A multimillion-dollar lawsuit has been quietly making its way through the New York State court system over the last three years, pitting a private equity manager named David Storper against his former boss: Secretary of Commerce Wilbur Ross. The pair worked side by side for more than a decade, eventually at the firm, WL Ross & Co.—where, Storper later alleged, Ross stole his interests in a private equity fund, transferred them to himself, then tried to cover it up with bogus paperwork. Two weeks ago, just before the start of a trial with $4 million on the line, Ross and Storper agreed to a confidential settlement, whose existence has never been reported and whose terms remain secret.
It is difficult to imagine the possibility that a man like Ross, who Forbes estimates is worth some $700 million, might steal a few million from one of his business partners. Unless you have heard enough stories about Ross. Two former WL Ross colleagues remember the commerce secretary taking handfuls of Sweet’N Low packets from a nearby restaurant, so he didn’t have to go out and buy some for himself.
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From Mail Online:
Oops, there goes Rick Perry’s bid for the Republican presidential nomination.
The Texas governor sensationally self-destructed in one of the most cringe-worthy moments in debate history last night when he forgot one of the chief elements of his own economic plan.
Trying to explain the three government agencies he would axe, the one-time Republican favorite crashed and burned as he tried in vain to remember them all.
From The Washington Post:
Saying he “made a mistake,” Republican Sen. Judd Gregg withdrew yesterday as the nominee for commerce secretary, dealing a fresh blow to President Obama’s quest to fill out his Cabinet and dramatically undercutting his efforts to forge a new bipartisanship in the capital.
Gregg said that he had simply lacked foresight and that he shouldered the burden of the decision entirely. “I should have focused sooner and more effectively on the implications of being in the Cabinet versus myself as an individual doing my job,” he said at a news conference on Capitol Hill.
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