Mitt Romney, Bain Capital | featured news

The official spoke on the condition of anonymity because of the sensitivity of the probe. It is examining whether the firms used a tax strategy to avoid paying hundreds of millions of dollars in taxes. The practice involved converting some fees collected for managing accounts into fund investments, resulting in a lower tax rate.

Contec Holdings Ltd., the cable-box repair company owned by Bain Capital Partners, filed for Chapter 11 bankruptcy protection Wednesday with a plan in hand to restructure some $360 million in debt.

...The federal records, obtained under the Freedom of Information Act, reveal that Romney's initial rescue attempt at Bain & Company was actually a disaster – leaving the firm so financially strapped that it had "no value as a going concern." Even worse, the federal bailout ultimately engineered by Romney screwed the FDIC – the bank insurance system backed by taxpayers – out of at least $10 million. And in an added insult, Romney rewarded top executives at Bain with hefty bonuses at the very moment that he was demanding his handout from the feds.

According to Rolling Stone contributing editor Matt Taibbi, Mitt Romney made his fortune exploiting two strategies that the Republican presidential candidate now decries: creating massive amounts of debt and milking federal government handouts... "The entire purpose of the business model that Romney helped pioneer is to move money into the archipelago from the places outside it, using massive amounts of taxpayer-subsidized debt to enrich a handful of billionaires. It's a vision of society that's crazy, vicious and almost unbelievably selfish, yet it's running for president, and it has a chance of winning."

Mitt Romney is shedding some light on lessons learned while he headed the private-equity firm Bain Capital, a key part of his presidential campaign narrative. In an op-ed column published in today's Wall Street Journal, the presumptive GOP presidential nominee discusses how his 15 years at the firm he co-founded laid the foundation for his work at the 2002 Winter Olympics in Salt Lake City and then as governor of Massachusetts.

The website Gawker published online hundreds of pages of documents from investments made after Mitt Romney's tenure at Bain Capital on Thursday. Romney's work at the firm, as well as statements he's made on the issue, have come under scrutiny over the course of the presidential campaign.

Actually, it’s not the economy. At least not this week. A presidential campaign that Republicans wanted to be focused relentlessly on President Obama’s job-creation record seems to be about almost everything else at the moment. In part that’s the result of a monthslong effort by the Obama campaign to shift attention to Mitt Romney’s wealth and business record.

The rusty stains on Shirley Carter's home are a permanent reminder of her fight with the local steel mill, just down U.S. Highway 17 near the boat docks. No matter how many cans of industrial-strength acid she went through, the red tint on her property never seemed to go away....

The main super PAC helping President Obama is out with an emotional ad today slamming Mitt Romney's business record, featuring an ex-steelworker talking about his wife's death after the couple lost their health insurance.

Restore Our Future, the super PAC backing Mitt Romney, released a new radio ad Friday knocking President Barack Obama for his handling of the economy and calling into question the Obama campaign's repeated attacks on Romney and Bain Capital. The new spot, titled "Imagine," is part of a $1 million radio ad campaign and will air from July 27 to Aug. 2 across swing states Colorado, Florida, Iowa, Nevada, New Hampshire, North Carolina, Ohio, Pennsylvania and Virginia.