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Romney set up a system in which any partner could veto one of these potential opportunities, and he personally saw so many weaknesses that few venture capital investments were approved in the initial two years.
My job was to try and make the enterprise successful, and in my view the best security a family can have is that the business they work for is strong." He oversaw an effort to restructure Bain & Company's employee stock-ownership plan and real-estate deals, while rallying the firm's one thousand employees, imposing a new governing structure that excluded Bain and the other founding partners from control, and increasing fiscal transparency.
Romney kept a low profile for a while after the election, but later became more visible politically. Romney attended public elementary schools until the seventh grade, when he enrolled as one of only a few Mormon students at Cranbrook School, a private upscale boys' preparatory school a few miles from his home.
A fifth-generation member of The Church of Jesus Christ of Latter-day Saints (LDS Church), he is a great grandson of Miles Park Romney and a great-great-grandson of Miles Romney, who converted to the faith in its first decade. As opposition to United States involvement in the Vietnam War grew, a group staged a May 1966 sit-in at Stanford's administration building to demonstrate against draft status tests; Romney joined a counter-protest against that group.
Mitt had missed much of the tumultuous anti-Vietnam War movement in America while away in France.
Upon his return, he was surprised to learn that his father had joined that same movement during his unsuccessful 1968 presidential campaign.
Later serving as Bain's chief executive officer (CEO), he helped lead the company out of a financial crisis.
In 1984, he co-founded and led the spin-off company Bain Capital, a highly profitable private equity investment firm that became one of the largest of its kind in the nation.George was now serving in President Richard Nixon's cabinet as United States Secretary of Housing and Urban Development. military draft for the Vietnam War, Romney sought and received two 2-S student deferments, then a 4-D ministerial deferment while living in France as a Mormon missionary.In a June 1970 newspaper profile of children of cabinet members, Mitt said that U. involvement in the war had been misguided – "If it wasn't a political blunder to move into Vietnam, I don't know what is" – but supported Nixon's ongoing Cambodian Incursion as a sincere attempt to bring the war to a conclusion. He later sought and received two additional student deferments.Stemberg convinced Romney of the market size for office supplies and Romney convinced others; Bain Capital eventually reaped a nearly sevenfold return on its investment, and Romney sat on the Staples board of directors for over a decade.Romney soon switched Bain Capital's focus from startups to the relatively new business of leveraged buyouts: buying existing companies with money mostly borrowed from banking institutions using the newly bought companies' assets as collateral, then taking steps to improve the companies' value, and finally selling those companies once their value peaked, usually within a few years.Romney was the Republican Party's nominee for President of the United States in the 2012 election.