I read an article on Bloomberg news this morning that inspired my title:Bloomberg: Donors Invest Millions in Romney for Billions in Returns. In it, the author describes the possible returns for various billionaires on their investments of millions of dollars in Romney, Inc.
First, how much cash are we talking about?
They are pooling their money in nonprofits, which keep contributor names secret, and super- political action committees, which amassed $350 million through the end of July.Bloomberg: Donors Invest Millions in Romney for Billions in Returns
One-quarter of that money comes from just 10 donors, led by Las Vegas casino billionaire Sheldon Adelson, according to data from the Center for Responsive Politics, a Washington-based group that tracks such spending.
So we're talking an investment of about at least $85 million so far by 10 people, an average of $8.5 M per person.
So what can you buy for this investment?
Yet Romney is more than just a political kindred spirit; he’s a sound investment. Here’s how a Romney presidency might pay off -- literally -- for some of these super-donors.Bloomberg: Donors Invest Millions in Romney for Billions in Returns
Let's start with Sheldon Adelson:
Adelson, 79, who is this election’s biggest spender, could see his casino profits soar if Romney’s pledge to crack down on China turns out as planned.Bloomberg: Donors Invest Millions in Romney for Billions in Returns
If the value of the Chinese currency were higher against the dollar -- as Romney has demanded -- it would give a boost to Adelson’s bottom line. That’s because gamblers from China, who make up the bulk of visitors to Macau’s casinos, would bring the same amount of yuan for betting no matter the exchange rate, said Grant Govertsen, an analyst with Union Gaming Group. So, in dollar terms, they’d be spending more.
And there's a bonus, because Sheldon Adelson's company and Chinese gambling empire is being investigated by the feds for potential criminal violations:
[Alderson's compnay] is a focus of a wide-ranging federal investigation into potential bribery of foreign officials and other matters in China and Macau, according to people with direct knowledge of the inquiries.NY Times
The investigations are unfolding as Mr. Adelson has become an increasing presence in this year’s presidential election, contributing at least $35 million to Republican groups. On Tuesday, Mitt Romney’s running mate, Representative Paul D. Ryan, is to appear at a fund-raiser at the Sands’s Venetian casino in Las Vegas; Mr. Adelson is likely to attend, a person close to him said.
No doubt a Romney adminstration DOJ would end that investigation on the first day in office or soon thereafter.
So big money and a get-out-of-jail-free card. A pretty good investment for Mr. Adelson.
Let's look at another investor In Romney, Inc.:
[Harold] Simmons has a net worth of at least $6.5 billion, by Bloomberg estimates. He and his wife have contributed more than $15.7 million to Republican super-PACs, including American Crossroads.Bloomberg: Donors Invest Millions in Romney for Billions in Returns
So what is Simmons buying? Radioactive waste contracts for his company and huge profits for a losing business:
Simmons’s Contran Corp. owns 90 percent of the publicly traded Valhi Inc. (VHI) The weakest Valhi entity is Waste Control Specialists, which lost $38 million last yearBloomberg: Donors Invest Millions in Romney for Billions in Returns
The Houston-based company could become profitable, gaining access to a market worth billions, if the Nuclear Regulatory Commission changes a rule. That change would allow Simmons’s 1,338-acre West Texas dump to accept depleted uranium left over from weapons manufacturing during the Cold War and from the production of fuel for nuclear power plants.
A good investment.
Go here and read more examples of investments in Romney Inc., including by David and Charles Koch and John Childs: Bloomberg: Donors Invest Millions in Romney for Billions in Returns
Corporations are people, my friends, and this person is a corporation it seems.
Romney, Inc., is an investment vehicle for some of our richest Americans. As an investment vehicle, it makes sense to list on the New York Stock Exchange. Furthermore, securities disclosure laws should apply to Romney. Invvestors should be guaranteed up front the exact way in which Romney will subvert our government to provide increased profits for the investors, so those investors can shop around. The free market requires that so investors can comparison shop among dictators elsewhere and Romney to see who can provide the biggest bang for the buck.
Another reason why we must do all we can to re-elect Barack Obama.