Ace
Ace of Spades HQ
10/25/2012
Romney didn’t testify at her divorce — there was no hearing on it.
Rather, he testified in 1991, when the Former Mrs. Stemberg sought to re-litigate her original settlement. Romney was called in to talk about the value of the 500,000 shares in Staples she received. Or Stemberg’s net worth. Something like that.
Her theory was that Stemberg had put up Romney to deliberately lowball the value of Staples. Like I’ve noted, this makes no sense — if Staples stock isn’t worth all that much, than The Former Mrs. Stemberg’s shares from the settlement are worth less, and that increases the chances a judge would agree that the original settlement was unfair, and put it aside.
But whatever. Her claim rests on the idea that Romney knew Staples would grow in value, but lied about.
Here’s the problem: As an initial investor, Romney had the option to buy a lot of Staples stock. If he really thought Staples were a surefire hit, he’d have exercised all those options, and bought as much stock as he was legally entitled to.
He didn’t. He said Staples could grow, or could fail, because, apparently, he believed it could grow, or could fail. Thus he hedged his own bets, buying some Staples stock, but not as much as he was entitled to…
…As Powerline says, what this has to do with Mitt Romney remains something of a mystery.
By The Way: I’m suuuuure this is nothing — like, totes sure — but Gloria Allred met privately with Barack Obama two weeks ago.
The Endless Divorce: And I do mean endless.
As I said, this divorce is now celebrating its silver anniversary — its 25th anniversary — and is as passionate as ever…
…Tom Stemberg was granted a divorce on grounds of “cruel and abusive treatment,” incidentally…
Read the whole thing at Ace of Spades HQ
