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Trump has taken few steps to disentangle from private empire
Source: Associated Press
Trump has taken few steps to disentangle from private empire
By JULIE BYKOWICZ and CHAD DAY
Jan. 8, 2017 1:13 PM EST
WASHINGTON (AP) — President-elect Donald Trump pledged to step away from his family-owned international real estate development, property management and licensing business before taking office Jan. 20. With less than two weeks until his inauguration, he hasn't stepped very far.
Trump has canceled a handful of international deals and dissolved a few shell companies created for prospective investments. Still, he continues to own or control some 500 companies that make up the Trump Organization, creating a tangle of potential conflicts of interest without precedent in modern U.S. history.
The president-elect is expected to give an update on his effort to distance himself from his business at a Wednesday news conference. He told The Associated Press on Friday that he would be announcing a "very simple solution."
Ethics experts have called for Trump to sell off his assets and place his investments in a blind trust, which means something his family would not control. That's what previous presidents have done.
Trump has given no indication he will go that far. He has said he will not be involved in day-to-day company operations and will leave that duty to his adult sons, Eric and Donald Trump Jr. The president-elect has not addressed the ethical minefield of whether he would retain a financial interest in his Trump Organization.
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By JULIE BYKOWICZ and CHAD DAY
Jan. 8, 2017 1:13 PM EST
WASHINGTON (AP) — President-elect Donald Trump pledged to step away from his family-owned international real estate development, property management and licensing business before taking office Jan. 20. With less than two weeks until his inauguration, he hasn't stepped very far.
Trump has canceled a handful of international deals and dissolved a few shell companies created for prospective investments. Still, he continues to own or control some 500 companies that make up the Trump Organization, creating a tangle of potential conflicts of interest without precedent in modern U.S. history.
The president-elect is expected to give an update on his effort to distance himself from his business at a Wednesday news conference. He told The Associated Press on Friday that he would be announcing a "very simple solution."
Ethics experts have called for Trump to sell off his assets and place his investments in a blind trust, which means something his family would not control. That's what previous presidents have done.
Trump has given no indication he will go that far. He has said he will not be involved in day-to-day company operations and will leave that duty to his adult sons, Eric and Donald Trump Jr. The president-elect has not addressed the ethical minefield of whether he would retain a financial interest in his Trump Organization.
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Read more: http://bigstory.ap.org/article/bdd6cc9566a648e0b4d49c6d8808cccd/trump-has-taken-few-steps-disentangle-private-empire
4 replies
= new reply since forum marked as read
= new reply since forum marked as read
Nor will he just sign all this over to his kids. Oh boy...another "Wednesday" news conference that most likely will NOT happen.
