From Deseret News archives:
Romney extraordinary leader
Mitt did not want this job. He was leading the company he founded, Bain Capital, one of the leading private equity firms in the world. He was living in his home community of Boston. It was his wife, Ann, along with several close friends, who encouraged him to move into public service. But once he accepted, he gave it everything he had.
I witnessed how bad things really were. We had a severe financial crisis, horrible morale, no operational plan and were facing a potential indictment from the Justice Department. I had never witnessed a worse situation. Regarding the financial situation, I also served as chief financial officer for two years, so I knew the books inside and out. The financial deficit really was $400 million in spite of the significant revenues already secured. In early 1999, the organization responsible for new sponsorships said that the marketing program was dead. Most potential sponsors and other organizations did not want to associate with us because of the scandal. The challenges were real and deep.
Comments
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103
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