Etch-A Sketch Fail: Romney Invested In Medical-Waste Firm Government Documents Show

[SunsetDreams]

Romney Invested in Medical-Waste Firm That Disposed of Aborted Fetuses, Government Documents Show
And these documents challenge Romney's claim that he left Bain Capital in early 1999.

Earlier this year, Mitt Romney nearly landed in a politically perilous controversy when the Huffington Post reported that in 1999 the GOP presidential candidate had been part of an investment group that invested $75 million in Stericycle, a medical-waste disposal firm that has been attacked by anti-abortion groups for disposing aborted fetuses collected from family planning clinics. Coming during the heat of the GOP primaries, as Romney tried to sell South Carolina Republicans on his pro-life bona fides, the revelation had the potential to damage the candidate's reputation among values voters already suspicious of his shifting position on abortion.

But Bain Capital, the private equity firm Romney founded, tamped down the controversy. The company said Romney left the firm in February 1999 to run the troubled 2002 Winter Olympics in Salt Lake City and likely had nothing to with the deal. The matter never became a campaign issue. But documents filed by Bain and Stericycle with the Securities and Exchange Commission—and obtained by Mother Jones—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 because 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.

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."

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

Poor little Romocchio!



____________________________

Stephanie Cutter requests retraction from Fact-Check.org
http://images.politico.com/global/2012/07/ofa_factcheck_letter_-_final.html

You can read the letter to see some of the documents by the SEC referenced. Love it!

____________________________

Where there's smoke there's fire, and as Salon's Alex Seitz-Wald points out, if Romney lied about that investment, then he also appears to have lied in his official financial disclosure forms filed with the government.

Twice, first in 2007 during his earlier presidential bid and again this year, Romney filed personal disclosure forms with the Office of Government Ethics which explicitly state that Romney left Bain in early 1999. “Mr. Romney retired from Bain Capital on February 11, 1999 to head the Salt Lake Organizing Committee. Since February 11, 1999, Mr. Romney has not had any active role with any Bain Capital entity and has not been involved in the operations of any Bain Capital entity in any way,” his ethics filings from June state.

But as Corn's report details, that timeline doesn't add up. Romney personally signed documents after February of 1999 related to the human-waste disposal deal and SEC documents also indicate he was a key investor in the deal. Moreover, according to contemporaneous public reports from Bain and the Boston Herald, Romney did not sever all ties or management responsibilities when he assumed his job running the winter Olympics.

Bottom line: Romney's story doesn't compute, and given that the credibility of all the defenses he makes to Bain criticism depend on whether or not you take his word, he's got a real problem developing—if the media is paying attention.

http://www.dailykos.com/story/2012/07/02/1105315/-Romney-s-Bain-timeline-doesn-t-add-up

[RagAss]

1. This fucking drum needs to be beat until November !!!!!

[SunsetDreams]

5. agreed

Every time he and his campaign open their mouth, there is nary a fact to be found.

[tosh]

2. kick!

[railsback]

3. The main thing here, other than his pro-life hypocrisy

is that Romney lied on his financial disclosure forms, meaning he broke the law. Yes, this is BIG news, meaning the MSM will now focus on why Obama isn't using his super human powers to personally restore power to those stuck sweltering in a horrific heat wave.

[SunsetDreams]

7. "Romney lied on his financial disclosure forms"

Yes!! BIG NEWS and BFD indeed!

[SunsetDreams]

8. You might find this interesting

in light of your comment.

Where there's smoke there's fire, and as Salon's Alex Seitz-Wald points out, if Romney lied about that investment, then he also appears to have lied in his official financial disclosure forms filed with the government.

Twice, first in 2007 during his earlier presidential bid and again this year, Romney filed personal disclosure forms with the Office of Government Ethics which explicitly state that Romney left Bain in early 1999. “Mr. Romney retired from Bain Capital on February 11, 1999 to head the Salt Lake Organizing Committee. Since February 11, 1999, Mr. Romney has not had any active role with any Bain Capital entity and has not been involved in the operations of any Bain Capital entity in any way,” his ethics filings from June state.

But as Corn's report details, that timeline doesn't add up. Romney personally signed documents after February of 1999 related to the human-waste disposal deal and SEC documents also indicate he was a key investor in the deal. Moreover, according to contemporaneous public reports from Bain and the Boston Herald, Romney did not sever all ties or management responsibilities when he assumed his job running the winter Olympics.

Bottom line: Romney's story doesn't compute, and given that the credibility of all the defenses he makes to Bain criticism depend on whether or not you take his word, he's got a real problem developing—if the media is paying attention.

http://www.dailykos.com/story/2012/07/02/1105315/-Romney-s-Bain-timeline-doesn-t-add-up

I've added it to the OP.

[railsback]

10. I just saw Corn tonight

and he says Stericycle isn't an isolated incident, that there are others Romney has been fully engaged in with Bain after his so-called 'retirement'. He also added that this is probably one of the main reasons why Romney is refusing to release his tax returns.

This should be major. Not only does it blow the doors off the 'After Bain' defense, it also points to the fact that Romney has been willfully giving the government false information about his income, which is against the law. Let's hope the media grows a spine and does its job.

[SunsetDreams]

12. I missed that

This really needs to grow some legs. For a presidential candidate to knowingly and willfully provide the government false information is beyond the pale.

[BumRushDaShow]

4. The ads keep writing themselves.

K&R!!!

[SunsetDreams]

9. Indeed they do

Hold on to your seat this could be an exciting ride!!

[WillyT]

6. HUGE K & R !!!

[Tarheel_Dem]

11. K&R

[avebury]

13. I passed the story onto a few friends and

this is the response I got back from one friend:

The abortion issue is absolutely inflammatory with lots of misinformation and falsehoods from both sides. I wouldn't believe any of it. I support Planned Parenthood even though I'm in general against abortion and have no problems with a company that services Planned Parenthood. My vote will not be based on a candidates stance on abortion. Its to bad that there is so little dirt to be found on Romney that things that are actually positive are being twisted to appear bad. Kind of like saying that because Obama attended a church with a racist as the minister it makes Obama a racist. Or how about the one that because he lived in a Muslim country and attended a Muslim school as a child he is therefore Muslim and therefore evil. Please drop the slander and negative campaigning and stick to issues or we'll never survive this next election. Have you switched parties yet?

This was my reply:

The following are facts:
!. Mitt Romney did sign the document making the $75 million investment in Stericycle (according to documents file with the SEC).
2 Mitt Romney, during the Republican Primary denied that he was involved with the transactions because it occurred after he left Bain (this claim contradicts documents filed with the SEC).
3. Stericycle deals with disposal of medical wastes, including aborted fetuses
4. Mitt Romney does earn income from Bain Capital which would make him a profiteer of the abortion process
5. While at Bain, Romney was involved with the outsourcing of jobs to other countries, a story he has denied but is proven true upon further examination of documents. This story is gaining traction and not going away
6. Romney refuses to release copies of his tax returns at the level as other Presidential candidates.

It doesn't matter what anybody thinks about the social issues. What does matter is that Romney has lied about his business activities and it makes people wonder what all he is hiding that could be figured out by looking at his tax returns. Every other Presidential candidate has had no problems releasing their tax returns. He is already being caught in out right lies which should raise red flags for anybody that would consider voting for him for any office.


You know what really pisses me off about her response is the inability of the left to find "dirt" on Romney. There is a lot of stuff that can be reported by the main stream media and they don't. I am tired of the people who treat Romney like a saint.

[SunsetDreams]

14. kick