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Mitt Romney graduated from the Cranbrook School in Bloomfield Hills (now [[Cranbrook Kingswood School]]). After attending [[Stanford University]] for four quarters, Romney served in [[France]] for 30 months as an [[Missionary (LDS Church)|LDS missionary]].<ref>Miller, John J. "[http://www.nationalreview.com/miller/miller200506031216.asp Matinee Mitt.]" ''National Review, June 20 2005.- </ref>
Mitt Romney graduated from the Cranbrook School in Bloomfield Hills (now [[Cranbrook Kingswood School]]). After attending [[Stanford University]] for four quarters, Romney served in [[France]] for 30 months as an [[Missionary (LDS Church)|LDS missionary]].<ref>Miller, John J. "[http://www.nationalreview.com/miller/miller200506031216.asp Matinee Mitt.]" ''National Review, June 20 2005.- </ref>


Upon returning from France he married Ann Davies in a [[Civil ceremony|civil service]] for the attendance of Ann's parents and guests, followed by the actual marriage ceremony in a [[Temple (Latter Day Saints)|LDS temple]], in which only certain members of the [[LDS church]] could attend.<ref name="romneymarriage">"[http://www.usatoday.com/printedition/news/20070213/1a_cover13.art.htm/ Will Mormon faith hurt bid for White House?]" "USA Today'' Retrieved [[August 12]], [[2007]].</ref> He transferred to [[Brigham Young University]], where he was [[valedictorian]], earning his [[Bachelor of Arts|B.A.]] ''[[Latin Honors|summa cum laude]]'' in 1971. In 1975, Romney graduated from a joint [[Juris Doctor|JD]]/[[Master of Business Administration|MBA]] program coordinated between [[Harvard Law School]] and [[Harvard Business School]]. He graduated ''[[Latin Honors|cum laude]]'' from the law school and was named a [[Baker Scholar]] for graduating in the top five percent of his business school class.<ref>Hugh Hewitt, ''A Mormon in the White House'', March 2007</ref>
Upon returning from France he married Ann Davies in a [[Civil ceremony|civil service]] for the attendance of Ann's parents and guests, followed by the actual marriage ceremony in a Latter Day Saints.name="romneymarriage">"[http://www.usatoday.com/printedition/news/20070213/1a_cover13.art.htm/ Will Mormon faith hurt bid for White House?]" "USA Today'' Retrieved [[August 12]], [[2007]].</ref> He transferred to [[Brigham Young University]], where he was [[valedictorian]], earning his [[Bachelor of Arts|B.A.]] ''[[Latin Honors|summa cum laude]]'' in 1971. In 1975, Romney graduated from a joint [[Juris Doctor|JD]]/[[Master of Business Administration|MBA]] program coordinated between [[Harvard Law School]] and [[Harvard Business School]]. He graduated ''[[Latin Honors|cum laude]]'' from the law school and was named a [[Baker Scholar]] for graduating in the top five percent of his business school class.<ref>Hugh Hewitt, ''A Mormon in the White House'', March 2007</ref>


===Business career===
===Business career===

Revision as of 17:36, 22 September 2007

Willard Mitt Romney
70th Governor of Massachusetts
In office
January 2, 2003 – January 4, 2007
LieutenantKerry Healey
Preceded byJane M. Swift (acting)
Succeeded byDeval Patrick
Personal details
Born (1947-03-12) March 12, 1947 (age 77)
Michigan Detroit, Michigan
NationalityAmerican
Political partyRepublican
SpouseAnn Romney
Alma materBrigham Young University, Harvard University

Willard Mitt Romney (born March 12 1947) was the 70th Governor of the Commonwealth of Massachusetts. Elected in 2002, Romney served one term and did not seek re-election in 2006; his term expired January 4, 2007.[1]

Romney is a Republican candidate in the 2008 United States presidential election.[2]

He is a former CEO of Bain & Company, a management consulting firm, and the co-founder of Bain Capital, a private equity investment firm. He also served as president and CEO of the 2002 Olympic Winter Games held in Salt Lake City.

