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Wilbur Ross ---> Secretary of Commerce

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  • Wilbur Ross ---> Secretary of Commerce

    President-elect Donald Trump plans to nominate investor Wilbur Ross, who became a billionaire by acquiring and restructuring troubled companies, for Commerce Department secretary, Ross said Wednesday on CNBC.

    Ross would oversee a sprawling agency of almost 47,000 that describes itself as “the voice of U.S. business within the President’s Cabinet.” Under the Commerce umbrella are entities as diverse as the U.S. Patent and Trademark Office; the Bureau of Economic Analysis, which provides official macroeconomic statistics about the U.S. economy; and the National Oceanic and Atmospheric Administration, which among other things tracks hurricanes and has a key role in monitoring the effects of climate change.

    Ross, 79, a longtime Democrat, backed Republican presidential nominee Mitt Romney in 2012. He emerged as an advocate for Trump’s trade and economic agenda when the real-estate developer was still seen as a long shot against Democrat Hillary Clinton, and denounced Romney for criticizing Trump.


    “Trump’s pro-growth agenda will get this economy growing,” Ross wrote in a joint opinion piece in October for RealClearPolicy with CKE Restaurants Inc. chief executive officer Andy Puzder and economist Peter Navarro. “It is a solemn promise based on a solid set of interactive and highly synergistic policies designed to free the American economy from the chains that have been wrapped around it during the Obama-Clinton years.”


    Ross’ seminal deal, starting in 2002, cobbled once-iconic steel-making companies into International Steel Group Inc., what was then the nation’s second-largest integrated steelmaker. He and his backers in 2004 announced the sale of the Ohio-based firm for about $4.5 billion to Indian-born, U.K.-based steel billionaire Lakshmi Mittal, reaping more than an eightfold profit, about $2.9 billion.

    Ross also put together deals in the coal mining, automotive parts, and textile industries, among others.


    Watts Up With That? | The world's most viewed site on global warming and climate change.

  • #2
    Good news!
    Any man can hold his place when the bands play and women throw flowers; it is when the enemy presses close and metal shears through the ranks that one can acertain which are soldiers, and which are not.


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