Charges that Romney made profits from Abortions
Posted Wed Aug 22, 2012 07:58 PM
TAMPA, FL (MMD Newswire) August 16, 2012 — Republican spokesmen for a rising "DUMP ROMNEY" rebellion today charged that Mitt Romney is "hiding Bain abortion profits in his tax returns" from investments that "would make Herod blush."
Steve Baldwin, former Republican Whip of the California State Assembly, said recent journalism about the actual date of Romney's departure from Bain Capital "has almost certainly revealed the real reason Romney refuses to release any more than two years of personal IRS data: Bain's craven investment in Stericycle corporation a vendor for Planned Parenthood lined Romney's pockets with profits from the incineration of aborted human fetuses. Mitt, it's time to disclose your tax returns and everything else about Stericycle."
Baldwin, also former Executive Director of the Council for National Policy (CNP), an influential conservative organization in Washington, said, "Tampa's GOP delegates will shame themselves if they don't conscientiously abstain from Romney on the first ballot to derail the worst nominee in our party's history. We're convinced Mitt Romney is hiding Bain abortion profits in his tax returns."
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?
- Stericycle is just one more immoral Bain/Romney investment: "Rusty Leonard, president of Stewardship Partners, says Romney ... — who is aggressively courting "religious right" voters — owns stock in at least a dozen companies with active ties to abortion... and pornography."
Dr. Gary Cass, a Presbyterian minister and Baldwin's co-spokesman in the "DUMP ROMNEY" push said, "It seems the Republican Party is on the very brink of nominating a man who's hiding a bloody record of such Biblical proportions, it would make Herod blush. We fear that Mitt Romney's secret tax returns will show that he has financed and profited, like some ancient priest of Moloch or Baal, from the burning of human babies, from child sacrifice. If that's so, could the GOP sink any lower than to nominate this man?"