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Bain, Romney Invested in Company That Disposed of Aborted Fetuses

Bain, Romney Invested in Company That Disposed of Aborted Fetuses

 

Mitt Romney led Bain Capital to invest in a company that disposes of medical waste, including aborted fetuses, according to a report in Mother Jones. The report also indicates that Bain Capital misled reporters earlier this year when they said that Romney had left Bain prior to Bain’s $75 million investment in Stericycle.

Bain had said that Romney left Bain in February of 1999 to head the Salt Lake Olympic Committee, and had not been involved in the decision to invest in Stericycle. But the report by Mother Jones showed that Romney ended up personally controlling about 11 percent of  the shares in Stericycle, and that Bain as a whole ended up owning almost 23 percent of shares.

The report also said that Romney personally signed the November 1999 Schedule 13D form filed with the SEC, detailing the acquisition of Stericycle. Also  in November of 1999, an SEC document listed Romney as a person holding “voting and dispositive power” over Bain’s shares of Stericycle. Romney was, in fact, the only Bain executive named in that document.

Stericycle was founded in 1989, when it began irradiating medical waste to sterilize it. While the firm has had regulatory problems, including cases where employees were exposed to life-threatening diseases such as tuberculosis, the company has grown to become the largest medical waste-disposal company in the United States.

Stericycle has been a target of disdain for the anti-abortion movement, which has targeted the organization for its role in disposal of medical waste, including aborted fetuses.

While Stericycle had not yet come under fire from the anti-choicers in 1999, there is no question that they were involved in servicing abortion clinics at the time. Romney did not object, though, primarily because in 1999, Romney was pro-choice, a position he would defend when running for governor of Massachusetts in 2002. Like many of Romney’s positions, he switched his abortion position around the same time he decided to first seek the Republican Party nomination for president.

The revelations about the Stericycle investment don’t just highlight Romney’s staggering record of flip-flopping for personal and political gain. They also suggest that Romney may have been more involved with Bain, for a longer amount of time, than either he or Bain have been willing to admit. Part of the Romney campaign’s defense on Bain’s outsourcing record has been that Romney left Bain in February of 1999, very early in the process. These reports indicate that this simply was not the case. While Romney may have been less involved with Bain after he started working on the 2002 Winter Games, the investment in Stericycle shows he was far from retired.

 

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78 comments

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7:24PM PDT on Aug 20, 2012

MITTENS DID THIS? Nah....he didn't know what they were! He just saw an opportunity to make MONEY! Because that's what his Jesus always urged people to do....isn't it? Live to make money?

10:08AM PDT on Aug 20, 2012

A GOP spokesman recently denied that she commented that Maybe Rmoney should have been one of those aborted fetuses?

1:37AM PDT on Jul 7, 2012

Sounds like he may have cooked his goose on this one! Will he squirm his way out of this? Does he have Any descent qualities, this jaded piece of humanity!

1:01AM PDT on Jul 7, 2012

Of course Mitt Romney invested in companies like Stericycle. He had to find SOME place that would dispose of aborted fetuses. Then when he makes his anti-choice programs, he can hide the evidence and brag about what a great job he's doing by reducing abortions, when it's all a lie in the first place.

3:27PM PDT on Jul 6, 2012

Noone in Washington DC including Obama are innocent. Ever heard of planned parenthood he championed it and its nothing but govt funded abortion clinics. So like I said noone In DC is innocent. And Neither Obama or Romney are fit to be president.

8:35PM PDT on Jul 5, 2012

Some direct links I dug up at the sec.gov site related to Romney and Stericycle
for those that would like some direct proof of what and WHEN

http://www.sec.gov/Archives/edgar/data/861878/0000950131-01-500771.txt
http://www.sec.gov/Archives/edgar/data/861878/0000950137-00-001992.txt

8:26PM PDT on Jul 5, 2012

They all do & don't do, when convenient. Don't we all? But this is different. Most well-heeled people become bored, and boy is this the platinum ring for those who collect. He's done and has everything but this. I personally am not interested in this family's achievement at our expense. I've really gave this guy an opportunity to convince me he has all our best interest "American citizens" in mind. He scares the bejesus out of me. He is what I refer to as an opportunity thief.

6:13PM PDT on Jul 5, 2012

Oh, Mitt, it is so hard to make as much money as possible and still stay within the narrow frame of ultra conservative "family values"! We feel your pain. We really do. No, really. We do. We all park our millions in Bermuda and other tax havens, too. Really.

8:32AM PDT on Jul 5, 2012

I can't wait for Mittens house of cards to come tumbling down around him.

3:40AM PDT on Jul 5, 2012

Looks like "Mint" is making money and deals wherever he can.

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