Romney testimony reveals rocky start at Staples
The company revolutionized the office supply business, but its success was far from guaranteed
It was early 1987, and Mitt Romney was shopping. And he was angry. He was walking the aisles of Staples, a little-known retail store his firm had bet $1.5 million on so far, and picking up office supplies. Then he waited in line at the check-out counter -- for far too long. To Romney, then CEO of Bain Capital, a superstore with low prices was a good idea, but there were big problems. Staples went on to become a runaway success, but court documents offer a new glimpse into its rocky early days.