Romney's sweet Bain Capital no-risk job

Posted by

How could Mitt Romney worry about being laid off with this sweet deal? The Boston Globe in 2007 reported that Romney agreed to run Bain Capital after negotiating terms so there wouldn’t be any financial or professional risk:

“Bain sweetened the offer. He guaranteed that if the experiment failed, Romney would get his old job and salary back, plus any raises handed out during his absence. Romney had one more concern: the impact on his reputation should he prove unable to do the job. In the end, Bain agreed to craft a cover story if necessary, promising to bring Romney back to the consulting firm and explain Romney's return as a matter of his being more valuable to Bain as a consultant. ‘So,’ Bain says, ‘there was no professional or financial risk.’"