Trump commerce pick offshored thousands of jobs

Posted by | January 17, 2017 09:00 | Filed under: News Behaving Badly Politics

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Wilbur Ross offshored 2700 jobs since 2004.

Billionaire Wilbur Ross, chosen by Donald Trump to help implement the president-elect’s trade agenda, earned his fortune in part by running businesses that have offshored thousands of U.S. jobs, according to Labor Department data attained by Reuters.

As a high-stakes investor a decade ago, Ross specialized in turning around troubled manufacturing companies at a time when the U.S. economy was losing more than 100,000 jobs yearly due to global trade. A Senate confirmation hearing on his nomination to become commerce secretary is set for Wednesday.

Supporters say Ross saved thousands of U.S. jobs by rescuing firms from failure. Data attained by Reuters through a Freedom of Information Act request shows that rescue effort came at a price: textile, finance and auto-parts companies controlled by the private-equity titan eliminated about 2,700 U.S. positions since 2004 because they shipped production to other countries, according to a Labor Department program that assists workers who lose their jobs due to global trade. [For a graphic click tmsnrt.rs/2iYIJWa]

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Copyright 2017 Liberaland
By: Alan

Alan Colmes is the publisher of Liberaland.

2 responses to Trump commerce pick offshored thousands of jobs

  1. Buford2k11 January 17th, 2017 at 09:20

    I recognize a Vulture Capitalist when I sees one…A Mitt Romney type…Always available to pick the bones of an America business…

  2. granpa.usthai January 17th, 2017 at 09:50

    same as before.

    Reaganomics (VOODOO economics) aka ‘trickle down’ economics …

    (3rd time in many of our lifetimes) – and it –

    STILL WON’T WORK!

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