I have a question about Bain

[TexasWife25]

So the new issues arising with Bain seems to be that Mitt says he left the firm in '99, however his name remained on the books as late as 03'.

My question is, is that a reasonable length of time to have your name still attached to a place you have essentially quit? And if so, why would it take so long to officially cut ties?

Also, this is not a loaded question, I'm honestly curious, Ive read a lot about it, but I have no personal experience with the inner workings of large corporations.

 

[koalabear]

I honestly don't care.

 

[Wings]

They could have removed him as a full time employee and changed him to contractor or consultant status. It happens all the time.

And believe me, I'm not a Romney supporter.

 

[coachdb18]

So the new issues arising with Bain seems to be that Mitt says he left the firm in '99, however his name remained on the books as late as 03'.

My question is, is that a reasonable length of time to have your name still attached to a place you have essentially quit? And if so, why would it take so long to officially cut ties?

Also, this is not a loaded question, I'm honestly curious, Ive read a lot about it, but I have no personal experience with the inner workings of large corporations.

It's not at all uncommon, for those in high positions, including both high dollar liberals and conservatives (ie applies equally as well to Soros as to Romney).

 

[Sean Renaud]

Maybe he was innactive. There are so many reasons why that might of happened that you may as well ask how high is the sky. I'm kind of in the lets take him at face value and assume he stopped when he claims to have stopped.

 

[TexasWife25]

Well according to the Boston Globe

"A July 12 report in the Boston Globe identified nine Securities and Exchange Commission filings that named Romney as the chief executive, among other positions, of Bain Capital three years after he said he left the firm to run the 2002 Salt Lake City Olympic Games. ...The Globe report said documents filed with the SEC through 2002 listed Romney as “sole stockholder, chairman of the board, chief executive officer and president.”

 

[JAMESBJOHNSON]

So the new issues arising with Bain seems to be that Mitt says he left the firm in '99, however his name remained on the books as late as 03'.

My question is, is that a reasonable length of time to have your name still attached to a place you have essentially quit? And if so, why would it take so long to officially cut ties?

Also, this is not a loaded question, I'm honestly curious, Ive read a lot about it, but I have no personal experience with the inner workings of large corporations.

He owned the company, so the rest doesnt matter unless you think he's a naif and clueless of what his managers did. I mean, would you trust 100s of millions of your money to hired help and not watch them closely? Mitt's a vulture, so accept it and move on.

 

[TexasWife25]

Maybe he was innactive. There are so many reasons why that might of happened that you may as well ask how high is the sky. I'm kind of in the lets take him at face value and assume he stopped when he claims to have stopped.

This is my feeling as well. It doesnt seem unreasonable to me for him to have his name on papers, but not have been personally involved.

 

[JAMESBJOHNSON]

They could have removed him as a full time employee and changed him to contractor or consultant status. It happens all the time.

And believe me, I'm not a Romney supporter.

He owns the company! THEY didnt do squat that he didnt OK.

 

[Sean Renaud]

I know personally from companies I work with that there are contacts on official papers who've been dead for years and nobody got around to changing such and such paperwork cus they don't use but so often and when they do use it very rarely does anybody call back, they just send the check back or whatever paperwork is required.

 

[koalabear]

He owns the company! THEY didnt do squat that he didnt OK.

Now ,now, you know Hillary cut her ties with WallyWorld too.

 

[JAMESBJOHNSON]

Now ,now, you know Hillary cut her ties with WallyWorld too.

Saint Hillary to YOU, Missy!

 

[Wings]

He owns the company! THEY didnt do squat that he didnt OK.

He has a board, or had a board, right? Of course "they" attempted to cover his ass.

 

[JAMESBJOHNSON]

He has a board, or had a board, right? Of course "they" attempted to cover his ass.

He owns the company, the board is decoration. Yuh gotta assume he doesnt trust them any further than he can throw them. Shit! Al Capone had a board.

 

[Very_Bad_Man]

So the new issues arising with Bain seems to be that Mitt says he left the firm in '99, however his name remained on the books as late as 03'.

My question is, is that a reasonable length of time to have your name still attached to a place you have essentially quit? And if so, why would it take so long to officially cut ties?

Also, this is not a loaded question, I'm honestly curious, Ive read a lot about it, but I have no personal experience with the inner workings of large corporations.

