What If They Gave A Scandal And Nobody Came?

NY Times reporters Andrew Jacobs and Penn Bullock wrote it onto the front page but their latest Romney 'scandal' has not found a following at Memeorandum [Hmm, a self-defeating prophecy...].  The gist:

Firm Romney Founded Is Tied to Chinese Surveillance

BEIJING — As the Chinese government forges ahead on a multibillion-dollar effort to blanket the country with surveillance cameras, one American company stands to profit: Bain Capital, the private equity firm founded by Mitt Romney.

In December, a Bain-run fund in which a Romney family blind trust has holdings purchased the video surveillance division of a Chinese company that claims to be the largest supplier to the government’s Safe Cities program, a highly advanced monitoring system that allows the authorities to watch over university campuses, hospitals, mosques and movie theaters from centralized command posts.

The Bain-owned company, Uniview Technologies, produces what it calls “infrared antiriot” cameras and software that enable police officials in different jurisdictions to share images in real time through the Internet. Previous projects have included an emergency command center in Tibet that “provides a solid foundation for the maintenance of social stability and the protection of people’s peaceful life,” according to Uniview’s Web site.

Such surveillance systems are often used to combat crime and the manufacturer has no control over whether they are used for other purposes. But human rights advocates say in China they are also used to intimidate and monitor political and religious dissidents. “There are video cameras all over our monastery, and their only purpose is to make us feel fear,” said Loksag, a Tibetan Buddhist monk in Gansu Province. He said the cameras helped the authorities identify and detain nearly 200 monks who participated in a protest at his monastery in 2008.

Mr. Romney has had no role in Bain’s operations since 1999 and had no say over the investment in China. But the fortunes of Bain and Mr. Romney are still closely tied.

The financial disclosure forms Mr. Romney filed last August show that a blind trust in the name of his wife, Ann Romney, held a relatively small stake of between $100,000 and $250,000 in the Bain Capital Asia fund that purchased Uniview.

First, thank heaven no one has linked Romney to the video equipment used by the NYPD at the Republican National Convention in 2004!  Liberals would never vote for him.

As the story notes this is dual use equipment; Romney left Bain in 1999; Bain acquired Uniview, the camera manufacturer, in 2010; and Romney has no say in their investment decisions.

And dare we have a moment of perspective?  Romney's net worth is estimated to be in excess of $250 million.  The Times is breathless about a $250 thousand dollar investment in Bain Capital Asia, which notes investments in 18 companies including the video camera manufacturer.  As a ballpark guess, Romney's (blind, indirect) stake in Uniview might be $25,000, which would be 0.01% of his net worth.  Consequential?  Not to a guy who infamously described his $374,000 in speaking fees as "not very much".

But let's spin like Lin and press on for a bit more perspective! Per their most recent financial disclosure (May 2011), Barack and Michelle Obama have between $100,000 and $250,000 in 529 college funds for both Sasha and Malia.  Each young lady is invested in the Bright Directions® College Savings Program for 9-12 year olds, and all seems to be admirable and above-board. 

But is it? (Cue "Jaws" soundtrack...)

The disclosure form does not indicate whether the Obama are in the aggressive, moderate or timid variations of the Bright Directions fund, but no matter - all three variations have a mix of equity mutual funds, including some index funds and the utterly non-controversial TR Price Institutional Large Cap Growth Fund.

But hold the front page! The TR Price managers have put roughly 1% of their assets into Baidu, the Chinese search engine famous for its repression of dissent.  Really, Barack?

And another 1% is in Peabody Energy, "the largest private-sector coal company in the world".  Seriously, Michelle?

Sasha and Malia will be going to college funded by global warming denialism and repression in China - where is the outrage?

Since you asked, my very rough guess is that the Sasha and Malia college funds combine for about 6% of the Obama net worth of (my guess) $5 million.  Take 2% of 6% and - isn't that interesting - these controversial investments are as inconsequential to the Obama fortune as the Uniview stake is to the Romney fortune.  (One might argue that the Obama stake is even less since he has huge book deals and speaking fees looming after he leaves the White House; after all, Bill Clinton ran not much up to many millions in less than ten years.  Or maybe Democrats don't want to ride that horse just now...)

I will add that the Times article cites General Electric, Honeywell, United Technologies and Cisco among US heavyweights that have caught flak for their dealings with China.  The Obamas hold stakes in all these companies through their index funds and GE chairman Jeffrey Immelt is chair of Obama's job council, so pass the smelling salts.

Leaving us where?  After we recover from the outrage that a wealthy man has investments all over the world, including China, and the shock that our Presidents mutual funds include large, well known companies, perhaps we can move on.

