Mitt Romney Bain Capital Filings Link Him To Politically Problematic Companies After 1999
¬snip¬
The presumptive Republican nominee insists he never signed off on the business decisions related to outsourcing that turned the private equity firm into a political lightning rode. But neither he nor his campaign have said whether he agrees with those decisions, even if he was powerless over them when they were made. The Huffington Post asked top Romney adviser Kevin Madden this very question Monday morning during an appearance on MSNBC and received the following response:
Those decisions were made by folks that were running the company differently. So I don't have the details of what decision-making went into it. Oftentimes what happens with those type of decisions is that you have software companies, you have different types of companies that have to go out and have manufacturing needs, and when they go to look for companies that have manufacturing needs that they don't have, oftentimes those are manufacturing outposts around the globe. But the most important thing that we can answer is what we're going to do to create more jobs here in the country, and that's where Governor Romney has a much superior plan than President Obama.
¬snip¬
In April 1999 and March 2000, for example, SEC filings by the American Pad & Paper Company noted that Bain Venture Capital, an arm of the private equity firm, "may be deemed to be the beneficial owner" of entities that held millions of shares of company stock. Among the "general partners of BVC" listed in that filing was "W. Mitt Romney."
¬snip¬
A Huffington Post review of SEC files unearthed six separate occasions in which Romney was listed as a member of "the Management Committee" of both Bain Capital Investment Partners and BCIP Trust, "deemed to share voting and dispositive power with respect to" shares held of DDi. In one of those filings, Romney is listed as President and Managing Director of Bain Capital, Inc.
more: http://www.huffingtonpost.com/2012/07/16/mitt-romney-bain-capital_n_1677133.html?utm_hp_ref=elections-2012
