-Caveat Lector-

*Romney's Iran ties revealed*
< http://www.total411.info/2007/02/romneys-iran-ties-revealed.html >

[http://www.abcnews.go.com/Politics/print?id=2899860]
From *Associated Press* Feb
23<http://www.abcnews.go.com/Politics/print?id=2899860>:


"Republican Mitt Romney is urging state pension systems to divest from Iran,
yet the presidential contender's former employer and the company he started
have links to recent Iranian business interests or deals.

Romney joined Boston-based Bain & Co., a management consulting firm, in 1978
and worked there until 1984. He was CEO of Bain Capital, a venture capital
firm, from 1984 to 1999, despite a two-year return as Bain & Co.'s chief
executive officer from 1991 to 1992.

Bain & Co. Italy, described in company literature as "the Italian branch of
Bain & Co.," received a $2.3 million contract from the National Iranian Oil
Co., in September 2004. Its task was to develop a master plan so NIOC the
state oil company of Iran could become one of the world's top oil companies,
according to Iranian and U.S. news accounts of the deal.

Bain Capital, the venture capital firm that Romney started and made him a
multimillionaire, teamed up with the Haier Group, a Chinese appliance maker
that has a factory in Iran, in an unsuccessful 2005 buyout effort.
[...]
Bain & Co. spokeswoman Cheryl Krauss also said her company did not profit
directly from the National Iranian Oil Co. deal, although it receives a
licensing fee from Bain & Co. Italy based on the amount of that entity's
profits.

[...] Romney cites his work with Bain & Co. and his development of Bain
Capital as he casts himself as an outsider in the 2008 race.

He offered both companies a firewall when asked Friday about the
appropriateness of their dealings given his harsh rhetoric about Iran, as
well as his calls for states to cease investment links with Iran.

"This is something for now-forward," Romney said after touring GT Solar
Inc., a solar energy manufacturer in this early primary state where he
talked about the importance of the U.S. weaning itself from oil produced by
its enemies.

"I wouldn't begin to say that people who, in the past, have been doing
business with Iran, are subject to the same scrutiny as that which is going
on from a prospective basis," Romney added.

He said the importance of future divestment was underscored by an
International Atomic Energy Agency report released Thursday. It said Iran
has ignored a U.N. Security Council ultimatum to freeze uranium enrichment a
possible pathway to nuclear arms and has instead expanded its program by
setting up hundreds of centrifuges.

Yet Iran, described by President Bush as part of the "axis of evil," is
hardly a fresh threat on the U.S. foreign policy radar.

During the past two months, Romney has challenged Massachusetts and other
New England states to pull their pension funds from companies doing business
in Iran.

[...]
-----



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