Skip to main content

        You need not look very far; just Google or Bing Mitt Romney, Bain with the number 1999. You will see - over and over again - denotes fo the fact that Mitt Romney "purportedly" left Bain in 1999. Yet, we would like to make you aware of 3 issues per that contention.

No. 1 - Mitt Romney was the defacto CEO of Bain [Capital] until August 2001

No. 2 - Even Wikipedia now denotes Mittens took a "leave of abense" for Olympics.

NO. 3 - Mitt Romney Campaign Fails to Comment on NEW EvidenceCEO Bain 2001

         Now that it would take an 'Act of G-d' to stop Mitt Romney from sealing the GOP nomination with his delegate count being 989, needing 155 and Texas next with exactly 155 delegates (if not TX at the end of May - CA's massive delegates on June 5 are a near surety). Thus, more attention, research and people are paying attention to the issues of Mitt Romney & his Bain history. If you think not - just take a look at who is NOW following me on Twitter;

Newtgingrich 2012 @NewtGingrichPAC is now following you (@laserhaas01).    
  NewtGingrichPAC Newtgingrich 2012
Conservative, business person supporting Newt 2012. It's time to take America Back get your FREE bumper sticker  
        Newt Gingrich's camp and I spoke, briefly, prior to his release of the King of Bain movie. In a way we are blessed, that Newt did not do a Real attack on the Bain issues. Most likely, this SuperPAC will "un" follow me. But the fact that they are still paying attention to the issue is apropos. Will tell you why - below the fold.

UPDATE June 4, 2012

Obama's Campaign Website Proof Romney is Bain's CEO in 2001

President Obama's Campaign Website "KEEPING GOP HONEST"
states;  "Romney was in charge of his corporate buyour firm --" (meaning [2001]))"

Romney can’t wash his hands of the decisions his firm made while he was CEO. Even while running the Salt Lake City Olympics, he still owned and profited from Bain Capital’s corporate buyouts, including GST Steel. Here are the facts:
Romney was head of Bain Capital when the firm took control of the Kansas City plant in 1993.

Romney “remained CEO and held his financial interest in the company through August 2001,” which includes the period “when the Kansas-based GST Steel plant was shut down and workers laid off” in February of 2001. [Source: Boston Globe]

Romney claims to have severed ties with his firm in 1999, but, as the Washington Post notes, he maintained full sole ownership until 2001.

Romney was listed on multiple Bain filings in 2001 and 2002, still functioning as a general partner in several of the firm’s funds.

Romney continues to get a share of the firm’s profit now, bringing the Romney family millions of dollars each year. As the New York Times notes, “when it came to his considerable personal wealth, Mr. Romney never really left Bain.”

Previous Diary Discussed the LIE of Romney Leaving Bain in 1999

         Of the many D's I've posted on Bain, Goldman Sachs etc., and their bad faith acts, this one ("Romney Camp Lying on Bain 1999 Exit: He was CEO of Bain in 2001") is most noteworthy. As time marches closer - to Mitt Romney's GOP convention almost certifiable nod to run against President Barack Obama - Romney's Bain issues and "facts" are apropos.

          From that Diary we have the fact that Mitt Romney was still CEO of Bain in 2001 corroborated by the following sources;

Kranish Book "The Real Romney" denotes Romney at Bain in 2001

Mitt Romney's 2007 Biography in the book the "Real Romney" by Michael Kranish - that stated;
Full Name: Willard Mitt Romney Party: Republican Political Office: Governor of Massachusetts, 2003-2007 Business/Professional Experience: Pres., Salt Lake Organizing Committee (for the 2002 Olympic Winter Games), 1999-2002;

CEO, venture capital/leveraged buyout firm Bain Capital, 1984-2001

Date of Birth: March 12, 1947 Place of Birth: Detroit, MI Education: B.A., Brigham Young University, 1971; J.D., Harvard University, 1975; M.B.A., Harvard University, 1975 Spouse: married Ann Davies, 1969 Children: son Taggart, born 1970; son Matthew, b. 1971; son Joshua, b. 1975; son Benjamin, b. 1978; son Craig, b. 1981 Religion: Mormon Home: Belmont, Ma

emphasis added

John McCains 200 page report on Romney in 2008 - States Bain 2001 p136

       It is noteworthy that Mitt Romney has never challenged the McCain report that he was CEO of Bain until August 2001. As is stated on page 136 of McCain's report;
Romney Served As CEO Of Bain Capital Through August 2001,
  Even Though He No Longer Ran Daily Operations.
emphasis added

New York Times story denotes Romney at Bain Capital in 2001

      Though this NY Times story "Retirement Deal Keeps Bain Money Flowing to Romney" repeatedly propogates the erroneous contention that Romney left Bain [Capital] in 1999. It then corrects itself later on, stating;
In 2001, Mr. Romney announced that he had formally
                                transferred his ownership of Bain Capital Inc. to other partners.
emphasis added

Biz Journal Corroborates Romney left Bain as CEO in August 2001

          Here, the Boston Biz Journals points out that Mitt Romney was giving up his "Sole" control of Bain Capital in August 2001. At that time  Mitt
Romney, 54, is giving up his 100 percent control of Bain Capital
                                                                      to 26 managing directors
      Now, it is extremely noteworthy that this is a 2001 article by the Boston Biz Journal denoting that Romney was [then] in 2001 - giving up his controlling interest in Bain [Capital] to a group of managing partners. You must be careful in shortening the discussion to the word "Bain" only. The 1st Bain entity is totally separate from Bain Capital and there are vast numbers of Bain derivative companies. Such as Bain Capital Partners - BCIP etc etc.

