Thread: Trump's Businesses And Potential Conflicts: Sorting It Out

Trump's Businesses And Potential Conflicts: Sorting It Out
December 5, 20167:00 AM ET


MARILYN GEEWAX
Twitter
MARIA HOLLENHORST




Standing with his son Eric, wife Melania, and daughters Tiffany and Ivanka, Donald J. Trump cuts the ribbon for his latest property, the Trump International Hotel in Washington, D.C., on Oct. 26.

NurPhoto via Getty Images

Trying to understand the Trump Organization is a daunting task. President-elect Donald Trump has not released tax documents, so the best clues about his privately held business interests come from a financial disclosure form he released in May.

The document covers scores of pages with small type, and suggests he is financially involved with hundreds of companies, including some that simply license his name.

A sort through that disclosure form, submitted to the Office of Government Ethics, shows his largest sources of revenue are golf courses and office-tower rents. But his interests are far flung, and include media, retail, entertainment and much more.

Those business interests are affected by government agencies and policies. Below is an overview of some of his business assets and operations (excluding debts) and the possible areas where conflicts may arise.

THE TWO-WAY

Not A Hack: U.S. Office Of Government Ethics Tweets At Trump


Trump himself noted that there are ethical concerns about his dealings. He said in tweetsthat he would hold a "major news conference" on Dec. 15 with his children to address the issue. (Editor's note: Thepress conference was later canceled, just days before it was meant to take place, and rescheduled for January.)

"While I am not mandated to do this under the law, I feel it is visually important, as President, to in no way have a conflict of interest with my various businesses," Trump tweeted. He said "legal documents are being crafted which take me completely out of business operations."
But at this time, he has not explained his plans.

NOTE: All companies, locations and revenues listed below are as reported by the Trump Organization in his Office of Government Ethics filing. Revenues shown are for January 2015 through May 15, 2016. In most cases, the company reported revenues; in some, only ranges. We are excluding sources of investment income unrelated to Donald Trump's businesses or employment. We are including only revenue-generating assets and activities that discernibly fall into the categories below, based on the description reported on the form.

International / Golf Courses / Hotels / Real Estate / Entertainment / Food And Beverage /Retail / Aircraft

---

International

Trump has business interests in at least 20 countries, primarily India, the Philippines and Indonesia and other developing nations. His foreign policy decisions could have a big impact on profits earned outside of the United States.
PARALLELS

Who's The New Philippine Envoy? The Man Building Trump Tower Manila


One example: The Philippines' new trade envoy to the United States is Jose E.B. Antonio — the man building Trump Tower at Century City, a 57-story luxury building nearing completion in Manila, the Philippines' capital.

Will Donald Trump's policies involving the Philippines affect profits from his property in Manila? Will competing U.S. corporations — say, Marriott International Luxury Brands — get fair treatment there?

Trump's overseas business operations could put him into conflict with the policies and plans of the State Department, the Pentagon and the U.S. Trade Representative.

