Entries in Tagg Romney (3)


Tagg Romney for Senate? No Way, Sources Say

ABC / Ida Mae Astute(WASHINGTON) -- Ready for another Romney run?  Tagg Romney is not.

The Boston Herald reported on Monday that the eldest son of Mitt and Ann Romney is considering a run in the special Senate election in Massachusetts now that former Sen. Scott Brown decided against a run last week.

Two sources close to both Tagg and his father Mitt tell ABC News it’s not going to happen.  One consideration for Tagg may be that his father lost the Bay State in last year’s presidential election by 23 points.

“I think Tagg would be a great candidate,” a source close to both Romneys said.  “He grew tremendously in the campaign, but with his company it’s unlikely he can afford to walk away from it right now, sadly.”

Tagg, 42, started the venture capital firm Solamere Capital after his father’s last unsuccessful campaign in 2008.  In both campaigns, he advised his father and worked hard to get his dad to the White House.

A Republican strategist with knowledge of state party discussions also told ABC News he seriously doubted the likelihood of any Romney candidacy in the upcoming Senate election.

Brown may have stunned his party last week when he decided not to run, leaving them scrambling, but some of those same issues had to weigh on the younger Romney too.  Any candidate who runs in the special election will have to run again in 2014.  And to make the ballot, candidates must gather 10,000 certified signatures in just four weeks.

So who will run on the Republican ticket?  Another possible contender, former Gov. Bill Weld, also ruled out a run on Monday, sending out a statement that said while he was “grateful for the kind expressions of support and encouragement which I have received, I will not be a candidate for United States Senator from Massachusetts in the special election this year.”

Former state Sen. Richard Tisei also ruled out a run over the weekend.

The Democratic primary field includes U.S. Representatives Edward Markey and Stephen Lynch.  Two possible candidates for the Republicans are Mitt Romney’s former Lieutenant Gov. Kerry Healey and former Navy SEAL Gabriel Gomez.  Healey also served as a foreign policy adviser in Romney’s presidential campaign.

Copyright 2013 ABC News Radio


Mitt Romney’s Eldest Son Has Twins Via Surrogate

Mitt Romney and his family on the night of the Iowa Caucuses. Photo by Win McNamee/Getty Images(O’HARA, Pa.) -- Tagg Romney, the eldest son of presidential candidate Mitt Romney, announced via Twitter that he and his wife Jen have new twin boys, delivered by a surrogate Friday.

“Happy 2 announce birth of twin boys David Mitt and William Ryder. Big thanks to our surrogate. Life is a miracle,” Tagg tweeting, linking to a photo of himself and one of his new sons.

This the second time that Tagg, 42, and his wife, Jen,39,  have used a surrogate. The same surrogate was used for the twins carried their youngest son Jonathan, who was born in August of 2010. Their other three children were not born via surrogacy.

On Facebook, Tagg gave even more details about the birth, confirming that the twins are his biological children. “Jen and I are happy to announce the birth of twin boys, David Mitt and William Ryder,” he wrote. “Everyone is healthy and happy. They weighed in at 5 lbs 13 oz and 19-3/4 inches and 6 lbs. 13 oz and 19 inches. A special thanks to our gestational surrogate who made this possible for us. Life truly is a miracle, and we feel so blessed to be able to celebrate the arrival of these precious boys into our family. For those keeping score at home, these are grandchildren numbers 17 and 18 for my parents.”

According to the official handbook of the Church of Latter Day Saints, to which the Romney’s are members, surrogacy is not encouraged. “The Church strongly discourages surrogate motherhood,” the handbook reads.

A Romney aide, when asked about the church’s view on the procedure, said that Tagg had made the bishops at his church aware of his family’s plans.

Now a grandmother of 18, Ann Romney promptly tweeted her congratulations. “Grandchildren 17 and 18 are here -- congratulations @TRomney and Jen! We can’t wait to meet David and William,” she wrote.

David and William’s birth mean that Tagg and his wife are now the parents of both the eldest Romney grandchild -- 16-year-old Allie -- and the youngest. Romney, who has taken various grandchildren out on the trail with him during the campaign and mentions them often, may have nearly leaked the news of Tagg’s upcoming arrival back in September during a town hall in Goffstown, N.H.

“I care about the future of this country, I have 16 grandkids. 17, something like that,” he said. “Sixteen. I’m counting ones that aren’t hatched yet.” At the time, aides to Romney did not know which of Romney’s five children may have been pregnant.

Copyright 2012 ABC News Radio


Romney Camp Dismissive of Ponzi Accusations

Chip Somodevilla/Getty Images(BOSTON) -- The Romney campaign Tuesday denied a published report that alleges the presidential candidate and his eldest son have business connections to three individuals who were once accused of being involved in an $8.5 billion Ponzi scheme.

The report by the liberal blog Think Progress claims that Tagg Romney helped create a financial firm named Solamere Advisors with three executives from the Stanford Financial Group, a company that was seized by the U.S. government in 2009 after the Securities and Exchange Commission accused it of being “a massive Ponzi scheme.”

Tagg Romney told Think Progress that his partners -- Tim Bambauer, Deems May, and Brandon Phillips -- have been cleared of charges.

Think Progress, however, claims that those charges are still being adjudicated.

Solamere Advisors, according to the piece, is a subsidiary of Solamere Capital, which was founded by Tagg Romney and was invested in by his father as well as the Romney campaign’s National Fundraising Chair Spencer Zwick, who now serves as a managing partner at the firm.

A Romney campaign spokeswoman was dismissive of the article.

“It’s not surprising that a left-wing blog with a highly partisan agenda would publish false material as it relates to Mitt Romney. Mitt Romney has no ties to the Stanford Financial Group or any of its activities,” said campaign spokeswoman Andrea Saul.

Tagg Romney spoke to Think Progress earlier this month in Las Vegas and said that he had been aware of the accusations against his partners.

“Before we invested in them, they were in that. But they were cleared of that before we made our investment,” Tagg Romney said.

Tagg was also asked about any profits his business partners may have made in the scheme, to which he told ThinkProgress: “They probably made, their pay there was like $15,000 total. Those guys got totally screwed by the whole thing. It almost ended their whole careers because they moved all their clients over [to the Stanford Financial Group], and then the place was shut down two months after they moved their clients over. They hadn’t made any money yet. They had bonuses and everything promised to them, but they didn’t make any of their money. So they made no money.”

But according to Think Progress, Tagg Romney’s account isn’t entirely accurate: “According to documents reviewed by ThinkProgess using the Pacer search engine, charges against Tim Bambauer, Deems May, and Brandon Phillips have not been dropped. A recent court filing shows May requesting the court for arbitration instead of going to trial. ThinkProgress also spoke to the deputy clerk for the federal District Court in Dallas, and confirmed that the three men are still defendants in the lawsuit to recover the Ponzi scheme money.”

ThinkProgress also alleges, citing a court-appointed audit of the Stanford Financial Group, that the three partners also profited far more than Tagg Romney suggested.

Solamere Capital issued the following statement later Tuesday:

“It is inaccurate to suggest that Solamere Capital made an investment in this firm. Solamere Capital was approached to invest in a new wealth management firm being launched by these three individuals. After extensive due diligence, Solamere Capital decided not to invest because the business was at an early stage and did not meet our investment criteria.

“However, Spencer Zwick, Tagg Romney and Eric Scheuermann each own a minority stake in the business as individual investors.”

Copyright 2011 ABC News Radio

ABC News Radio