BUT BEFORE WE DO...  Think Progress inflates this non-story a bit - who can spot the hype?

The New York Times revealed yesterday that a Bain-run fund in which a Romney family blind trust had holdings purchased Uniview Technologies in December, a Chinese company that claims to be the biggest supplier of surveillance cameras to the Chinese government.

Wrong.  Uniview claims to be the largest supplier to the Chinese "Safe Cities" program; deep in the article we learn that their market share is, well, not very much:

According to the British firm IMS Research, the Chinese market for security camera networks was $2.5 billion last year, a figure that is expected to double by 2015, with more than two-thirds of that demand coming from the government. Uniview currently has just 1 percent of the market, the firm said.

Hmm - if Uniview has a 1% market share either there are a lot of companies or some are bigger. And I am intrigued by this formulation in the Times lead:

BEIJING — As the Chinese government forges ahead on a multibillion-dollar effort to blanket the country with surveillance cameras, one American company stands to profit...

Do they really mean that only one American company is involved in this market?  Or do they mean that one company of special interest to them is involved?  Can anyone run that down?

 

Comments

[centralcal]

Perfect headline, TomM!

[Threadkiller]

I hear you, sister...

http://times247.com/articles/forgerygate-ignoring-arpaio-s-report-is-a-scandal-in-itself

[Gus]

FAST and FURIOUS.

Discuss.

[Sara]

Is this why Sandra Fluke went public?

Where's Verner when you need her? This Fluke is getting as complicated as tracking the VIPS connections.

[Sara]

From Facebook:

Emily Miller
George Clooney paid $100 to post bail in DC. It cost me $465 to register a gun. It's cheaper to be a criminal in this city.

[Sara]

Sounds pretty strained to me:

ENDORSEMENT: Chicago Tribune

"Presidential primaries are not for electing. They're for nominating candidates who, by talent and temperament, are qualified to lead and inspire all Americans. Romney is the least polarizing candidate in today's Republican field. He projects maturity and calm. He's fit to apply conservative ideals to the messy business of governing."

[Ben Franklin]

Heh. This, and yet no one is talking about Romney's Doomsday Prepper bunker in the basement of his La Jolla home. Isn't it some kind of fatwah for Mormons to have a minimum of 1 year supply of dehydrated food and a million rounds of ammo?

I mean, just in case he's not elected...

[Rick Ballard]

The President sends his money to T. Rowe Price to invest for him while giving your money and my money to High Speed Choo-Choo Chu to pass through to Solyndra and Fisker.

I vote to put a surveillance camera on the President 24-7 until we run him out of office.

[Gus]

Obama was dead broke and in hock driving a V-8 and mortgaged to the hilt. UNTIL Ayers wrote his book.

[Bill in AZ sez it's time for Obama/Holder murder trial in Mexico]

Just had a great meetup with Mel - but three simultaneous SAR missions have hit all at once this afternoon. Will have to catch up later...

[Tonto]

Just when you hope you've seen it all ...

[Danube of Thought]

With the exception of The Washington Times, however, no major U.S. media outlet reported this bombshell story.

Not a lot of minor ones did, either.

File charges, Sheriff Joe, or shut up.

[Ignatz]

No linky, keemosabe.

[Tonto]

Maybe this link will work?

[Ben Franklin]

" It cost me $465 to register a gun."

Where do you live, Sara? Are you including the cost of firearm?

[pagar]

Don't know if the Times will have time to investigate whether Uniview has any competitors because they are apparently all wee-weed up about a conservative judge possibly being elected.

http://www.nytimes.com/2012/03/16/opinion/no-way-to-choose-a-judge.html?pagewanted=all

Those at the Times must live in mortal fear of the 10 Commandments coming into their lives.

[Ben Franklin]

Pravda is reporting the story, TK.

Waiting for Granma International to pick it up.

[narciso]

Well that's not so bad, but Spencer 'Insider
Trading' Bachus, also won, mind you, his opponent was suboptimum,

[Charlie (Colorado)]

Where do you live, Sara? Are you including the cost of firearm?

You know, you have a little trouble with reading comprehension. She's quoting Emily Miller, and that's *not* including the cost of the gun, in Washington, DC. As a result of her 10-month continuing series on getting a gun in DC, DC has recently relaxed its laws to be more closely in compliance with the Second Amendment.

[Sara]

Isn't it some kind of fatwah for Mormons to have a minimum of 1 year supply of dehydrated food and a million rounds of ammo?

