In 1981, Romney founded Bain Capital—the financial arm of the prominent Boston management consulting firm Bain& Co. for whom he previously worked.
Romney put his own substantial funds on the line his unsuccessful 1994 bid for the seat of long-time Massachusets politician Sen. Edward M. “Ted” Kennedy ’54-’56 (D-Mass.).
But Romney’s most acclaimed venture to date had nothing to do with state politics but with his rescue of the 2002 Winter Olympics in Salt Lake City, Utah.
Mired in scandal over bribes recieved by its members, the International Olympic Committee called on Romney to take the helm of the local organizing authority, the Salt Lake Organizing Committee.
At first Romney thought that the taskwas an impossible one, and he refused to take it on.
“Are you crazy? No way. This is insane,” Romney told the Globe.
But after consulting with several close colleagues and freinds, he decided to take the job.
Two years, and $40 million in profits later (with the help of a hefty government bail-out to the tune of several hundred million dollars), the Olympics had shed their gloomy past and $400 million budget deficit, turning into a major sucess.
With this success in his back pocket, Romney has a valid claim to the title of come back king—something which he will not soon let Mass. voters forget.
“I have decided to run for Governor because in this time of fiscal mismanagement, I have the experience and proven track record to lead the Commonwealth back to prosperity,” reads the opening letter on Romney’s website.
On issues, Romney has made few clear remarks, save for his indication that he will support the law which currently allows abortion in Mass.
This stance represents an important compromise between the generally conservative stance of the Church of Latter Day Saints, of which Romney is a member, and the beliefs of the primarily pro-choice Commonwealth.
Democrats: The Big Five
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