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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsMrs. Mitch McConnell: Elaine Chao still holds stock in company she pledged to sell
According to the Journal's report on Chao's financial disclosure forms and related documents, the Trump Cabinet official has maintained her holdings in Vulcan Materials -- holdings that have gained more than $40,000 over the past year.
In an ethics agreement at the outset of the Trump administration, Chao told the Office of Government Ethics that she would not "participate personally and substantially in any particular matter in which I know that I have a financial interest," and said she would resign her position with Vulcan Materials and anticipated receiving a cash payout for her "vested deferred stock units" in 2018, the year after she would separate from the company.
A 2018 financial disclosure form with OGE from Chao said again that she would receive a cash payment from Vulcan Materials, but the Journal said she was instead compensated for exiting the company in shares of the company stock and continued to hold it, rather than be cashed out.
https://www.cnn.com/2019/05/28/politics/elaine-chao-vulcan-materials-stock/index.html
Wellstone ruled
(34,661 posts)what a bunch of corrupt bastards.
guillaumeb
(42,641 posts)empedocles
(15,751 posts)guillaumeb
(42,641 posts)The idea of fake news is so destructive. Possibly one of the most destructive of the GOP memes.
empedocles
(15,751 posts)the town hall turnout in very conservative Grand Rapids, the news of trump support softening among trump senior voters [who see more of the old line network news], softening of the stock markets, etc.
My sense is that among half of the trump 40%, has soft spots that are flippable. Part of that softeness may come from trump himself insulting or screwing up on nearly everyone at one time or another.
guillaumeb
(42,641 posts)is it driven by economics? Are these wavering Trump voters concerned only about their economic interests? And do they ignore Trump's gross racism?
empedocles
(15,751 posts)or often, to realize how little many out there know of politics - or care to know. Staggering, actually.
guillaumeb
(42,641 posts)Considering many who call themselves informed voters do not even know who their own Congressmembers are, their claim to being well informed is laughable.
struggle4progress
(118,041 posts)BY ASHER STOCKLER ON 5/28/19 AT 4:36 PM EDT
... A 2017 ethics agreement from Chao ahead of her Cabinet appointment said she would cash out her vested deferred stock from Vulcan, on whose board she was serving, in April 2018. The Journal reported that, despite this arrangement, Chao has decided to retain her shares in Vulcan while serving as President Trump's transportation secretary.
Vulcan's rising share price over the last year means Chao's stock is now worth over $40,000 more than it was in April last year.
The agreement also specified that Chao would not participate personally and substantially in any decision that could impact Vulcans bottom line.
Vulcan is the nations largest provider of construction aggregates, which are rudimentary materials used in infrastructure projects such as crushed stone, sand and gravel, according to the companys website ...
https://www.newsweek.com/transportation-secretary-elaine-chao-shares-1437462
Now there's a nice impeachment target
KG
(28,749 posts)BigmanPigman
(51,432 posts)Greedy Old Party of hypocrites.
madaboutharry
(40,153 posts)They are disgraceful. Chao is as big a phony and fraud as her husband.
When she was Labor Secretary during The Bush 43 administration she did not know the amount of the minimum wage. She was asked during a hearing and couldnt answer. She finally said Seven something.
spanone
(135,636 posts)Achilleaze
(15,543 posts)MFGsunny
(2,356 posts)gratuitous
(82,849 posts)I just made that rule up, but now it's binding on everyone forever.
question everything
(47,271 posts)Spouse says that they treat the Democrats the way the South used to treat the blacks.