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July 2012, Week 2

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Sat, 14 Jul 2012 00:34:58 -0400
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[Three investigative articles published in the last two
weeks document the contradiction between Mitt Romney's
claim that he left Bain Capital in 1999 and the reports
filed by Bain with the Securities and Exchange
Commission that tell a different story. Below are
the links to these articles in Mother Jones magazine,
Talking Points Memo website and the Boston Globe --
moderator.]

=====
11111

Romney Invested in Medical-Waste Firm That Disposed of
Aborted Fetuses, Government Documents Show

And these documents challenge Romney's claim that he
left Bain Capital in early 1999.

By David Corn
Mon Jul. 2, 2012
Mother Jones
http://www.motherjones.com/politics/2012/07/romney-bain-abortion-stericycle-sec

Earlier this year, Mitt Romney nearly landed in a
politically perilous controversy when the Huffington
Post reported that in 1999 the GOP presidential
candidate had been part of an investment group that
invested $75 million in Stericycle, a medical-waste
disposal firm that has been attacked by anti-abortion
groups for disposing aborted fetuses collected from
family planning clinics. Coming during the heat of the
GOP primaries, as Romney tried to sell South Carolina
Republicans on his pro-life bona fides, the revelation
had the potential to damage the candidate's reputation
among values voters already suspicious of his shifting
position on abortion.

But Bain Capital, the private equity firm Romney
founded, tamped down the controversy. The company said
Romney left the firm in February 1999 to run the
troubled 2002 Winter Olympics in Salt Lake City and
likely had nothing to with the deal. The matter never
became a campaign issue. But documents filed by Bain and
Stericycle with the Securities and Exchange Commission-
and obtained by Mother Jones-list Romney as an active
participant in the investment. And this deal helped
Stericycle, a company with a poor safety record, grow,
while yielding tens of millions of dollars in profits
for Romney and his partners. The documents-one of which
was signed by Romney-also contradict the official
account of Romney's exit from Bain. ... [For more, click
link above.-- moderator]

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22222

No, Romney Didn't Leave Bain in 1999

Josh Marshall 
July 10, 2012
http://talkingpointsmemo.com/archives/2012/07/no_romney_didnt_leave_bain_in_1999.php

A central element of the 2012 campaign cycle has become
just when Mitt Romney left Bain Capital. The Romney
campaign says he left in early 1999 - in time to get him
off the hook for some controversial investments.
Factcheck.org backs up Mitt while David Corn and the
Obama campaign have brought forward numerous pieces of
documentary evidence indicating he didn't leave until a
couple years later.

Now here's even more evidence that he didn't leave in
1999 as he now claims.

The gist of the disagreement comes down to this: There's
no question that numerous public filings and some
contemporaneous press references say Romney was still
running things at Bain after 1999. But his campaign
insists that whatever securities filings may have said,
in practice, he was so busy running the 2002 Winter
Olympics that he actually had no role at Bain after
early 1999. That's possible in theory. But there's no
evidence for it besides self-interested claims by
Romney. And there's plenty of documentary evidence to
the contrary. After all, what you tell the SEC is really
supposed to be true.

But here's the thing. I've found yet more instances
where Romney made declarations to the SEC that he was
still involved in running Bain after February 1999. To
the best of my knowledge, no one has yet noted these.
... [For more, click link above.-- moderator]

=====
33333

Romney Stayed Longer at Bain

Firm's 2002 filings identify him as CEO, though he said
he left in 1999

By Callum Borchers and Christopher Rowland
Globe Correspondent Globe Staff / 
July 12, 2012
Boston Globe
http://www.boston.com/news/politics/articles/2012/07/12/government_documents_indicate_mitt_romney_continued_at_bain_after_date_when_he_says_he_left/

Government documents filed by Mitt Romney and Bain
Capital say Romney remained chief executive and chairman
of the firm three years beyond the date he said he ceded
control, even creating five new investment partnerships
during that time.

Contact the candidates
Click to raise your voice on the campaign.
Romney has said he left Bain in 1999 to lead the winter
Olympics in Salt Lake City, ending his role in the
company. But public Securities and Exchange Commission
documents filed later by Bain Capital state he remained
the firm's "sole stockholder, chairman of the board,
chief executive officer, and president."

Also, a Massachusetts financial disclosure form Romney
filed in 2003 states that he still owned 100 percent of
Bain Capital in 2002. And 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.

The timing of Romney's departure from Bain is a key
point of contention because he has said his resignation
in February 1999 meant he was not responsible for Bain
Capital companies that went bankrupt or laid off workers
after that date. ... [For more, click link above.--
moderator]

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