WASHINGTON (AP) " Wilbur Ross, the billionaire investor considered the "king of bankruptcy" for buying beaten-down companies with the potential to deliver profits, is President-elect Donald Trump's choice for Commerce secretary, a senior transition official said. In 2005, he sold the International Steel Group, which included the former Bethlehem Steel, to the Indian steel magnate Lakshmi Mittal. "Oh, my God, it's the worst week of my entire life," Ross told ABC News days after the collapse. If confirmed by the Senate as Commerce secretary, Ross would oversee nearly 47,000 employees and a budget of roughly $8 billion. One former Commerce secretary, Donald Evans, noted that a prime responsibility is opening up markets around the world for U.S. companies and workers.

Source: New Zealand Herald November 23, 2016 23:37 UTC