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tarheelsunc

(2,117 posts)
Tue Oct 23, 2012, 11:17 PM Oct 2012

Article from '08 asserts that Mitt misrepresented Staples value to cheat Maureen Stemberg

http://tantmieux.squarespace.com/cyrano-tant-mieux-articles-old/2008/2/5/a-fish-out-of-water-mitt-romney-the-wanna-be-president.html

It was about a year and half later later, in 1988 when called as a witness by Tom Stemberg’s lawyers for a divorce case that Romney said on record that Staples stock was, essentially, “over-valued. In his own-words, Romney said, “I didn’t place a great deal of credibility in the forecast of the company’s future.” (p. 441, appeals court document No. 95 P 286, Norfolk County) Romney is then asked how many times in the past he has “reviewed these kinds of offerings” (441). Yet in the early Spring of 1989 Staples went public. So much for undervalued. Either Mitt does not know his figures, or he was dangerously close to perjuring himself on the stand or outright lying. You decide…

Of course, as a senior at Bain, the answer can only be many times. Romney goes on to say that Tom Stemberg spoke about the future as if it were today. Tom Stemberg minimized the risk and maximized the high probability of success.” (p. 366 appeals court document No. 95 P 286, Norfolk County). And as Romney says to the attorney, “…and the dream went on.”
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Article from '08 asserts that Mitt misrepresented Staples value to cheat Maureen Stemberg (Original Post) tarheelsunc Oct 2012 OP
So is this the story the Boston Globe is trying to have unsealed by court order? fleur-de-lisa Oct 2012 #1
It must be. Same people, same Mitt, same courthouse. tarheelsunc Oct 2012 #3
Yes, but does help to cement people's perception of him. DLnyc Oct 2012 #6
Oh....that's it? ProudToBeBlueInRhody Oct 2012 #2
No one will care but courseofhistory Oct 2012 #8
If the ex-wife goes on TV and is a sympathetic person pnwmom Oct 2012 #24
Sure, Romney had to help his friend Tom Stemberg "harvest" the assets of the marriage. Business as avaistheone1 Oct 2012 #11
Perjury..Wouldn't be the first time. NT Pilotguy Oct 2012 #4
This sounds a lot more likely DLnyc Oct 2012 #5
Agreed. I don't see rMoney as a cheating husband . . . fleur-de-lisa Oct 2012 #9
Well, yes I agree about him being happy to help a friend cheat his soon-to-be-ex. DLnyc Oct 2012 #15
Women are not gonna like that one. Lone_Star_Dem Oct 2012 #7
Exactly, Lone_Star_Dem.. that's my first and only thought on this. Cha Oct 2012 #23
Must be juicier than that or Allred Maximumnegro Oct 2012 #10
True dny121 Oct 2012 #12
Not really.... ProudToBeBlueInRhody Oct 2012 #13
Not necessarily. LisaL Oct 2012 #14
This is a huge nothingburger if true. smorkingapple Oct 2012 #16
Wait, didn’t you say this whole thing will backfire? Wednesdays Oct 2012 #19
Thomas Speaks Highly of Romney otohara Oct 2012 #17
mitt romney Tenleytown Oct 2012 #18
It's not about the SEX....it's about the PERJURY. -- Republicans everywhere about Clinton Lex Oct 2012 #20
Mrs. Stemberg got about 500K shares of stock ... TexasBushwhacker Oct 2012 #21
Illogical KFredrick Oct 2012 #22
Yes. I'm stuck on that, as well. Jeff In Milwaukee Oct 2012 #25
It reduced his net worth. Lone_Star_Dem Oct 2012 #26

fleur-de-lisa

(14,628 posts)
1. So is this the story the Boston Globe is trying to have unsealed by court order?
Tue Oct 23, 2012, 11:21 PM
Oct 2012

And the one Gloria Allred is involved in?

tarheelsunc

(2,117 posts)
3. It must be. Same people, same Mitt, same courthouse.
Tue Oct 23, 2012, 11:24 PM
Oct 2012

Quite disappointing, because we already know he's a cheating businessman, it does not present anything new.

courseofhistory

(801 posts)
8. No one will care but
Tue Oct 23, 2012, 11:27 PM
Oct 2012

it is typical of him to do something like that--lie or fudge the numbers for a friend so his wife (soon to be ex) is cheated out of a lot of money. (unless it could be proven he perjured himself--which is doubtful).

pnwmom

(108,997 posts)
24. If the ex-wife goes on TV and is a sympathetic person
Wed Oct 24, 2012, 04:33 AM
Oct 2012

and talks about how Romney helped cheat her . . . .

