Wilbur Ross
Wilbur Ross
Wilbur L. Ross, Jr. is an American investor known for restructuring failed companies in industries such as steel, coal, telecommunications, foreign investment and textiles. He specializes in leveraged buyouts and distressed businesses. As of August 2014, Forbes magazine lists Ross as one of the world's billionaires with a net worth of $2.9 billion...
NationalityAmerican
ProfessionBusinessman
Date of Birth28 November 1937
CountryUnited States of America
bankruptcy companies generally somebody sort
Generally speaking, companies get into bankruptcy as a kind of meritocracy. Somebody made some sort of big mistake, to get into bankruptcy, and very often, a part of the mistake is too much leverage.
bank eggs employer geography goes good inherently wrong
I don't think there's anything inherently wrong with a bank being big. In fact, there are some good arguments about universality of geography that in theory, if you have all your eggs in one little community, and some big employer goes out, that could be your downfall.
world regulation banking
Banking, I would argue, is the most heavily regulated industry in the world. Regulations don't solve things. Supervision solves things.
deal industrial logic support
I'm very much in support of it. The industrial logic of the deal is impeccable.
basis difficult economy envision flip living people preserved standard stores sue wait
What is worrisome about that is the U.S. standard of living. I think it is very difficult to envision our standard of living being preserved if we're in an economy where all people do is flip hamburgers, wait on people in stores and sue each other. It's not much of a basis for an economy.
almost continuing early filing stages
We are still in the early stages here. Almost every day, there is another supplier filing for bankruptcy. We are continuing to make acquisitions.
asia cards collapse everybody house knows nervous point seeing wonderful
Everybody knows that this wonderful house of cards is going to collapse at some point and everybody is nervous that this kind of situation, as we are seeing in Asia could be the precipitating event.
change china direction
China has done many things right. The direction of change is in the right direction.
cutting owned people separate sewing
There will be cutting and assembly, but not by us. The cutting and sewing people will be owned by separate companies, our traditional customers.
bolt freak horrible lightning struck
It's a horrible freak accident. Apparently, a lightning bolt struck the mine.
collins interested
We would be interested in bidding if Collins & Aikman in the U.S. were to come up for sale,
distressed looking parts scale technology
We are looking at many of these distressed (auto parts companies) that have some kind of proprietary technology and some scale of size.
hillary reinvent trying ways
My wife Hillary sometimes accuses me of trying to reinvent the 19th century. In some ways she's right because I like things that I can understand and that aren't too complicated.
business manager natural question
I think it's natural for any manager to want to grow his business. The question is at what rate, and in what direction, and in what format?