Bain Capital: Romney Left In February 1999

[ProSense]

Bain Capital: Romney Left In February 1999

Bain Capital released a statement Thursday saying Mitt Romney left the company in 1999 to run the Olympics.

Via Politico:

Mitt Romney left Bain Capital in February 1999 to run the Olympics and 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. 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. Accordingly, Mr. Romney was reported in various capacities on SEC filings during this period.

http://livewire.talkingpointsmemo.com/entries/bain-capital-romney-left-in-february-1999

Bain: Oops!


http://www.democraticunderground.com/1002935125

Romneyland responds: 'This is nothing more than a quirk in the law'
http://www.democraticunderground.com/1002935930

[Coexist]

1. prove it.

was his signature on anything after that? Was he noted in minutes? is it SEC fraud?

[madmom]

2. It took them 3 years to get this fixed? If what they are saying is

he was still listed because the names were not documented along with the transfer of ownership. Why did it take 3 years to fix it?
If I leave a job it is noted immediately, if I sell my house the transfer is noted in short order, not in three years. If I am no longer owner of something but my name is still listed as owner, am I not responsible for anything it does? eg, car ownership-accident, gun ownership-shooting, etc.
This just doesn't past the smell test.

[C_U_L8R]

3. Lets see his taxes

they will reveal much

[Segami]

4. Bingo!

[Igel]

5. About this?

Like what?

Earned income at investment companies is investment income.

[muriel_volestrangler]

6. Romney’s state financial disclosure forms indicate he earned at least $100,000 as a Bain “executive”

in 2001 and 2002, separate from investment earnings.

That's in the Boston Globe excerpt in the OP. This was far beyond "Mr. Romney was reported in various capacities on SEC filings during this period". He was a salaried employee. And $100,000 may be chicken feed to him, but it's more than most of us will ever earn in a year.