Mitt Romney won the Republican presidential nomination as a “turnaround man,” whose capacity to reinvent companies, and the 2002 Olympics, could be transferred to the nation and its troubled economy.

But from the outset of his general election campaign-burdened with the lowest favorability rating of any major party candidate since 1984 - it was evident that his most challenging reinvention would have to be Mitt Romney.

And Tuesday night it failed. Willard Mitt Romney came up short, losing his second and likely last campaign for the presidency to President Barack Obama.

“Almost president” is a distinction sought by no politician.

READ ON: Romney’s last, greatest ‘turnaround’ falls short

Supporters look on as they watch results on a large screen as a major news network projected Ohio for President Barack Obama at the U.S. Republican presidential nominee Mitt Romney election night rally in Boston, Massachusetts November 6, 2012. [REUTERS/Mike Segar]

LIVE COVERAGE: The 2012 U.S. Presidential Election

Current electoral vote tally: Both President Obama and candidate Mitt Romney have 159 electoral college votes. 270 needed to win. [Live coverage]

Republican presidential nominee Mitt Romney and vice-presidential nominee Paul Ryan gestures to supporters and campaign workers at a campaign office during the U.S. presidential election in Richmond Heights, Ohio November 6, 2012. [REUTERS/Brian Snyder]

FULL FOCUS: Election Day 2012 in pictures

Slideshow: Mitt Romney and his 18 grandchildren