Chairman, International Steel Group of Cleveland
Chairman International Steel Group since helping to create the company in 2002.
Chairman and Chief Executive Officer, W.L. Ross & Co., a private investment firm specializing in revitalizing troubled and bankrupt companies.
Biggest investments include: Fruit of the Loom, $835 million; Burlington Industries, $600 million; LTV Corp., $325 million; Clarent Hospital Corp., $275 million; Kansai Sawayaka Bank (Japan), $220 million.
Connection to Bethlehem Steel Brownfields Redevelopment:
Under Ross' rule, the International Steel Group has continued negotiations with the Delaware Valley Real Estate Development Trust for the development of Bethlehem Works, but Ross has not promised the preservation of any existing structures on the site.
ISG also is handling all negotiations for the Bethlehem Commerce section of the brownfields, which it has slated to be developed into industrial and office parks by Lehigh Valley Industrial Park Inc. and Majestic Realty.
As of December 2003, all development projects and negotiations were on hold pending a legal challenge against ISG from Preferred Real Estate of Conshohocken.
Preferred Real Estate claims to have an earlier agreement with ISG to develop portions of the brownfields, which ISG is alleged to have broken by turning to LVIP and Majestic as developers.
See related articles:
Wilbur Ross: 'Vulture investor' stalking Steel November 10, 2002
Steel bankruptcy approved, ending a Lehigh Valley era April 23, 2003
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