FORTUNE: Docs prove Romney didn't manage Bain funds
July 12th, 2012
03:14 PM ET
10 years ago

FORTUNE: Docs prove Romney didn't manage Bain funds

(FORTUNE) - Mitt Romney did not manage Bain Capital's investments after leaving to run the Salt Lake City Olympic Games, according to confidential firm documents obtained by Fortune.

The timing of Romney's departure from Bain became a lightning rod earlier today, when The Boston Globe published an article suggesting that Romney remained actively involved with the firm longer than he and his campaign have claimed. The sourcing is largely SEC documents that list Romney as Bain Capital's CEO and sole shareholder through 2002 - or three years after Romney officially left to run the Salt Lake City Olympic Games.


Filed under: 2012 • Bain Capital • Mitt Romney
soundoff (41 Responses)
  1. demwit

    No worries.., fact is not going to get in the way of the Obama media. Surprised to even see it here...

    July 12, 2012 03:55 pm at 3:55 pm |
  2. Thomas

    @scott, interesting, you do have a source for this information correct?

    July 12, 2012 03:56 pm at 3:56 pm |
  3. Sniffit

    "Dems will still perpetuate the lie... and the gullible will believe them."

    Where's the lie? By definition and by every law surrounding corporations and organizational structure, if you are President, CEO and owner, you are in control, have fiduciary duties to the shareholders and corporation and are ultimately responsible for all activities in which the coropration engages. Period. In fact, given the existence and nature of those fiduciary duties, saying "I didn't know anything and I didn't have anything to do with the decisions being made" is complete BS.

    July 12, 2012 04:01 pm at 4:01 pm |
  4. Name JR

    Let's see. Buggy whip factory in 1895 saw sales declining. Shareholders (owners) cut wages and jobs. A big bad group with money says let's try making motor cars but we'll need to restrucvture your business plan. Then Pres gives money to old owners to build new improved buggy whip maker and a few bucks to keep laborers around to make them.

    July 12, 2012 04:01 pm at 4:01 pm |
  5. Sniffit

    "You liberals are so desperate you will believe anything you are told. He has been investigated by the FBI, SEC, has found not to have done anything illegal. "

    Again, nobody is accusing him of doing anything illegal. It was only pointed out that he would be committing a crime to lie on those forms in order to show that what those forms contains was more than likely the truth....that he was President, CEO and an owner of the company and therefore technically in control over the corporation during 1999-2002.

    July 12, 2012 04:04 pm at 4:04 pm |
  6. Myviewis

    Obama is not lying, he just doesn't have the academics to understand how a corporation works, he couldn't understand the paperwork he was reading because he has no experience in management, running an office, running a business, no experience reading something like a Profit & Loss Report, this more than proves that Obama is a rockie with no academics in economics, principles of finance, managerial accounting, statistics, public finance, human resourse management, strategic management, accounting, macroeconomics, economics of business, business management, tax issues and other academic studies that would have prepared him for this job of president. Obama just proved it. Romney didn't lie. Google it or go to Wikipedia, most of the chain of events is listed there.

    July 12, 2012 04:04 pm at 4:04 pm |
  7. Sniffit

    Fortune? hahahahaha...and who would be their choice for POTUS? The "disproof" shows two things: (1) Mittens wasn't LISTED as a manager and (2) the author at Fortune believes what he's told without critical thought as to what it means in terms of powers, authorities, obligations, rights and duties when someone holds the position of President and CEO of a corporation.

    July 12, 2012 04:07 pm at 4:07 pm |
  8. B

    A look at Romney's tax returns will clear this matter up in no time.

    July 12, 2012 04:10 pm at 4:10 pm |
  9. Jen

    Scott, do you believe Obama's birth certificate is authentic?
    Just as the GOP went after Obama for this birth certificate, even after people had researched and found out it he was bone in the US, I think the liberals are also having fun with Romney’s finances.
    the liberals are as pathetic as the GOP
    What goes around comes around.

    July 12, 2012 04:16 pm at 4:16 pm |
  10. Dixie Normous

    Entertaining watching the left slinging everything but the kitchen sink at romney hoping something sticks. romney must be teflon coated since it all slides off.

    July 12, 2012 04:24 pm at 4:24 pm |
  11. OC CA Voter

    Anyone can pay a magazine to a exclusive on themselves if you have enough money. Mitt is not presidential material. Mitt "couldn't be confirmed as an dog catcher.

    July 12, 2012 04:35 pm at 4:35 pm |
  12. 333maxwell

    I certainly wont say Governor Romney is not telling the truth until I get all the facts..

    That said, if it IS the truth, he is doing a darn rotten job of articulating it.

    July 12, 2012 04:46 pm at 4:46 pm |
  13. Diane Waltman

    I hope CNN as well as other news media will fairly get the message out about Mitt Romney being truthful. I know the media has a hard time being unbiased when it doesnt help Obama. They are more than willing to spread all the false charges the Obama campaign wants to float. Its disgusting. The news media should be ashamed of themselves.

    July 12, 2012 04:52 pm at 4:52 pm |
  14. Sniffit

    "I hope CNN as well as other news media will fairly get the message out about Mitt Romney being truthful"

    Indeed. He told the truth on those SEC forms when he labeled himself as President and CEO and therefore had all the powers and duties that went with those positions, including control over the companies.

    July 12, 2012 05:00 pm at 5:00 pm |
  15. Sniffit

    "A look at Romney's tax returns will clear this matter up in no time."

    And that's why he won't release them.

    July 12, 2012 05:01 pm at 5:01 pm |
  16. Matt

    Romney has skeletons inn his closet, everyone does, but to make that kind of money,I am sure he's covered his backside well. like when he had computers cleaned after being Mass gov. But somebody, somewhere has the goods on him, but, money can buy silence, what would it be worth to you.

    July 12, 2012 05:01 pm at 5:01 pm |
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