Massachusetts Commission’s finding:  Romney left Bain in '99
July 13th, 2012
02:27 AM ET
2 years ago

Massachusetts Commission’s finding: Romney left Bain in '99

(CNN) – In 2002, before Mitt Romney was elected governor of Massachusetts, political opponents in the state were out to knock him off the ballot. So they challenged his eligibility to be a gubernatorial candidate based on state residency requirements.

The bipartisan panel that handled the case, the State Ballot Law Commission, ruled in Romney’s favor. But buried deep in the 40-page document detailing its decision, the commission found the following:

“The Respondent remained actively employed at Bain Capital until January 1, 1999, at which time he left to take the position of President and Chief Executive Officer of the Salt Lake Organizing Committee for the 2002 Winter Olympic Games.”

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A campaign official for the GOP contender released the commission’s ruling to CNN in response to questions about recently revealed federal and state documents that list Romney as the CEO and President of Bain Capital as late as 2002, three years after the Republican presidential candidate said he left the company.

An official with the campaign, did not dispute that Romney’s name appears on Bain’s filings at the Securities and Exchange Commission in 2001. He said it “just wasn’t the case” that Romney was involved in any managerial decisions at the firm.

“The reason he was on the filings is that he was technically with the firm,” the official told CNN.

In a conference call with reporters Thursday, a top Obama campaign official accused Romney of “misrepresenting” his business record to either the SEC or to voters.

The official pointed to the ballot commission’s ruling that noted Romney rented an apartment in Utah and “worked, on average, over 12 hours per day, 6 days per week” after joining the Salt Lake City Olympics organizing committee in 1999.

The ballot commission document is likely to prompt more questions about Romney’s ties to Bain after his move to Salt Lake City. As part of its ruling in favor of Romney’s residency eligibility, the panel noted Romney testified to the commission he traveled to Massachusetts where he sat on the board of one notable Bain-related company, the office supply chain, Staples.

Romney “testified that he was a director of Staples, Marriott International and Life Like,” the commission’s finding states.

The GOP contender has often touted his involvement in establishing Staples as part of his work at Bain.


Filed under: 2012 • Massachusetts • Mitt Romney
soundoff (41 Responses)
  1. Doremus Jessup

    "As part of its ruling in favor of Romney’s residency eligibility, the panel noted Romney testified to the commission he traveled to Massachusetts where he sat on the board of one notable Bain-related company, the office supply chain, Staples"

    The headline is a little misleading. What did he do at those board meetings? Anything?

    July 13, 2012 02:35 am at 2:35 am |
  2. Sam

    This is just getting plain ugly. Can't wait until December when it's all over....

    July 13, 2012 02:49 am at 2:49 am |
  3. MaryM

    just wait till the 1998 stuff comes out. Release your tax returns Mitt. You gave how many years to McCain and you still was not chosen for VP in 2008.

    July 13, 2012 03:20 am at 3:20 am |
  4. J.V.Hodgson

    Hi you all on was he working or was he not working.
    Well omitted here is he was paid a salary while he was per SEC filings CEO and Managing Director. Any cotporate lawyer will tell you that carries legal responsibilities viz a viz Bain business, it is no excuse to say I was in Utah doing something else, and since he was paid salary not an exgratia payment.
    Awe shucks we just didnt get around to changing the filing... give me and everyone a break.
    Awe shucks he was in UTAH working 12 hours a day 6 days a week on the Olympics. I doubt that very much and thier will be no proof. But never mind that, we have telephones, Computers, E-mail He was up to his eyes in Bain until 2001 probably 2002... you only have too lok at how many people said he was a hands on final decider, and it did not happen in Bain without him at final deal making time.
    The Staples board did not mmet on the seventh day or the Sunday so the 6 out of 7 for 2 years is nonsense
    He had a vote on everything till he stopped being paid salary and like it or not was legally involved in every decision.
    Even in absentia.
    I have never heard such BS repeated so easily by the CNN reporters
    This one is a bad day for you guys and also for AC 360 and Gergen whose views I normally respect.
    Regards,
    Hodgson.

    July 13, 2012 03:25 am at 3:25 am |
  5. Joseph Agunbiade

    Where are your multiple years of tax refunds. The tax refund will answer the whole saga.

    July 13, 2012 03:37 am at 3:37 am |
  6. s

    Poor Mittens finally got caught up in one of your lies!! better stick to your story the first time

    July 13, 2012 03:40 am at 3:40 am |
  7. Namejkane fl SEND THE THREE TIME LOSER romney HOME AND MAKE IT FOUR.

    Did you ever hear of a telephone or e mail ????????

    July 13, 2012 05:58 am at 5:58 am |
  8. Gurgyl

    This guy seemingly is a crook. He wants to loot this nation.

    July 13, 2012 06:16 am at 6:16 am |
  9. Marie MD

    This is NOT going to fly. “The reason he was on the filings is that he was technically with the firm,” Romney campaign spokesman Matt McDonald told CNN."
    When you leave a company they take away the keys, the badge, and everything that has to do with the compmany. If you come back for a visit you are escorted everywhere. The bishop didn't leave bain. He was milking money from another front. That seems to be his real life long desire. More money and the heck with anyone else.
    Another lie from the bishop's camp. Do these people realize that in the age of technology everything you do and say it's on record?

    July 13, 2012 06:22 am at 6:22 am |
  10. don

    So Romney lied to the SEC?

