Bloomberg Politics: Tracking Trump’s Web of Conflicts

The following is an excellent article written by Michael Keller, Blacki Migliozzi, Caleb Melby and Mira Rohanasakul on the Bloomberg website on December 1, 2016 titled “Tracking Trump’s Web of Conflicts” and I quote:

“Tracking Trump’s Web of Conflicts”

By Michael Keller, Blacki Migliozzi, Caleb Melby and Mira Rojanasakul

Published: December 1, 2016 | Last updated: December 2, 2016
Donald Trump’s sprawling business ties at home and abroad raise questions about how his personal interests could influence the policies he’ll pursue as president. Where he has business interests abroad, his stock portfolio, his debts and ongoing government action against him and his companies have already complicated the transition and could be a recurring problem for his presidency. After previously claiming these ties posed no legal issues, Trump announced on Nov. 30 that he plans to leave his business, though he provided no details. His organization declined to comment about its investments or potential conflicts. Here’s what we know about Trump’s interests around the world.

He has business interests in at least 23 countries

Trump has earned millions of dollars plastering his name on hotels and condominium towers that were built or are owned by international partners, some in countries that are political flashpoints. Short of selling the company, it will be difficult to fully remove himself, experts say. If he or his children still own the company, Trump could be accused of violating the emoluments clause of the Constitution, which bans gifts to U.S. officials from foreign governments. Trump could run afoul of this provision through the process of obtaining permits or through dealings with business partners who often have ties to foreign governments.

India
U.A.E.
Argentina
Azerbaijan
Brazil
China
Cuba
Egypt
Georgia
Indonesia
Ireland
South Korea
Panama
Philippines
Saudi Arabia
Turkey
Uruguay
USA
Israel
Canada
U.K.
St. Martin
Bermuda
Argentina
Trump Tower
Buenos Aires

Project under development to build a tower, pending government approvals. Partners Felipe Yaryura and Moses Yellati of the YY Development Group are close with the Trumps, and Yaryura attended the election night party in New York.

Azerbaijan
Trump International Hotel & Tower
Baku

Licensed his name for a hotel-condo tower under development with Garant Holding. Its chairman, Anar Mammadov, is the son of the country’s transport minister who has been suspected by U.S. diplomats of laundering money for Iran, according to the Associated Press. Construction of the hotel is finished, but it is not yet open.

Brazil
Trump Towers
Rio de Janeiro

Licensing deal for five office towers in Brazil currently under development by Bulgarian partner MRP Group. Brazil is currently investigating investment irregularities in the project.

Trump Hotel
Rio de Janeiro

Licensing deal on a beachfront hotel with Brazilian partner LSH Barra. The property officially opened prior to the Olympics, but some portions of it are still under construction.

Bermuda
Company

Trump lists a company on his FEC filing possibly related to business in Bermuda: DJ Aerospace (Bermuda) Ltd..

Canada
Trump International Hotel & Tower
Vancouver

Licensing and management deal for a hotel-condo tower under development in Vancouver with the Holborn Group owned by Joo Kim Tiah, the son of one of Malaysia’s wealthiest real estate investors.

Trump Tower
Toronto

Licensing and management deal with Talon International for a tower, which was placed into receivership by a bankruptcy judge. The building has been subject to investor lawsuits. Trump’s partners on the project were firms associated with Russian-born billionaire Alex Shnaider and others.

China
Companies, possible development

In October, Trump Hotels CEO Eric Danziger told Chinese media that he plans to open locations in 20 to 30 Chinese cities, plus more under the Trump Organization’s new Scion brand. Industrial & Commercial Bank of China Ltd., the world’s largest lender, is a tenant of Trump Tower in Manhattan. Trump lists multiple companies on his FEC filing possibly related to business in China: THC China Technical Services Manager Corp., THC China Technical Services LLC, THC Services Shenzhen LLC, THC Services Shenzhen Member Corp., THC Shenzhen Hotel Manager LLC, THC Shenzhen Hotel Manager Member Corp. The Trump Organization has used similar naming conventions for companies associated with previous international licensing deals.

