advertisement
Deals | News | Forums

 

AAPL stock: $433.26 ( -1.32 )

*Cached every 60 seconds. For live updating, Click Here

You are currently viewing the 'Friendly' Political Ranting forum
Seems Mr. Romney was untruthful
Posted by: RgrF
Date: July 12, 2012 06:48AM
Wonder what our wingnuts here would be frothing about if the shoe were turned?

Quote
Mitt Romney has repeatedly sought to distance himself from some business dealings at Bain Capital by asserting that he left the firm in February 1999, but a review of public records shows that his authority lingered for three more years as Bain repeatedly listed him on government filings as the man in charge. Until 2002, when Romney and Bain Capital finalized a severance agreement, he remained the firm’s “sole stockholder, chairman of the board, chief executive officer and president,” according to SEC documents. The description was applied even to the creation of five new Bain partnerships a full three years after Romney has said he relinquished all control.

Must have been an administrative oversight, good thing he was never involved with ACORN.

Boston Globe
Options:  Reply • Quote
Re: Seems Mr. Romney was untruthful
Posted by: Avenger
Date: July 12, 2012 06:54AM
>>Wonder what our wingnuts here would be frothing about if the shoe were turned?<<

Troll!
Options:  Reply • Quote
Re: Seems Mr. Romney was untruthful
Posted by: Chakravartin
Date: July 12, 2012 06:55AM
Didn't that already come out with the whole Romney made $50 million bucks "disposing of aborted embryos" thing?

...

Yep.

[www.examiner.com]

In 1999, Mitt Romney and his investment group invested $75 million dollars in Stericycle, a medical waste disposal company that services abortion clinics. According to an article published by Mother Jones on Monday, Romney and his partners made $49 million in profits from that investment...

The Huffington Post unearthed this story during the primaries, but the Romney Campaign and Bain Capital misled them saying the Stericycle investment came after Romney left Bain Capital to run the Olympics. So, the story died out—until now...

The SEC filing lists assorted Bain-related entities that were part of the deal, including Bain Capital (BCI), Bain Capital Partners VI (BCP VI), Sankaty High Yield Asset Investors (a Bermuda-based Bain affiliate), and Brookside Capital Investors (a Bain offshoot). Mitt Romney was listed as the "sole shareholder, Chairman, Chief Executive Officer and President” of those entities.

The document also states that Romney had the authority to votes the shares and exercise “dispositive power with respect to the shares of common stock in Stericycle in his capacity as sole shareholder” of the Bain entities that invested in the company. Romney signed the original copy of the filing. Another SEC document filed by Stericycle also names Romney in that capacity...

In 2001 and 2002, Romney filed Massachusetts state disclosure a form noting he was the 100 percent owner of Bain Capital NY, Inc.—a Bain outfit that was incorporated in Delaware on April 13, 1999—two months after Romney's supposed retirement from the firm.

A May 2001 filing with the SEC identified Romney as "a member of the Management Committee" of two Bain entities. And in 2007, the Washington Post reported that Bain lawyer R. Bradford Malt said Romney took a "leave of absence" when he assumed the Olympics post and retained sole ownership of the firm for two more years.


I wonder how much effort those Boston Globe reporters put into the story, given that it broke more than a week before they got around to publishing their own version.
Options:  Reply • Quote
Re: Seems Mr. Romney was untruthful
Posted by: Avenger
Date: July 12, 2012 07:01AM
Hey, shiny spoon!
Options:  Reply • Quote
Sorry, only registered users may post in this forum.

Click here to login