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What You May Not Know About Mitt Romney

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Monday, December 10, 2007


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1.Romney isn't shy about boasting about the billions he helped make for his equity firm Bain Capital over the years. But he's less known for the time he shuttered the firm in 1996 for a few days and lost millions in potential earnings. The reason: The 14-year-old daughter of one of his partners had gone missing after attending a rave party in New York. The firm's employees went into action, forming a search team and using their connections to generate publicity. Soon, a fellow partygoer who saw news reports about the search called police to say that the girl was safe at a friend's house in suburban New Jersey.

2. Romney continues to profit from Bain Capital's activities, earning millions annually in investment returns years after he left to pursue politics. The equity firm recently attracted attention by joining with a Chinese company, Huawei Technologies, to buy U.S. computer manufacturer 3Com. Because 3Com supplies equipment to sensitive government agencies, the deal has raised national security concerns in Congress and the executive branch. Bain has emphasized that the Chinese company is a minority investor and will have no operational control.

3. When Romney moved his family from Massachusetts to Utah in 1999 to take over the struggling 2002 Winter Olympics, his wife, Ann, was still trying to recover from a serious bout with multiple sclerosis. To give herself a new focus, she took up the competitive sport of dressage, in which horses and their riders perform a series of gymnastic routines. In a little less than seven years later, she won the gold medal in the event at the U.S. Dressage Federation Grand Prix competition.

4. One of Romney's early acts as Massachusetts governor was to cut the number of press secretaries in state government from 60 to fewer than 30 to address a budget deficit. He fired 21 of the communications employees and shifted 11 others to non-press jobs.

-- John Solomon

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