Wednesday, 4 July 2012

4/7 Romney's investment in abortion company

Mother Jones has obtained records from the Securities & Exchange Commission in relation to the deal that was made leading to Bain Capital, it's subsidiaries and associated companies investing in Stericycle, a company the disposes of aborted foetuses. A business that would be hard to swallow for pro-lifers in the Republican base.
Romney had previously claimed that he left Bain Capital in February 1999, implying that he had nothing to do with the decision the following November. However the documents reveal that he had dispositive power in the matter.
It appears Mitt was the principle mover pushing for the deal.
"Romney was the 'sole shareholder, Chairman, Chief Executive Officer and President of BCI, BCP VI Inc., Brookside Inc. and Sankety Ltd'" - Mother Jones
With Mitt's signature appearing on at least one of the documents.
The deal meant that Bain Capital bought an 11% share in  Stericycle, with associated companies purchasing a further 11%. The deal raised $49.5m for the Bain capital group.

"[Romney] may be deemed to share voting and dispositive power with respect to 2,116,588 shares or common stock in Stericycle 'in his capicaity as sole share holder' of the Bain entities that invested the company." - Mother Jones
Source TYT, Mother Jones
See Also CurrentTv

What do you think?

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