Ben: It is a year's food storage, usually canned goods that can be rotated on a regular and replacement basis plus water or water treatment supplies. Never heard anything about ammo. Powdered milk is a popular food storage item because it comes in large water-proof plastic buckets and one can live on powdered milk for up to 3 months without significant risk to nutrition/health in an emergency.

[Ben Franklin]

Chaco;

Howzit hanging?

[daddy]

What If They Gave A Scandal And Nobody Came?

Then I suppose we'd never have heard about Monica's blue dress.

(I blame Stephanie's fun story from the previous link:)

KayyyyyyyRooooooo.

MarkO, I'm withholding Happy BirthDay greetings until your Dookies win. No sense in jinxing an ACC Team come Tourney time.

[Sara]

You know, you have a little trouble with reading comprehension. She's quoting Emily Miller, and that's *not* including the cost of the gun, in Washington, DC. As a result of her 10-month continuing series on getting a gun in DC, DC has recently relaxed its laws to be more closely in compliance with the Second Amendment.

"She" is Emily Miller. It was a quote from her FB status. I'm not sure what you are pointing out. I took her comment to be one of pointing out the irony. Did I read it wrong, or did you take my posting it without my own comment, wrong?

[Jane (Bad says Obama sucks)]

Ya know it's pretty clear the laws only apply to white republicans in this country. No one is even investigating the robocall scandal, and lots of others. Obama is turning us into the old Soviet Union or Germany in the early Hitler days.

The constitution is done. There is certainly no equal protection under the law.

What slays me is that people like Ben celebrate that.

[Threadkiller]

Bens attributed the quote to you, Sara. Chaco enlightened Bens.

[Sara]

I like men, but these could change my mind about Jane's request.

[Frau Nachbarin]

Sara, you were perfectly clear. The weekend brings out the worst in trolls all over the internet. Drugs, alcohol, jealousy, and anger management issues all contribute.

Did you take the Charles Murray test mentioned on the last thread? It was fun, but I think it was geared more for men and those who eat out a lot, go to movies and watch popular programs on TV. Just my opinion.

[Ben Franklin]

"Chaco enlightened Bens."

Chaco is enlighten 'light'.

And stop calling me Bens.

[Sara]

Frau: I did. I posted my result, which was 47. I said on the previous thread, I figured it was Idol and knowing who Jimmie Johnson is. Or maybe it was Branson. Mostly I think it is from being a military wife for 30 years and living in the West for over 25 years.

[narciso]

Now of course, they are actually beyond parody, and when they are 'frogmarching'
Piers Morgan out of the studio.

http://newsbusters.org/blogs/tim-graham/2012/03/16/nbc-news-boss-were-accurate-even-handed-and-ethical-unlike-those-murdoch

[Sara]

Ben: I would think that you, living in Earthquake Country, would be quite versed in emergency preparedness. I know that decades before I ever heard of Mormon food storage, I had been well-trained in emergency supplies from my Mother, who grew up in the San Francisco Bay area. We didn't keep a full year, but she was always harping on having a fully stocked cupboard and back then, a fully stocked root cellar including shelves of home canned foods.

When Hurricane Hugo destroyed a good portion of South Carolina, including our home, one of the big calls put out was for paper goods. We did several truck runs full of toilet paper, disposable diapers, and feminine napkins, which we were told they were the most desperate to have, even over food.

[Ben Franklin]

Sara;

My ditty was 'tongue-in-cheek' because I know it is futile to have food and water stores without ammo to protect it.

It is impossible to prepare for every contingency, but i have prepared as much as possible. I

[Danube of Thought]

I didn't take the test because I never saw a link to it.

So the day before the Madness began I sent my buddy a one-sentence message: "Keep your eye on Missouri."

[narciso]

Calls to Fluke are important, but these are superfluous;

http://hotair.com/archives/2012/03/16/video-one-year-later-zapata-family-gets-no-answers-on-fast-and-furious/

[narciso]

It's on Jane's You Too link, Danube.

[Sara]

That's okay DOT. You probably would have gotten about a 10 or less.

[Sara]

My ditty was 'tongue-in-cheek' because I know it is futile to have food and water stores without ammo to protect it.

Oh okay. Can't disagree with you.

[Captain Hate]

Calls to Fluke are important, but these are superfluous

I'm sure the family wants to praise Stedman for all the other things he does as AG that Issa and the rest of the meanies don't give him credit for. Btw I'm shocked that Anderson Cooper is staying on that story; I hope the social invitations don't start getting lost in the mail.

[Jane (Bad says Obama sucks)]

No it's not. I tweeted it and someone posted it in the last thread.

