Who is Wilbur Ross?

nhboy

Ubi bene ibi patria
" President-elect Donald Trump has named billionaire Wilbur Ross Jr. as his Secretary of Commerce. The man who Fortune called the “king of bankruptcy” and “dean of distressed investing” has been criticized as a “vulture” capitalist who made a fortune while running roughshod over workers and “shedding retiree benefits.”

After a lengthy career leading the bankruptcy team at Rothschild Inc., Ross launched his own firm, WL Ross & Co., in 2000. Between 2001 and 2011, the Securities and Exchange Commission (SEC) determined, his company made more than $10 million from investors in improperly disclosed fees (for which the firm paid a $2.3 million civil fine as part of a settlement, but did not admit wrongdoing).

Here are some other things to know about the man who would be in charge of economic growth and opportunity in the new administration. "

https://thinkprogress.org/who-is-wilbur-ross-5e22fab68f47#.q7ftxv7zy
 

vraiblonde

Board Mommy
PREMO Member
Patron
He sounds like a troubleshooter, which is exactly what we need. What are those guys called who go in to failing corporations to turn them around and make them profitable? They have a name and I can't come up with it...

Whatever, those guys are typically not popular with the rank and file because they do things like increase productivity while reducing costs. Many times they revamp the benefit package, and often they lay people off. The idea is to save the corporation from shutting its doors, which keeps most of the workers employed.

A big deal is being made that Ross was skeptical of Trump's economic plan, but I'm guessing that's why Trump chose him - because he has better ideas and a firmer grasp on the situation. It's amazing to me that for some reason we expect the president to be the expert on everything in the universe, when that is completely ridiculous. What we *should* expect him to do is put smart capable people in his cabinet and delegate - you know, how it's supposed to be done.

This is where "cronyism" comes into play. If you're a Barack Obama, and the only players you know are social rabblerousers with no discernible skills otherwise, you're going to get the incompetence we've had for the last 8 years. But if your friends are successful, plugged in, and know how to do things, you're going to get an A Team. That's one of the main differences between Democrats and Republicans: Democrats go, "Who is black? Who is a woman? Any black women we can fit into this slot?"; Republicans go, "Who would be really good at this? Who is the best in their field?"
 

mAlice

professional daydreamer
That's one of the main differences between Democrats and Republicans: Democrats go, "Who is black? Who is a woman? Any black women we can fit into this slot?"; Republicans go, "Who would be really good at this? Who is the best in their field?"

And, as Trump has shown us by his choices to date, that may not mean hiring only straight, white males.
 
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