 

avaistheone1

(14,626 posts)
11. Sure, Romney had to help his friend Tom Stemberg "harvest" the assets of the marriage. Business as
Tue Oct 23, 2012, 11:32 PM
Oct 2012

usual the Mitt Robme way. Just like Robme said regarding the businesses he plundered; he would "harvest them at significant profit."
I wouldn't be surprised if Robme ripped off Maureen Stemberg in order to help her husband's side of the balance sheet in this divorce.



DLnyc

(2,479 posts)
5. This sounds a lot more likely
Tue Oct 23, 2012, 11:25 PM
Oct 2012

The story about a woman being attracted to mitt seems highly improbable, IMHO.

The story about mitt lying seems remarkably believable.

On the other hand, if he were accused of telling the truth about something I would have to be skeptical.

fleur-de-lisa

(14,628 posts)
9. Agreed. I don't see rMoney as a cheating husband . . .
Tue Oct 23, 2012, 11:28 PM
Oct 2012

but helping his friend cheat his soon-to-be-ex-wife out of money during divorce proceedings by perjuring himself, yeah, that's the Robme we've all come to know and loathe!

DLnyc

(2,479 posts)
15. Well, yes I agree about him being happy to help a friend cheat his soon-to-be-ex.
Tue Oct 23, 2012, 11:38 PM
Oct 2012

But I wasn't saying mitt wouldn't be a cheating husband, just that I have a hard time imagining a woman who would want to cheat WITH him!

Lone_Star_Dem

(28,158 posts)
7. Women are not gonna like that one.
Tue Oct 23, 2012, 11:26 PM
Oct 2012

What an ass. Even rich women are going to be ticked he pulled that stunt.

He lied to screw over the wife in a divorce. Every woman's nightmare who went through a bad divorce.

Cha

(297,733 posts)
23. Exactly, Lone_Star_Dem.. that's my first and only thought on this.
Wed Oct 24, 2012, 04:17 AM
Oct 2012

Not helping with the women..just adding to his and gop's War On Women and the Binders Full of Women mentality.

dny121

(8 posts)
12. True
Tue Oct 23, 2012, 11:33 PM
Oct 2012

If there is a gag order and it was sealed, but who knows, will have to wait if its anything at all.

ProudToBeBlueInRhody

(16,399 posts)
13. Not really....
Tue Oct 23, 2012, 11:35 PM
Oct 2012

It's a woman getting screwed over by a powerful man, and it HUGE publicity and a lot cameras. Gloria will be right there.

LisaL

(44,974 posts)
14. Not necessarily.
Tue Oct 23, 2012, 11:35 PM
Oct 2012

She represents female victims.
If a woman was cheated out of money that should be good enough, IMO.

TexasBushwhacker

(20,219 posts)
21. Mrs. Stemberg got about 500K shares of stock ...
Wed Oct 24, 2012, 02:25 AM
Oct 2012

and she sold half of it before it went public. Now, I have no idea how much those shares were worth, but they raised $37 million from the IPO. The stock started at $1 per share and stayed under $5 a share until 1996. Then it started taking off, eventually getting as high as $26 a share.

http://finance.yahoo.com/echarts?s=SPLS+Interactive#symbol=spls;range=my;compare=;indicator=volume;charttype=area;crosshair=on;ohlcvalues=0;logscale=off;source=undefined;

My question is, if Mitt testified it was "overvalued" why did Bain stay invested and why did he serve on the board for 15 years?

KFredrick

(2 posts)
22. Illogical
Wed Oct 24, 2012, 02:48 AM
Oct 2012

If Romney undervalued the stock, Ms. Stemberg would naturally demand MORE of it. If the intent was to rip her off, he would have overstated the potential value so she would demand fewer shares.

Jeff In Milwaukee

(13,992 posts)
25. Yes. I'm stuck on that, as well.
Wed Oct 24, 2012, 08:49 AM
Oct 2012

Last edited Wed Oct 24, 2012, 11:00 AM - Edit history (1)

Maybe there's something else there, and that's why Allred and the Globe are trying to get at the records.

Edit: Unless the use the "over-valued" as a ruse to get the -ex to accept come other (less valuable) consideration.

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