• Trump Turnberry
  Type: Golf club
  Location: Turnberry, Scotland
  Revenue: $18.2 million (golf-related revenue)
• Trump International Golf Links - Doonbeg
  Type: Golf course and resort
  Location: Doonbeg, Ireland
  Revenue: $10.8 million (golf-related revenue)
• DT Dubai Golf Manager LLC
  Type: Management company
  Location: Dubai, UAE
  Revenue: $1 million to 5 million
• DT Dubai II Golf Manager LLC
  Type: Management deal with FRONTLINE investment Management Co LLC
  Location: Dubai, UAE
  Revenue: $1 million to 5 million (royalties)
• DT Marks Bail LLC
  Type: License deal
  Location: Bali, Indonesia
  Revenue: $1 million to 5 million (royalties)
• DT Marks Lido LLC
  Type: License deal
  Location: Lido, Indonesia
  Revenue: $1 million to 5 million (royalties)
• DT Marks Worli LLC
  Type: License deal
  Location: New York
  Revenue: $1 million to 5 million (royalties)
• Trump Marks Istanbul II LLC
  Type: License deal and bank account
  Location: New York
  Revenue: $1 million to 5 million (royalties)
• Trump Marks Panama LLC
  Type: License deal and bank account
  Location: New York
  Revenue: $1 million to 5 million
• Trump Marks Philippines
  Type: License deal
  Location: New York
  Revenue: $1 million to 5 million (royalties)
• Trump International Golf Links - Scotland
  Type: Golf course
  Location: Turnberry, Scotland
  Revenue: $4.9 million (golf-related revenue)
• Tag Air Inc
  Type: Bank account
  Location: New York
  Revenue: $3.7 million (aircraft-related revenue)
• Trump Canouan Estate LLC
  Type: Land
  Location: St. Vincent and the Grenadines
  Revenue: $3 million
• Caribusiness Investments SRL
  Type: Land
  Location: Dominican Republic
  Revenue: $2 million
• Trump Panama Hotel Management Corp
  Type: Management company
  Location: New York
  Revenue: $1.3 million (management and related fees)
• Trump Toronto Management Corp
  Type: License deal
  Location: New York
  Revenue: $611,864 (management and related fees)
• THC Baku Services LLC
  Type: Management company
  Location: Baku, Azerbaijan
  Revenue: $323,150 (management and related fees)
• Excel Venture I LLC
  Type: Residential rental property
  Location: St. Martin, French West Indies
  Revenue: $100,000 to 1 million (rent)
• Trump Marks Punta Del Este LLC
  Type: License deal
  Location: Punta Del Este, Uruguay
  Revenue: $100,000 to 1 million (royalties)
• DT Bali Technical Services Manager LLC
  Type: Management
  Location: Bali, Indonesia
  Revenue: $83,333 (management and related fees)
• DT Lido Technical Services Manager LLC
  Type: Management company
  Location: Lido, Indonesia
  Revenue: $83,333 (management and related fees)
• DT Connect Europe Limited
  Type: Aircraft
  Location: Scotland
  Revenue: $15,000 to 50,000 (rent)
• THC Vancouver Management Corp
  Type: Management company
  Location: Vancouver, Canada
  Revenue: $35,714 (management and related fees)
• DT Marke Pune LLC
  Type: License deal and bank account
  Location: New York
  Revenue: Less than $200 (royalties)
• DT Marks Dubai LLC
  Type: License deal
  Location: Dubai, UAE
  Revenue: Less than $200
• THC China Development LLC
  Type: Developer
  Location: New York
  Revenue: Less than $200
• Trump Marks Asia LLC
  Type: Residential real estate
  Location: Virginia
  Revenue: Less than $200
• TW Venture II LLC
  Type: Golf course and resort
  Location: Doonbeg, Ireland
  Revenue: Less than $200

Golf Courses

Many federal agencies regulate environmental issues involving golf courses — including theU.S. Army Corps of Engineers and the Environmental Protection Agency, which often are at odds with course owners regarding water storage and storm water ditches.

Trump already has complained about wind farms cluttering the views from his Scottish golf courses; presumably he would have the same concerns in this country. Golf courses also can be helped — or harmed — by flight patterns controlled by the Federal Aviation Administration.

