Watch"Reporters at The Huffington Post, among other outlets, have challenged the campaign's claims, while revealing Romney's continued ties to Bain through 2002, including signed SEC documents confirming his position as Bain's sole owner and chief executive and sworn testimony that he continued sitting on Bain-affiliated boards of companies for years after the Olympics."
another CEO who went on leave of absence... Steve Jobs... which left Tim Cook then COO 'retro active' acting as CEO.. which is what a COO typically does..
In 2003, Jobs was diagnosed with a pancreas neuroendocrine tumor. Though it was initially treated, he reported a hormone imbalance, underwent a liver transplant in 2009, and appeared progressively thinner as his health declined. On medical leave for most of 2011, Jobs resigned as Apple CEO in August that year and was elected Chairman of the Board. He died of respiratory arrest related to his metastatic tumor on October 5, 2011.
Leave of absence started in Jan 17 2011... and his resignation was in August of 2011..
so who signed as CEO the SEC 10Q for Mar 2011 and Jun 2011 when Jobs was on leave of absense ? Steve Jobs of course...
http://www.sec.gov/Archives/edgar/data/320193/000119312511192493/0001193125-11-192493-index.htm
http://www.sec.gov/Archives/edgar/data/320193/000119312511192493/dex311.htm
http://www.sec.gov/Archives/edgar/data/320193/000119312511104388/0001193125-11-104388-index.htm
http://www.sec.gov/Archives/edgar/data/320193/000119312511104388/dex321.htm
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Very very poor journalism!
Gillespie on Romney’s Bain tenure: “He was still CEO and had shares. But he wasn't responsible for management.”
VIDEO: http://on.msnbc.com/Lqdujo
ED GILLESPIE: The fact is, he took a leave of absence from Bain to run the Olympics in Salt Lake City. ... And he was not responsible for day to day decisions, did not participate in day to day decisions or the management of the company at that time. He was on leave. So as-- former S.E.C. Chairman Harvey Pitt was quoted in a story about this, it is standard, though, while you're on leave, to sign those documents for the S.E.C.. He was still CEO and had shares. But he wasn't responsible for management. And that's the bottom line. … He actually retired retroactively at that point, David, because he ended up not going back to the firm after his time in Salt Lake City. So he was actually retired from Bain.
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Dislike (1) - politics nothing more and ignoring facts.
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Its all about SEC REGULATIONS! nothing more or less. The person named as CEO is the same person who signs the SEC documents... no matter if paid or not.. has stock ownership or not.. on leave or not....THAT is the SEC regulations.. anything else is illegal, since a different CEO was NOT named by the Board of Directors.
Therefore the story with Jobs and Romney is the same... Both named CEOs, both signed SEC filings, both on leave!
You want good governance, but dont understand what that means.
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thomaswong.1986 says
So what? Did you have a point?
Did Apple buy up profitable corporations, rape them, burn them to the ground, and leave them in bankruptcy?
No? Then why do you think they are the same?
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Was Romney on leave? He was drawing a six figure salary! Good work if you can get it...
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bdrasin says
It doesn't matter if he was on leave or not. Romney's style of rape capitalism doesn't necessitate hands on management and deals can be handled with a couple of phone calls.
"There's no way he possibly could have said on the phone 'outsource that customer service center to India' while he was on leave! It would have required whole minutes of his time!"
The Republican talking point that Romney wasn't involved with the company even when he drew a salary and signed all the financial statements and owned the damn thing is childish and stupid. Does any rational adult actually believe this? Even if you do believe this, do you think Bain capital radically altered how it did business once Romney was busy elsewhere, or did they simply follow Romney's template and do exactly what he wanted done?
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iwog says
that would be the decision of the individual management in each company, not the VCs. sorry.. you will have to blame someone else for that.
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iwog says
and yet accurate, facts above speak for themself. as was the case with Apple, the COO carried on the day to day operations. But i dont expect someone of your vast experience ( none in the corp world) to understand this... So was the same with Bain, Mitt handed over the Day to Day ops to his COO and other officers.
Heck, your being a hypocrite, since anyone of your partners in your legal firm can do the same... take leave - time off and travel while still not running the operations or being involved.. and still be associated as principle in the firm.
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thomaswong.1986 says
Do you realize you're citing "Romney didn't even make a phone call to dictate corporate policy" as a fact???? Do you have any fucking clue how stupid this assertion is?
No wonder you're so confused. You ACTUALLY believe that blind ignorant pure conjecture is fact.
Or maybe you just believe anything a Republican says and disbelieve anything a Democrat says? You're right, facts do speak for themselves.
Fact: Romney owned, signed for, and took legal ownership of Bain Capital.
Not a fact: Pretty much everything you pretend is true.