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Monday, July 16, 2012

Romney Advisors: He 'Retired Retroactively' From Bain

Despite Mitt Romney being listed on SEC documents as the CEO, President and sole shareholder of Bain Capital through 2002, Ed Gillespie, a senior campaign advisor for Mitt Romney said Romney was Not Responsible For Bain after 1999 Because He ‘Retired Retroactively’ from the company.

FireDoglake Excerpt:
This is probably exactly how it went down. He took a leave of absence to run the Olympics, then started negotiating his pay package while the legal CEO until 2002, and when he finally finished up the Olympics and squeezed as much out of Bain as he could, he relinquished control. It was the leverage of owning the company that allowed him to maximize that pay package. And maybe it was better for tax purposes for him to push the retirement date back to 1999. Or maybe he didn’t want to be associated with certain layoffs and plant closures that happened in the 1999-2002 period.

All this is relentlessly political, and not even all that relevant. As former Bain Capital partner Ed Conard said yesterday, everything Bain was doing from 1999-2002 reflects everything they were doing before 1999 – gaming the tax system to make massive profits and push the losses onto the public sector.

Romney economic advisor calls outsourcing jobs "a good thing."

Think Progress Excerpt:
...Romney’s top economic adviser Greg Mankiw has also argued for outsourcing jobs, calling it “a good thing.” As another Bain manager explained, “I never thought of what I do for a living as job creation.” Romney’s role at Bain was to create wealth for his firm, not jobs.

A little bit of accidental honesty with a backwards way of saying that "jobs are for poor people."

Gillespie again - Mitt Romney doesn't seem to have much of a problem with U.S. Olympic uniforms made in China. "He believes we shouldn't politicize the Olympics," Gillespie said. Yeah, these nutjobs and their media rodeo clowns would never politicize the Olympics. Afterall, remember how they became a united front of non-political support for the President and Chicago’s bid to win the 2016 Olympic Games? Yeah, me neither.

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