bain

Mitt Romney Looted a Dying Company For Executive Bonuses While It Owed the Government Millions

John Cook · 08/30/12 11:30AM

Rolling Stone's Tim Dickinson has a devastating story gutting one of Mitt Romney's origin myths as a "Turnaround Guy." Romney has always taken credit for rescuing Bain & Co., the consulting firm where he got his start (as distinct from Bain Capital, the private equity operation he later co-founded) from the clutches of bankruptcy by dint of fearless resolve, hard work, and common sense. The truth: He raided its coffers for executive bonuses even as it owed millions to the federal government, and used the resulting lack of cash as leverage to screw over the company's creditors.

The Bain Files: The Documents

John Cook · 08/23/12 11:00AM

Gawker has obtained a large cache of confidential internal financial documents from more than 20 secretive hedge funds and other investment vehicles in which Mitt Romney has stashed his considerable wealth. All told, the partnerships and limited liability corporations detailed below accounted for, at minimum, $10,069,000 of Romney's assets in 2011 and yielded $913,300 in income, according to his 2012 financial disclosure (those figures are derived from adding up the low end of ranges Romney disclosed; the actual numbers could be astronomically higher).

Jordan Golson · 10/03/07 05:34PM

3Com's buyout by Bain Capital could get hung up in Congress because of Chinese telecom-equipment maker Huawei's involvement. The Committee on Foreign Investment in the United States could review the deal, examing the national-security implications of Huawei getting "shareholder voting rights, seats on the board or access to technology." [AP]