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He was first runner-up for the nomination in 2008. In 1994, Mitt Romney proved to be the most difficult challenger that incumbent Senator [[Ted Kennedy]] of Massachusetts ever faced for re-election, causing Kennedy to pour far more money into the race than he expected.<ref>[http://archive.newsmax.com/romney/ Romney to the Rescue: Mitt Romney's Got the Right Stuff for 2008] Kessler, Ronald, newsmax.com archives, retrieved April 27, 2012.</ref>

He was first runner-up for the nomination in 2008. In 1994, Mitt Romney proved to be the most difficult challenger that incumbent Senator [[Ted Kennedy]] of Massachusetts ever faced for re-election, causing Kennedy to pour far more money into the race than he expected.<ref>[http://archive.newsmax.com/romney/ Romney to the Rescue: Mitt Romney's Got the Right Stuff for 2008] Kessler, Ronald, newsmax.com archives, retrieved April 27, 2012.</ref>

Before entering politics Romney was a businessman in Boston, having served as CEO of [[Bain Capital]], a management consulting firm known for taking over American companies, laying off employees, and profiting from bankruptcy:<ref>https://thinkprogress.org/under-romney-bain-capital-made-millions-from-south-carolina-business-that-shut-down-laid-off-150-b855c39012ca/</ref>

Before entering politics Romney was a businessman in Boston, having served as CEO of [[Bain Capital]], a management consulting firm known for taking over American companies, laying off employees,<ref name="InvestorsProfits">Kraychik, Robert (January 3, 2019). [https://www.breitbart.com/radio/2019/01/03/henry-olsen-mitt-romney-put-investors-profits-over-american-jobs/ Henry Olsen: Mitt Romney Put ‘Investors’ Profits’ over ‘American Jobs’]. ''Breitbart News''. Retrieved January 3, 2019.</ref> and profiting from bankruptcy:<ref>https://thinkprogress.org/under-romney-bain-capital-made-millions-from-south-carolina-business-that-shut-down-laid-off-150-b855c39012ca/</ref>

{{cquote|Under Romney, “four of the 10 companies Bain acquired declared bankruptcy within a few years, shedding thousands of jobs.” But documents show that “Bain investors profited in eight of the 10 deals, including three of the four that ended in bankruptcy.” Indeed, the firm pointedly made higher profits “by firing workers, seeking government subsidies, and flipping companies quickly for large profits.”}}

{{cquote|Under Romney, “four of the 10 companies Bain acquired declared bankruptcy within a few years, shedding thousands of jobs.” But documents show that “Bain investors profited in eight of the 10 deals, including three of the four that ended in bankruptcy.” Indeed, the firm pointedly made higher profits “by firing workers, seeking government subsidies, and flipping companies quickly for large profits.”}}

==Business career==

==Business career==

From 1978 to 1984, Romney was a vice president of Bain & Company, Inc. a worldwide management consulting firm, and in 1984, Romney co-founded a spin-off called Bain Capital. He invested in or bought many well-known companies such as Staples, Brookstone, Domino's, Sealy Corporation and Sports Authority.  Critics say he advised corporations to cut their U.S. taxes by reincorporating in Caribbean tax havens such as the Cayman Islands while maintaining their operations in the U.S.

From 1978 to 1984, Romney was a vice president of Bain & Company, Inc. a worldwide management consulting firm, and in 1984, Romney co-founded a spin-off called Bain Capital. He invested in or bought many well-known companies such as Staples, Brookstone, Domino's, Sealy Corporation and Sports Authority.  Critics say he advised corporations to cut their U.S. taxes by reincorporating in Caribbean tax havens such as the Cayman Islands while maintaining their operations in the U.S. His business practices also resulted in the layoffs of many American workers.

==Record as Governor==

==Record as Governor==