Cuba
Possible development

Trump Organization executives have traveled to Cuba for years. Asked on CNN in March if he’d be interested in opening a hotel there, Trump said: “I would, I would—at the right time, when we’re allowed to do it. Right now, we’re not.” In July he told a Miami TV station that “Cuba would be a good opportunity [but] I think the timing is not right.” At a Dec. 1 event, Miguel Fluxa, CEO of Spanish hotelier Grupo Iberostar, said the Trump Organization had been looking to buy hotels in the country within the last six months. “In the last 12 months, many major competitors have sought opportunities in Cuba,” Amanda Miller, vice-president of marketing at the Trump Organization, said in an e-mailed statement in response to Fluxa’s comments. “While it is important for us to understand the dynamics of the markets that our competitors are exploring, we do not intend to expand into Cuba nor have we ever done any business there.”

Egypt
Companies

Trump lists two companies on his FEC filing possibly related to business in Egypt: Trump Marks Egypt and Trump Marks Egypt LLC.

Georgia
Trump Tower and resort project
Tbilisi and Batumi

Trump lists two companies on his FEC filing possibly related to business in the Republic of Georgia: Trump Marks Batumi and Trump Marks Batumi Member Corp. In 2011, he signed a licensing deal to use his name on two projects, developed by the Silk Road Group, in the former Soviet state: a tower in the capital of Tbilisi and a casino resort in Batumi, on the Black Sea. Then-President Mikheil Saakashvili sought out Trump to develop the project and attended the signing ceremony at Trump Tower in New York.

India
Trump Towers and companies
Mumbai, Pune and Kolkata

Licensed his name for two projects in development in India—one in Mumbai with Lodha Group and another with Panchshil Realty for two towers in Pune. Trump recently met with his project partners, who also have ties to the Indian government, raising questions of a potential conflict. On his FEC filing, he lists two companies possibly related to a project in Kolkata: DT Tower Kolkata LLC and DT Tower Kolkata Managing Member Corp.

Indonesia
Trump International Hotel & Tower
Lido and Bali

Trump Hotels has plans to open two properties in Indonesia. He received up to $5 million last year, according to his personal financial disclosure, from MNC Group, a Jakarta-based media company.

Ireland
Trump International Golf Links
Doonbeg

Trump bought Doonbeg Golf Club in Ireland in 2014 and promised to invest €45 million ($47.6 million). The annual report for that year, the most recent available, shows the course losing money.

Israel
Companies

Trump lists two companies on his FEC filing possibly related to business in Israel : Trump Drinks Israel LLC, Trump Drinks Israel Member Corp.

Panama
Trump Ocean Club International Hotel & Tower
Panama City

Licensing deal on hotel-condo tower currently in operation developed by local partner Newland International Properties Corp.

Philippines
Trump Tower
Makati

Licensing deal on a luxury residential tower under development with Century Properties Group, whose shares surged 20 percent the day after Trump was elected. The country’s new special envoy to the U.S., Jose E.B. Antonio, is the CEO of Century Properties.

St. Martin
Companies

Trump lists two companies on his FEC filing registered in St. Martin, French West Indies: Excel Venture I LLC and Excel Venture I Corp. The companies are tied to residential rental properties, according to the disclosure.

Turkey
Trump Towers
Istanbul

Licensing deal to use his name on two currently operating luxury towers, one commercial and one residential, for which he received as much as $5 million last year, according to his latest financial disclosure. Shares in Dogan Sirketler Grubu Holding, his partner on the project, surged almost 11 percent after Trump’s victory. Trump said in an interview with Breitbart News that “I have a little conflict of interest, because I have a major, major building in Istanbul.”

Trump Home
Istanbul

Licensing deal with Dorya International to manufacture Trump-branded furniture. Dorya President and CEO F. Doruk Yorgancioglu was quoted saying that the line sells well in places like Dubai, Istanbul, China and Russia.