    July 13, 2012 06:23 am at 6:23 am |
  11. Wynter

    Rented an apartment in Utah? Are you kidding me? Romney owned a lavish 9,500 square-foot home at Deer Valley Resort during the 2002 Winter Olympics, which he sold in 2009 for more than $5 million. If that's his idea of an apartment I'd hate to see what a resort would look like to him.

    July 13, 2012 06:24 am at 6:24 am |
  12. Chris

    So basically what they are saying is that while Romney technically was still listed s president of Bain Capital in 2001, he was just a figurehead with no actual managerial involvement. Just like he was when he was governor of MA, he spent two-thirds of his time out of state, mostly campaigning for president while neglecting his duties as governor. And we can expect more of the same if he's elected president. Romney is someone who is drawn to the prestige of a position, but not it's responsibilities.

    “We are not auditioning for fearless leader. We don’t need a president to tell us in what direction to go. We know what direction to go. We want the Ryan budget. We just need a president to sign this stuff. We don’t need someone to think it up or design it.”
    -Grover Norquist (2012 CPAC)

    Grover explaining to CPAC members that an ideal Republican President is a drone “puppet” who will just sign anything they put in front of him.

    July 13, 2012 06:31 am at 6:31 am |
  13. cindy

    Let's see if I read this right. Romney did not work for Bain after 1999, yet went back to MA to sit on the board for Staples, which he takes credit for. However he then turns around and when confronted with other less fortunate companies he states he wasn't part of Bain. Good thing he can pick and choose. He was still on the companies roster as President when the take over of companies and bankrupting them was going on. To me that puts blame on him. No matter how you look at it.

    July 13, 2012 07:24 am at 7:24 am |
  14. 4merRepubCT

    Let me get this straight. If I leave my husband today, does that mean we're divorced, or will I still be "technically" married to him until the paper work is done?

    July 13, 2012 07:38 am at 7:38 am |
  15. Raymond Firehock

    When the Massachusetts Commission made its "finding", it evidently did not have available the SEC filings and other information the Boston Globe investigivative reporting team turned up. That he was designated as CEO, etc., of Bain after 1999 certainly gave him the authority to act in Bain Capital, and that he was working hard at the Olympics does not show whether - or not - he made or was consulted about any key decisions at Bain. In any case,his name keeps popping up in a variety of legal fllings. And when he decided to run for governor, his retirement was backdated, as though it had not been decided up to that point.

    July 13, 2012 07:41 am at 7:41 am |
  16. yolanda

    Extremely lame on the Democrats part. Find something of substance to attack, rather than petty stuff like this. Both parties need to grow up.

    July 13, 2012 07:46 am at 7:46 am |
  17. Donkey Party

    Ok, so he lied to the SEC, that's the felony in question. Romney needs to release his tax records back to 1999 if he wants to clear this up. I think it's also fair that we see his long form birth certificate as well.

    July 13, 2012 07:50 am at 7:50 am |
  18. Fair is Fair

    Soooooo... he wasn't at Bain when when the left blames him of all of the nasty stuff, eh? Well, who'd have thunk the rabid left would get it wrong?

    July 13, 2012 08:12 am at 8:12 am |
  19. Rudy NYC

    Romney worked for Bain past 1999. His SEC filings say it. His actions prove it.

    July 13, 2012 08:18 am at 8:18 am |
  20. Tony

    But he was still the CEO. A CEO is responsible for his subordinates' actions, even if he is not directly involved.

    July 13, 2012 08:19 am at 8:19 am |
  21. Loudmouth Elephant

    Don't worry... the concept of "proof" doesn't sit well with the left. You would think this would settle this issue. It won't. Heck, it could be proven that Romney never even worked at Bain and that he was dirt poor, but the Obama campaign would still run ads claiming he was a "outsourcing pioneer at Bain" and that he was "filthy rich" and out of touch.

    July 13, 2012 08:27 am at 8:27 am |
  22. Ancient Texan

    The Boston Globe's hit piece claiming Romney was still CEO three years later was pure fabrication and Obama knows it, but he is desperate.

    July 13, 2012 08:44 am at 8:44 am |
  23. T'sah From Virginia

    “The reason he was on the filings is that he was technically with the firm,” the official told CNN.

    So did he leave in '99 – And if so, then I ask WHY ...
    Would he still be there 'til 'O2 – Hard to "Etch-A-Sketch" this LIE!!

    Obama 2012 – The Only Trusted Way Forward!!

    July 13, 2012 08:51 am at 8:51 am |
  24. Governor 47th in Job Creation (excluding jobs off-shored to China)

    Willard like stalking about free stuff and how people should vote for the other guy. Well if Willard was not doing a damn thing at Bain but putting away 6 figures plus, sounds like he's a freeloader. Always getting rich at the expense of people that actually do work. That's Willard for you.
    Of course unless he wants to come clean and admit that he was always still running the show at Bain (like all those new ventures that his name appears on after he ahem retired from Bain. Which is it Willard?

    July 13, 2012 08:56 am at 8:56 am |
  25. enuff

    So now Romney was "technically" part of Bain, but not really? I would think it "technically" should be investigated by the SEC, not just take the word of a commission that just happened to throw in this "oh by the way" statement into their findings. Why is it that in the elections Romney aims for, he has some kind of controvery? Where there is smoke, there is fire.

    July 13, 2012 09:01 am at 9:01 am |
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