Bain Capital hires hint Romney's VP pick might be a mini-Mitt

The Hill ^ | 04/25/12 | Peter Schroeder

[markomalley]

Mitt Romney is on the hunt for a vice presidential candidate, and if his years running Bain Capital are any indication, he might be looking for a version of himself.

In his roughly 25 years at Bain, Romney tended to hire mini-Mitts — smart, ambitious, clean-cut and a little awkward, according to those who dealt closely with the men.

Romney built the private equity firm, a spinoff of the consulting firm Bain & Co., from the ground up in the mid-1980s, bringing on several people who would help him turn it into an investment giant.

“First-rate brain power, first-rate analytical power. These were sometimes kind of geeky people,” said Howard Anderson, a senior lecturer at the Massachusetts Institute of Technology’s school of business who invested with Bain as an entrepreneur. “They were not often people who would be elected class president.”

Geoffrey Rehnert, who helped Romney establish Bain in 1984 as a founding partner but now helps run the investment firm Audax Group, said the presumptive GOP nominee might not be hunting for a total “yes man.” At Bain, Rehnert recalls, he was comfortable with a diversity of opinion, provided it was backed up by hard data.

“He went to law school, and believed deeply that smart people debating points of view would lead to creative solutions and better decisions,” Rehnert said. “Mitt is highly analytical and very apt at digging in himself and getting to the crux of an issue.”

Anderson noted that while those at Bain under Romney had “strong egos,” they largely were easygoing.

“There are some very brilliant people who you want to strangle. These were not them,” he said.

If what appealed to Romney at Bain remains the same during the search for a running mate, that mild-mannered preference might hurt the odds of Republicans who have made a name by being more confrontational, like New Jersey Gov. Chris Christie.

Two names that might fit that brainy Bain profile are Indiana Gov. Mitch Daniels and Ohio Sen. Rob Portman. While neither is known for offering the fieriest of profiles, both have built reputations as fiscal wonks and had stints running the Office of Management and Budget under President George W. Bush.

Rehnert, who is supporting Romney’s run, said Portman’s profile is “consistent with the type of people we had at Bain Capital.”

He also said House Budget Committee Chairman Paul Ryan (R-Wis.), who is on the frontlines of the GOP fight on spending, would fit the Bain mold.

“He is very bright, very energetic and highly intellectual and analytical,” he said.

Both Anderson and Rehnert said Romney made strong moral fiber a top priority in those he brought on at Bain.

“Lack of integrity was unacceptable,” said Rehnert.

“Your moral compass had to be set at true north from the very beginning,” agreed Anderson. “If there’s any question of that, they would never get to step two.”

Romney wasn’t afraid to hire those who made up for his weakness, according to a recent biography of the former governor. In their book The Real Romney, Boston Globe reporters Michael Kranish and Scott Helman noted that one of Romney’s difficulties at Bain was bringing in new clients.

“Romney made up for his weaknesses by hiring — and paying well — partners who excelled in finding and closing deals,” the book notes.

For now, the Romney campaign is keeping a tight lid on its VP search. Beth Myers, the longtime Romney adviser tapped to lead the hunt, has simply said that the campaign is looking for someone who could do the job, if needed, and who gets along with the candidate.

While Romney sought out certain values in building up Bain, running a private equity firm is obviously different from running, and winning, a presidential campaign. As such, Romney’s camp will have to figure out how political considerations must mesh with other priorities.

For example, Sen. Marco Rubio’s (R-Fla.) Cuban background, youth and conservative bona fides, coupled with hailing from the key swing state of Florida, have led some to suggest that he could be the pick to beat as Romney’s No. 2, even if those aspects would not have necessarily meant a leg up at Bain.

“What you might want on that ticket is someone with that kind of charisma,” said Anderson, pointing to President Clinton’s easygoing nature. “That’s the kind of charisma that didn’t count for s--t at Bain Capital.”

Another new variable is demographic — bringing a woman or minority on to the ticket may be a factor being considered by the Romney camp. Beyond Rubio, Sen. Kelly Ayotte (R-N.H.), former Secretary of State Condoleezza Rice and Louisiana Gov. Bobby Jindal are among those who could bring diversity to the ticket as a vice presidential nominee.

Portman also comes from a swing state, which could tilt the scales in his favor, but some GOP operatives downplay making picks with an eye toward geography.

John Weaver, who worked on Jon Huntsman’s presidential bid and was a longtime adviser to Sen. John McCain (R-Ariz.), called swing state roots “overrated” in a vice presidential pick.

“I don’t think that’s something they’re going to take into account,” he said. “It’s hard for the vice president to produce any Electoral College geography.”

Rather, Weaver maintained that it largely comes down to personality: “There’s no rule other than finding a competent person that you’re compatible with.”

[markomalley]

Just what is needed, a chameleon and its young.

Beautiful, just beautiful... (blech)

[Diogenesis]

How about Chris Wallace for VP, Milt's anchor-wife-in-training?

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IT’S UNANIMOUS FOR RINO ROMNEY
From the planners of the 911 Victory Mosque
to the Kennedy Seat in Massachusetts to the entire DNC

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Carville(D):
"It's a feel-good story, this Romney thing.
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Sen. John Kerry (D) to Don Imus on RomneyCARE:
"I like this health care bill".

Sen. Hillary Clinton (D) on RomneyCARE:
"To come up with a bipartisan plan in this polarized environment is commendable."

George Soros Wants Mitt Romney

[Elvina]

It’s just pure comic relief now. Guess the Grand Old Party is no more.

[outofsalt]

The obvious answer to this line of attack is that he did not hire mini Corzines ala MF Global (and big time democrat contributor to Obama!)
No prosecutions yet?

[Graybeard58]

Completely irrelevant to me who his running mate is. No Romney, now or ever.

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Romney vs. Obama? One of them has to lose, rejoice in that fact, whichever it is.

[gitmogrunt]

2012 Moderate Americans finally get their Snake oil salesman and a milquetoast V.P. they are yearning for.

[Caipirabob]

Romney will do for America what Schwarzenegger did for California...if mitt can rise to that level of competence.

[Forward the Light Brigade]

No,No, No—Mittens is going to pick a Conservative to balance the ticket!!! Look for Santorum, Newt or some western Governor to be his VP. Must get Tea Party on Board with a Sarah Palin like pick-— Watch—it might even be a woman! Michele B.? Its the only way he can inject excitement into the race.

[Cringing Negativism Network]

PALIN 2016

[Verginius Rufus]

I wonder if Rick Perry is out of the question.

[DBeers]

LOL!!!! Some potential VP's listed here: Romney Campaign Ambiguously Gay - Free Republic

[DBeers]

Both Anderson and Rehnert said Romney made strong moral fiber a top priority in those he brought on at Bain.

MEGA BARF!!!!!

[SunkenCiv]

Thanks markomalley.

Rehnert, who is supporting Romney's run, said Portman's profile is "consistent with the type of people we had at Bain Capital." He also said House Budget Committee Chairman Paul Ryan (R-Wis.), who is on the frontlines of the GOP fight on spending, would fit the Bain mold. "He is very bright, very energetic and highly intellectual and analytical," he said. Both Anderson and Rehnert said Romney made strong moral fiber a top priority in those he brought on at Bain. "Lack of integrity was unacceptable," said Rehnert.

He'd better look outside of the political arena then.