Biography

Born on March 12, 1947 in Detroit, Michigan, Mitt Romney is the son of 1968 presidential candidate George W. Romney and 1970 U.S. Senate candidate Lenore Romney. He was named after hotel magnate J. Willard Marriott, his father's best friend,[3]

Romney married his high school sweetheart Ann Davies in 1968. Both are members of The Church of Jesus Christ of Latter-day Saints, commonly known as Mormons. They have five sons as well as ten grandchildren. They have homes in Massachusetts, New Hampshire and Utah.[4]

Early life and education

Mitt Romney graduated from the Cranbrook School in Bloomfield Hills (now Cranbrook Kingswood School). After attending Stanford University for four quarters, Romney served in France for 30 months as an LDS missionary.[5]

Upon returning from France he married Ann Davies in a civil service for the attendance of Ann's parents and guests, followed by the actual marriage ceremony in a Latter Day Saints.name="romneymarriage">"Will Mormon faith hurt bid for White House?" "USA Today Retrieved August 12, 2007.</ref> He transferred to Brigham Young University, where he was valedictorian, earning his B.A. summa cum laude in 1971. In 1975, Romney graduated from a joint JD/MBA program coordinated between Harvard Law School and Harvard Business School. He graduated cum laude from the law school and was named a Baker Scholar for graduating in the top five percent of his business school class.[6]

Business career

After graduating from Harvard, Romney went to work for the The Boston Consulting Group, where he had interned during the summer of 1974.[7] From 1978 to 1984, Romney was a vice president of Bain & Company, Inc., another Boston-based management consulting firm. In 1984, Romney left Bain & Company to co-found a Bain & Company spin-off private equity investment firm called Bain Capital.[8] During the 14 years he headed the company, Bain Capital's average annual internal rate of return on realized investments was 113 percent,[9] making money primarily through leveraged buyouts.[10] He invested in or bought many well-known companies such as Staples, Brookstone, Domino's, Sealy Corporation and The Sports Authority.[11]

In 1990, Romney was asked to return to Bain & Company, which was facing financial collapse. As CEO, Romney managed an effort to restructure the firm's employee stock-ownership plan, real-estate deals and bank loans, while increasing fiscal transparency. Within a year, he had led Bain & Company through a highly successful turnaround and returned the firm to profitability without layoffs or partner defections.[9]

Romney left Bain Capital in 1998 to head the 2002 Salt Lake City Olympic Games Organizing Committee.[12]

He and his wife have a net worth of between 190 and 250 million USD.[13]

CEO of the Salt Lake Organizing Committee

Romney served as president and CEO of the 2002 Olympic Winter Games held in Salt Lake City. In 1999, the event was running $379 million short of its revenue benchmarks. Plans were being made to scale back the games in order to compensate for the fiscal crisis.[14] The Games were also damaged by allegations of bribery involving top officials, including then Salt Lake Olympic Committee (SLOC) President and CEO Frank Joklik. Joklik and SLOC vice president Dave Johnson were forced to resign.[15]

On February 11, 1999, Romney was hired as the new president and CEO of the Salt Lake Organizing Committee.[16] Romney revamped the organization's leadership and policies, reduced budgets and boosted fundraising. He also worked to ensure the safety of the Games following the terrorist attacks of September 11, 2001 by coordinating a $300 million security budget.[17] Despite the initial fiscal shortfall, the Games ended up clearing a profit of $100 million, not counting the $224.5 million in security costs contributed by outside sources.[18][19]

Romney contributed $1 million to the Olympics, and donated the $825,000 salary he earned as President and CEO to charity.[20] He wrote a book about his experience called Turnaround (ISBN 978-1-59698-514-8).

Massachusetts political campaigns

Campaign for United States Senate, 1994 election

In 1994, Romney won the Massachusetts Republican Party's nomination for U.S. Senate after defeating businessman John Lakian in the primary.[21] Romney's mother had run for the Senate in 1970.[22] Some early polls showed Romney close to the Senator Ted Kennedy. One Boston Herald/WCVB-TV poll taken after the September 20, 1994 primary showed Romney ahead 44 percent to 42 percent, within the poll's sampling margin of error.[23] Kennedy, who typically faced only "token" GOP opposition for his senate seat was more vulnerable than usual in 1994, in part because of the unpopularity of the Democratic Congress as a whole and also because this was Kennedy's first election since the William Kennedy Smith trial in Florida, in which Ted Kennedy had taken some public relations hits regarding his character. President Bill Clinton traveled to Massachusetts to campaign for Kennedy.[citation needed]

After Romney touted his business credentials and his record at creating jobs within his company, Kennedy ran campaign ads showing an Indiana company bought out by Romney's firm, Bain Capital, and interviews with its union workers who had been fired and criticized Romney for the loss of their jobs, one saying, "I don’t think Romney is creating jobs because he took every one of them away."[24][25] Although both Kennedy and Romney supported the abortion rights established under Roe v. Wade, Kennedy accused Romney of being "multiple choice" on the issue, rather than "pro choice" (a shot at what he stated were Romney's flip flops on the issue). According to figures in The Almanac of American Politics 1996, which relies on official campaign finance reports, Romney spent over $7 million of his own money, with Kennedy spending more than $10 million from his campaign fund, mostly in the last weeks of the campaign (this was the second-most expensive race of the 1994 election cycle, after the Dianne Feinstein vs. Michael Huffington Senate race in California).[26] Kennedy won the election with 58 percent of the vote to Romney's 41 percent, the smallest margin in Kennedy's nine elections to the Senate through 2006.[27]

