The Obama campaign's latest attack tells the story of workers at an Indiana office supply company who lost their jobs after a Bain-owned company named American Pad & Paper (Ampad) took over their company and drove it out of business.
Here's what the Obama Web video doesn't mention: A top Obama donor and fundraiser had a much more direct tie to the controversy and actually served on the board of directors at Richardson, Texas-based Ampad, which makes office paper products.
Jonathan Lavine is a long-time Bain Capital executive and co-owner of the Boston Celtics. He is also one of President Obama's most prolific fundraisers. He has already raised more than $200,000 for the Obama campaign this election, according to Federal Election Commission records.
Lavine started working for Bain in 1993. He was one of three Bain executives who served on the board of directors of Ampad for several years, a post he held until 1999. Here's a news release announcing his departure from the company in April 1999.
Lavine's placement on the board of Ampad suggests he had a more direct role than Romney in the series of events surrounding the layoffs, labor disputes and eventual bankruptcy of the Marion, Ind., factory featured in the Obama campaign video.
Asked about Mr. Lavine's role, Obama campaign spokesman Ben Labolt put the focus back on Romney.
"No one aside from Mitt Romney is running for president highlighting their tenure as a corporate buyout specialist as one of job creation," Labolt said. "The president has support from business leaders across industries who have seen him pull the economy back from the brink of another depression".
And, Labolt argued, Romney, as the CEO of Bain, would have been the one ultimately responsible for what happened with Ampad.
"He made profit at any cost for himself and his partners by outsourcing jobs and bankrupting companies," Labolt said. "From buyout to bankruptcy, Mitt Romney was CEO and sole owner of Bain. The managing director working on Ampad reported directly to him and has said Romney could have ordered him to settle with the union but didn't."
UPDATE: Alex Stanton, a spokesperson for Bain Capitol, does not dispute that Lavine was on the board of Ampad, but insists that he had nothing to do with the workers being laid off in Marion, Indiana.
"Jonathan Lavine was not at Bain Capital when Ampad was acquired by the firm, and was not involved on the investment during the challenging situation at the Marion plant. The assertion he had any involvement with those events is totally false," said Stanton in a statement.