Inaccurate Globe Story

https://nycowa2.timeinc.com/owa/?ae=Item&t=IPM.Note&id...

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&Globes&inaccurate&story&from&today,&please&use&the&below&response&from&me&as well&as&the&back#up&documenta.on.&&Please&also&note&that&this&story&hinges&on&a&Carter#appointed&lifelong Democrats&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&been conrmed&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$Romney$ReBred$More$Than$13$Years$Ago.&(Steve&Peoples,&Bain
Capital&Defends&Record&In&Light&Of&Cri.cism,&Associated*Press,&5/16/12)

$ FactCheck.org:$And&aHer&reviewing&evidence&cited&by&the&Obama&campaign,&we&rearm&our&conclusion&that Romney&leH&the&helm&of&Bain&Capital&when&he&took&a&leave&of&absence&in&1999&to&run&the&Salt&Lake&City Organizing&CommiZee&for&the&2002&Winter&Olympics&&as&he&has&said&repeatedly&&and&never&returned&to ac.ve&management.&The&Obama&campaigns&recent&ads&thus&mislead&when&they&point&to&investments&made&by Bain,&as&well&as&management&decisions&made&by&companies&in&which&Bain&invested,&aHer&that&.me.&(Brooks

Jackson&and&Robert&Farley,&with&Eugene&Kiely,&FactCheck&to&Obama&Camp:&Your&Complaint&is&All&Wet,&FactCheck.org,&7/2/12) &

The$Washington$Posts$The$Fact$Checker:$He$Le,$The$Company$In$February$1999$To$Become$President$And Chief$ExecuBve$Of$The$Commi#ee$That$Organized$The$2002$Olympics$In$Salt$Lake$City.$$The&Obama campaign&pointed&us&to&a&series&of&SEC&lings&and&news&accounts&showing&that&three&companies&within&Bain Capitals&pordolio&sent&jobs&overseas.&Romney&served&as&chief&execu.ve&of&the&rm,&which&specialized&in private#equity&investment&and&leveraged&buyouts&during&his&tenure&there.&He&leH&the&company&in&February 1999&to&become&president&and&chief&execu.ve&of&the&commiZee&that&organized&the&2002&Olympics&in&Salt&Lake City.&(Josh&Hicks,&Does&MiZ&Romney&Love&Outsourcing?&The*Washington*Post,&5/4/12)

$
The$Washington$Posts$The$Fact$Checker:&We&discovered&that&Romneys&name&appeared&on&Bain&SEC&lings between&1999&and&2002.&But&a&2002&statement&the&former&execu.ve&led&with&the&MassachuseZs&State&Ethics Commission&said&he&was&a&passive,&limited&partner&[with]&no&management&capacity&in&the&Bain&en..es&in which&he&held&ownership.&(Josh&Hicks,&Does&MiZ&Romney&Love&Outsourcing?&The*Washington*Post,&5/4/12)

&

The$Washington$Posts$The$Fact$Checker:&We&also&learned&that&the&creditors&who&sued&some&of&Bains

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Inaccurate Globe Story

https://nycowa2.timeinc.com/owa/?ae=Item&t=IPM.Note&id...

companies&and&execu.ves&over&dividend&payments&around&the&.me&in&ques.on&did&not&name&Romney&in their&lawsuit.&Plain.s&generally&try&to&list&as&many&people&as&possible&as&defendants&to&encourage seZlement,&so&its&highly&unlikely&that&Romney&had&any&involvement&with&Bains&businesses&during&this period.&(Josh&Hicks,&Does&MiZ&Romney&Love&Outsourcing?&The*Washington*Post,&5/4/12)

The$Washington$Posts$The$Fact$Checker:&Facts$EssenBally$Exonerate$Romney$From$AllegaBons$That$He Was$Responsible$For$Any$Outsourcing,$Bad$Deals$And$Layos$That$Occurred$With$Bains$Companies$In The$Early$2000s.&Weve&gone&over&this&problem&with&the&Obama&campaign&before,&awarding&three Pinocchios&to&a&January&memo&the&team&released&blaming&Romney&for&job&losses&and&bad&deals&that&took place&aHer&the&former&execu.ve&had&stopped&working&for&Bain.&These&facts&essen.ally&exonerate&Romney from&allega.ons&that&he&was&responsible&for&any&outsourcing,&bad&deals&and&layos&that&occurred&with Bains&companies&in&the&early&2000s.&(Josh&Hicks,&Does&MiZ&Romney&Love&Outsourcing?&The*Washington*Post,&5/4/12)

$ Turning$Around$The$Olympics$Fully$Occupied$Romneys$Time $ Romney$Worked$16=Hour$Days,$Seven$Days$A$Week$To$Turn$Around$The$Olympics.&&Sixty&days&ago,&MiZ Romney&was&preparing&to&take&.me&o&work&#&one&week&a&month&#&so&he&could&travel&with&his&wife&while&her health&would&s.ll&allow&it.&Now,&he&can't&even&get&free&for&their&30th&anniversary&celebra.on,&and&the&trip&to Hawaii&for&her&50th&birthday&has&been&canceled.&&I&have&a&lot&to&learn,&and&a&lot&to&catch&up&on.&So&I&am&going full#bore,&says&Romney,&who&has&been&working&16#hour&days,&seven&days&a&week.&It&is&a&more&intense experience&than&I&had&an.cipated.&His&wife,&Ann,&is&more&blunt:&It's&like&he&walked&into&an&empty&elevator shaH.&In&his&rst&two&months&as&president&of&the&Salt&Lake&Organizing&CommiZee,&Romney&has&found&the learning&curve&to&be&steeper&and&the&nancial&hole&deeper&than&he&ever&expected.&(Linda&Fan.n,&Romney's