Saudi Arabia
Companies
Jeddah

Trump lists companies on his FEC filing possibly related to a development project in Jeddah, Saudi Arabia’s second-biggest city, located outside Mecca: DT Jeddah Technical Services Manager LLC, DT Jeddah Technical Services Manager Member Corp., THC Jeddah Hotel Manager LLC and THC Jeddah Hotel Manager Member Corp.

South Korea
Trump World
Seoul, Busan and Daegu

Six luxury condominum towers in Seoul, Busan and Daegu erected in 2007 by Daewoo Corp., which paid Trump for use of his name. Daewoo had previously built Trump World Tower in Manhattan.

United Arab Emirates
Trump Golf courses
Dubai

The Trump Organization has a licensing and management deal in Dubai with Damac Properties Dubai Co. for a golf course and luxury villas currently under construction. Another Trump-branded golf course, designed by Tiger Woods, is under development with Damac nearby.

United Kingdom
Trump Turnberry
Turnberry, Scotland

Trump bought Turnberry, one of Scotland’s most iconic golf courses, in 2014 for about £41 million ($51 million). It lost £8.4 million in 2015.

Trump International Golf Links Scotland
Aberdeen, Scotland

He built from scratch a course north of Aberdeen against opposition from environmentalists. It, too, has failed to make a profit, losing £1.1 million in 2015. Also in that year, Trump lost a years-long fight with Scottish lawmakers to halt the construction of an offshore wind project being built near the golf course. Trump told the New York Times that he “might have brought it up” in a conversation with Nigel Farage, the former leader of the right-wing U.K. Independence Party, whom Trump has recommended for an ambassador position to the U.S.

United States
Trump Tower
New York

The state-controlled Chinese bank, Industrial & Commercial Bank of China Ltd., leases space in Trump Tower and is due to renegotiate its lease in 2019. This presents a possible conflict under the Constitution’s emoluments clause, which bars gifts from foreign governments.

Uruguay
Trump Tower
Punta del Este

Licensing deal to develop a residential tower with Aetos SA, a company affiliated with YY Development, which is also Trump’s partner in Argentina.

He holds millions in stock

Trump has millions of dollars at stake in many of the Wall Street businesses he railed against during the campaign, according to his FEC filing. Now he could stand to benefit from some of his policy proposals, such as weaker financial regulation or increased oil and gas development. His stocks would be one of the easiest assets to liquify and put into a blind trust.

Up to $38 M
Banking
$10,474,009
Top companies: Royal Bank of Canada, JPMorgan Chase, Citigroup, Wells Fargo, Toronto Dominion Bank, Bank of Nova Scotia
Technology
$5,413,013
Top companies: Apple, Alphabet (Google), IBM, Microsoft, Intuit, Salesforce, NXP Semiconductors, Cognizant Tech Solutions, Cisco Systems, Broadcom
Oil, Gas & Coal
$3,900,010
Top companies: Chevron, Total Capital, Occidental Petroleum, Phillips 66, Halliburton, Exxon Mobil, EOG Resources, Schlumberger, Energy Transfer Partners
Finance
$2,472,007
Top companies: Morgan Stanley, American Express, Visa, Discover, Ameriprise Financial
Automotive
$2,065,000
Top companies: Ford, Toyota, Borg Warner
Consumer Products
$1,895,015
Top companies: Pepsico, Kraft-Heinz, Mead Johnson Nutrition, Proctor & Gamble, Congra, JM Smucker Company, Jarden
Machinery
$1,617,002
Top companies: John Deere, Caterpillar, Parker Hannifin
Health Care
$1,505,005
Top companies: Thermo Fisher Scientific, McKesson, Express Scripts, HCA Holdings
Insurance
$1,160,000
Top companies: Berkshire Hathaway, Prudential
Media
$1,155,005
Top companies: Comcast, Walt Disney, Twenty First Century Fox
Telecom
$1,128,003
Top companies: AT&T, T-Mobile
Commercial Services
$1,100,000
Top companies: Ecolab
Biotech & Pharma
$1,090,010
Top companies: Gilead Sciences, Johnson & Johnson, Celgene, Merck, Medivation, Pfizer, Shire
Metals & Mining
$1,030,000
Top companies: BHP Billiton
Stock data from Trump’s May 2016 FEC filing show industries with up to $1 million or more invested

He has debts to lenders

Trump’s businesses held at least $630 million of debt as of July, owed to international lenders such as Deutsche Bank and UBS. Vornado Realty Trust, the majority owner of two towers in which Trump also has a stake, owes money to Goldman Sachs and Bank of China. Trump has refused to disclose his tax returns, so it’s impossible to know if he has additional debts not tied to his businesses.

