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Business

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Governor Mitt Romney and Business

 

  • The best minds are not in government. If any were, Business would hire them away.
    • Ronald Reagan

 

In The News

 

Business related Press Releases

 

2006

 

2005

 

2004

 

2003

 

Business Questions for Governor Mitt Romney

  1. Brian Lamb
    1. What does Bain do?
    2. what impact did you have on the creation of Staples?
    3. how old were you when the Staples thing started?
    4. What other boards have you served on?
    5. Have you had a failure that you can talk about in business?

 

Business Incubation

 

Prior to his Olympic service, Mitt Romney enjoyed a successful career helping businesses grow and improve their operations. From 1978 to 1984, Mr. Romney was a Vice President at Bain & Company, Inc., a leading management consulting firm. In 1984, Romney founded Bain Capital, one of the nation's most successful venture capital and investment companies. Bain Capital helped launch hundreds of companies on a successful course, including Staples, Bright Horizons Family Solutions, Domino's Pizza, Sealy, Brookstone, and The Sports Authority. He was asked to return to Bain & Company as CEO several years later in order to lead a financial restructuring of the organization. Today, Bain & Company employs more than 2,000 people in 25 offices worldwide.

 

An Extraordinary Business Leader

 

  • Mitt Romney did better in Business than any of the other candidates, Republican or Democrat.
  • The first thing you will notice about him is that he is a good business manager, more than he is a politician. A lot of us think that the government should be more like a business, and less political.
  • Member of the Board of Marriott Hotels
  • Member of the Board of Staples

 

From the Life of Governor Mitt Romney

 

  • Governor Mitt Romney was one of the nation’s most influential businessmen during the 80’s and 90’s. Invested in and/or acquired Staples, Dominos, Sealy and Sports Authority (among others) while CEO of Bain Capital.

 

  • Prior to being elected governor, Romney was a cofounder and managing partner of Bain Capital, a Boston private equity firm.

 

  • From 1978 to 1984, Romney was a Vice President of Bain & Company, Inc., a Boston-based management consulting firm. Later, as the company's CEO, he led it through a highly successful turnaround . Today, Bain & Company has 32 offices in 20 countries and over 2400 employees.

 

  • In 1984, Romney co-founded Bain Capital, one of the nation's most successful venture capital investment companies. Among the first companies it invested in was Staples, an office-supply store. In 1986 Staples, Inc., had one store. Today it has nearly 1,700. Bain Capital founded, acquired or invested in hundreds of companies including Bright Horizons Family Solutions, Brookstone, Domino's, Sealy and The Sports Authority.

 

 

  • “Massachusetts is one of the most attractive states in the nation in which to do Business because of our tremendous resources. We have a highly educated workforce, some of the world’s finest health care institutions and top-of-the-line infrastructure. “Now, we need to do a better job of getting the word out.”

 

Governor Mitt Romney Business Quotes

 

2003

  • “As tough as our problems are, we have enormous potential in Massachusetts—a diverse Economy, a highly-educated workforce and major academic and research institutions. We need the right agenda to unleash the power of these resources.”
  • “Today, we remember and recognize a true entrepreneur. The establishment of this award will help us show our appreciation to the individuals who contribute to our Economy and generate new wealth, prosperity and jobs.”
  • “Each month, we will present this award to an individual who, like Bernie Goldhirsh, uses innovation and drive to grow small ideas into the businesses that make Massachusetts the leader we are.”
  • “Obviously, you faced a choice. You could have remained in Ohio, or moved to any of the other 49 states. Instead, you came to Massachusetts. We have the people, the capital and the technology market. But of course, you know all that. That’s why you came here.”
    • Governor Mitt Romney, 07-18-2003 Press Release
      • Romney told company officials at a welcoming ceremony.
  • “Today, we recognize entrepreneurs truly innovative company. Honoring Zipcar with this award shows our appreciation and value for entrepreneurs who contribute to our Economy and generate new wealth, prosperity and jobs.”
  • “We need to make sure we have the best available information about the state of our Economy. The findings from this survey will help us to identify the competitive strengths and weaknesses of each region, which will help guide our efforts to improve the Economy so that we can have more jobs.”
  • "The Massachusetts Business Corporation Act and the Uniform Electronic Transactions Act will make it much simpler to conduct private sector transactions in the Commonwealth.”
  • "These bills represent an important piece of housekeeping for the state’s Business community, one that will allow our state to keep pace with new technology and other changes taking place in the world.”
  • “We established this award to acknowledge and celebrate some of the state’s most innovative companies as well as to highlight the creative entrepreneurs who are helping to drive economic growth here in the Commonwealth.”
  • “The story of Yankee Candle is a reminder that you don’t need to manufacture a cutting edge product to be innovative, exciting and extremely successful.”

