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The firm's first significant success was a 1986 investment to help start Staples Inc., after founder Thomas G.
Stemberg convinced Romney of the market size for office supplies and Romney convinced others; Bain Capital eventually reaped a nearly sevenfold return on its investment, and Romney sat on the Staples board of directors for over a decade.
Romney served on the board of directors of Damon Corporation, a medical testing company later found guilty of defrauding the government; Bain Capital tripled its investment before selling off the company, and the fraud was discovered by the new owners (Romney was never implicated).
Exactly how many jobs Bain Capital added compared to those lost because of these investments and buyouts is unknown, owing to a lack of records and Bain Capital's penchant for privacy on behalf of itself and its investors.
He married Ann Davies in 1969, and they have five sons.
By 1971, he had participated in the political campaigns of both parents.
The popular vote between the two major-party nominees was 51%–47% in Obama's favor.The couple married on March 21, 1969, in a civil ceremony in Bloomfield Hills and on the following day, they flew to Utah for a Mormon wedding ceremony at the Salt Lake Temple; Ann had converted to the faith while he was away.Mitt had missed much of the tumultuous anti-Vietnam War movement in America while away in France.Active in The Church of Jesus Christ of Latter-day Saints (LDS Church) throughout his adult life, he served as the bishop of his ward (head of his local congregation) and then as stake president near Boston. After losing to longtime incumbent Ted Kennedy, he resumed his position at Bain Capital.After stepping down from Bain Capital and his local leadership role in the LDS Church, Romney ran as the Republican candidate in the 1994 Massachusetts election for U. Years later, a successful stint as President and CEO of the then-struggling Salt Lake Organizing Committee for the 2002 Winter Olympics led to a relaunch of his political career.