[narciso]

A kind of outre cartoon on PW reminded me, that there are people stupider than Duke and Duke, some long shot congressional candidate,
Farias somebody, did an ad against Darling
Debbie, not showcasing her 'unique brain patterns' but photoshopping her in a dog collar,

[Frau Nachbarin]

Sara, I knew you would score "up there." I didn't do well on the military. I did choose Branson,MO, never worked as a hod carrier but earned my varicosities as a waitress from high school through college.

[narciso]

It must be those multiple layers of fax checkers,

http://gizmodo.com/5893998/this-american-lifes-damning-foxconn-report-was-mostly-made-up

[Frau Nachbarin]

Sara, here's "back atcha" for your 7:40.

[narciso]

'Stupid is as stupid does, Dave;

http://mixergy.com/david-friend-carbonite-interview/

[Ben Franklin]

henry?

This is tragic...

http://www.twincities.com/wisconsin/ci_20189466/wisconsin-gop-senator-resigns-deal-family-issues?source=rss

[centralcal]

Gack, Frau. Please post a warning in all CAPS before posting those kinds of pictures. lol.

[narciso]

I see this as a badge of honor, myself;

http://weaselzippers.us/2012/03/16/al-qaeda-no-fans-of-fox-news-falls-into-the-abyss-and-lacks-objectivity/

[Thomas Collins]

Any Norfolk State JOMers out there? For anyone wondering about my query, see LUN.

[Thomas Collins]

Any Norfolk State JOMers out there? For anyone wondering about my query, see LUN.

[Sara]

I just watched a video of Mitt and Ann in Puerto Rico. They do love them there. Two things that stood out: Ann said that Puerto Ricans have taught the Romneys how to paaahrtee!! And their President said that Mitt understands that English is the language of business but that Spanish is the language of their prayers with their children at night and in their churches. Folks, this is called "connecting" with the people.

[narciso]

It's an old pic, but it's a bit of an antidote, to some of the earlier ones;

[Captain Hate]

I think the only other time Clenis and Muffer were that close the ugly duckling was hatched.

[Sara]

Frau: I think all these pics prove my Dad was right when he said that no male over 25 should ever go shirtless in public. That said, for a man who turned 65 a couple of days ago, I do think Romney looks in the best shape, even if I do think Gingrich has the best hair.

[Danube of Thought]

I got a 26.

[narciso]

Ah from the folks behind the genius of Rock Center and the Chelsea show,;

http://www.mediabistro.com/tvnewser/katie-sets-premiere-date-unveils-new-logo_b116428

[Clarice]

A super special Steyn
http://news.investors.com/article/604640/201203161846/obama-botches-history-in-defending-his-record.htm?fb_ref=bottom&fb_source=home_multiline

[narciso]

You know it's interesting how they sometimes can't keep their lies straight,

http://www.politico.com/blogs/burns-haberman/2012/03/the-schmidt-memos-117688.html#.T2NrvpZPYTg.twitter

[Donald]

Gabe Knutson!

[Ben Franklin]

Ig;

Stop distracting us with cheesecake. If you want to help with morale, ask Frau to post a pic of her in her wool underwear.

[Jack is Back!]

I don't know how many upsets my brackets can take. Duke down to Lehigh and Michigan down to Ohio, Yikes.

[DrJ]

Iggie,

Now you did it. The Instalanche for this thread undoubtedly is a consequence of your pictures.

[Gus]

Ignatz, that pic of Rodham and Clinton. Far more offensive than anything you ever posted.
Including the Australian/Somalian.

[Thomas Collins]

No way, DrJ. Like Playboy, JOM is read for the articles.

[Gus]

Oh Dear Ignatz. I was too late.

[centralcal]

Iggy: I am just thankful and grateful that you chose to post those (PDT) after work hours!!!!! grin.

Really - my monitors (both large) are the first things clients see when they exit my boss's office. Now, at home, it is only my eyeballs!

Thanks, sweetie, for waiting until this hour to post those.

As for Bill and Hill - there is NEVER a good time. eyeroll.

[henry]

Dana, that is certainly bad news for Sen Galloway. My prayers go out to her and her family. On the politics, the WI Senate is not scheduled to do anything until after the Nov elections. Given redistricting control is not likely to change.

[Ignatz]

--Iggy: I am just thankful and grateful that you chose to post those (PDT) after work hours!!!!! grin.--

I will only do so from now on and only very sporadically, cc.
The link thing wasn't working, but no more T&A tsunamis either.
What are you doing wasting your employers' extremely well compensated time on such trivialities anyway, my dear? :)

[narciso]

Recall when that pic surfaced, right before the Lewinski brouhaha bubbled up.

