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New Stake houses sponsored by Burger King?
Posted: Wed Jan 18, 2012 2:55 pm
by _Drifting
Newly uncovered stock contributions made during Romney's Bain days suggest there is another dimension to Romney's support for the church -- one that could involve millions more than has been previously disclosed.
As part of just one Bain transaction in 2008, involving its investment in Burger King Holdings, filings with the Securities and Exchange Commission reveal that an unnamed Bain partner donated 65,326 shares of Burger King stock to the Church of Jesus Christ of Latter-day Saints, holdings then worth nearly $1.9 million. And there were numerous others, giving the church a stake in other Bain properties, such as Domino's Pizza, the electronics manufacturer DDi, the phosphates company Innophos Holdings, and Marquee Holdings, the parent to AMC Theaters.
The Republican presidential candidate's campaign staff confirmed that some of the stock transactions were at Romney's direction, but they would not say which ones.
I'm sure this has no bearing or influence on the Church's position with regards to Mitt's candidacy as opposed to Jon's....
Re: New Stake houses sponsored by Burger King?
Posted: Wed Jan 18, 2012 4:27 pm
by _DarkHelmet
Drifting wrote:Newly uncovered stock contributions made during Romney's Bain days suggest there is another dimension to Romney's support for the church -- one that could involve millions more than has been previously disclosed.
As part of just one Bain transaction in 2008, involving its investment in Burger King Holdings, filings with the Securities and Exchange Commission reveal that an unnamed Bain partner donated 65,326 shares of Burger King stock to the Church of Jesus Christ of Latter-day Saints, holdings then worth nearly $1.9 million. And there were numerous others, giving the church a stake in other Bain properties, such as Domino's Pizza, the electronics manufacturer DDi, the phosphates company Innophos Holdings, and Marquee Holdings, the parent to AMC Theaters.
The Republican presidential candidate's campaign staff confirmed that some of the stock transactions were at Romney's direction, but they would not say which ones.
I'm sure this has no bearing or influence on the Church's position with regards to Mitt's candidacy as opposed to Jon's....
That article is interesting. On the one hand, he is living his religion by giving ten percent. On the other hand, giving millions in cash and stocks to a church seems a little weird to most people. Charitable donations is one thing, but millions in cash and stock to a single organization may concern people.
Re: New Stake houses sponsored by Burger King?
Posted: Wed Jan 18, 2012 11:14 pm
by _Mercury
Drifting wrote:Newly uncovered stock contributions made during Romney's Bain days suggest there is another dimension to Romney's support for the church -- one that could involve millions more than has been previously disclosed.
As part of just one Bain transaction in 2008, involving its investment in Burger King Holdings, filings with the Securities and Exchange Commission reveal that an unnamed Bain partner donated 65,326 shares of Burger King stock to the Church of Jesus Christ of Latter-day Saints, holdings then worth nearly $1.9 million. And there were numerous others, giving the church a stake in other Bain properties, such as Domino's Pizza, the electronics manufacturer DDi, the phosphates company Innophos Holdings, and Marquee Holdings, the parent to AMC Theaters.
The Republican presidential candidate's campaign staff confirmed that some of the stock transactions were at Romney's direction, but they would not say which ones.
I'm sure this has no bearing or influence on the Church's position with regards to Mitt's candidacy as opposed to Jon's....
This is how fat cat Mormons pay tithing. Nothing surprising here.
What is the source?
Re: New Stake houses sponsored by Burger King?
Posted: Thu Jan 19, 2012 12:08 am
by _zeezrom
DarkHelmet wrote:That article is interesting. On the one hand, he is living his religion by giving ten percent. On the other hand, giving millions in cash and stocks to a church seems a little weird to most people. Charitable donations is one thing, but millions in cash and stock to a single organization may concern people.
I believe this is alarming to many nevermos.
"My religious beliefs won't drive any decisions I make as the President, but I donate millions to the church every year."
Re: New Stake houses sponsored by Burger King?
Posted: Thu Jan 19, 2012 12:22 am
by _Dr. Shades
Drifting wrote:I'm sure this has no bearing or influence on the Church's position with regards to Mitt's candidacy as opposed to Jon's....
What's the church's position with regards to Mitt's candidacy as opposed to John's?
Re: New Stake houses sponsored by Burger King?
Posted: Thu Jan 19, 2012 12:27 am
by _Drifting
Dr. Shades wrote:Drifting wrote:I'm sure this has no bearing or influence on the Church's position with regards to Mitt's candidacy as opposed to Jon's....
What's the church's position with regards to Mitt's candidacy as opposed to John's?
One could hazard a guess that Jon's backing away from being seen as a zealous Mormon might have been instrumental in Mitt's corresponding rise to prominence.
Re: New Stake houses sponsored by Burger King?
Posted: Thu Jan 19, 2012 12:32 am
by _Drifting
Mercury wrote:
This is how fat cat Mormons pay tithing. Nothing surprising here.
What is the source?
I just googled Mormons in the news section.
I think it was on ABC News.
Re: New Stake houses sponsored by Burger King?
Posted: Thu Jan 19, 2012 2:06 am
by _Quasimodo
This is great! Better food at church functions and this guy heading up Sacarament Meetings:
Re: New Stake houses sponsored by Burger King?
Posted: Thu Jan 19, 2012 2:28 am
by _moksha
Many people have given tangible property in lieu of cash donations as a form of tithing. These donations are latter helpful in claiming a tax deduction. Is Romney being faulted for paying his tithing or its claimed valuation? Have people insinuated that federal land holdings in Utah may be used for a similar purpose, but without any open acknowledgment that it was in lieu of tithing? I thought not.
Re: New Stake houses sponsored by Burger King?
Posted: Thu Jan 19, 2012 1:08 pm
by _Drifting
http://news.yahoo.com/bain-deals-romney ... 27096.htmlFor Mercury
Another quote from the article...
WASHINGTON (Reuters) - Using a practice that made him eligible for large tax deductions, Mitt Romney gave the Mormon church substantial stock holdings that he obtained through his private equity firm, according to documents filed with the government and to Romney associates.