• Trump National Doral
  Type: Golf course and resort
  Location: Florida
  Revenue: $131.9 million (golf-related revenue)
• Trump National Golf Club - Los Angeles
  Type: Golf course
  Location: California
  Revenue: $26.9 million (golf-related revenue and a land sale)
• Trump National Golf Club - Bedminster
  Type: Golf club
  Location: New Jersey
  Revenue: $20.6 million (golf-related revenue)
• Trump Turnberry
  Type: Golf club
  Location: Scotland
  Revenue: $18.2 million (golf-related revenue)
• Trump National Golf Club - Jupiter
  Type: Golf club
  Location: Florida
  Revenue: $17.9 million (golf-related revenue)
• Trump International Golf Club - Florida
  Type: Golf club
  Location: Florida
  Revenue: $17.5 million (golf-related revenue)
• Trump National Golf Club Washington DC
  Type: Golf club
  Location: Virginia
  Revenue: $17.5 million (golf-related revenue)
• Trump National Golf Club - Charlotte
  Type: Golf club
  Location: North Carolina
  Revenue: $14.1 million (golf-related revenue)
• Trump International Golf Links - Doonbeg
  Type: Golf course and resort
  Location: Ireland
  Revenue: $10.8 million (golf-related revenue)
• Trump Nation Golf Club - Westchester
  Type: Golf club
  Location: New York
  Revenue: $10.3 million (golf-related revenue)
• Trump Ferry Point LLC
  Type: Operating agreement with the New York City Department of Parks and Recreation
  Location: New York
  Revenue: $7.9 million (golf-related revenue)
• Trump National Golf Club - Colts Neck
  Type: Golf club
  Location: New Jersey
  Revenue: $7.5 million (golf-related revenue)
• Trump National Golf Club - Philadelphia
  Type: Golf club
  Location: New Jersey
  Revenue: $5.6 million (golf-related revenue)
• Trump National Golf Club - Hudson Valley
  Type: Golf club
  Location: New York
  Revenue: $5.6 million (golf-related revenue)
• Trump International Golf Links - Scotland
  Type: Golf course
  Location: Scotland
  Revenue: $4.9 million (golf-related revenue)
• DT Dubai Golf Manager LLC
  Type: Management company
  Location: Dubai
  Revenue: $1 to 5 million
• DT Dubai II Golf Manager LLC
  Type: Management deal with FRONTLINE Investment Management Co LLC
  Location: Dubai
  Revenue: $1 to 5 million (royalties)
• White Course LLC
  Type: Bank account
  Location: Florida
  Revenue: $87,000 (golf-related revenue)
• Trump Golf Acquisitions LLC
  Type: Golf letters of intent
  Location: New York
  Revenue: $22,000

Hotels

Hotels often employ low-wage workers, who could be affected by a host of government agencies and actions. For example, if Congress were to approve a large increase in the federal minimum wage, the president could veto it to hold down labor costs.

Here are a few federal agencies that could affect Trump labor costs and practices: theEmployee Benefits Security Administration, the National Labor Relations Board, theBureau of Citizenship and Immigration Services, the Equal Employment Opportunity Commission and the Occupational Safety and Health Administration.

• Trump Ruffin Tower I LLC
  Type: Commercial real estate
  Location: Nevada
  Revenue: $48.0 million (condo sales and hotel-related revenue)
• Mar-A-Lago Club LLC
  Type: Resort
  Location: Florida
  Revenue: $29.8 million (resort-related revenue)
• Trump International Hotels Management LLC
  Type: Management company
  Location: New York
  Revenue: $3.4 million (management and related fees)
• Trump International Hotel Hawaii LLC
  Type: Management company and license agreements
  Location: Hawaii
  Revenue: $2.4 million (royalties)
• Trump Chicago Hotel Manager LLC
  Type: Management company
  Location: New York
  Revenue: $2.3 million (management and related fees)
• Trump Panama Hotel Management Corp
  Type: Management company
  Location: New York
  Revenue: $1.3 million (management and related fees)
• Trump Old Post Office
  Type: Hotel
  Location: Washington, D.C.
  Revenue: $1 million (royalties)
• Trump Toronto Management Corp
  Type: License deal
  Location: New York
  Revenue: $612,000 (management and related fees)
• Ritz Carlton Hotel at 112 Central Park
  Type: Management company
  Location: New York
  Revenue: $286,000 (management and related fees)
• TIHT Holding Company LLC
  Type: Hotel condo unit
  Location: New York
  Revenue: $100,000 to 1 million (rent)
• Trump Marks Sunny Isles I LLC
  Type: License deal
  Location: New York
  Revenue: $100,000 to 1 million (royalties)
• Travel Enterprise Management Inc.
  Type: Bank account
  Location: New York
  Revenue: $75,000 (service fees)
• THC Vancouver Management Corp
  Type: Management company
  Location: Canada
  Revenue: $36,000 (management and related fees)
• OPO Hotel Manager LLC
  Type: Management company
  Location: Washington, D.C.
  Revenue: Less than $200
• THC Central Reservations LLC
  Type: Hotel company
  Location: New York
  Revenue: Less than $200
• Trump Miami Resort Management LLC
  Type: Management company
  Location: Florida
  Revenue: Less than $200

Real Estate

POLITICS

Who Benefits From Donald Trump's Tax Plan?

