Huffpost Politics

Obama Campaign Memo Questions Romney's Time At Bain Capital

Posted: Updated:

If Mitt Romney was hoping to deflect attention from Bain Capital this week, it's apparent the Obama campaign is in no way ready to ease its focus from when exactly Romney left his role at the private equity firm. After a Romney adviser said on Sunday that the presumptive Republican nominee "retired retroactively" from Bain Capital, the president's reelection team released a memo on Monday morning highlighting critical questions that remain unanswered.

1. Are you contending that an individual can simultaneously be the CEO, president, managing director of a company, and its sole stockholder and somehow be “disassociated” from the company or accurately classified as someone not having “any” formal involvement with a company?

2. You have stated that in “Feb. 1999 I left Bain capital and all management responsibility” and “I had no ongoing activity or involvement.” It depends on what the definition of “involvement” is, doesn’t it? Clearly you were involved with Bain to the extent that you owned it. Are you defining “involvement” in a uniquely specific way that only means “full-time, active, 60-hours-a-week, hands-on manager?”

3. You earned at least $100,000 as an executive from Bain in 2001 and 2002, separate from investment earnings according to filings with State of Massachusetts. Can you give an example of anyone else you personally know getting a six figure income, not dividend or investment return, but actual income, from a company they had nothing to do with?

4. What did you do for this $100,000 salary you earned from Bain in both 2000 and 2001?

5. In 2002, you are listed as one of two managing members of Bain Capital Investors LLC in its annual report. What does this mean?

6. If, in fact, you did not veto any major investment decision during your 1999 though 2002 ownership, doesn’t that imply your broad consent of management’s decisions?

7. According to the Boston Globe, “Romney also testified that ‘there were a number of social trips and business trips that brought [him] back to Massachusetts, board meetings’ while he was running the Olympics. He added that he remained on the boards of several companies, including the Lifelike Co., in which Bain Capital held a stake until 2001.” You testified that while running the Olympics you took a number of business trips to Massachusetts and for board meetings for companies including Lifelike Co. Bain had a stake in this company until 2001. Are you contending that you could attend board meetings for Lifelike Co at the same time Bain Capital had a stake in Lifelike Co and at the same time you owned the stock of Bain Capital, but that somehow your attending a board meeting for a company partially owned by Bain had nothing to do with Bain because you were on the board as Mitt Romney the individual, not as the representative of Bain?

8. When asked “did you attend board meetings for Bain after 1999″ you responded by saying “I did not manage Bain after 1999,” or that you didn’t attend any meetings involving things like firing people. This seems to suggest the possibility that you did attend Bain meetings in 2000 and 2001 that did not involve hiring or firing people or where you made the final decisions on investments. Is that possible?

Romney's campaign has maintained that the former Massachusetts governor relinquished his role at Bain Capital in 1999, but evidence continues to surface that Romney may have remained active at the firm as far as 2002.

Also on HuffPost:

Barack Obama's Greatest Hits
of
Share
Tweet
Advertisement
Share this
close
Current Slide

Suggest a correction

Around the Web

Sparring over Bain details continues

Romney's current Bain woes were planted two months ago

Romney's Bain Yielded Private Gains, Socialized Losses

Bain Wrestles Romney's Shadow as $6 Billion Effort Kicks

Romney assails Obama ad's targeting Bain

Obama, Romney advisers spar over Bain departure

Fight Over Romney's Bain Tenure Thunders On

 
  Obama Romney
Obama Romney
332 206
Obama leading
Obama won
Romney leading
Romney won
Popular Vote
33 out of 100 seats are up for election. 51 are needed for a majority.
Democrat leading
Democrat won
Holdover
Republican leading
Republican won
Democrats* Republicans
Current Senate 53 47
Seats gained or lost +2 -2
New Total 55 45
* Includes two independent senators expected to caucus with the Democrats: Angus King (Maine) and Sen. Bernie Sanders (Vt.).
All 435 seats are up for election. 218 are needed for a majority.
Democrat leading
Democrat won
Republican leading
Republican won
Democrats Republicans
Seats won 201 234
Click for Full Results
Register To Vote