Sorry for the quick hit diary, but I did not see this posted yet.
Today The Boston Globe delivers the next installment in The Bain Chronicles. The focus is on how Romney retained legal control to use as leverage to extract a favorable severance package down the road:
“The elephant in the room was not whether Mitt was involved in investment decisions but Mitt’s retention of control of the firm and therefore his ability to extract a huge economic benefit by delaying his giving up of that control,” said one former associate, who, like some other Romney associates, spoke only on condition of anonymity because they were not authorized to speak for the company.
The most notable quote comes on the third page (bold added):
While Romney continued negotiating the terms of the severance deal, he referred to himself as CEO. In July 1999, five months after he had left for Utah, he provided a quote for a press release issued by Rehnert and Wolpow, who had left Bain to start their own firm, Audax. He was referred to as “Bain Capital CEO W. Mitt Romney, currently on a part-time leave of absence.” (The Daily Kos website first reported on the press release.)
First time I have seen that last sentence in
The Globe!