Campaign for Governor, 2002 election

Main article: Massachusetts gubernatorial election, 2002

In 2002, Republican Lieutenant Governor Jane Swift was expected to campaign for the governor's office. Swift had served as acting governor after Republican Governor Paul Cellucci resigned upon being appointed U.S. Ambassador to Canada. Swift was viewed as an unpopular executive, and her administration was plagued by political missteps and personal scandals.[28] Many Republicans viewed her as a liability and considered her unable to win a general election against a Democrat.[29] Prominent GOP activists campaigned to persuade Romney to run for governor.[30] One poll taken at this time showed that Republicans favored Romney over Swift by more than 50 percentage points.[31] Swift decided not to seek her party's nomination.

Massachusetts Democratic Party officials claimed that Romney was ineligible to run for governor, citing residency issues. The Massachusetts Constitution requires seven consecutive years of residency prior to a run for office. Romney claimed residency in Utah from 1999 to 2002, during his time as president of the Salt Lake City Olympic Committee. In 1999 he listed himself as a part-time Massachusetts resident.[32] The Massachusetts Democratic Party filed a complaint with the Massachusetts State Ballot Law Commission, which eventually ruled that Romney was eligible to run for office. The ruling was not challenged in court.[33]

Supporters of Romney hailed his business record, especially his success with the 2002 Olympics, as that of one who would be able to bring in a new era of efficiency into Massachusetts politics.[34] Romney contributed $6.3 million to his own campaign during the election, at the time a state record.[35] Romney was elected Governor in November 2002 with 50 percent of the vote over Democratic candidate Shannon O'Brien, who received 45 percent.[36]

Governor of Massachusetts, 2003–2007

Main article: Governorship of Mitt Romney

Romney was sworn in as the 70th governor of Massachusetts on January 2, 2003. Upon entering office, Romney faced a projected $3 billion deficit, but a previously enacted $1.3 billion capital gains tax increase and $500 million in unanticipated federal grants decreased the deficit to $1.2 billion.[37]

Through a combination of tax and fee increases and spending cuts the State had a $700 million surplus by 2006.[38] Romney supported raising various fees by $500 million per year, including raising fees for driver's licenses, marriage licenses, and gun licenses.[39] Romney increased the state gasoline tax by 2 cents per gallon, generating about $60 million per year in additional tax revenue.[40] Romney approved another $181 million in additional business taxes in the next two years; businesses called these changes tax increases, but Romney defended them as the elimination of "loopholes."[40][41]

The state legislature with Romney's support also cut spending by $1.6 billion, including $700 million in reductions in state aid to cities and towns, leading many towns to increase property taxes to make up for lost funding for schools and police.[42] The cuts also included a $140 million reduction in state funding for higher education, which led state-run colleges and universities to increase tuition by 63%.[40] Romney sought additional cuts in his last year as Massachusetts governor by vetoing nearly 250 items in the state budget. All of those vetoes were overturned by the legislature, effectively removing Romney from the final stage of the state's budget process.[43]

According to an analysis by the Tax Foundation, the state and local tax burden in Massachusetts increased from 10 percent to 10.6 percent of per capita income during Romney's governorship.[40]

On April 12, 2006, Romney signed the Massachusetts health reform law which mandates nearly all Massachusetts residents to buy health insurance coverage or else face a substantial penalty in the form of an additional income tax assessment. The bill also establishes means-tested state subsidies for people without adequate employer insurance and who make below an income threshold by using funds previously designated to compensate for the health costs of the uninsured.[44][45][46] He vetoed 8 sections of the health care legislation, including an employer assessment[47] [48] and provisions providing health coverage to senior and disabled legal immigrants not eligible for federal Medicaid.[49] [50] The legislature overrode all eight vetoes. Romney's communications director Eric Fehrnstrom responded saying "These differences with the Legislature are not essential to the goal of getting everyone covered with insurance."

