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Millions missing from Bain & Company ESOP

Im simply confused by what seems like some intensely obfuscating reporting on the part of Bain and PriceWaterhouseCoopers.

By Dan Cole | Updated on July 18, 2012

I tend not to involve myself in politics. I’m much more comfortable in the world of data, where everything is determined by incontrovertible ones and zeroes instead of who happens to be better at arguing. That said, I thought I’d try to be a little topical today.

In 1999, right around the time Mitt Romney was leaving to go run the Olympics, Bain & Company decided to terminate their ESOP (and I’m not saying one has anything to do with the other—Romney was much more involved with Bain Capital than Bain & Company). This is not unusual. Lots of companies have ESOPs, and lots of companies terminate them. Also not unusual is the fact that Bain wanted to roll some of the money in the ESOP into another plan—in this case, Bain’s 401(k).

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