Was Romney at the helm of Bane after 1999?
WEBN-TV photo
By VICTORIA JONES
Talk Radio News Service
WASHINGTON – Is Mitt Romney’s repeated claim that he played no part in executive decision-making related to Bain Capital after 1999 false? Can you be chairman, CEO and president of a company and not be responsible for what it does?
The drip, drip, drip of information coming out about Romney’s involvement in Bain after 1999 (he also took a salary) is not only irritating the Romney campaign, but worrying Republican politicians and strategists who want Romney to counter punch, hard.
Why does it matter whether Romney was involved or responsible? The campaign claims he cannot be held responsible for bankruptcies and job losses in any companies Bain took over that happened after 1999 (they’re taking credit for job gains, however).
The new timeline, brought to the fore by the Boston Globe Thursday suggests Romney remained at the helm through 2002. As an example, KB Toys, a retail chain bought by Bain in 2001, lost up to 3,500 jobs; GS Industries, a steel company, closed its plant and eliminated 750 jobs in 2001; Dade International went bankrupt, costing more than 1,700 jobs – Bain received $242 million for its stake in the medical supply company.
Romney’s own testimony in June 2001 states that he admitted to sitting on the board of the Lifelike Co, a doll maker that was a Bain investment during the period. The hearing was to determine whether he had sufficient residency status in Massachusetts to run for governor.
Romney’s lawyer at the hearing said ”What happened to his private and public ties to the Commonwealth of Massachusetts? And the answer is they continued unabated just as they had.” And Romney testified that, “there were a number of social trips and business trips that brought me back to Massachusetts, board meetings, Thanksgiving and so forth.” He testified he remained on the boards of Staples and Marriott, as well as Life Like.
However, in the August 2011 federal disclosure form filed as part of his presidential bid, his campaign stated: “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.”
However, again, a Fortune report on Thursday afternoon said Romney did not manage Bain’s investments after he left in 1999.
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Posted by Gary
on Jul 13 2012. Filed under Breaking News, Politics, Top stories, US.
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gee do any politicians tell the truth who knows there all lying about each other
President Clinton was impeached for lying under oath. I understand that and as much as I love Clinton I was embarrassed for him. Mitt Romney signed a form “under penalty of perjury.” Mitt Romney is not only a flawed candidate but if you apply the same standards you applied to Clinton he should be a criminal in the eyes of the American people.
So does that make my comparison yesterday no longer “disingenuous” as Buck put it?
exactly, Gary
I don’t trust a guy who believes in magical underwear, and in a certain planet Kolob with some Joseph Smith as a man-turned-into-god kind of spiritual guide, and…well, the list is too long and quite confusing. Too weird to my liking!
One of the reasons a THOU SHALT NOT refers to false allegations is ibecause it is always connected to the victim, current and future, whether true or not “You shall not give false testimony against your neighbor.”
Unfortunately, while I normally would call this dirty politics (on the part of the Democrats) this accusation was brought up prior by a Ron Paul supporter who used the word FELONY.
So close to the election, if any COURT DATE is annouced prior to November, the accusation alone would assure a hands-down win for the Democratic party.
So we are to be upset with what Romney did with HIS money and turn a blind eye to what Obama does with OURS……….ok makes sense…NOT
We know that every president uses tax monies to put in to practice his agenda for the country (the people). We hope that this agenda will do the most good for the most people. The problem with a presidential candidate who “protects” his money overseas is that he is giving us notice that he is betting AGAINST the American people. THIS SHOULD NOT BE TOLERATED!