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Hotel heiress nominated as Secretary of Commerce
Hyatt Hotel heiress Penny Pritzker has been nominated as Secretary of Commerce by President Barack Obama.
Pritzker is a Stanford University-trained lawyer with a net worth of about $1.85 billion.
She is an early and faithful supporter of Obama and of the Democratic Party. She served as national finance chair for Obama’s first presidential campaign in 2008, raising $750 million, and co-chair for his 2012 race.
Pritzker is founder and chairman of real-estate and investment firm PSP Capital Partners and its affiliate, Pritzker Realty Group. She also sits on the Board of Hyatt Hotels Corp., which her uncle founded in 1957.
There are those who oppose her appointment. Hyatt Corp. has had some run-ins with the Unite Here labor union, which has called it "the worst hotel employer in America" for opposing the unionization of workers and then failing to negotiate a new contract.
And the Obama inner circle already has its share of Chicagoland appointees.
But still, the travel industry is happy to have an insider being considered for the Cabinet.
US Travel Association president and CEO Roger Dow called Pritzker a proven professional with a "successful track record as an innovative business leader and entrepreneur."
By Cheryl Rosen
Cheryl
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