Posted on 11/05/2006 4:22:36 PM PST by STARWISE
If you have an IRA or are an investor with American Century Investments, please be aware that the Stowers Family (who own American Century) are mightily involved in the stem cell referendum in Missouri, which will be voted on Tuesday.
They have put up over $29M of their own money to the "Missouri Coalition for Lifesaving Cures" to get this initiative passed, and are holding their Stowers Institute for Medical Research almost as a hostage to this bill. If this initiative does not pass, they're inferring they'll close down their medical research center.
The language of the bill is also deceptive, to wit:
"As for cloning, no one should be surprised to hear that it depends on what one's definition is. By using less-familiar scientific language, supporters of the stem cell initiative effectively have redefined "cloning" to mean only reproductive cloning -- that is, implantation of a lab-created embryo in a woman's womb for the purpose of creating a human being.
While the amendment would ban that procedure, it would allow "somatic cell nuclear transfer," which is the widely accepted scientific definition of "cloning."
Whether one clones an embryo for birth, or clones an embryo for research, a clone is a clone is a clone.
Another controversial piece of the amendment, which is not mentioned in the ballot summary, concerns the sale and purchase of human eggs for stem cell research.
Although the proposed amendment purports to forbid such sales, it includes a loophole: Researchers may obtain eggs from fertility clinics and reimburse for costs that may include thousands paid to egg suppliers for donations.
Bottom line: If the amendment is approved, the Missouri Constitution may protect human egg commerce from future regulation.
Sentient humans are probably wondering why Missouri needs a constitutional amendment for embryonic stem cell research when it is already legal.
Advocates say they're seeking protection from interference in scientific research that is legal; critics say the amendment is to prevent future regulation or legislation that would impede cloning research.
Given the confusing language of the amendment, one can objectively conclude that whatever the intent, voters aren't being dealt a straight hand. The driving force behind the proposed amendment is the Missouri Coalition for Lifesaving Cures, which has raised $30.1 million to push the initiative.
Of that money, the St. Louis Post-Dispatch reports that more than $29 million has come from James and Virginia Stowers, the billionaire founders of the Stowers Institute for Medical Research, a biomedical research company in Kansas City, Mo., that focuses on finding solutions to gene-based diseases.
Money talks, and $29 million can buy a lot of frothy eloquence. But what the ballot promises and what the amendment affirms are not a precise match."
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Further:
It’s not just money that the Stowers are pouring into the campaign.
Their institute has warned that it will not go forward with its 600,000-square-foot expansion if Missouri voters reject the Stem Cell Research and Cures Initiative on Nov. 7, said Connie Farrow, spokeswoman for the Coalition.
“James and Virginia believe that the new frontier is stem cell research,” Farrow said. “They will not make an investment in Missouri if Amendment Two does not pass, if their facility could be shut down.”
Contributions made to the coalition are used to fund television, radio, print and billboard ads as well as an aggressive speakers bureau, Farrow said. The campaign is most concerned with “setting the record straight” for Missourians flooded with information, she said.
James Stowers was diagnosed with cancer in January 1987. Virginia Stowers received her diagnosis in May 1993. The Stowers’ struggle to survive cancer was the motivation for establishing an institute dedicated to basic biomedical research, said Marie Jennings of the Stowers Institute. Their dream was facilitated by the private fortune the Stowers amassed from the success of their investment firm, American Century.
Not everyone sees the Stowers’ donation to the stem cell initiative as commendable.
“It is very interesting that one person is attempting to buy a constitutional amendment and that it is being done in a deceptive way,” said Cathy Ruse, spokeswoman for Missourians Against Human Cloning.
Ruse said that what she sees as a deception is contained in the language of both the amendment and the language that will appear on the ballot. Ruse said the amendment does not outlaw human cloning or the selling of eggs, as proponents of the initiative claim.
The Bioethics Defense Fund took the case to court in January, claiming the language was misleading to voters. They did not win their case.
The Missouri Coalition for Lifesaving Cures has received the most money of all the campaign committees created around the stem cell initiative, according to the Missouri Ethics Commission. Contributions to the coalition are nearly 33 times that received by the opposition.
“When one entity dumps so much money into the process, it does not seem the other side is well represented,” said Carl Landwehr, president of the Vitae Caring Foundation, whose ads argue against the stem cell initiative.
Landwehr said the inequality in funding for campaigns does not lend itself to a free, fair and open debate.
Ruse questions the Stowers’ intent because of what she views as biotech firms’ vested interest in the issue.
“It is important for Missourians to know that one biotech industry is pouring so much money into this cause,” Ruse said. “They are set to gain billions if the initiative passes.”
David Welte, a spokesman for the Stowers, denied accusations that the donation was financially motivated.
Welte said the Stowers support the amendment because it would allow researchers at their institute to work without worrying their efforts would be shut down or criminalized.
Despite the comments of skeptics, Farrow maintains that Missourians are fortunate to have two individuals so willing to invest in what the Stowers say is the future of the state.
The Stowers Institute will remain open in Kansas City regardless of the outcome of the vote. However, according to Jennings, each future campus would be built outside Missouri.
“Embryonic stem cell research is so critical to the ability of the Stowers Institute to become a world-renowned research facility,” Jennings said. “To date, (the Stowers) have never considered another location — they are very much committed to seeing that growth happens in this state if that is at all possible.”
The Stowers obviously would have a financial motive, as the largest contributors, and would hope to gain from trafficking in this deplorable enterprise.
They're a good investment company, but if this amendment passes, I'll move my IRA to another company. I'm not going to be involved with them further.
BUMP and PING to PASS ON! Thank you.
Mods .. I forgot to put this was a "vanity" in the sub-title.
Is it possible for you to add that? Thanks a million.
My American Century investments have done very well.
I hate to move them but I will if after the election, I feel that I should.
Thanks for the heads-up.
Mine, too, Amy ~~ but I'm sickened by this.
Sorry .. here's the link for the second article excerpt:
http://www.columbiamissourian.com/news/story.php?ID=22288
Thank you Starwise -- we have investments with American Century. I'm passing the info on to hubby.
Thanks for the ping!
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