I think I have this straight in that the Romneys invested at least $1 million in a fund that took control of Delphi. Delphi was saved via a transfer of TARP money ($2.5 billion) from GM. Once stabilized the stock value of Delphi skyrocketed and the Romney’s investment increased in value at least 15 fold.
Romney would not release his 2009 tax return. This is the return that would have shown the profit from this investment. In later returns he listed a minimum $1 million investment in the fund but it was listed in his wife’s blind trust. That meant he did not have to disclose the details of the investment, just the minimum amount.
Romney stated in the past that he had “a huge chunk of his vast wealth” invested with this fund.
After Delphi was stabilized the fund reduced employee pensions to generate cash flow. Once the company was healthy enough they moved the jobs overseas to Asia.
In Asia they bought factory assets from a company called Bain Capital.