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In the last two days the accusations have been flying hard and heavy between the Obama Camp and the Romney campaign. It appears that Mitt Romney lied on Campaign Financial Disclosure Forms where he stated:

“Mr. Romney retired from Bain Capital on February 11, 1999 to head the Salt Lake Organizing Committee. Since February 11, 1999, Mr. Romney has not had any active role with any Bain Capital entity and has not been involved in the operations of any Bain Capital entity in any way.”

But in a Bain Capital Press release dated on July 19, 1999 we read,

Geoffrey S. Rehnert and Marc B. Wolpow Team Up to Start New Private Equity Firm

July 19, 1999--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. Mr. Rehnert has been associated with Bain Capital, a leading private investment firm based in Boston, since its inception in 1984; Mr. Wolpow joined in 1990. At the same time, Mr. Rehnert and Mr. Wolpow announced they will be forming a new firm, the Audax Group, initially focusing on private equity for middle market companies.

"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."

Mr. Wolpow added, "We believe the Audax Group will play a pivotal role in the middle market for private equity buyouts and that the market there remains relatively underserved. We expect to work with our former Bain Capital colleagues as partners on future investment transactions and appreciate their support in helping us establish our new company."

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."

CONTACT:
Regan Communications
D'Jamila Salem Fitzgerald, (617) ###-####
or
Bain Capital, Inc.
Josh Bekenstein, (617) ###-####
http://www.dailykos.com/story/2012/07/1 ... -July-1999

Lying on a Presidential Financial Disclosure statement is a felony. Even his wife Ann, seems confused. If Romney left Bain for good in Feb. of 1999, why would she make this comment:

“The [Olympics] project is running smoothly now, though still requiring so much of Mitt Romney’s time that he has had to lessen his involvement with Bain Capital, his investment firm.” ~Ann Romney, November 11, 2000.

If Romney had nothing at all to do with Bain since 1999, why does she call it "his firm", and say in 2000 (almost 2 years later) that he had to "lessen his involvement". Nothing to do with, means nothing to do with, doesn't it? Yet the Boston Globe reported on February 12, 1999:

“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)

It seems that he did just that with Bain Capital NY. In 2001 and 2002, Romney filed Massachusetts state disclosure forms noting he was the 100 percent owner of this Bain venture. But Bain Capital NY was incorporated in Delaware on April 13, 1999—two months after Romney's supposed retirement from the firm. Was Romney uninvolved with the incorporation of a new Bain entity—which only he owned—after his departure?

Then there's those pesky SEC filings that show that Romney was still collecting a salary of over $100,000 for multiple years after he said he left Bain. He is also listed as the CEO, President and Managing director and his principal occupation was managing director of Bain Capital. I would love to be collecting a salary for doing nothing. http://talkingpointsmemo.com/archives/2 ... n_1999.php

In April 1999, Romney signed documents related to a Bain deal with Pirod Holdings.

In November of that year, his signature appears on documents connected to a deal with Stericycle.

In January 2000, he signed paperwork for a deal with VMM Merger Corp.

His John Hancock appears on ChipPAC Inc. documents in February 2001.

That same month, Romney's signature can be found on paperwork connected to a Bain deal with Integrated Circuit Systems Inc.

In February 2000, he signed documents related to a deal with Wesley Jessen Visioncare Inc. http://www.huffingtonpost.com/2012/07/1 ... 71819.html

In Romney’s 2002 race for governor, he testified before the state Ballot Law Commission that his separation from Bain in 1999 had been a “leave of absence” and not a final departure.

Romney invested in companies that outsourced jobs to china

http://www.motherjones.com/politics/201 ... lobal-tech

Invested in a Medical Waste Disposal Company that disposed of Aborted Fetuses,

http://www.motherjones.com/politics/201 ... icycle-sec

And just two days ago, Romney stated to Neil Cavuto on July 11, "if you're responding, you're losing". Today, he went on five networks and "responded" and affirmed once again that he won't release any more tax returns, which might clear this up. It appears from all this that Romney is losing - losing his grip on reality.

Yes this isn't looking good for Romney at all. I mean he's pretty much left with the argument of, "I was making $100,000 a year as CEO while doing absolutely nothing for the company." I'm sure that's going to go over well with the American people who keep hearing about how Romney's gets his money from his "hard work."

Obama’s ‘Outsourcer’ Overreach:
http://factcheck.org/2012/06/obamas-out ... overreach/


FactCheck to Obama Camp: Your Complaint is All Wet:
http://factcheck.org/2012/07/factcheck- ... s-all-wet/


Romney’s Bain Years: New Evidence, Same Conclusion:
http://factcheck.org/2012/07/romneys-ba ... onclusion/

Jill E. Fisch, a professor at the University of Pennsylvania Law School and co-director of the Institute for Law and Economics, said Romney would not have committed a felony by listing himself as managing director — even if he now claims he had no role in running the company after February 1999. There is no legal obligation to describe how active one is in the day-to-day management of the company, she said. And just because he held title of managing director doesn’t necessarily mean that he’s responsible for decisions like layoffs or outsourcing.