At the beginning of his governorship, Romney opposed same-sex marriage and civil unions while supporting domestic partnerships for same-sex couples.[51] [52] Faced with the dilemma of choosing between gay marriage or civil unions after the November 2003 Massachusetts Supreme Judicial Court decision legalizing same-sex marriages (Goodridge v. Department of Public Health), Romney reluctantly backed a state constitutional amendment in February 2004 that would have banned gay marriage but still allow civil unions, viewing it as the only feasible way to ban gay marriage in Massachusetts.[53] In May 2004 Romney instructed town clerks to begin issuing marriage licenses to gay couples, but citing a 1913 law that barred out-of-state residents from getting married in Massachusetts if their union would be illegal in their home state, [54] [55] no marriage licenses were to be issued to out-of-state gay couples not planning to move to Massachusetts. In June 2005, Romney abandoned his support for the compromise amendment, stating that the amendment confused voters who oppose both gay marriage and civil unions. Instead, Romney endorsed a petition effort led by the Coalition for Marriage & Family that would have banned gay marriage and made no provisions for civil unions.[56] In 2006 he urged the U.S. Senate to vote in favor of the Marriage Protection Amendment.[57][58]

On December 14, 2005, Romney announced that he would not seek re-election for a second term as governor, fueling speculation about a run for the White House in 2008.[59] Sinking approval ratings (70% of Massachusetts residents and 64% of Republicans) said that Romney had been doing a fair-to-poor job as governor. [60]

Romney filed papers to establish a formal exploratory presidential campaign committee the next to last day in office as governor.[61] Romney's term ended January 4, 2007.

Campaign for United States President, 2008 election

Template:Future election candidate

Main article: Mitt Romney presidential campaign, 2008
Romney at a parade in Milford, New Hampshire; September 3, 2007

Since the 2004 Republican National Convention, Romney had been discussed as a potential 2008 presidential candidate.[62] On January 3 2007, two days before he stepped down as governor of Massachusetts, Romney filed to form a presidential exploratory committee with the Federal Election Commission.[63][64] On February 13, 2007 Romney formally announced his candidacy for the Republican nomination for president in 2008.

In August, 2007, Romney won the Ames Straw Poll with 31% of the vote.[65] His closest rival in the Straw Poll, Mike Huckabee, received 18% of the total vote. [66] Rudy Giuliani, John McCain, and the then-unofficial candidate Fred Thompson, did not attend. Romney also won the Illinois Straw Poll with 40.35% of the vote, with Fred Thompson coming in 2nd with 19.96% of the total vote.[67]

Romney has been criticized for comparing his son's campaign work on his behalf to military service. Said Romney, "one of the ways my sons are showing support for our nation is helping to get me elected.” Neither Romney nor his five sons have served in the military.[68] Romney later said he misspoke and that he does not consider campaign work as service to the country.[69]

As of September 2007, state-by-state polls for the 2008 Republican nomination show that Romney has electoral support in the key early states of Iowa[70], New Hampshire[71] and Nevada[72], and is also polling well in Michigan[73] (which may be a key early state), Utah[74] and Idaho[75].

Political positions

Main article: Political positions of Mitt Romney

Romney supports a pro-life platform, though he took a pledge in 1994 not to infringe upon abortion rights in Massachusetts. Romney said his original support of abortion was the result of his sister-in-law's death from an illegal abortion.[76][77][78] In the 2002 Massachusetts gubernatorial campaign, he was endorsed by the Republicans for Choice coalition.[79] In a March 15 2007 interview with Larry King, Romney explained that while governor he adapted his political position on abortion on November 9, 2004 when he met with an embryonic stem cell researcher and the idea of cloning human embryos for the purpose of harvesting stem cells was discussed.[80]

Romney opposed both same-sex marriage and civil unions in Massachusetts, but said he would support laws against hate crimes and discrimination against gays and to provide some partner benefits. When in 2003 the Massachusetts Supreme Judicial Court ordered such marriages be permitted, he lobbied for a constitutional amendment to overturn the decision.[81] However, during his 1994 run for the senate against Kennedy, Romney sent a letter to the Log Cabin Republicans, where he said he would be more supportive of gay rights than Kennedy himself, and included the phrase "We must make equality for gays and lesbians a mainstream concern."[82]

Romney supported the invasion of Iraq[83], and supports the Iraq War troop surge of 2007, though he said it is still too early to gauge its success.[84]

Romney has advocated eliminating the capital gains tax for "middle and moderate income Americans." [85] Earlier that summer at the Iowans for taxpayer relief forum, Romney went into more detail, clarifying that there was no income ceiling to his definition of "moderate income Americans." Romney has also advocated eliminating the inheritance tax[86], and has signed a pledge to oppose "any and all efforts" to increase income taxes.[87]

