Romney Agreed To Run Bain Capital After Negotiating Terms So There Wouldn't Be Any Financial Or Professional Risk.
"So Bain sweetened the offer. He guaranteed that if the experiment failed, Romney would get his old job and salary back, plus any raises handed out during his absence. Romney had one more concern: the impact on his reputation should he prove unable to do the job. In the end, Bain agreed to craft a cover story if necessary, promising to bring Romney back to the consulting firm and explain Romney's return as a matter of his being more valuable to Bain as a consultant. 'So,' Bain says, 'there was no professional or financial risk.'" [Boston Globe, 6/26/07]
Bill Bain: "All The Risk And Investment Was Basically On My Side. I Was Clearly Putting My Neck On The Line And The Company On The Line.'" [Boston Globe, 6/4/07]
Romney Has Since Referred To Bain Capital As "The Company That I Started."
"'The investments for the company that I started, Bain Capital, came largely from Latin America,' Romney said." [Salt Lake Tribune, 8/6/07]
Although Romney Claims That He Started In A "Small Business," Bain Capital Was Launched With $40 Million.
"Although he often tells crowds that he started in a 'small business,' the company began with an initial fund of $40 million and eventually controlled billions in assets." [New York Times, 5/12/07]
Bill Bain Took The Lead In Raising The Money.
"Mr. Bain took the lead in raising money from his partners and rich friends, including Mortimer B. Zuckerman, the Boston real estate mogul, and Robert K. Kraft, owner of the New England Patriots football team. But he always took Mr. Romney along to help seal the deal. The younger man would stand in front of a string of skeptical multimillionaires, flipping overhead projector slides that highlighted Bain Capital's plans, honing the knack for opening wallets that would help him become the top Republican presidential fund-raiser this year." [New York Times, 6/4/07]