The value of commercial real estate businesses can be greatly affected by federal tax rules involving depreciation, taxation of capital gains, estate taxes and passive loss limitations. Trump would have the power to name the head of the Internal Revenue Service, as well as to veto any tax-related legislation passed by Congress.

• Trump Ruffin Tower I LLC
  Type: Commercial real estate
  Location: Nevada
  Revenue: $48.0 million (condo sales and hotel-related revenue)
• Trump Park Avenue LLC
  Type: Residential and commercial real estate
  Location: New York
  Revenue: $44.3 million (rent)
• 1290 Avenue of the Americas
  Type: Commercial real estate
  Location: New York
  Revenue: More than $5 million (rent)
• 40 Wall Street llc
  Type: Commercial real estate
  Location: New York
  Revenue: More than $5 million (rent)
• 845 UN Limited Partnership
  Type: Commercial real estate
  Location: New York
  Revenue: More than $5 million (rent)
• Fifty-Seventh Street Associates LLC
  Type: Commercial real estate
  Location: New York
  Revenue: More than $5 million (rent)
• HWA 555 Owners, LLC
  Type: Commercial real estate
  Location: California
  Revenue: More than $5 million (rent)
• Interest in Starrett City LP
  Type: Commercial real estate
  Location: New York
  Revenue: More than $5 million (rent)
• TIHT Commercial LLC
  Type: Commercial real estate
  Location: New York
  Revenue: More than $5 million (rent)
• Trump CPS LLC
  Type: Commercial real estate
  Location: New York
  Revenue: More than $5 million
• Trump Plaza LLC
  Type: Residential and commercial real estate
  Location: New York
  Revenue: More than $5 million (rent)
• Trump Tower Commercial LLC
  Type: Commercial real estate
  Location: New York
  Revenue: More than $5 million (rent)
• Trump Canouan Estate LLC
  Type: Land
  Location: St. Vincent and the Grenadines
  Revenue: $3 million
• Caribusiness Investments SRL
  Type: Land
  Location: Dominican Republic
  Revenue: $2 million
• Trump Chicago Commercial Manager LLC
  Type: Management company
  Location: New York
  Revenue: $1.4 million (management and related fees)
• 401 North Wabash Venture LLC
  Type: Residential and commercial real estate
  Location: Illinois
  Revenue: $742,005 (rent and condo sales)
• Trump Chicago Residential Manager LLC
  Type: Management company
  Location: New York
  Revenue: $679,444 (management and related fees)
• Trump Virginia Acquisitions LLC
  Type: Commercial real estate
  Location: Virginia
  Revenue: $534,762
• TNGC Jupiter Management LLC
  Type: Management company
  Location: Florida
  Revenue: $451,020 (management and related fees)
• THC Baku Services LLC
  Type: Management company
  Location: Baku, Azerbaijan
  Revenue: $323,150 (management and related fees)
• DT Tower Gurgaon LLC
  Type: License deal
  Location: India
  Revenue: $100,000 to 1 million (royalties)
• Excel Venture I LLC
  Type: Residential rental property
  Location: St. Martin, French West Indies
  Revenue: $100,000 to 1 million (rent)
• Interest in Spring Creek Plaza LLC
  Type: Commercial real estate
  Location: New York
  Revenue: $100,000 to 1 million (rent)
• Trump Marks LLC
  Type: License deal and bank account
  Location: New York
  Revenue: $100,000 to 1 million (royalties)
• Trump Marks New Rochelle LLC
  Type: License deal and bank account
  Location: New York
  Revenue: $100,000 to 1 million (royalties)
• Trump Marks Stamford LLC
  Type: License deal
  Location: New York
  Revenue: $100,000 to 1 million (royalties)
• Trump Marks Waikiki LLC
  Type: License deal and bank account
  Location: New York
  Revenue: $100,000 to 1 million (royalties)
• Trump Palace/Parc LLC
  Type: Commercial real estate
  Location: New York
  Revenue: $100,000 to 1 million (rent)
• residential real estate FL
  Type: Residential real estate
  Location: Florida
  Revenue: $50,000 to 100,000
• residential real estate FL
  Type: Residential real estate
  Location: Florida
  Revenue: $15,000 to 50,000
• Trump Scotsborough Square LLC
  Type: Residential real estate
  Location: Virginia
  Revenue: $5,000 to 15,000
• Chicago United Acquisition LLC
  Type: Residential real estate
  Location: Illinois
  Revenue: Less than $200
• Country Apartments LLC
  Type: Residential real estate
  Location: New York
  Revenue: Less than $200
• Country Properties LLC
  Type: Residential real estate
  Location: Virginia
  Revenue: Less than $200
• Fifty-Seventh Street management company
  Type: Management company
  Location: New York
  Revenue: Less than $200
• Hudson Waterfront Associates II, LP
  Type: Residential real estate
  Location: New York
  Revenue: Less than $200
• Lamington Family Holdings LLC
  Type: Land
  Location: New Jersey
  Revenue: Less than $200
• North Canon LLC
  Type: Residential real estate
  Location: California
  Revenue: Less than $200
• North Canon Member
  Type: Residential real estate
  Location: California
  Revenue: Less than $200
• Seven Springs LLC
  Type: Real estate investment
  Location: New York
  Revenue: Less than $200
• THC China Development LLC
  Type: Developer
  Location: New York
  Revenue: Less than $200
• THC IMEA Development LLC
  Type: Developer
  Location: New York
  Revenue: Less than $200
• The East 61 Street Company, LP
  Type: Residential real estate
  Location: New York
  Revenue: Less than $200
• Trump 845 UN MGR Corp
  Type: Commercial and residential real estate
  Location: New Jersey
  Revenue: Less than $200
• Trump Marks Asia LLC
  Type: Residential real estate
  Location: Virginia
  Revenue: Less than $200
• Trump Realty Services LLC
  Type: Mortgage broker
  Location: New York
  Revenue: Less than $200
• Trump Tower Managing Member Inc.
  Type: Commercial real estate
  Location: New York
  Revenue: Less than $200
• Trump Tower Triplex
  Type: Residential real estate
  Location: New York
  Revenue: Less than $200

