Manchester: So it wasn't just us.
Bain & Company has responded to all those mischievous headlines around the world raking over US Republican candidate Mitt Romney's past with a useful set of FAQs and answers, to clear up "election year confusion".
We are happy to relay them in full:
"Most people in the industry recognize that Bain & Company and Bain Capital are separate companies. However, in light of the heightened media attention we have received in this US election year, and in response to frequently asked questions, here are a few facts about Bain & Company:
- Bain & Company and Bain Capital are separate companies, with no shared ownership or governance.
- Bain & Company is not a private equity firm. We are a global business consulting firm, serving clients across six continents in multiple industries, including the private equity industry. We are the world's leading advisor to the private equity industry and its stakeholders.
- One of our alumni, Mitt Romney, is running for the Republican nomination for President of the United States. We are very proud to see our alumni fulfill their aspirations and contribute to global business and government affairs.
- Mr. Romney worked at Bain & Company from 1977 to 1985, leaving the firm in 1985 as a vice president to help found Bain Capital.
- Mr. Romney rejoined Bain & Company in the early 1990's to play a key role in our turnaround, leading the successful effort to restructure our debt and reorganize Bain into a full partnership that has fueled 20 years of phenomenal growth. He left Bain & Company in 1992 to return to Bain Capital."
Hope that helps.
PS — Romney survived "Super Tuesday", squeaking home in Ohio, and Bain's man looks as if he will get a crack at President Obama after all.