How Mitt Romney Helped Monsanto Take Over the WorldSubmitted by Maeve on Sat, 09/15/2012 - 18:14
"How did Monsanto pivot from teetering, scandal-ridden chemical giant to mighty high-tech (though still quite controversial) agribiz firm? As the veteran investigative reporter (and Mother Jones contributor) Wayne Barrett shows in a new Nation article, a young consultant called Mitt Romney helped push the firm on its highly lucrative new path. Monsanto first tapped the consulting services of the Boston-based consulting firm Bain in 1973, the same year Bain launched. When Romney joined Bain fresh out of Harvard in 1977, he quickly began working with the ailing chemical firm. Here's Barrett:
Dr. Earl Beaver, who was Monsanto's waste director during the Bain period, says that Bain was certainly "aware" of the "PCB and dioxin scandals" because they created "a negative public perception that was costing the company money." So Bain recommended focusing "on the businesses that didn't have those perceptions," Beaver recalls, starting with "life science products that were biologically based," including genetically engineered crops, as well as Roundup, the hugely profitable weed-killer. "These were the products that Bain gave their go-ahead to," Beaver contends, noting that Romney was a key player, "reviewing the data collected by other people and developing alternatives," talking mostly to "the higher muckety-mucks."
In other words, Romney and Bain played crucial roles in shaping Monsanto's strategy of selling off big chunks of its legacy chemical businesses and reinventing itself as ag-biotech firm."