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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 soon switched Bain Capital's focus from startups to the relatively new business of leveraged buyouts: buying existing companies with money mostly borrowed from banking institutions using the newly bought companies' assets as collateral, then taking steps to improve the companies' value, and finally selling those companies once their value peaked, usually within a few years.
Mitt had missed much of the tumultuous anti-Vietnam War movement in America while away in France.
Upon his return, he was surprised to learn that his father had joined that same movement during his unsuccessful 1968 presidential campaign.
It provided near-universal health insurance access through state-level subsidies and individual mandates to purchase insurance.
He also presided over the elimination of a projected $1.2–1.5 billion deficit through a combination of spending cuts, increased fees, and closing corporate tax loopholes. Though he won several primaries and caucuses, the eventual nominee was Senator John Mc Cain.
The popular vote between the two major-party nominees was 51%–47% in Obama's favor. Mike Kennedy to become the Republican nominee in the general election. In 1953, the family moved from Detroit to the affluent suburb of Bloomfield Hills and his father became the chairman and CEO of American Motors the following year and helped the company avoid bankruptcy and return to profitability.
Romney kept a low profile for a while after the election, but later became more visible politically. A fifth-generation member of The Church of Jesus Christ of Latter-day Saints (LDS Church), he is a great grandson of Miles Park Romney and a great-great-grandson of Miles Romney, who converted to the faith in its first decade. Romney attended public elementary schools until the seventh grade, when he enrolled as one of only a few Mormon students at Cranbrook School, a private upscale boys' preparatory school a few miles from his home.
George was now serving in President Richard Nixon's cabinet as United States Secretary of Housing and Urban Development. military draft for the Vietnam War, Romney sought and received two 2-S student deferments, then a 4-D ministerial deferment while living in France as a Mormon missionary.
In a June 1970 newspaper profile of children of cabinet members, Mitt said that U. involvement in the war had been misguided – "If it wasn't a political blunder to move into Vietnam, I don't know what is" – but supported Nixon's ongoing Cambodian Incursion as a sincere attempt to bring the war to a conclusion. He later sought and received two additional student deferments.
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