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Inaccurate Globe Story

Inaccurate Globe Story

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Published by TIMEThePage

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Published by: TIMEThePage on Jul 12, 2012
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07/12/2012

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Inaccurate Globe Story
 Andrea Saul [ASaul@mittromney.com]
Sent:
Thursday, July 12, 2012 9:22 AM
To:
 Andrea Saul [ASaul@mittromney.com]
 
All#If&you&are&repor.ng&on&the&Globe’s&inaccurate&story&from&today,&please&use&the&below&response&from&me&aswell&as&the&back#up&documenta.on&&Please&also&note&that&this&story&hinges&on&a&Carter#appointed&lifelongDemocrat’s&asser.ons,&cast&as&unbiasedThanks,Andrea&&"The&ar.cle&is&not&accurate&&As&Bain&Capital&has&said,&as&Governor&Romney&has&said,&and&as&has&beenconfirmed&by&independent&fact&checkers&mul.ple&.mes,&Governor&Romney&leH&Bain&Capital&in&February&of 1999&to&run&the&Olympics&and&had&no&input&on&investments&or&management&of&companies&aHer&that&point" –Andrea&Saul,&Romney&Spokesperson&&
Mi#$Romney$Le,$Bain$Capital$In$1999:$“The$Massachuse#s=Based$Firm$Notes$That$Romney$Rered$More$Than$13$Years$Ago
”&
(Steve&Peoples,&“BainCapital&Defends&Record&In&Light&Of&Cri.cism,”&
 Associated*Press
,&5/16/12)
$FactCheck.org:$
And&aHer&reviewing&evidence&cited&by&the&Obama&campaign,&we&reaffirm&our&conclusion&thatRomney&leH&the&helm&of&Bain&Capital&when&he&took&a&leave&of&absence&in&1999&to&run&the&Salt&Lake&CityOrganizing&CommiZee&for&the&2002&Winter&Olympics&–&as&he&has&said&repeatedly&—&and&never&returned&toac.ve&management&The&Obama&campaign’s&recent&ads&thus&mislead&when&they&point&to&investments&made&byBain,&as&well&as&management&decisions&made&by&companies&in&which&Bain&invested,&aHer&that&.me
&
(BrooksJackson&and&Robert&Farley,&with&Eugene&Kiely,&“FactCheck&to&Obama&Camp:&Your&Complaint&is&All&Wet,”&FactCheckorg,&7/2/12)&
The$Washington$Post 
’s$The$Fact$Checker:$“He$Le,$The$Company$In$February$1999$To$Become$President$AndChief$Execuve$Of$The$Commi#ee$That$Organized$The$2002$Olympics$In$Salt$Lake$City.”$$
“The&Obamacampaign&pointed&us&to&a&series&of&SEC&filings&and&news&accounts&showing&that&three&companies&within&BainCapital’s&porolio&sent&jobs&overseas&Romney&served&as&chief&execu.ve&of&the&firm,&which&specialized&inprivate#equity&investment&and&leveraged&buyouts&during&his&tenure&there&e&leH&the&company&in&February1999&to&become&president&and&chief&execu.ve&of&the&commiZee&that&organized&the&2002&Olympics&in&Salt&LakeCity”
&
(Josh&icks,&“Does&MiZ&Romney&Love&Outsourcing?”&
The*Washington*Post 
,&5/4/12)
$
The$Washington$Post 
’s$The$Fact$Checker:
&“We&discovered&that&Romney’s&name&appeared&on&Bain&SEC&filingsbetween&1999&and&2002&But&a&2002&statement&the&former&execu.ve&filed&with&the&MassachuseZs&State&EthicsCommission&said&he&was&a&“passive,&limited&partner&[with]&no&management&capacity”&in&the&Bain&en..es&inwhich&he&held&ownership”
&
(Josh&icks,&“Does&MiZ&Romney&Love&Outsourcing?”&
The*Washington*Post 
,&5/4/12)
&
·
 
The$Washington$Post 
’s$The$Fact$Checker:
&“We&also&learned&that&the&creditors&who&sued&some&of&Bain’s
Inaccurate Globe Storyhttps://nycowa2.timeinc.com/owa/?ae=Item&t=IPM.Note&id...1 of 37/12/12 11:45 AM
 
companies&and&execu.ves&over&dividend&payments&around&the&.me&in&ques.on&did&not&name&Romney&intheir&lawsuit&Plain.ffs&generally&try&to&list&as&many&people&as&possible&as&defendants&to&encourageseZlement,&so&it’s&highly&unlikely&that&Romney&had&any&involvement&with&Bain’s&businesses&during&thisperiod”
&(Josh&icks,&“Does&MiZ&Romney&Love&Outsourcing?”&
The*Washington*Post 
,&5/4/12)
$
·
 
