Wilbur Ross in Ballotpedia.org political website

On Corporations: CEO of International Coal Group, plus Steel & Textiles

In 2002, Ross established the International Steel Group (ISG), which he established through buyouts and mergers. The ISG had begun with the Pennsylvania-based Bethlehem Steel Corporation when it filed for bankruptcy in 2001. Ross was made chairman of the board of the ISG and, in 2003, he took ISG public.

During a bankruptcy auction in 2004, Ross purchased Horizon Natural Resources and created the International Coal Group (ICG). Ross sold ICG for $3.4 billion in 2011 to Arch Coal, Inc., which is headquartered in St. Louis, Missouri.

Ross' firm merged five companies into the International Textile Group (ITG) in 2004. Ross served as the ITG chairman. The companies continued to operate under their respective names and the group's headquarters are located in Greensboro, North Carolina.

Ross founded the International Automotive Components Group in 2006 and served as the chairman of the group until 2014, when he stepped down to take up a position with the Bank of Cyprus.

Source: Ballotpedia.org: 2017 Trump transition confirmation hearings Feb 3, 2017

On Free Trade: Criticized multinational trade deals: there is no free lunch

During an interview on CNBC on November 30, 2016, Ross criticized multinational trade deals. He said, "The problem with regional trade agreements is you get picked apart by the first country. Then you negotiate with the second you get picked apart. And you go with the third one. You get picked apart again. What has to be put into perspective, we are the big market. We are the world's biggest importer. We need to treat the other countries as good suppliers. Not as determining the whole show."

In August 2016, Ross criticized U.S. trade policies, a cornerstone of Trump's candidacy. He said, "Free trade is like free lunch, there is no free lunch. Somebody wins and somebody loses and unfortunately we've been losing with these stupid agreements that we've made."

Source: Ballotpedia.org: 2017 Trump transition confirmation hearings Feb 3, 2017

The above quotations are from Ballotpedia.org political website. Click here for other excerpts from Ballotpedia.org political website. Click here for other excerpts by Wilbur Ross. Click here for a profile of Wilbur Ross.
Please consider a donation to OnTheIssues.org! Click for details -- or send donations to: 1770 Mass Ave. #630, Cambridge MA 02140 E-mail: submit@OnTheIssues.org (We rely on your support!)

Page last updated: Sep 02, 2024