Buffett gift likely to benefit already profitable Planned Parenthood

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, Jun 28, 2006 / 12:00 am (CNA).- Pro-life groups are concerned about an influx of money to Planned Parenthood Federation after billionaire Warren Buffett announced he would parcel out his fortunes to several foundations with a known record of supporting abortion groups.

Buffett on Monday signed over almost $31 billion of his $44 billion fortune to the Bill & Melinda Gates Foundation, which generally focuses on fighting disease, reducing poverty and improving education.

Buffett, 75, built the world's second biggest personal fortune running Berkshire Hathaway Inc, an insurance and investment company. Bill Gates, the world's richest person, co-founded and remains chairman of software company Microsoft Corp.

According to Reuters, Buffett pledged 10 million Berkshire Class B shares to the Gates Foundation. He also pledged 2.05 million Class B shares to foundations in the name of his late wife, Susan, who died in 2004, and his three children. The Susan Thompson Buffett Foundation has supported Planned Parenthood and other abortion groups.

Fr. Thomas J. Euteneuer, president of Human Life International, issued a statement pointing out Buffett’s track record of supporting pro-abortion organizations and related projects in the developing world.

He reported that Buffett’s foundation also gave a grant to the U.S.-based Center for Reproductive Rights, which fought bans on partial-birth abortion, and Catholics for a Free Choice.

“The Bill & Melinda Gates Foundation have also given millions of dollars to organizations pushing abortion around the world,” Fr. Euteneuer reported.

Several pro-life groups are questioning Planned Parenthood’s need for more funds - as well as its continued petitioning for government funding - given that it had a record year for funding last year.

The Planned Parenthood Federation of America recently released its annual report for 2004-05, which shows that it took in more total money ($882 million), more government money ($272.7 million) and more clinic money ($346.8 million) than ever before.

In addition, the report shows that Planned Parenthood continued to make money last year - $63 million. The additional profits for last year brings the total profits of Planned Parenthood to $649.6 million since 1987. The total net assets of the company are now at $784.1 million - $478.7 million of which are in cash or investments.

Jim Sedlak, the director of STOPP International, a Planned Parenthood watchdog group, compiled data from Planned Parenthood’s annual reports. He said he was surprised the abortion business continued to ask for state and federal taxpayer dollars despite receiving record income from foundations and other groups.

Since 1987, Planned Parenthood has received a total of $3.9 billion in taxpayers' money, Sedlak stated.

Planned Parenthood also set other records last year for the lowest number of women it referred for adoption compared with the number of abortions it performed.

Planned Parenthood performed a record number of abortions - 255,015. The annual report shows it performed 180 abortions for every one woman it sent to an adoption agency.

Comments: 8

Subscriber comments:

Published by: tom green
england 07/04/2006 04:41 PM EST

"woe to anyone who harms one of these, my little ones...."

Published by: Kris
Wisconsin 07/01/2006 03:06 PM EST

Truly Mr. Buffet is the poorest man alive. What a shame that after all these years and experiences that he has gained so little wisdom.

Published by: Michael J. Hunt
Greenville, NC 06/30/2006 09:46 AM EST

Reminds me of what Ebeneezer Scrooge would say before his conversion: "Reduce the surface population!"

May God show him the way before he assumes room temperature.
AMDG

Published by: Scot
Illinois 06/29/2006 11:35 AM EST

It seems that these two men are completing what Margaret Sanger tried to bring about...the eradication of minorities through contraception. They will kill the minorities who have the greatest faith system...I still say they are doing this with the idea they will save the world and that job has already been filled.

Published by: Dan Auer
Clumbus OH 06/29/2006 07:30 AM EST

All the good this money could have done!
Funny thing is that last year when the Netjets (Berkshire subsidiary)pilots wanted to strike for more money, he cried poverty to the gov't and they invoked and 80+yr old railroad regulation to stop it.

Published by: an nguyen
10900 Westminster suite 10, Garden Grove, Ca 92843 06/28/2006 08:31 PM EST

excellent I respect him very hightly God Bless you, Mr. Buffett

Published by: Jim
Port Orange/FL/USA 06/28/2006 08:02 PM EST

Jesus, please lift up some one to stop the bleeding. So many are being lost; so many are won over by the culture of death with nary a public voice loud enough to make the difference. Thank God for men like Father Thomas J. Euteneuer, and the Priests for Life and the likes of people like these men. Please, let this be my plea. Hosanna! We are on our knees defeated by your enemies. Reveal your power Lord and help us to fight for life so the present world can know you and desire to come home.

Published by: Mike McCaffrey
Yarmouthport, MA 02675 06/28/2006 11:33 AM EST

This is a tragic misuse of philanthropy. It is also tragic that the church has no influence in this otherwise generous act of Mr. Buffett. Perhaps there can be counter-proposals submitted and appeals from church prelates. At least there can be efforts to minimize the damage to be done. I don't think it will help to issue press releases scolding and belittling these well-meaning efforts to help the poor and disenfranchised.

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