Mitt Romney Summary

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The biography of Mitt Romney Two author: Kreanish, Michael and Helman, Scott, The real Romney, Harper Collins Publishers, 2012, New York. Mitt Romney (Willard Mitt Romney) is a youngest of two brothers and two sisters of George and Lenore Romney. Mitt Romney is married to Ann Davies together they have five boys. Mitt was born at Harper Hospital in Detroit, Michigan; March 12 1947 is 65 years old self made millionaire through entrepreneurship by his high analytical ability to make profitable decisions as senior consultant in the Bain & Company to co-found the spin-off Private equity investment firm, Bain Capital, in 1984. In there the first success was a 1986 investment to help start Staples Inc. A former supermarket executive, Thomas…show more content…
Few people saw the profit margin potential in selling such homely goods at discount and massive volume. But Stemberg (Owner of Staples In) was convinced and hired an investment banker to help raise money. Romney eventually heard Stenberg’s pitch, and he and his partners dug into Stemberg’s projections. They called lawyers, accountants and scores of business owners in the Boston area to query them on how much they spent on supplies and whether they’d be willing to shop at large new store. The partners initially concluded that Stemberg was overestimating the market. “Look,” Stemberg told Romney, “your mistake is that the guys you called think they know what they spend, but they don’t.” Romney and Bain Capital went back to the businesses and tallied up invoices. Stemberg’s assessment that this was a hidden giant of a market seemed right after all. So Bain Capital invested $650,000 to help Staples open its first store in Brighton, Massachusetts, in May 1986. In all, it invested about $2.5 million in the company. Three years later, in 1989, Staples sold shares to the public, when it was just barely turning a profit, and Bain reaped more than…show more content…
Romney lost as freshman as unknown Politian, but that defeat experience made him better and stronger Politian to lead him to become the 70th Republican Governor of Massachusetts (2003-2007) the State always has been Democratic State. During his tenure as the Governor he accomplished economy revenue to its State by raising special gasoline retailer fee by two cents per gallon lead to $60 million, raising various fees by more than $300 million, including those for driver’s licenses, marriage licenses, and gun licenses. The most significant notable accomplishment as Governor the “Romneycare” one of kind the nation has now the health care requiring nearly all Massachusetts residents to buy health insurance coverage or face escalate tax penalties such as the loss of their personal income tax

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