New Found Evidence of Romney's Control of Bain since 1999


        We know for a fact that Mitt Romney has benefited from federal fraud. You don't even need (the most likely by now Destroyed) emails, memos etc - from inside Mitt Romney's Bain or private emails. He's known this issue was coming for a LONG time. It is publicly documented that Mitt has made a retirement deal with Bain. Whether or not he was CEO at Bain in 2000/ 2001 or it is thru his deals of residual income; the fact of the matter is - If Bain did wrong - Romney has benefited.

        Be that as it may, Mitt Romney has become a coward of sorts lately. Telling reporters that he will NOT be asked questions. Main Stream Media is arguing that Romney Bain issues are a "personal character" assault. This, despite the fact that it was Mitten's himself, who has claimed his "successful" business accomplishments are what we need to benefit the country.

    So why this B.S. that any questions about Bain successes are verboten?


SEC Filing Shows Mitt Romney Manager at Bain in 2001

       Evidence corroborative and irrefutable that Mitt Romney was actively involved in Bain issues in 2001. This SEC filing is from 2001 and is a "DDi" Corp issue. As you can see - it states that in 2001 - Mitt Romney is signing;


As member of the Management Committee of each of
                              and BCIP Trust, W. Mitt Romney

NY Times Cites Disclosure Romney Owned % of Bain Deal in 2001

        In the New York Times story "After Romney Deal -- Company -- Profits -- Layoffs" - it again (as the NY Times is quoted above as doing) contradicts itself by stating;
A few months before the payout, in February 1999, Mr. Romney retired from Bain Capital to oversee the Olympic Games in Salt Lake City. He nevertheless benefited from the transaction, a financial disclosure form indicates. It shows that until at least 2001, he owned 16.5 percent of the Bain Capital partnership responsible for the Dade investment.
emphasis added

Atlantic Wire Denotes 2002 story of Romney at Bain in 2001

          Research of archived stories are the best source. Because in 1999, 2000 and 2001 - Mitt Romney and Bain had no concerns about getting "caught" in bad faith issues. The ones germane were not beginning to be discovered until 2004. Though the Atlantic Wire's story is entitled "Three Elections Worth of Bain Attacks on Romney" - appears tobe an effort to defend Mitten's. It actually helps with this denote;
What Was Unique: O'Brien's campaign didn't start attacking Romney for his Bain career until October, according to news reports, a few weeks later than Kennedy. She wasn't able to use the newly-laid off workers to speak about events that were by then eight years old. Talking Points Memo's Benjy Sarlin writes that Romney's "slick tactic… simultaneously distanced Romney, Bain’s CEO until 2001, from the firings while accusing Gabrieli of having closer connections to the layoffs himself." Plus, he was able to accuse Democrats of "exploiting" workers.

Why Mitt Romney Seeks to Hide Bain Culpabilty in 2000 & Beyond

       Now that there are many articles out there and notes of Mitt Romney and his campaign office telling the main stream media what they will and will Not do; a buzz has begun. As one journalist stated correctly -- "don't we get to decide what questions we'll ask"? When you tell true investigative journalists that "You Can't Do This - or Ask That" - they smell blood in the water and dig deeper.


       For years, we have been warning about Mitt Romney, Bain & Goldman Sachs. But no one cares what happened to Laser Haas and the eToys shareholders. Or any other person or company harmed by Bain & Mitt Romney. That is Until NOW!

Talking Points Memo Denotes Some Reasons Why Romney is Dodging Bain 2001

         In the article "How Romney Used The Same 'Rubber/ Glue' Strategy in 2002" Talking Points Memo ("TPM") denotes the apropos of something historical - with this remark;
“Mitt Romney continues to take no responsibility for his actions and the profits he made at Ampad, Damon (Corp.) and other companies,” Gabrieli said. “I had nothing to do with any of those companies, ever … Mitt Romney will say anything to get elected.”

It was a slick tactic that simultaneously distanced Romney, Bain’s CEO until 2001, from the firings while accusing Gabrieli of having closer connections to the layoffs himself. In an additional ju-jitsu move, Romney accused Democrats and labor unions of “exploiting” workers by highlighting their criticisms of Bain Capital’s management.

emphasis added

        That, is it in a nutshell. Bain is Mitt Romney's achilles heel - the kryponite Politicalp; which can not only end Mitten's politico career - it may even end up with indictments of Bain & Goldman SAchs. For Goldman Sachs is often partners with Bain in profiteering at the expense of others. Mitt Romney and his camp not only want - they NEED everyone to stay away from him & Bain issues after 1999.

                                         And I know several reasons why!

