Obama Buys from Bain Capital – Staples
While their candidate is out bashing Mitt Romney’s Bain Capital as a job outsourcer and greedy corporate raider, President Obama’s campaign is endorsing the essence of one of Bain’s biggest success stories, low-price office supply store Staples.
Created in a 1986 partnership with Bain during Romney’s leadership at the private equity firm, Staples was so successful Bain received a near seven-fold return on its investment and Romney sat on the Staples board of directors for over a decade.
The idea was a simple one: sell office supplies for less and direct to companies and everyday Americans.
Team Obama turns out to be a big fan, spending $17,963.04 at Staples this year alone, according to Federal Election Commission reports. The Obama campaign just doesn’t walk into stores to shop, it also participates in the Staples Advantage business-to-business market where a majority of the spending went.
And the endorsement of Bain-backed super-stores doesn’t end there. The campaign in February also spent $199.99 at Sports Authority which the Romney firm also backed.