 

2004

  • "Our economic policies are contributing to the improvement in the Massachusetts employment picture, but we still have more work to do. Holding the line on taxes and creating a business-friendly environment will continue to be among our highest priorities.”
  • Romney said Straumann is the kind of innovative technology company that his economic development team is committed to attracting to Massachusetts. “The opening of Straumann’s new $50 million North American headquarters in Andover will bring 160 new manufacturing jobs to the Bay State right away and more than 300 over the next five years.”

 

2005

  • “High health insurance costs are making it impossible for our small Business owners to provide a reasonably priced healthcare plan to their workers,” said Romney, meeting with Rick and Linda DeWolfe, who own DeWolfe and Sons Auto Repair.
  • “We are committed to developing an affordable product for small Business owners who want to do the right thing by their employees, but can’t keep up with the cost,” Romney added.
  • “Small Business is one of the backbones of our Economy. It’s through the initiative and drive of people like Fred Curtis that we are creating jobs and opportunity in Massachusetts.”
  • “Permitting can take up to five years to complete, making it extremely difficult for businesses here to expand and add jobs. “If we’re serious about encouraging Business investment and expansion, we have to take a chainsaw to the red tape that ties up the process for years and years.”
  • “Grab your popcorn and soda, because Massachusetts is ready for its close-up.“Movie and television production has increased dramatically over the past 10 years and we want to get a piece of that growth by encouraging producers, directors, and crews to do their jobs right here in the Commonwealth.”

 

Beliefs about Mitt Romney and Business

  1. Mitt Romney is the most pro-business candidate.


 

Other's On Romney's Business Experience

 

If, as consultant he convinced Fortune 100 companies to spread their operations around the globe, might he also be capable of explaining that America’s role in the elaborately layered world marketplace is not easily reduced to snappy campaign slogans and sharply defined solutions?

 

Multi-national Business strategies are as fraught with Machiavellian agendas and sinkholes as highly nuanced international trade agreements. The better the leader’s grasp of arcane practices of the capital markets, the more effective he will likely be making the balanced, thoughtful and pragmatic “lesser of evils” choices.

 

It is not just his friends who say Romney has a formidable grasp of critical, but unheralded quality of life and economic issues. One self-described “occasional socialist,” a Massachusetts healthcare expert, explains it this way: “Romney’s grasp of the arcane procedures of the healthcare delivery and reimbursement system is quite detailed and deep. He knows how the system works and why it often doesn’t. He would be a brainy policy-wonk-of-a-leader - a Bill Clinton without the perpetual hard-on.”

    • By RB Scott, Boston, Massachusetts, May 12, 2007


 

Exterior Links (Also See)

 

 

Quotes from others about Business

 

  • I'll keep it short and sweet: family, religion, and friendship. These are the three demons you must slay if you wish to succeed in business.”
    • Montgomery Burns

 

  • "When two men in Business always agree, one of them is unnecessary."
    • William Wrigley Jr.

 

Lee Iacocca on Governor Mitt Romney

 

Jim Cramer: Romney "Best Business Man In North America"

“He’s the best businessman in North America, and that’s how you should think of him!”

“Romney is a guy who would say…we’re going to be a growth nation again! Romney is the guy who favors growth!”

“Romney understands business, he understands taxes, he understand capital creation!”

 

 

 

Friday, Sep 07, 2007

Governor Mitt Romney

CNBC's "Street Signs"

September 7, 2007

 

Governor Mitt Romney: "But I do believe that you have to have somebody who has experience leading and managing and guiding a large institution. I spent my life, first of all, in the private sector. I'm not a life-long politician. Then I became involved in the Olympics and helped run those Games and turned them around and then I went to Massachusetts as a Governor and helped lead a large entity there. And I think you need to have that experience in leadership and management if you're going to manage the largest enterprise in the world through some very difficult times. And frankly, it would be helpful to have people who understand how the economy works. How jobs are created and how jobs are lost.

 

"I think I'm the only guy - I may be wrong here - but I think I'm the only guy on either side of the aisle running for president who has extensive life experience in the private sector, and we're going to have to have a strong economy and job growth in this country if we're going to remain the superpower of the world."

 

Wall Street Journal's John Harwood: "And, Governor, what's the policy difference, though, that people can look at and say, he's on the right track, the others are not?"

 

Governor Romney: "Well, a couple of things. We talked about immigration the other night and there's a big difference between us there. I think Mayor Giuliani and Senator McCain are wrong in saying that all those that have come here illegally, unless they committed a crime, should be able to stay. I think that's a mistake.

 

"But there are other places of difference. One is my tax plan. I believe that middle-income Americans, and that's $200,000 and less per household, should be able to save their money, tax-free. I think we should encourage the development of a savings mentality in this country among our citizens that allows people to be able to buy homes with a good down payment that they save money for and pay for college. These kinds of incentives for saving is something, are something that I think distinguishes us."

 

Julian Robertston On Gov. Romney

 

Julian Robertson, founder of the Robertson Scholars Program, discusses Gov. Romney with CNBC's Erin Burnett.

 

 

 

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