2012 11:43:08am

re: #8 researchok

More muddy waters, in my opinion.

In any event, this would have been a tempest in a teapot had Romney been more upfront about his Bain ties.

Negotiating an exit package or dealing with partnership interests are hardly noteworthy.

Why he wasn't upfront about it all is very noteworthy.

I think that goes to heart of it. He would have made this a small issue if he had chosen to be more upfront but he's chosen not to which I think is the real problem many have.

10 Gus  Wed, Jul 25, 2012 11:44:25am

Romney’s Bain case crumbles a bit more
By Greg Sargent

Romney can continue to argue, of course, that he had no direct role in the deals in question. But that argument is growing less relevant as more information about his ties to the company leaks out. The broader argument — that he isn’t at all responsible for the company’s activities and shouldn’t be associated with them in any way — is a tough political case to make. And the fact checkers seem to be moving away from him on it.

11 researchok  Wed, Jul 25, 2012 11:44:45am

re: #9 HappyWarrior

That is what bothers me most of all.

12 engineer cat  Wed, Jul 25, 2012 11:45:52am

Romney can continue to argue, of course

keeping him arguing is the point

13 Gus  Wed, Jul 25, 2012 11:46:46am

re: #12 engineer cat

Romney can continue to argue, of course

keeping him arguing is the point

Operation Piss Off Romney

14 Gus  Wed, Jul 25, 2012 11:47:16am

re: #13 Gus

Operation Piss Off Romney

Probably should be, Operation Make Romney Get Pissed Off.

15 researchok  Wed, Jul 25, 2012 11:47:30am

re: #13 Gus

More like Piss On Romney.

16 b_sharp  Wed, Jul 25, 2012 11:47:34am

re: #13 Gus

Operation Piss Off Romney

#OPOR goes on your tweets.

17 Sheila Broflovski  Wed, Jul 25, 2012 11:47:52am

BWAHAHA, Priceless!

18 HappyWarrior  Wed, Jul 25, 2012 11:47:54am

re: #11 researchok

That is what bothers me most of all.

I think the same has happened with the tax issue. People don't like being taken for a ride and that's what it seems Romney and his team are doing here.

19 Targetpractice  Wed, Jul 25, 2012 11:48:19am

re: #6 Killgore Trout

He'll probably yawn and link to previous articles he's already written. I'm not sure if there's anything new here.

And again, all he can do is try to argue that Romney didn't have a direct role in managing the company. He's lost the argument that Romney bears no responsibility and his refusal to acknowledge that is pointless.

20 b_sharp  Wed, Jul 25, 2012 11:48:21am

re: #17 Learned Mother of Zion

BWAHAHA, Priceless!

[Embedded content]

Ewww.

21 allegro  Wed, Jul 25, 2012 11:48:29am

I think it's all just a diversion from the real issues about Romney making a chunk of his vast fortune from quite unsavory (to most of us) investments in off-shoring jobs and profiting from abortion. He can't exactly be in a position to decry these issues from the position of a presidential candidate when they have paid for a few of his mansions, multi-million dollar trust funds for his sons, and enabled him to try to buy the office.

22 blueraven  Wed, Jul 25, 2012 11:48:30am

re: #6 Killgore Trout

He'll probably yawn and link to previous articles he's already written. I'm not sure if there's anything new here.

Not really no...Glenn Kessler:

[Link: littlegreenfootballs.com...]

Moreover, as we have previously noted:

— a news release was issued by Bain Capital in July 1999 quoting Romney on the departure of Bain partners. The news release described him as being on ‘part-time leave of absence.’

— the 1999-2001 annual reports of Staples and Marriott International, on whose boards Romney served, continued to list him as heading Bain and various Bain funds. The descriptions are based on a questionnaire that the board director must personally provide.

So we are at an impasse. Because of the ambiguity, there is considerable room for interpretation of known facts. Going forward, unless new evidence emerges, on a case-by-case basis we may withhold the awarding of Pinocchios when the claim rests mostly on the question of when Romney stopped managing Bain Capital.

