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| Re: Some facts about Mitt Romney (946978) | |||
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Re: Some facts about Mitt Romney |
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Posted by Fred G on Mon Jun 4 23:21:23 2012, in response to Re: Some facts about Mitt Romney, posted by Dave on Mon Jun 4 23:12:47 2012. Quite a different account there, Dave. You made it sound like Bain and Romney helped create Staples, not just invested in them.Before Staples opened its first office-supply store, the company's founder, Thomas G. Stemberg, went to Bain for help. Stemberg told Romney that companies were spending more on office supplies than they thought. Romney had his associates do a survey of office managers, then checked the figures against invoices, and found that Stemberg was right. Romney agreed to put $600,000 of Bain Capital money into the new venture, and within a few years, he had made back eight times his money while contributing to the launch of a successful national company. I found it funny that Sternberg didn't make it sound like any of that happened in that 2002 article. I'm sure Bain invested in Staples but I think Romney is putting some extra mustard on the hot dog here :) your pal, Fred |
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