Quotes from Reuters Restructuring Summit: Tuesday

NEW YORK (Reuters) - Here is a selection of quotes from Reuters Restructuring Summit in New York on September 29.

BARRY RIDINGS, VICE CHAIRMAN OF U.S. INVESTMENT BANKING, LAZARD:

ON PRIVATE EQUITY: "They used to be vultures, now they're loan-to-own."

JAMES SPRAYREGEN, BANKRUPTCY ATTORNEY, KIRKLAND & ELLIS:

ON A LULL IN BANKRUPTCIES:

"If you have the option of not going into a restructuring, there are more people taking it right now than there were before ... Maybe things will be better over the hill or around the corner, but I don't think anyone is saying 'happy days are here again'."

WILBUR ROSS, CHAIRMAN AND CEO, WL ROSS & CO:

ON THE VALUE OF RAIL: "I am a little surprised frankly that the green people haven't focused more on developing railroad ... For the moment people seem transfixed with the more exotic things, the wind and the solar and all that business, rather than simpler solutions."

LYNN TILTON, CHIEF EXECUTIVE, PATRIARCH PARTNERS:

ON SHOPPING: "I think it's going to be a sad holiday season."

ON U.S. INDUSTRY: "Do we truly believe we no longer need to be the maker of things in this country? We are letting industry die every day."

CORINNE BALL, BANKRUPTCY ATTORNEY, JONES DAY:

ON DISTRESSED INVESTING: "I think right now things are a little slower because investors are really thinking about where to invest, rather than the crisis that we're running out of cash."

KENNETH FRIEZE, PRINCIPAL, GORDON BROTHERS GROUP:

ON CONSUMERS: "There was this whole demographic of aspirational shoppers. It was very cool to have the latest handbag. Now there's a shift and a snap back in the other direction. It's not so great to be driving into your driveway in a brand new car, or coming home with the new bag. It's chic to be green to recycle, to be more humble and that of course has directly affected retail sales."

(Compiled by Reuters reporters)