Entertainment

Trump has been a major figure in the television industry for many years. The Federal Communications Commission sets rules for broadcasting and cable, and Trump will be able to appoint members to it. Federal laws not only regulate broadcasting, they also cover content issues, such as copyright and profanity.

• Miss Universe L.P, LLLP
  Type: Beauty pageant
  Location: New York
  Revenue: $49.3 million (beauty-pageant-related revenue)
• Trump Productions LLC
  Type: Production company
  Location: New York
  Revenue: $5.9 million (production revenue)
• Trump Model Management LLC
  Type: Modeling agency
  Location: New York
  Revenue: $1.9 million (commissions)
• Screen Actors Guild Pension
  Type: Pension
  Location: California
  Revenue: $169,000
• 208 Productions LLC (The Apprentice)
  Location: California
  Revenue: $8,368 (salary)

Food And Beverage

Trump has business interests in restaurants and vineyards. Federal agencies play a regulatory role in those areas. The Food Safety and Inspection Service, as well as the Centers for Disease Control and Prevention, work to ensure food safety and proper labeling while preventing outbreaks of foodborne diseases.
Environmental regulations have an impact on food-growing costs, and the federal government plays a big role in setting labor costs (see the section on Hotels).

• THC Miami Restaurant Hospitality LLC
  Type: Bank account
  Location: Florida
  Revenue: $7.9 million (food- and beverage-related sales)
• Trump Restaurants LLC
  Type: Restaurant
  Location: New York
  Revenue: $3.9 million (food- and beverage-related sales)
• Trump Vineyard Estates Lots 3 Owner LLC
  Type: Vineyard
  Location: Virginia
  Revenue: $100,000 to 1 million (rent)
• Trump Virginia Lot 5 LLC
  Type: Vineyard
  Location: Virginia
  Revenue: $50,000 to 100,000 (rent)
• Trump Marks Fine Foods LLC
  Type: License deal
  Location: New York
  Revenue: $15,000 to 50,000 (royalties)

Retail

The profits Trump can make from retail operations can be affected by the Federal Trade Commission's Bureau of Consumer Protection, the Labor Departmentand the U.S. Trade Representative. Those federal entities can create rules that drive up a retailer's cost of consumer protections, labor and imports.

