The Boston Globe reports this morning that Mitt Romney left his position as CEO and chairman of Bain Capital three years earlier than he has stated in federal disclosure forms. Here’s the key point:
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.” […]
The Globe found nine SEC filings submitted by four different business entities after February 1999 that describe Romney as Bain Capital’s boss; some show him with managerial control over five Bain Capital entities that were formed in January 2002, according to records in Delaware, where they were incorporated.
The Romney campaign has already fired back at the story. Spokeswoman Andrea Saul said the Globe’s report was “not accurate.”
“As Bain Capital has said, as Governor Romney has said, and as has been confirmed by independent fact checkers multiple times, Governor Romney left Bain Capital in February of 1999 to run the Olympics and had no input on investments or management of companies after that point,” Saul said.
It sounds as though this issue could come down to the definition of “left” and whether he was still legally involved with the company after he went to go run the Olympics.
Why the report matters is that it feeds into some of the Obama campaign’s attacks on Bain Capital’s investments gone wrong. The Romney campaign has previously stated that Romney is not responsible for companies that went bankrupt or workers that have been laid off after he left the company in 1999.
The Globe story comes at a time when the Obama campaign and Democrats are hammering Romney for various issues related to his wealth — his time at Bain, his offshore bank accounts and a set of “blind trusts.”
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