The McCain campaign claims that campaign manager Rick Davis separated from his lobbying firm, Davis Manafort, in 2006:
In fact, the allegation is demonstrably false. As has been previously reported, Mr. Davis separated from his consulting firm, Davis Manafort, in 2006. As has been previously reported, Mr. Davis has seen no income from Davis Manafort since 2006. Zero. Mr. Davis has received no salary or compensation since 2006. Mr. Davis has received no profit or partner distributions from that firm on any basis — weekly, bi-weekly, monthly, bi-monthly, quarterly, semi-annual or annual — since 2006. Again, zero. Neither has Mr. Davis received any equity in the firm based on profits derived since his financial separation from Davis Manafort in 2006.
This record, which I retrieved from the Virginia State Corporations Commission shows that Davis is still an officer/director of Davis Manafort, Inc. He is also currently the clerk/treasurer of Davis Manafort Partners, Inc. (Click on the image at left to view a larger version.)
Corporate officers/directors don’t necessarily get paid and don’t necessarily "receive equity" based on the profits of the corporation. But whether Davis has been paid, or received any equity based on Davis Manafort’s profits since 2006 is a separate question from whether he retains a connection to the firm.
The public record shows that Davis has an ongoing business relationship with the firm Davis Manafort, Inc–a firm mortgage Freddie Mac paid $15,000 a month up until the government took it over last month, purely because of Davis’s proximity to Senator McCain.
If you are still a director of a company, you have not separated from it. The McCain camp is lying again.