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What does retroactive retirement mean?
Posted: Jul 16, 2012
he was retired before he wasn’t? According to conservative biweekly Forbes magazine (self described as “The Capitalist Tool”), Romney senior advisor’s gigantic gaffe left beaucoups of questions unanswered....35 to be exact.
1. Are you contending that an individual can simultaneously be the CEO, president, managing director of a company, and its sole stockholder and somehow be “disassociated” from the company or accurately classified as someone not having “any” formal involvement with a company?
2. You have stated that in “Feb. 1999 I left Bain capital and all management responsibility” and “I had no ongoing activity or involvement.” It depends on what the definition of “involvement” is, doesn’t it? Clearly you were involved with Bain to the extent that you owned it. Are you defining “involvement” in a uniquely specific way that only means “full-time, active, 60-hours-a-week, hands-on manager?”
3. How exactly are you defining “involvement?”
4. Surely someone from Bain occasionally called you up and asked your opinion about something work-related from 1999 to 2002. Wouldn’t that qualify as “involvement,” if only on a minor level?
5. You earned at least $100,000 as an executive from Bain in 2001 and 2002, separate from investment earnings according to filings with State of Massachusetts. Can you give an example of anyone else you personally know getting a six figure income, not dividend or investment return, but actual income, from a company they had nothing to do with?
6. What did you do for this $100,000 salary you earned from Bain in both 2000 and 2001?
7. If you did nothing to earn this salary, did the Bain managers violate their fiduciary duty by paying you a salary for no discernible reason?
8. Are there other companies that pay you six figures a year as earned income, not investment income, for which you have no involvement?
The remaining 27 questions are here:
;
Doesn't matter - He's not Obama
[ In Reply To ..]and that's all that matters to some people. He could be a serial arsonist and it wouldn't matter.
True. It could be the devil himself running against Obama and that is - who some people would vote for. Why? nm
[ In Reply To ..].
Anybody but Obama - that's why.
[ In Reply To ..]!
From what I understand... - Zville MT
[ In Reply To ..]he took a leave of absence, which every company has a different policy for - apparently Bain allowed him to still collect a paycheck even when he wasn't there.
I worked for a home building company where the owner of the company took a leave of absence to care for his wife. He was gone from the company for several years and was still listed as owner/COO and recieved a paycheck even though he never had anything to do with the every day business of the company. So, it does happen.
Romney admits he attended board meetings during - sm
[ In Reply To ..]that time and actually testified to his continued involvement in Bain when he was trying to prove he was qualified to run for governor of Mass. You cannot have it both ways. If you attended board meetings, voted, signed legal documents, and gave input to the direction of the companies, you were not retired, semi-retired at most.
So which was it: LOA or retirement? - (see message)
[ In Reply To ..]In my book, a leave of absence is a whole different situation than being retired from a company. To me, retirement implies that you are done, gone, no longer working for the company. So, if that's the case here, I have the same question (in slightly different words) as one in the OP's list of questions: Why was he receiving money from a company for which he was no longer working?
Doesn't make any sense to me that a well-run investment firm would be paying out a lot of money to someone who was contributing nothing to the company. That's not a very good investment!
I don't know which, - Zville MT
[ In Reply To ..]just relaying what I heard. It's not really an issue that I'm paying close attention to.
Republican Presidential Qualification List - #1 Be able to rewrite history - nm
[ In Reply To ..]
You're kidding - Right?
[ In Reply To ..]You've got your parties mixed up.
it sounds marginally more fun than - retroactive employment!
[ In Reply To ..]This is how I am going to refer to my current unemployed state.
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