Romney's net worth, anyone?

[Bill McBlueState]

I'm trying to find Mitt Romney's net worth, to suggest that he's out of touch with state workers, for whom he's created every obstacle possible to getting raises. Does anyone know of an online reference for that sort of information?

[TaleWgnDg]

1. Hhhhmmmmm . . . Mitt made his billions in private equity . . .

.

Romney was a "managing general partner" of Bain Venture Capital as well as Romney was (is?) involved in many other similar business associations, e.g., chairman of Bain Company Inc., Bain Capital Inc., Bain Capital LLC, BCIP Associates, BCIP Associates II, and BCIP Trust Associates, and others.

"Private-equity firms raise money from endowments, pension funds, and wealthy individuals. They use that money, plus money that they borrow, to buy companies. The goal is to make the acquired businesses more profitable. That happens by replacing managers, cutting costs, expanding into new markets, or buying more companies in the same field. Eventually the private-equity firms sell the business or take it public."
http://www.boston.com/news/local/articles/2005/05/02/private_equity_firms_soaring_in_boston?pg=full

In other words, Mittens was in charge of private investment businesses that bought and sold companies. He's the guy who folks like to bash re buying, "down-sizing," then selling companies to make a buck. Sound familiar?

"The point is, ladies and gentlemen: Greed, for lack of a better word, is good. Greed works, greed is right. Greed clarifies, cuts through, and captures the essence of the evolutionary spirit. Greed in all its forms, greed for life, money, love, knowledge has marked the upward surge in mankind — and greed, you mark my words — will save not only Teldar Paper but that other malfunctioning corporation called the USA." (quoting actor Michael Douglas' character Gordon Gekko in the movie, Wall Street, 1987)

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edited to clean up an hyperlink
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[MADem]

2. Third link will tell you how to get ahold of his SFI

http://www.boston.com/news/local/massachusetts/articles/2005/09/16/romney_says_cost_of_office_rental_in_hancock_tower_is_58350/

Well, if you read the link above, you know he quid pro quos with his cronies...

''It is critical that the public know whether Romney is receiving an inappropriate financial break on his rent," said Philip W. Johnston, chairman of the Massachusetts Democratic Party. ''The entire arrangement looks quite inappropriate. I hope the governor rethinks his deal with Manulife."

The Globe reported yesterday that Romney signed a sublease agreement with Manulife on Sept. 1 for the office, where aides say he will conduct personal family and political business. The rent for an office in one of Boston's premier buildings normally runs over $50 a square foot, real estate specialists say. The office suite offers a spectacular view of the region.

Fehrnstrom said the governor has a one-year lease, but that he is a tenant ''at will" and could be asked to leave at any point because the landlord is actively marketing the space.

On Wednesday, Fehrnstrom rejected a Globe request for the lease details, including the price, but he noted that the at-will agreement, which has a 30-day termination clause, is not what the average tenant demands. It also restricts the governor from making modifications to the space. Some real estate specialists said the office space could cost more than $75,000 a year, if it were the usual market rate. Romney is using personal funds to pay for the rent.

http://www.02133.org/issue.cfm?ID=72&CategoryID=12 He refused to release income tax, but filed a financial disclosure form.

On May 28, Romney released his state financial disclosure records. A month earlier, Romney had refused to release his income tax returns. Romney also announced that if elected, he would place his investments in a blind trust in order to avoid conflicts of interest. The blind trust announcement was interesting because Romney criticized US Senator Edward Kennedy over just such a trust in their 1994 contest. At the time, Romney called blind trusts, "an age-old ruse."

http://www.eth.state.ma.us/SFIHome/Includes/Navigation/Help.asp#Access
Here is the website that tells you how to access his SFI--statement of financial interest. Ya gotta write for it, though.

Chapter 268B provides that any SFI filed with the Commission shall be available upon the written request of any individual for public inspection and copying. Requests may be honored only if accompanied by proof of a requesting individual's identity. The Commission must exempt from public disclosure those portions of an SFI which contain the home address, home telephone number, email address and the name of the spouse and the name(s) of dependent child(ren) residing in the filer's household. The law requires the Commission to forward a copy of such request to the individual whose SFI has been examined.