• Trump Marks Mattress LLC
  Type: License deal and bank account
  Location: New York
  Revenue: $1 million to 5 million (royalties)
• Trump Marks Menswear LLC
  Type: License deal and bank account
  Location: New York
  Revenue: $1 million to 5 million (royalties)
• DT Home Marks International
  Type: License deal and bank account
  Location: New York
  Revenue: $100,000 to 1 million (royalties)
• Trump Home Marks LLC
  Type: License deal and bank account
  Location: New York
  Revenue: $100,000 to 1 million (royalties)
• DT Marks Products International LLC
  Type: License deal and bank account
  Location: New York
  Revenue: $50,000 to 100,000 (royalties)
• Melania Marks Accessories LLC
  Type: License
  Location: New York
  Revenue: $5,000 to $15,000 (royalties)
• Melania Marks Skincare LLC
  Type: License
  Location: New York
  Revenue: Less than $200 (royalties)

Aircraft

Trump owns a small fleet of planes and helicopters, which is regulated by the Federal Aviation Administration. The carbon emissions generated by his aging aircraft are regulated by the Environmental Protection Agency. The president appoints the heads of both the FAA and the EPA.

• DJT Operations I LLC
  Type: Aircraft
  Location: New York
  Revenue: $100,000 to 5 million (rent)
• Tag Air Inc
  Type: Bank account
  Location: New York
  Revenue: $3.7 million (aircraft-related revenue)
• DT Connect Europe Limited
  Type: Aircraft
  Location: Scotland
  Revenue: $15,000 to $50,000 (rent)
• DJT Aerospace LLC
  Type: Aircraft
  Location: New York
  Revenue: Less than $200 (rent)
• DJT Operations CX LLC
  Type: Aircraft
  Location: Florida
  Revenue: Less than $200
• DT Connect II LLC
  Type: Aircraft
  Location: Florida
  Revenue: Less than $200
• DT Endeavor I LLC
  Type: Aircraft
  Location: Florida
  Revenue: Less than $200

http://www.npr.org/2016/12/05/503611...sorting-it-out

If policies change that benefit office buildings, apartments, hotels, restaurants, golf courses, plane rentals, etc., etc., they benefit everyone in those types of businesses. Trump ran on reducing the regulatory burden on businesses. That's what he's going to do. He was elected to do that. Doing what he was elected to do is not a conflict of interest. Same with reducing corporate taxes, stopping illegal immigration, reducing or pausing legal immigration and putting an end to bad trade deals. Some of these will benefit his businesses, others may raise costs in his business, like tariffs placed on imported products to protect American Workers and American Businesses.

POLITICS
The Conflicts-of-Interest President

85
NOV 11, 2016 6:00 AM EST

ByTimothy L. O'Brien


When Donald Trump starts work in the Oval Office in January, he will have more potential business and financial conflicts of interest than any other president in U.S. history. How transparently and directly he addresses those conflicts will provide an early look at what kind of a leader he plans to be, and what kind of an administration he plans to run.

The private company Trump controls and oversees, the Trump Organization, sits atop a lucrative array of real estate holdings, hotels, golf courses and licensing operations -- all of which threw off, perhaps, as much as $557 million in revenue last year. (Trumpreported that figure to the Federal Election Commission earlier this year, but it’s never been publicly verified by an independent auditor. Trump could help clear up the matter by releasing his tax returns, but he’s broken with recent presidential tradition by declining to do so.)

While most federal officials working in the executive branch can’t collect outside business income while serving in the U.S. government,longstanding conflict-of-interest laws exempt the president from that stricture. So a president is free to handle private business from the White House if he or she likes.

Given that latitude, presidents have traditionally placed personal holdings such as stocks and bonds in blind trusts overseen by third parties who make independent investment decisions. The logic there is that the president is free to make official decisions without worrying about how they might appear to affect his or her fortunes.

The bulk of Trump’s wealth, however, is tied up in hard assets housed under the Trump Organization’s corporate umbrella. Those assets don’t lend themselves as easily to a blind trust as securities do. Trump has said that he wants to leave his three eldest children in charge of his company. That will work just fine, Trump has assured anyone who asks.

“I will sever connections and I’ll have my children and my executives run the company and I won’t discuss it with them," he told Fox News in September. “It’s just so unimportant compared to what we’re doing about making American great again.”