CONCLUSION - Dems Prepare to Hammer Mitt Romney/ Bain Issues

        As denoted by another Talking Points Memo article in early 2012; Democrats are thankful that the Bain issues were opened up. If the Repub's don't want it discussed, it must be researched and talked about massively. Mitt Romney has Bain Exposure Syndrome - Fantastic! Per the story "Dems Prepare To Hammer Romney With The REAL Bain Onslaught"  - there are many remarks of how Democrats can't wait to go after the Bain issue.

                                              Neither can I.

          It is absolutely stupid that the GOP has banked on Mitt Romney - for his Bain closet will be the "bane" of the Republican failed chance to beat an incumbent. I am getting my heart felt desire of my enemies getting top billing and therefore - everyone's eyes upon their open wounds of Bain bad faith acts. It is going to be a repeat - in the opposite way - of the whole GOP attacks upon Kerry. Where the DEM's have the benefit of the Inflexible Sword of Truth behind this one. As TPM stipulates;

-- it’s worth noting that the Gingrich and Perry war on Bain is a far cry from what the actual general election attacks will look like. The current fight is being waged almost entirely via public statements from two resource-strapped politicians, neither of whom has a particularly impressive supply of surrogates willing to amplify their message. And while Democrats have fanned the flames from the sidelines somewhat with press events and web videos, they’ve yet to spend a single dollar on anti-Bain TV ads themselves.

That won’t be the case as the calendar ticks towards November. Once Democrats decide its time to make their ultimate Bain push, they’ll have the resources to flood the zone with TV spots, direct mail (likely referencing Bain layoffs in targeted swing states), and a small army of Democratic lawmakers and operatives reinforcing the story 24/7 on cable news. Think 2004, when the entire GOP apparatus (including, awkwardly, Mitt Romney) worked in unison to drive home the John Kerry “flip flopper” meme.

      I give you this final pieces of the Diary. A video denote from this mornings television show "Meet the Press" and Jim Cramer's actual warning on the Bain issues. The Mad Money guru had said this on Meet the Press;
“Romney is known as a job destoryer, not a creator,” Cramer said. “I just don’t think that this will stick, I think Bain sticks. I think the idea that you bring in Bain, which is what happened, in the 80′s. They fire people and that’s how they get prosperity for the rich.”

Visit for breaking news, world news, and news about the economy




Romney Attacked Ted Kennedy and Asked "What Do You Have to Hide


          Talk about being apropos. Mitt Romney barked at Ted Kennedy in 1994, when Mitten's ran against him for the Senator's seat - "What do you have to Hide". Mitt Romney also had the unmitigated gall to ask Ted Kennedy about the Kennedy's "Blind Family Trust". (yeah - I know - I couldn't believe it either).

           What ARe You Trying to Hide Mitt Romney - of Bain in 2000/ 2001?

Originally posted to Mitt Romney Bain Chronicles on Sun May 20, 2012 at 04:52 PM PDT.

Also republished by Occupying with Laser and The Bain Files.


How much of an issue is Bain for a Romney Campaign?

0%0 votes
0%0 votes
0%0 votes
5%4 votes
8%6 votes
17%12 votes
8%6 votes
44%31 votes
4%3 votes
1%1 votes
10%7 votes

| 70 votes | Vote | Results

Your Email has been sent.
You must add at least one tag to this diary before publishing it.

Add keywords that describe this diary. Separate multiple keywords with commas.
Tagging tips - Search For Tags - Browse For Tags


More Tagging tips:

A tag is a way to search for this diary. If someone is searching for "Barack Obama," is this a diary they'd be trying to find?

Use a person's full name, without any title. Senator Obama may become President Obama, and Michelle Obama might run for office.

If your diary covers an election or elected official, use election tags, which are generally the state abbreviation followed by the office. CA-01 is the first district House seat. CA-Sen covers both senate races. NY-GOV covers the New York governor's race.

Tags do not compound: that is, "education reform" is a completely different tag from "education". A tag like "reform" alone is probably not meaningful.

Consider if one or more of these tags fits your diary: Civil Rights, Community, Congress, Culture, Economy, Education, Elections, Energy, Environment, Health Care, International, Labor, Law, Media, Meta, National Security, Science, Transportation, or White House. If your diary is specific to a state, consider adding the state (California, Texas, etc). Keep in mind, though, that there are many wonderful and important diaries that don't fit in any of these tags. Don't worry if yours doesn't.

You can add a private note to this diary when hotlisting it:
Are you sure you want to remove this diary from your hotlist?
Are you sure you want to remove your recommendation? You can only recommend a diary once, so you will not be able to re-recommend it afterwards.
Rescue this diary, and add a note:
Are you sure you want to remove this diary from Rescue?
Choose where to republish this diary. The diary will be added to the queue for that group. Publish it from the queue to make it appear.

You must be a member of a group to use this feature.

Add a quick update to your diary without changing the diary itself:
Are you sure you want to remove this diary?
(The diary will be removed from the site and returned to your drafts for further editing.)
(The diary will be removed.)
Are you sure you want to save these changes to the published diary?

Comment Preferences

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site