re: #568 ozbloke

I will accept your point re: 2001 as I don’t know the details.
So you would agree that until 2001, Mitt was in control?

I would agree that until 2001, he had a hired management team to run his company. That is not an uncommon thing to do. Someone who inherits a company for instance may still want to own it, so they hire a team of professional managers. The IRS distinguishes between the two—there are various passive income rules that depending on how you file, having a hired manager of your company is one factor used to determine whether your investment activity is passive or not. In this case, Romney no longer actively managed his company.