Romney’s Former Company Bids for Billabong
Yes, Mitt Romney and his campaign have received plenty of flack for their struggle to impress young voters. So it's too bad the presidential hopeful is no longer on board with the company he co-founded in 1984, Bain Capital.
Bain Capital just bid to purchase Billabong, the struggling Australian surf-wear brand. Because Romney left the company in 2002 to pursue his political career, he can't lay claim to the attempt for the totally rad acquisition.
If successful in its buyout, Bain Capital will have an opportunity to turn around the surf company's performance. Billabong has struggled as its brands became less popular in Europe, Canada and Australia. Ultimately it is unclear whether the company will be sold. Despite a $300 million loss for the financial year, Billabong has told investors that it can turn the company around.