From 1984-98, Mitt Romney worked for Bain Capital. There were 77 companies involved with Bain during that time, and some failed, some sputtered, but multiple others were raging successes. Here is a sample of where the Romney wealth came from.
Staples only had one store when Bain invested. Romney sat on Staples' board for 15 years after Bain invested in it, according to former Staples CEO Thomas Stemburg. Now the company employs 90,000 people.
Stemberg also said on Fox News that Romney is "the single best corporate director I ever worked with."
A steel making company that first dealt with Bain Capital in 1994.
Steel Dynamics went public in 1996, and still is in business today.
Source: Wall Street Journal
Bain Capital invested $1 billion into Domino's in 1998, according to the New York Times.
Now Domino's has 9000 stores.
Bain did very well with the circuit board makers DDi, nearly quadrupling its initial investment in a few years, according to the Wall Street Journal.
The Journal reported that after Romney left, Bain merged DDi with another company and then gradually sold its DDi stock.
Romney personally sold $4.3 million of DDi stock in May 2001.
In the early 2000s, DDi experienced a drop in sales and cut its work force, according to the Wall St. Journal. DDi defaulted on some loans when Bain still had some control over the company. But DDi emerged from bankruptcy and is still doing business today. In fact, DDi's website says that the company acquired another company called Coretec Inc. in 2010.
James H. Furneaux, venture colleague of Romney from another company wrote to the Boston Globe that Mitt Romney recruited the founding team of Bright Horizons, a childcare company, and was heavily involved in the early strategy of the company.
Bright Horizons flourished and still flourishes today, with 800 child care centers and 19,000 employees. In fact, the Boston Globe called Family Horizons the number one place to work in their "Globe’s Top Places to Work" survey.
Sports Authority was also quite small when Bain became involved. By 2006, Sports Authority had over 14,000 employees, according to American.com.
In 1995 Bain Capital invested $6.4 million in specialty contact lens maker Wesley Jessen VisionCare.
The Wall St. Journal reported that the investment yielded a gain of more than $300 million.
The New York Times reported that in 2000, Ciba Vision Corporation bought Wesley Jessen for $758 million.
Bain Capital invested in Stage Stores in 1988, and Stage went public in 1996, with 9,606 employees. BY 1999, the company employed 15,700 people. Bain received excellent returns.
Employment dropped back down when the company went into chapter 11 bankruptcy in 2000. But Stage eventually recovered and now employs 13,500 people, according to American.com.
Bain Investment: $17.1 million.
Estimated Gains: $372.6 million.
Source: The Wall Street Journal
Bain Investment: $5.1 million
Estimated Gains: $102.1 million.
Source: Wall Street Journal
Bain's dealings here are controversial. Even though American Pad and Paper (Ampad) went bankrupt, Bain was able to walk away with huge gains, according to the Boston Globe. Some have also criticized Bain's management fees to Ampad at the time.
Ampad still exists, but under a different company.