Working&16#Hour&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,&a nancial&crisis&was&looming:&The&Games&were&mired&in&a&bribery&scandal&and&were&running&a&$379&million decit.&Romney&was&asked&to&step&in,&and&he&immediately&slashed&budgets&and&boosted&sponsorships.&And since&the&Games&were&held&just&months&aHer&Sept.&11,&2001,&he&oversaw&a&huge&security&apparatus.&He&now says&it&was&one&of&the&most&dicult&things&he'd&ever&done,&comparing&it&to&'arranging&17&Super&Bowls&a&day&for 17&days.'&The&Games&ended&up&with&a&$100&million&prot."&&(Marcia&Vickers,&"The&Republicans'&Mr.&Fix#It,"&Fortune

Magazine,&6/27/07)

& When$Romney$Le,$Bain$In$February$1999,$He$Relinquished$All$OperaBonal$Control $ Romney$Played$No$Role$In$The$Day=To=Day$OperaBons$Of$Bain$Capital$A,er$February$1999.&&Romney,&who held&100%&of&the&vo.ng&stock,&said&he&transferred&it&to&the&26&managing&directors&who&have&run&the&rm day#to#day&since&he&took&over&the&then#troubled&Salt&Lake&City&Games&on&Feb.&11,&1999.&He&will&con.nue&to hold&investments&in&the&rm.&(Karen&Allen,&Romney&Charts&Career&Path&Beyond&Salt&Lake,&USA*Today,&8/21/01) & A,er$February$1999,$Bains$26$Managing$Directors$Ran$The$Company.$$Romney&served&as&Bain&Capital's managing&partner&and&chief&execu.ve&ocer&from&its&incep.on&in&1984&through&February&1999,&when&he accepted&the&SLOC&posi.on.&During&his&leave&of&absence&the&rm's&26&managing&directors&have&run&the company.&(PaZy&Henetz,&Romney&Mulls&Another&Run&For&Public&Oce&AHer&Games,&8/20/01) & Contemporaneous$News$Account$MenBoned$Romney$Had$Nothing$To$Do$With$Bain$Investments$While Running$The$Olympics.&&Earlier&this&year,&Huntsman&Corp.&announced&a&deal&in&which&Bain&invested&more
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than&$600&million&in&the&Salt&Lake&City#based&chemical&company.&Under&terms&of&the&deal,&Bain&gained&a minority&equity&stake&in&Huntsman&Corp.,&which&assured&the&deal&had&nothing&to&do&with&Romney.&(Lisa&Riley
Roche&and&Bob&Bernick&Jr.,&Public&Service&For&Romney,&Deseret*News*[Salt*Lake*City],&8/20/01)

&

Romney$Played$No$Role$In$Bain$Investments$While$Running$The$Olympics.&&MiZ&Romney, formerly&Bain's&top&partner&and&currently&head&of&the&Salt&Lake&Organizing&CommiZee&for&the&Olympic Winter&Games&of&2002,&played&no&role&in&bringing&Bain&and&Huntsman&together,&[Don&Olsen,&a Huntsman&senior&vice&president]&said.&(David&Carey,&Huntsman&Gets&$600m&From&Bain,&Daily&Deal,&2/23/01)

Between$1999$And$2002,$Romney$Was$A$Passive$Limited$Partner$With$No$Management$Capacity.$$We discovered&that&Romneys&name&appeared&on&Bain&SEC&lings&between&1999&and&2002.&But&a&2002&statement the&former&execu.ve&led&with&the&MassachuseZs&State&Ethics&Commission&said&he&was&a&passive,&limited partner&[with]&no&management&capacity&in&the&Bain&en..es&in&which&he&held&ownership.&(Josh&Hicks,&Does&MiZ

Romney&Love&Outsourcing?&The&Washington&Post,&5/4/12)

&
The$ArBcle$Cites$Roberta$S.$Karmel$Who$Is$A$Self=Described$Lifelong$Democrat$Who$Was$Appointed$By President$Carter: $ Karmel$Describes$Herself$As$A$Lifelong$Democrat$[Roberta&S.&Karmel]&describes&herself&as&a&lifelong democrat,&and&in&a&recent&interview&in&her&New&York&law&oce&defended&her&apparent&pro#business&posi.ons on&SEC&issues.&(Robert&E.&Dallos,&Ex#Ocial&Cri.cizes&SEC&Focus&On&Corporate&Morality,&Los*Angeles*Times,&3/28/82) & Karmel$Was$Appointed$To$A$Commissionership$With$The$SEC$By$President$Carter.$Roberta&Karmel,&also&a Democrat&and&an&appointee&of&former&President&Carter,&was&the&rst&woman&commissioner&[of&the&SEC], serving&from&September&1977&to&February&1980.&(Sally&Jacobsen,&Curbing&Insider&Trading&Interests&Woman&On&SEC,&The
Associated*Press,&5/6/82)

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