He "dropped out" as a controlling partner to avoid conflict of interest but remained a consultant to get paid. It is a dog and pony show to skirt legalities but it is legal.

George Bush did the same shit, so did Dickhead Cheney.

 

[Wings]

He owns the company, the board is decoration. Yuh gotta assume he doesnt trust them any further than he can throw them. Shit! Al Capone had a board.

And look at what happened to him.

 

[JAMESBJOHNSON]

And look at what happened to him.

What? He went to jail for tax evasion?

 

[JAMESBJOHNSON]

He "dropped out" as a controlling partner to avoid conflict of interest but remained a consultant to get paid. It is a dog and pony show to skirt legalities but it is legal.

George Bush did the same shit, so did Dickhead Cheney.

The reason you peel taters in a raghead restaurant is cuz you dont think like a gangsta.

 

[Wings]

What? He went to jail for tax evasion?

I meant the neurosyphilis.

 

[busybody..]

here is a BETTER question


NIGGER has multiple ads of Bain laying off workers at a steel plant Bain bought

and

Blames Romney


YET

the one in charge at Bain at the time

IS A $$$ BUNDLER FOR NIGGER

 

[busybody..]

He "dropped out" as a controlling partner to avoid conflict of interest but remained a consultant to get paid. It is a dog and pony show to skirt legalities but it is legal.

George Bush did the same shit, so did Dickhead Cheney.

congrats

you have SCHMUCKED yourself


a few more and you will graduate to


NIGGER

 

[about_average]

I don't know of any consultants who're listed as CEO of the corporation.

It's BS. When he was running for Gov of MA people tried to get him disqualified because he'd been in Utah running the Olympics for too long.
Romney and his lawyers argued in court that he was in fact back in MA frequently for work and board meetings and thus qualified to run for Gov.
Good thing the court agreed and he won, otherwise we wouldn't have the ACA.

Do we really want as president a person who is CEO of a company, but checks out for 3 years?
Exactly which good business practice would that be called?

 

[JustSkye]

I don't know of any consultants who're listed as CEO of the corporation.

It's BS. When he was running for Gov of MA people tried to get him disqualified because he'd been in Utah running the Olympics for too long.
Romney and his lawyers argued in court that he was in fact back in MA frequently for work and board meetings and thus qualified to run for Gov.
Good thing the court agreed and he won, otherwise we wouldn't have the ACA.

Do we really want as president a person who is CEO of a company, but checks out for 3 years?
Exactly which good business practice would that be called?

:thumbsup:

 

[TorontoBoyWest]

Well according to the Boston Globe

"A July 12 report in the Boston Globe identified nine Securities and Exchange Commission filings that named Romney as the chief executive, among other positions, of Bain Capital three years after he said he left the firm to run the 2002 Salt Lake City Olympic Games. ...The Globe report said documents filed with the SEC through 2002 listed Romney as “sole stockholder, chairman of the board, chief executive officer and president.”

Why a plausible reason other then " oh well hey herp derp it was just cause things like this happen" can't be brought forth is telling imo, and it's not gonna work in a Presidental Election. This isnt an election for the local PTA. The dogs are loose on this and they won't stop barking.

Either the SEC filings are wrong and here is why or they are right so explain it.

Same with the tax returns. There is a valid reason other then "that is private". If there is nothing there, don't be vehemently opposed to producing them. Produce them.

This seems to be a character issue. The RW here are incoming with attacks on Obama in response for sure. And "this all doesnt matter."

Its politics 101 imo. Put out the brush fire if it looks like it will burn the forest down.

This wont end well for Mitt. Bain and the tax returns are the gifts that keep on giving for Obama's campaign team.

 

[about_average]

The Globe report said documents filed with the SEC through 2002 listed Romney as “sole stockholder, chairman of the board, chief executive officer and president.”

I thought I'd heard he was on the BoD until 2002 and thought, "WTF!?" but then couldn't find more info on it and I was too lazy to google more.

I used to be on a BoD and it was constantly drilled in to each of us that we had a fiduciary responsibility to perform due diligence in carrying out our governance duties.

If Romney was indeed even on the board, even more so if he was the chairman, then there are only two possibilities about what he's claiming:
1. He didn't perform his duties with due diligence in not having any idea about what they were doing
2. He's telling out right lies.

Again, especially if it's #1, which he claims, do we want someone like that as president, especially when he's running on the platform of "I'm a business man so I know how to run things."