NEWSMAX:… Although some documents place the Republican presidential hopeful in charge of Bain from 1999 to 2001, a period in which the company outsourced jobs and ran companies that fell into bankruptcy, it is not related to who was running Bain at the time, the Times reported.
Romney has tried to distance himself from this period in Bain’s history, saying on financial disclosure forms he had no active role in Bain as of February 1999.
“It’s a disconnect between the ownership interest and managerial functions,” Harvey Pitt, who served as S.E.C. chairman under President George W. Bush, told the Times. “When Bain takes positions in public companies, they’re required to show anyone who has an ownership interest that could be the effective equivalent of control. So Romney has to be shown on those filings… (more)
EDITOR: As a businessman, we find it hard accept that someone can be the sole owner, president and chief executive officer and not have any say in investments and operations. Why would anyone accept that responsibility, let alone desire that responsibility, if he or she didn’t want to keep control so that they could intervene if displeased or to alter directions?