If anyone is still worried that making America great again might give way to making a lot of money, Chris Christie, the New Jersey governor who has become Trump’s aide-de-camp, also has made assurances to the contrary. He 's emphasized that a wall will exist between the Trump presidency and the Trump Organization. Trump and his children, Christie said, would likely talk about “grandchildren” instead of deals and money.

“Listen, the father and the children have a lot of things to talk about other than the business,” Christie continued in an interview with MSNBC in September. “These are professional, smart people who will, as we can see with his tax returns, follow the advice of their lawyers and their accountants. And in this case I think any smart lawyer would tell the new president of the United States, ‘You have to absent yourself from your business.’”

It’s hard to imagine that it could be that easy.

Like his campaign, Trump’s business operations have always been managed by a handful of people -- with Trump at the center. He and his family are built into the system.

Plus, how do you approach a global enterprise whose primary value is derived through licensing and naming rights -- especially when that name happens to belong to the president of the United States?

And then add this complication: The Office of Government Ethics forbids family members from overseeing blind trusts for those working in the executive branch, so the Trump children might not be eligible to run their family business.

All of this is to say that it is going to be very complicated; one more “unprecedented” item to add to the list of surprises Trump has introduced to the 2016 campaign.

Here, then, are the most immediate potential conflicts that would need to be resolved before Trump is sworn in as the 45th president of the United States:

• Domestic holdings: Trump’s hotel, real estate, media and entertainment interests all could theoretically benefit from any number of legislative and regulatory changes that come to pass in Washington. Until the public has greater tax and corporate disclosure from Trump, the extent to which he pursues policy outcomes without considering his own business interests will be hard to discern. We will have no way of knowing, for instance, if an element of tax reform benefits, say, a particular cohort of real estate investors and developers.
  
  Trump has called for forbidding those who have served in the executive branch and Congress from lobbying the federal government for five years after leaving office. He also wants to expand the definition of lobbying to anyone whose professional description is “consultant” or “adviser.”
  
  On the other hand, it is unclear if this ban will merely clear the field for a new team of lobbyists. For instance, Rudolph Giuliani, a possible Trump cabinet member, worked until recently for Greenberg Traurig, a law firm that has lobbied in Washington on casino-related issues on behalf of the Trump Organization.
  
  
• Overseas holdings: Trump listed more than 500 businesses in his FEC filings and a number of them -- which appear to be hotel, golf-course and licensing entities -- operate in several countries in Asia, the Middle East and Eastern Europe. Revisions of global trade accords and other financial and diplomatic initiatives that originate in or involve the White House could potentially boost the prospects of some of those businesses.
• 
  
• Banks: Trump has frequently carried large amounts of debt during his career, and his organization apparently owes as much as $650 million dollars currently -- a significant portion of which is owed to foreign banks. One of Trump’s biggest lenders is Deutsche Bank. InFEC filings, the president-elect has listed among his debts $100 million in loans from Deutsche. Deutsche extended those loans for a golf-course development and for Trump’s new hotel in Washington, D.C. Deutsche, which is currently sorting through financial troubles and a Justice Department probe, has long been one of Germany’s most prestigious banks and has been intimately involved in the development of the German economy.
  
  
• Litigation: There are about 75 lawsuits pending that Trump has filed or has had filed against him, including the high-profile litigation and fraud investigation involving Trump University. Trump is going to have to make clear how he intends to resolve them. As my Bloomberg News colleague David Voreacos hasreported, some legal experts think most of these cases will be settled. Trump’s presidency may protect him from being called as a witness in others, but it won’t grant him immunity from the suits themselves.
• 
  

Trump has campaigned on the promise that he's going to Washington to "drain the swamp" of tenured public officials and ethical conflicts.Separating himself from his own potential muck first would go a long way toward making sure that Trump is serious.

https://www.bloomberg.com/view/artic...rest-president

Trump never promised to drain his wealth or properties to help US fix our country or "drain the swamp". Trump promised to fix our country and "drain the swamp" of people who don't get what needs to be done to fix it.

So people who want to focus their time writing articles on his business instead of our country are just part of the swamp that doesn't get it that he's going to drain dry as a bone.

This is ridiculous - pure and simple.