[narciso]

Al right, who was the rocket surgeon. who thought Rosie O'Donnell would be the flagship
of the Oprah network, of course who thought the Oprah network was so smart an idea in the first place.

[Captain Hate]

Lehigh with the upset; I think their cheerleaders are gonna hit the all-you-can-eat buffet to celebrate. Condolences to Mark.

[Clarice]

I know you are really grieving about that, narciso. Me too.

[narciso]

Does the schadenfreude come through too much,

[Jack is Back!]

Look out your window to the Northwest and see Venus and Jupiter dating each other. Sky porn.

So, after tonight how is everyone's bracket doing?:)

[Captain Hate]

My brackets are slattered but I've actually gained ground in my group's pool.

[DrJ]

See something in the sky? Not here. We have flood advisories in all the counties around here. Lots and lots of rain. And clouds.

[narciso]

What were the odds that Lehign not to mention
the other team, would come up so soon, Captain .

[Captain Hate]

narc the odds were a lot slimmer than Lehigh's cheerleaders.

[Gus]

Wisconsin beats Vanderbilt.
Marquette whips Murray State.

Gus celebrates with a cold Pabst Blue Ribbon, corned beef, cabbage, red potatoes and soda bread.

Discuss.

[Gus]

Okay, I'll have a Guinness or a Murphy's, instead of a Pabst.

[hit and run]

Just watched the Duke game with a UNC grad/fan. I can't say I wasn't rooting for them just to piss him off.

Can't say I'm displeased that they lost either.

All in all a good night to hold court on the March Madness is for sissies meme. I love doing that here in NC (and everyone loves me for it!).

Oh,and my bracket?

Sturdy

[Jack is Back!]

Gus,

If only I could get a Rheingold, the last beer I ever drank.

Lehigh and Ohio win. If there is anyone here who had those two winning? If so, make yourself known and I will give you a silver feather.

[narciso]

Could they be a little more hacktastic, for every good move on Fast and Furious they do something like this;

http://theothermccain.com/2012/03/15/pornographic-politics-did-the-daily-caller-pull-a-media-matters-on-rick-santorum/

[hit and run]

Mostly I was rooting for the Dukesters because it's MarkO's birthday.

Which might make their loss my fault.

I'm willing to shoulder that burden.

[narciso]

No wonder he is so Untergang,

[Frau Steingehirn]

Gruss Gott, Chaco!

[fdcol63]

FSU won. Woo-hoo!

[Threadkiller]

Any weather reports from So Cal?

[Charlie (Colorado)]

Did I read it wrong, or did you take my posting it without my own comment, wrong?

Uh, Sara, did you notice who I quoted before responding? It wasn't actually you. I was actually defending your post.

Damned retrograde mercury anyway.

[Rich K]

Nice job of staying on topic people,,NOT!

[Gus]

We all need to root for Wisconsin and Marquette tomorrow.
It's just the proper thing to do.

[narciso]

On topic, shirley you can't be serious, well I tried for a bit.

[MarkO]

I ventured out to my daughter's dance concert, with Duke 2 up on some team seeded 15. In the course of the concert, Duke got exactly what it has deserved the entire year. It has freed up my weekends. My son texted me, "some present," but this team was no present to any seasoned Duke fan. There is a mystery here.

Thanks again for the kind wishes.

[Captain Hate]

I was actually defending your post.

Yeah I was pretty confused by the reaction.

[Charlie (Colorado)]

Gruss Gott, Chaco!

Ausgezeichnet! Ein Hüb'schæ Mäd'le!

[Gus]

So we've all agreed!!! Wisconsin and Marquette get all our best wishes, hopes and joo joo tomorrow??

[hit and run]

Nice job of staying on topic people,,NOT!

Your post,,was no more on topic,,than a pic of some young thing,,grabbing a bush.

But,,if you'd like to make an on topic post,,nobody's stopping you.......

Do you have something,,on topic worth saying?

[Ignatz]

Marquette always gets my sentimental support in honor of Al.

[hit and run]

On Topic: The Bill in AZ and Melinda meetup needs more elaboration.

[Susanne]

JIB,
I had both Ohio and Lehigh. Woot!
I also had Missouri....

[Frau Steingehirn]

I understood Sara's and Chaco's comments. Maybe all the pre-St.Paddy's Day celebrating is clouding some usually sharp minds.

henry - what's the feeling about Gov. Walker's ability to withstand the union hordes? WI citizens could always swap for our retread supreme Gov. Moonbean. He loves unions and tax increases. CA teachers have no complaints.