The$Washington$Post 
’s$The$Fact$Checker:
&
“Facts$Essenally$Exonerate$Romney$From$Allegaons$That$HeWas$Responsible$For$Any$Outsourcing$Bad$Deals$And$Layoffs$That$Occurred$With$Bain’s$Companies$InThe$Early$2000s.”
&“We’ve&gone&over&this&problem&with&the&Obama&campaign&before,&awarding&threePinocchios&to&a&January&memo&the&team&released&blaming&Romney&for&job&losses&and&bad&deals&that&tookplace&aHer&the&former&execu.ve&had&stopped&working&for&Bain&These&facts&essen.ally&exonerate&Romneyfrom&allega.ons&that&he&was&responsible&for&any&outsourcing,&bad&deals&and&layoffs&that&occurred&withBain’s&companies&in&the&early&2000s”&
(Josh&icks,&“Does&MiZ&Romney&Love&Outsourcing?”&
The*Washington*Post 
,&5/4/12)
$Turning$Around$The$Olympics$Fully$Occupied$Romney’s$Time$Romney$Worked$16=Hour$Days$Seven$Days$A$Week$To$Turn$Around$The$Olympics
&&“Sixty&days&ago,&MiZRomney&was&preparing&to&take&.me&off&work&#&one&week&a&month&#&so&he&could&travel&with&his&wife&while&herhealth&would&s.ll&allow&it&Now,&he&can't&even&get&free&for&their&30th&anniversary&celebra.on,&and&the&trip&toawaii&for&her&50th&birthday&has&been&canceled&&‘I&have&a&lot&to&learn,&and&a&lot&to&catch&up&on&So&I&am&goingfull#bore,’&says&Romney,&who&has&been&working&16#hour&days,&seven&days&a&week&‘It&is&a&more&intenseexperience&than&I&had&an.cipated’&is&wife,&Ann,&is&more&blunt:&‘It's&like&he&walked&into&an&empty&elevatorshaH’&In&his&first&two&months&as&president&of&the&Salt&Lake&Organizing&CommiZee,&Romney&has&found&thelearning&curve&to&be&steeper&and&the&financial&hole&deeper&than&he&ever&expected”&
(Linda&Fan.n,&“Romney'sWorking&16#our&Days&To&Rescue&2002&Winter&Olympics,”&The&Associated&Press,&4/5/99)&
Running$The$Olympics$Compares$To$“Arranging$17$Super$Bowls$A$Day$For$17$Days.”$$
"As&early&as&1999,&afinancial&crisis&was&looming:&The&Games&were&mired&in&a&bribery&scandal&and&were&running&a&$379&milliondeficit&Romney&was&asked&to&step&in,&and&he&immediately&slashed&budgets&and&boosted&sponsorships&Andsince&the&Games&were&held&just&months&aHer&Sept&11,&2001,&he&oversaw&a&huge&security&apparatus&e&nowsays&it&was&one&of&the&most&difficult&things&he'd&ever&done,&comparing&it&to&'arranging&17&Super&Bowls&a&day&for17&days'&The&Games&ended&up&with&a&$100&million&profit"&&
(Marcia&Vickers,&"The&Republicans'&Mr&Fix#It,"&
FortuneMagazine
,&6/27/07)
&
When$Romney$Le,$Bain$In$February$1999$He$Relinquished$All$Operaonal$Control$Romney$Played$No$Role$In$The$Day=To=Day$Operaons$Of$Bain$Capital$A,er$February$1999.
&&“Romney,&whoheld&100%&of&the&vo.ng&stock,&said&he&transferred&it&to&the&26&managing&directors&who&have&run&the&firmday#to#day&since&he&took&over&the&then#troubled&Salt&Lake&City&Games&on&Feb&11,&1999&e&will&con.nue&tohold&investments&in&the&firm”&
(Karen&Allen,&“Romney&Charts&Career&Path&Beyond&Salt&Lake,”&
USA*Today 
,&8/21/01)
&
A,er$February$1999$Bain’s$26$Managing$Directors$Ran$The$Company.$$“
Romney&served&as&Bain&Capital'smanaging&partner&and&chief&execu.ve&officer&from&its&incep.on&in&1984&through&February&1999,&when&heaccepted&the&SLOC&posi.on&During&his&leave&of&absence&the&firm's&26&managing&directors&have&run&thecompany”&
(PaZy&enetz,&“Romney&Mulls&Another&Run&For&Public&Office&AHer&Games,”&8/20/01)
&
Contemporaneous$News$Account$Menoned$Romney$“Had$Nothing$To$Do”$With$Bain$Investments$WhileRunning$The$Olympics.
&&“Earlier&this&year,&untsman&Corp&announced&a&deal&in&which&Bain&invested&more
Inaccurate Globe Storyhttps://nycowa2.timeinc.com/owa/?ae=Item&t=IPM.Note&id...2 of 37/12/12 11:45 AM

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