In testimony, Romney was skeptical of Staples

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Associated Press

Posted on October 25, 2012 at 7:04 PM

Updated Friday, Oct 26 at 12:02 AM

CANTON, Mass. (AP) — In newly unsealed testimony related to Staples founder Tom Stemberg's divorce, Republican presidential candidate Mitt Romney says he was initially skeptical of the idea for Staples, the office supply chain he lauds as a business success story that he helped create.

Romney also acknowledged in testimony in Massachusetts probate court in 1991 that he and other Staples directors created a special class of company stock for Stemberg's then-wife as a "favor" to Stemberg.

A Massachusetts judge unsealed Romney's testimony Thursday at the request of The Boston Globe.

Romney said during the hearings that in Staples' early days, its initial stores performed far behind expectations. He said friends told him that Staples was "a hard place to shop" and employees were "surly."

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