23 Killgore Trout  Wed, Jul 25, 2012 11:53:28am

re: #21 allegro

I think it's all just a diversion from the real issues about Romney making a chunk of his vast fortune from quite unsavory (to most of us) investments in off-shoring jobs and profiting from abortion. He can't exactly be in a position to decry these issues from the position of a presidential candidate when they have paid for a few of his mansions, multi-million dollar trust funds for his sons, and enabled him to try to buy the office.

I think that's a fair argument. The overreach of trying to claim that Mitt was secretly running the company and/or lying to the SEC has watered down the issue.

24 nines09  Wed, Jul 25, 2012 11:54:01am

In Romney world there is "Us" and "You People." He should just come out and scream "Hello Suckers!" In fact I think he's been subliminally sending that message all along. He gives new meaning to the term "stiff."

25 erik_t  Wed, Jul 25, 2012 11:54:40am

re: #23 Killgore Trout

I think that's a fair argument. The overreach of trying to claim that Mitt was secretly running the company and/or lying to the SEC has watered down the issue.

So then you reject the AP article (and the heap of others on which this sits) as over-reach because...?

26 Amory Blaine  Wed, Jul 25, 2012 11:54:42am

Bah it's just legal mumbo jumbo.

27 blueraven  Wed, Jul 25, 2012 11:56:35am

re: #23 Killgore Trout

I think that's a fair argument. The overreach of trying to claim that Mitt was secretly running the company and/or lying to the SEC has watered down the issue.

Even Glenn Kessler has backed off about when Romney actually left Bain, when will you?

28 darthstar  Wed, Jul 25, 2012 11:57:43am

Romney's spent the last month trying, and failing, to control the narrative.

29 Kragar  Wed, Jul 25, 2012 11:58:35am
30 Targetpractice  Wed, Jul 25, 2012 11:59:03am

re: #28 darthstar

Romney's spent the last month trying, and failing, to control the narrative.

Spent it flailing around in desperation, the latest being full-on distortion of Obama's words.

31 Amory Blaine  Wed, Jul 25, 2012 11:59:07am

I like all the Bain pressure on Romney, but I seriously would like his last 12 years of tax returns released.

32 allegro  Wed, Jul 25, 2012 12:00:14pm

re: #23 Killgore Trout

I think that's a fair argument. The overreach of trying to claim that Mitt was secretly running the company and/or lying to the SEC has watered down the issue.

Perhaps, but it has kept the issue in front to the point where he will have to answer for it, release taxes, etc. or pay the price for lack of transparency. There is no overreach, IMO and claims made by the Obama campaign have been pretty well demonstrated as true, despite attempts to divert.

33 allegro  Wed, Jul 25, 2012 12:03:36pm

re: #32 allegro

Perhaps, but it has kept the issue in front to the point where he will have to answer for it, release taxes, etc. or pay the price for lack of transparency. There is no overreach, IMO and claims made by the Obama campaign have been pretty well demonstrated as true, despite attempts to divert.

By "divert" I meant the Romney campaign trying to divert attention away from the investments by saying Romney wasn't involved despite the fact that he was CEO and sole shareholder. THAT is what started all of this. It's all squarely at his feet.

34 Gus  Wed, Jul 25, 2012 12:06:00pm

Romney's message still has a double meaning even if you take him at his word. He's trying to distance himself from the post-Romney Bain Capital. Why doesn't he flat out say, "yes I was still involved with Bain after 1999 and I'm damn proud of it." Instead all we hear from him is, "don't look at me I left in 1999, but they're still a great organization."

35 Gus  Wed, Jul 25, 2012 12:06:45pm

Add to this the fact that the 2002 Winter Olympics was also infused with a great deal of federal and state support.

36 JamesWI  Wed, Jul 25, 2012 12:07:20pm

re: #25 erik_t

So then you reject the AP article (and the heap of others on which this sits) as over-reach because...?

Lefties. Always the lefties.

