Romney fools Right-to-lifers; his company makes tens of millions disposing of aborted fetuses

[Divernan]

"Documents filed by Bain and Stericycle with the Securities and Exchange Commission list Romney as an active participant in the investment. And this deal helped Stericycle, a company with a poor safety record, grow, while yielding TENS OF MILLIONS OF DOLLARS IN PROFITS FOR ROMNEY AND HIS PARTNERS. The documents—ONE OF WHICH WAS SIGNED BY ROMNEY—also contradict the official account of Romney's exit from Bain.

The Stericycle deal—the abortion connection aside—is relevant becau
se of questions regarding the timing of Romney's departure from the private equity firm he founded. Responding to a recent Washington Post story reporting that Bain-acquired companies outsourced jobs, the Romney campaign insisted that Romney exited Bain in February 1999, a month or more before Bain took over two of the companies named in the Post's article. The SEC documents undercut that defense, indicating that Romney still played a role in Bain investments until at least the end of 1999.

http://www.motherjones.com/politics/2012/07/romney-bain-abortion-stericycle-sec

This story is new to me and it's beyond outrageous that it didn't make headlines last summer. Spread the word to all your gullible pro-life friends, relatives & co-workers.

Where Romney is concerned, profits trump principles every day of his life.

[lunasun]

1. where is this in the M$M??? or even some fundie blogs not going with this story and

attempting to hold his feet to the fire on this fetus stuff ????

Imagine if it was Obama
what all those fundie churches would be talking about along with the MSM covering it
wow oh talk about a free pass for all the puke candidates
msm and their base just sucks it in
not their concern
but war is $ and when Mitt ended the debate with "peace " I near puked
another false hood from him

[libdem4life]

2. Republican Ethics is an oxymoron.

[Divernan]

3. The Mother Jones article laid out all the facts, chapter and verse.

"Here's what happened with Stericycle. In November 1999, Bain Capital and Madison Dearborn Partners, a Chicago-based private equity firm, filed with the SEC a Schedule 13D, which lists owners of publicly traded companies, noting that they had jointly purchased $75 million worth of shares in Stericycle, a fast-growing player in the medical-waste industry. (That April, Stericycle had announced plans to buy the medical-waste businesses of Browning Ferris Industries and Allied Waste Industries.) The SEC filing lists assorted Bain-related entities that were part of the deal, including Bain Capital (BCI), Bain Capital Partners VI (BCP VI), Sankaty High Yield Asset Investors (a Bermuda-based Bain affiliate), and Brookside Capital Investors (a Bain offshoot). And it notes that Romney was the "sole shareholder, Chairman, Chief Executive Officer and President of BCI, BCP VI Inc., Brookside Inc. and Sankaty Ltd."

"The document also states that Romney "may be deemed to share voting and dispositive power with respect to" 2,116,588 shares of common stock in Stericycle "in his capacity as sole shareholder" of the Bain entities that invested in the company. That was about 11 percent of the outstanding shares of common stock. (The whole $75 million investment won Bain, Romney, and their partners 22.64 percent of the firm's stock—the largest bloc among the firm's owners.) The original copy of the filing was signed by Romney.

"Another SEC document filed November 30, 1999, by Stericycle also names Romney as an individual who holds "voting and dispositive power" with respect to the stock owned by Bain. If Romney had fully retired from the private equity firm he founded, why would he be the only Bain executive named as the person in control of this large amount of Stericycle stock?

[EC]

4. It's been around a while

and I wondered why it hasn't been used in a commercial by one of the women's groups or moveon.