Romney currently supports the death penalty, charter schools, and sentencing under the three strikes law.[88][89][90] Romney has praised the executive branch for not giving detainees (including the few American citizens detained there, see Hamdi v. Rumsfeld) at Guantanamo access to the United States judiciary. [91]

Electoral history

  • 2002 Race for Governor, Massachusetts
  • 1994 Race for U.S. Senate, Massachusetts
    • Edward Kennedy (D) (incumbent), 58%
    • Mitt Romney (R), 41%
    • Lauraleigh Dozier (L), 0.7%
    • William Ferguson, 0.2%

See also

References

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  2. ^ Romney formally announces run for president Boston Globe, February 13, 2007
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  4. ^ Romney clarifies reports on huntingAssociated Press Retrieved June 21, 2007.
  5. ^ Miller, John J. "Matinee Mitt." National Review, June 20 2005.-
  6. ^ Hugh Hewitt, A Mormon in the White House, March 2007
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  9. ^ a b Rees, Matthew. "Mister PowerPoint Goes to Washington" The American, December 1, 2006, retrieved December 16, 2006.
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  15. ^ "Salt Lake Olympics rocked by resignations, evidence of payments" CNN.com, January 8, 1999, retrieved October 28, 2006.
  16. ^ Call, Jeff "'The Fire Within" BYU Magazine, Winter 2002, retrieved October 28, 2006.
  17. ^ Rice, Lewis. "Games Saver" Harvard Law Bulletin, Spring 2002, retrieved October 28, 2006.
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  72. ^ Opinion_polling_for_the_Republican_Party_(United_States)_presidential_primaries,_2008#Nevada
  73. ^ Opinion_polling_for_the_Republican_Party_(United_States)_presidential_primaries,_2008#Michigan
  74. ^ Opinion_polling_for_the_Republican_Party_(United_States)_presidential_primaries,_2008#Utah
  75. ^ Opinion_polling_for_the_Republican_Party_(United_States)_presidential_primaries,_2008#Idaho
  76. ^ Mitt Romney says he opposes abortion February 7, 2007
  77. ^ Mitt Romney on the Issues
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  80. ^ Larry King Live, March 15, 2007One-On-One With Governor Mitt Romney
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  82. ^ "Romney's Gay Rights Stance Draws Ire". New York Times. 2006-12-09. Retrieved 2007-02-21.
  83. ^ Lorentzen, Amy (July 27, 2007). "Romney:U.S. is angry about Iraq". American Spectator. Houston Chronicle. Retrieved 2007-04-20. {{cite news}}: Check date values in: |date= (help); Cite has empty unknown parameter: |coauthors= (help)
  84. ^ https://www.mittromney.com/News/Press-Releases/Iraq_Statement_1_10_07 Press release from official Mitt Romney website
  85. ^ "Mitt Romney Iowa Straw Poll Speech". CSPAN. 2007-11-08.
  86. ^ "Romney rolls through business plan in hopes of winning Iowa". Boston Globe. 2007-08-10. {{cite news}}: Text "http://www.boston.com/news/nation/articles/2007/08/10/romney_rolls_through_business_plan_in_hopes_of_winning_iowa/" ignored (help)
  87. ^ Helman, Scott (2007-01-05). "Romney finds 'no new taxes' promise suits him after all". Boston Globe.
  88. ^ Lewis, Raphael (April 29, 2005). "Romney files death penalty bill". Boston Globe. Retrieved 2007-04-20. {{cite news}}: Check date values in: |date= (help); Cite has empty unknown parameter: |coauthors= (help)
  89. ^ Sacchetti, Maria (February 1, 2005). "Romney plan would greatly boost charter schools". Boston Globe. Retrieved 2007-04-20. {{cite news}}: Check date values in: |date= (help); Cite has empty unknown parameter: |coauthors= (help)
  90. ^ "Mitt Romney on crime". OnTheIssues. , 1994. Retrieved 2007-04-20. {{cite news}}: Check date values in: |date= (help); Cite has empty unknown parameter: |coauthors= (help)
  91. ^ "Mitt Romney Iowa Straw Poll Speech". CSPAN. 2007-11-08.

External links

Official
Speeches, multimedia and transcripts
Interviews
Databases and information
Media coverage
Political offices
Preceded by
Jane Swift
(as Acting Governor)
 Governor of Massachusetts
January 2, 2003–January 4, 2007 		Succeeded by
Party political offices
Preceded by Massachusetts Republican Party gubernatorial candidate
2002 (won) 		Succeeded by
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