37 HappyWarrior  Wed, Jul 25, 2012 12:07:42pm

Seems to me he wants it both ways on the Bain issue.

38 Gus  Wed, Jul 25, 2012 12:07:58pm

re: #36 JamesWI

Lefties. Always the lefties.

TPM, Think Progress, Daily Kos... Little Green Footballs!!11ty

//

39 erik_t  Wed, Jul 25, 2012 12:08:19pm

re: #34 Gus

Romney's message still has a double meaning even if you take him at his word. He's trying to distance himself from the post-Romney Bain Capital. Why doesn't he flat out say, "yes I was still involved with Bain after 1999 and I'm damn proud of it." Instead all we hear from him is, "don't look at me I left in 1999, but they're still a great organization."

If the righteous company he built immediately fell into a pit of unsavory practices immediately after he left, that doesn't speak well to Romney's ability to hire good and decent and trustworthy people. I hear that the executive branch has to do some of that.

40 Gus  Wed, Jul 25, 2012 12:08:44pm

re: #37 HappyWarrior

Seems to me he wants it both ways on the Bain issue.

Exactly. He does. It's plain as the light of day.

41 Brother Holy Cruise Missile of Mild Acceptance  Wed, Jul 25, 2012 12:09:55pm

O/T but sounds like PA gov Corbett might have played politics with the Sandusky investigation to avoid dealing with it when he ran for gov.

42 Gus  Wed, Jul 25, 2012 12:10:02pm
43 Varek Raith  Wed, Jul 25, 2012 12:10:34pm

re: #6 Killgore Trout

He'll probably yawn and link to previous articles he's already written. I'm not sure if there's anything new here.

Of course you don't.
You made up your mind on this a while ago.
Nothing will now dissuade you of this.

44 Gus  Wed, Jul 25, 2012 12:10:39pm

Poor Mittens. Nobody wuvs him. Not even the "real" conservatives wuv him.

//

45 darthstar  Wed, Jul 25, 2012 12:11:10pm

Team Romney wants to say the Anglo-Saxon heritage story is inaccurate, but they aren't demanding a retraction.

46 Lidane  Wed, Jul 25, 2012 12:13:40pm

re: #42 Gus

Gee. You mean people don't like rich, patrician Masshole politicians?

What a surprise. Romney = Kerry with even less charisma, if that's possible.

47 HappyWarrior  Wed, Jul 25, 2012 12:13:51pm

re: #45 darthstar

Team Romney wants to say the Anglo-Saxon heritage story is inaccurate, but they aren't demanding a retraction.

[Embedded content]

The usual Romney method, we want it both ways.

48 lawhawk  Wed, Jul 25, 2012 12:15:57pm

re: #35 Gus

Not that there's anything wrong with the federal assistance. It upgraded facilities at the SLC airport (one of my favorites to fly to), made the access roads to and from venues far better, and helped fund improvements to the venues themselves (many still in use for world class events). Not a bad legacy.

49 VividBlueDotty  Wed, Jul 25, 2012 12:16:33pm
I'm not sure if there's anything new here.

Exactly. But we don't need Pinocchios to know that Romney lies. Blatantly. All the time. Lather, rinse, repeat.

50 allegro  Wed, Jul 25, 2012 12:18:56pm

re: #35 Gus

Add to this the fact that the 2002 Winter Olympics was also infused with a great deal of federal and state support.

From which he appears to have profited as well. Millions of dollars of infrastructure paid for by taxes increased his property value there significantly.

51 nines09  Wed, Jul 25, 2012 1:31:02pm

re: #41 Brother Holy Cruise Missile of Mild Acceptance

O/T but sounds like PA gov Corbett might have played politics with the Sandusky investigation to avoid dealing with it when he ran for gov.

Lots of shadows. Like this.
Now I'm no conspiracy kook and I am not promoting any such idea, but it doesn't add up. Corbett? He had bigger fish to fry at that time. Screw a couple of hick kids, IMHO. Corbett was Pa State AG at the time Gricar went missing.


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