“If that really mattered to investors, they might consider that a civil liability, but we wouldn’t be talking about a felony,” she said.

We would reassess our judgment should somebody come up with evidence that Romney took part in specific management decisions or had any active role (not just a title) at Bain after he left to head the Olympics. But nothing we’ve seen directly contradicts Romney’s statements — which he has certified as true under pain of federal prosecution — that he “has not had any active role” with Bain or “been involved in the operations” of Bain since then.

Factcheck is acting strangely here. They seem hung up on disputing that Romney was actively running the company day to day, and whether he is guilty of a felony.

The only thing the Obama camp needed to show is that he was the guy "in charge" during that time. If the company had been the target of any legal action during those three years, he would have been held liable, as owner, CEO and president.

He bears responsibility for the actions of his wholly owned company while he was legally the CEO. It doesn't matter whether he personally ordered a factory shut down. He was in charge, supposedly the stopping place for any bucks.

What's more, the company was just continuing the same methods during his time in SLC that they had been using in the previous years. Is he trying to say that his corporate chop-shop employees went "rogue" on him after he left town, and started doing all kinds of terrible things with which he didn't agree? Nonsense.

krose wrote:factcheck is acting strangely here. They seem hung up on disputing that Romney was actively running the company day to day, and whether he is guilty of a felony.

The only thing the Obama camp needed to show is that he was the guy "in charge" during that time. If the company had been the target of any legal action during those three years, he would have been held liable, as owner, CEO and president.

He bears responsibility for the actions of his wholly owned company while he was legally the CEO. It doesn't matter whether he personally ordered a factory shut down. He was in charge, supposedly the stopping place for any bucks.

What's more, the company was just continuing the same methods during his time in Salt Lake City that they had been using in the previous years. Is he trying to say that his corporate chop-shop employees went "rogue" on him after he left town, and started doing all kinds of terrible things with which he didn't agree? Nonsense.

I agree, Factcheck seems to be missing the point here. I mean they might have a point on a technicality, but Romney will never be able to convince the American people that he was the acting CEO and 100% owner of a company, but that he had no control over what it was doing at the time. Besides, the comments from BAIN, its business documents, Romney and even Romney's wife contradict their current claim.

I'm interested to see what one of the former Bain guys says on Up With Chris Hayes tomorrow morning.

grindael wrote:In Romney’s 2002 race for governor, he testified before the state Ballot Law Commission that his separation from Bain in 1999 had been a “leave of absence” and not a final departure.

under oath before the ballot law commission he also said:
"[T]here were a number of social trips and business trips that brought me back to Massachusetts, board meetings, Thanksgiving and so forth."

but last night on CBS he says:
"I was in Salt Lake City for three straight years. I don’t recall even coming back once to go to a Bain or management meeting."

this guy is a mess. Mormons deserve better.

Deseret News, July 17, 1999:

Billionaire industrialist Jon Huntsman called a press conference Friday to pledge his support not only for the Games but for Salt Lake Organizing Committee President Mitt Romney.The announcement could mark the end of a five-year feud between Olympic organizers and Utah's most powerful businessman and philanthropist. "It will now be a privilege to help SLOC raise money from outside the state and to otherwise help promote the Games," Huntsman said. [..] Huntsman's about-face came after three days of meetings with Romney, Gov. Mike Leavitt and SLOC Board Chairman Robert Garff -- meetings called after Huntsman's frustration became increasingly evident through a series of media interviews critical of Romney's efforts to raise money, among other issues.

Deseret News, 19 months later, Feb 24, 2001:

Huntsman Corp. Friday announced a deal in which venture capital firm Bain Capital Inc. will invest more than $600 million in Huntsman. [...] SLOC spokeswoman Caroline Shaw said Friday that Romney is on leave of absence from his position as Bain Capital's chief executive officer. "He had nothing to do with this specific transaction," Shaw said. "His efforts are currently completely committed to the Salt Lake Organizing Committee." Huntsman spokesman Don H. Olsen agreed that "this transaction had nothing to do with (Romney)."

palerobber wrote:this guy is a mess. Mormons deserve better.

He might think these fibs are necessary so he can help keep the Constitution from hanging by a thread. Besides, this saves him a bundle on taxes.

Those "factcheck" sites, don't even take into account all the evidence that I presented. One of Romney's former Managers was on Up with Chris Hayes today, and admitted that Romney was owner, but that he "couldn't recall" if he was at any meetings. Well, that doesn't factor in conference calls. Seems like Romney thinks no one ever heard of one of those. It would allow him to be involved in Bain and live in Utah. Lots of CEO's use that method when they are away. How many people that wealthy own all the stock in a company, are CEO and Managing Director (a lie then on the SEC Forms if Romney wasn't) and has absolutely nothing to do with the company but still draws a SALARY (not stock options). Romney wants it both ways, but again HIS OWN STATEMENTS - the words out of his own mouth, and his signature on documents, prove him to be a liar.