re: #255 A Mom Anon

I’m late to the party on this one(story of my life),but what exactly was Bain Capital doing during the time Romney was supposedly not in charge? I think that’s relevant if he’s going to so much trouble to make the point that he sees nothing and knows nothing about what went on during the time period in question. What is he hiding? Legal or not,he’s protesting a bit too much. If there was nothing to hide,why all the denial?

I haven’t seen him really say a word about it the last 24 hours

Bain has made a statement carried in several news services

One here from the LA Times. Another (similar) I saw in USA Toady yesterday
People want to conflate ownership with management authority. That’s the distinction here,” said a Romney advisor who was not authorized to speak on the record.

The advisor said the formal transfer of ownership of Bain took several years because Romney’s departure to run the Olympics was so sudden.

“There was no succession plan,” the advisor said. “When it was clear that he wasn’t coming back to Bain, they figured out what his retirement package would be.”

Bain Capital released a statement saying Romney “has had absolutely no involvement with the management or investment activities of the firm or with any of its portfolio companies since the day of his departure” in February 1999.

“Due to the sudden nature of Mr. Romney’s departure, he remained the sole stockholder for a time while formal ownership was being documented and transferred to the group of partners who took over management of the firm in 1999,” the statement said. “Accordingly, Mr. Romney was reported in various capacities on SEC filings during this period.”