Columbus Castings: Columbus Castings suitor was willing to lose if it meant saving jobs

The Columbus Castings auction last week was, for the most part, all business. The two main bidders, Stellex Capital Management and Reich Brothers LLC, traded bids until finally, after more than 100 rounds, Reich's offer of nearly $30 million won out. But a surprising bit of selflessness was displayed by the privately owned Park Corp. An executive of the Cleveland conglomerate told the attorney holding the auction that he didn't want to outbid Stellex because the New York City private equity...