Saturday, April 22, 2017

Trump Sons Eye Domestic Expansion

Apprentices no more, Eric and Donald Trump Jr. are now at the helm of the Trump Organization and adjusting to the reality presented by their father's Presidency. They're eyeing ways to use the new lease on the family fame by expanding the brand into parts of the United States that embrace him and voted for him in November 2016.

Some business has slowed as a result of the pledge to stall international deal making while Trump is President. But a U.S. push is planned, and two new Hotel Chains are being considered, a Four-Star Brand and a less luxurious line. "I think it makes it naturally easier if you're going into a place that's not adversarial to you," Donald Trump Jr. said in a recent interview.

Last fall, the Company announced the creation of a Four-Star Hotel Chain called Scion, which is meant to offer upscale service in U.S. Cities that could not support a full-fledged Trump Luxury property. More than two dozen Letters of Intent have been signed, though no ground has been broken yet. Among the possible locations being considered: Texas, parts of the South, and perhaps the Nation's Capital, where the Hotel would exist with the Trump Luxury property in the former home of the Old Post Office not far from the White House. The Company is also in the very early stages of considering a Three-Star Hotel Chain.

"It's a complicated procedure that changes the dynamic. There are plenty of deals that two years ago or eight years from now, 'Oh, yeah, you can do this,'" he said. "Today, we have to take that much more seriously. There is an optical component that has to be taken into account."

Eric Trump said he does talk to his Father more regularly but insists that any discussions about the Family Business are limited to broad strokes and adheres to the Guidelines the President laid out in January. "We don't talk about the business. At most it's 'How's Turnberry? Turnberry's great,'" Eric Trump said, referring to a Trump Golf property in Scotland. He would tell his father, if asked, "A profit or loss in a quarter, that's it." "That doesn't talk about any business sectors, that doesn't talk about any assets, that doesn't talk about anything specific in the business. That is a pure number, one number on a piece of paper," Eric Trump said. "That's more than permissible. None of these laws even apply to him — he's the president — but that is more than permissible in a trust structure."

Experts disagree, noting that it is not a true Trust Structure because Trump retained Ownership of the Company. "As long as President Trump insists on owning the Trump Organization, the conflicts of interest that may occur run directly to him and the so-called firewall plays no role in preventing them," said Fred Wertheimer, Head of the Ethics Watchdog group Democracy 21. "It's an illusion and does not protect the American people."

There is a Domestic Emoluments Clause that Congress can't Waiver. This Clause deals with receive compensation from Domestic Business in the U.S.

This little-known Provision of the U.S. Constitution, known as the Domestic Emoluments Clause or the Presidential Compensation Clause, provides: "The President shall, at stated Times, receive for his Services, a Compensation, which shall neither be increased nor diminished during the Period for which he shall have been elected, and he shall not receive within that Period any other Emolument from the United States, or any of them."

This also is the Clause that made Trump take a Salary, that he says he will donate. His 1st Quarter Salary was donated to the National Park Service.

NYC Wins When Everyone Can Vote! Michael H. Drucker
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