At least $630 M
Bank of China

Bank of China holds part of a $950 million loan on an office building, 1290 Avenue of the Americas, in Manhattan. Trump has a 30 percent stake in the project.

Deutsche Bank

Deutsche Bank is Trump’s biggest lender. The German company owns about half of the billionaire’s outstanding debt in loans tied to Trump’s hotel in Washington and Doral, a Miami golf resort. Unrelated to its loans to Trump, the bank is currently in settlement talks with the Department of Justice over the sale of mortgage securities.

Ladder Capital

Ladder Capital is Trump’s second-biggest lender. The New York-based firm has issued loans against Trump’s older real estate assets, including Trump Tower and 40 Wall St., an office tower, in Manhattan.

Government agencies have been reviewing his businesses

Before he was elected, Trump, his businesses and his financial partners were involved with several federal agencies. With billions of dollars, and possible criminal charges, at stake, he’ll now oversee and appoint people to lead these same agencies.

General Services Administration

Trump holds a 60-year lease to run Trump International Hotel in Washington’s historic Old Post Office. He paid about $200 million in renovation costs and will pay $3 million a year in rent to the General Services Administration. The lease agreement appears to forbid any elected official from being involved in the property.

Internal Revenue Service

Trump’s taxes are currently under audit by the IRS. The commissioner is appointed by the president to five-year terms. The current commissioner’s term expires in 2018. The IRS is housed under the office of the Deputy Secretary of the Treasury within the Treasury Department. Trump will nominate new people for those positions.

Justice Department

Trump owes Deutsche Bank AG, his largest lender, about $300 million in loans against his Washington hotel and his Doral resort in Florida. Unrelated to its business with Trump, the Justice Department is in settlement talks with Deutsche Bank over its sale of mortgage-backed securities ahead of the 2008 financial crisis. Trump is set to name a new attorney general to run the Justice Department.

National Labor Relations Board

Trump International Hotel Las Vegas has asked a U.S. appeals court to overturn a ruling by the National Labor Relations Board finding the company in violation of federal law for refusing to bargain with a local union. Trump will appoint members of the NLRB board, which hears cases involving unfair labor practice allegations.

Treasury Department and Federal Reserve

According to his FEC Filing, Trump has hundreds of millions in loans to cover his real estate projects, which could be affected by U.S. monetary policy. While the Fed is structured to be resistant to changes in administration, Trump took aim at Fed Chair Janet Yellen during the campaign and, with the help of Congress, could take steps to change how the central bank operates.

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About tim074

I'm a retired dairy farmer that was a member of the National Farmer's Organization (NFO). Before going farming, I spent 4 years in the United States Air Force where I saved up enough money to get my down payment to go farming. I also enjoy writing and reading biographies and I write about myself as well as articles and excerpts I find interesting. I'm specifically interested in finances, particularly in the banking industry because if it wasn't for help from my local Community Bank, I never could have started farming which I was successful at. So, I'm real interested in the Small Business Administration and I know they are the ones creating jobs. I have been a member of Common Cause and am now a member of Public Citizen as well as AARP. I have, in the past, written over 150 articles on the Obama Blog (my.barackobama.com) and I'd like to tie these two sites together. I'm also on Twitter, MySpace and Facebook and find these outlets terrifically interesting particularly what many of these people did concerning the uprising in the Arab world. I believe this is a smaller world than we think it is and my goal is to try to bring people together to live in peace because management needs labor like labor needs management. Up to now, that hasn't been so easy to find.
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