The Huffington Post
5 days
Politico
8 days
Trump’s lawyer who worked on the plan, Sheri Dillon with the firm Morgan Lewis, did not specify who the trust’s beneficiary is, or whether Trump still technically owns the assets in the trust, or whether he can retake the holdings when he leaves office. But it’s clear that Trump is maintaining a financial interest in the Trump Organization, which means he could still enrich himself through official actions that benefit the company. “This is not a blind trust — it’s not even close,” Shaub said. “The only thing it has in common with a blind trust is the labeltrust.’” Trump’s plan does nothing to prevent him from profiting off the presidency, ethics experts said Wednesday. “Having Trump’s adult children lead the operational control of his business, while he still retains full ownership, is not an acceptable solution,” Trevor Potter, president of the Campaign Legal Center and a former campaign lawyer to John McCain, said in a statement.
Politico
8 days
Even though numerous ethics experts, Republicans and Democrats alike, have called explicitly for Trump to adhere to the norms of the Oval Office and sell his business or establish a blind trust, his attorney issued a lengthy statement about why he wouldnt be doing that, and why it wasnt necessary, or even possible. “President-elect Trump,” Sheri Dillon said, “should not be expected to destroy the company he built.” But in interviews with POLITICO this week, people who have known, worked for and watched Trump closely for decades offered a different perspective, and one with potentially profound implications for his presidency. The reason, they said, is much simpler. He can’t let go. “I think he’s incapable of seeing himself as anything other than the CEO of his company, said Trump biographer Wayne Barrett, who started writing about him in 1979 with a two-part investigation in the Village Voice .
The Economic Times
9 days
" Trump clashed openly with CNN's correspondent, telling him: "You are fake news." But he reserved his harshest words for BuzzFeed, which published the unverified 35-page report in full: "As far as BuzzFeed, which is a failing pile of garbage, writing it, I think they're going to suffer the consequences." A key issue in the report, which, although pressed by reporters, Trump avoided answering. A big question since his election has been, how will Trump handle his huge real estate business while president. On Wednesday came the definitive answer: Trump said he had signed documents "turning over complete and total control to my sons," Don Jr and Eric. The actions "will sever President-elect Trump's presidency from the Trump Organization," said his attorney, Sheri Dillon. She said the business would strike no foreign deals during Trump's mandate. Trump, as key shareholder, will only receive an annual report on the operation.
The Huffington Post
9 days
It suggests sordid chaos at the highest levels. It feels like end-state, social decay, late-stage-empire stuff. It's Caligula-in-the-corner-office stuff. But there's something more important going on, and you don't need unsourced reports to see it. It was hiding in plain sight when, in a bizarre intermezzo, Trump interrupted his own press conference for a legal presentation from the Washington law firm of Morgan, Lewis & Bockius LLP. People joked about attorney Sheri Dillon's flat affect and boring speaking style. But it was Dillon, not Trump, who provided the day's biggest shock. If her dullness of tone helped camouflage it, that may not have been an accident. It was Dillon who outlined Trump's plan for managing his businesses while he's in the Oval Office. If that plan doesn't amount to premeditated corruption, it certainly paves the way for it.
TYT YouTube
9 days
Donald Trump is refusing to fully divest from his companies. Ana Kasparian and John Iadarola, hosts of The Young Turks, break down Trump’s many conflicts of interest. Tell us what you think in the comment section below. https://www.tytnetwork.com/go “Donald Trump has outlined how he will aim to avoid any conflicts of interest when he steps into the White House. His lawyer, Sheri Dillon of Morgan Lewis, told reporters that he will resign from the Trump Organisation and hand over management to his sons, Don Jr and Eric. His daughter, Ivanka Trump, will also resign from the family company and move with her husband, Jared Kushner, and her children to Washington DC. The Trump Organisation will not carry out any foreign deals, the lawyer said, and for any new transactions, his sons will ask for written approval from an ethics adviser.” Read more here: http://www.
The Sun Daily - World News
9 days
"My two sons, who are right here, Don and Eric, are going to be running the company," the president-elect told a news conference in New York. "They're not going to discuss it with me," he added. Don Jr, 38, and Eric, 32, are Trump's eldest sons from his first marriage and are currently, with their sister Ivanka, executive vice presidents in the Trump Organisation. Trump said manila files covering a table next to the lectern were the signed documents "turning over complete and total control to my sons", before handing the stage to his lawyer, a Washington law firm partner. The attorney, Sheri Dillon, defended the plan saying it would "completely isolate" Trump from the management of his business during his presidency and that no new foreign deals "whatsoever" would be made during his time in the White House. 'Not feasible' All pending deals – more than 30 – were cancelled, causing a "financial loss of millions of dollars" to Trump and his children, said Dillon, a partner in the firm Morgan, Lewis & Bockius.
Politico
9 days
Even though he entered the press conference under fire on Wednesday, Trump still appeared more comfortable when he was running the room than when he was standing to the side as a bystander. Trump ceded the podium in the middle of taking questions, so his attorney Sheri Dillon could outline at length the steps Trump is planning to remove himself from the day-to-day operation of his real estate business. But without the spotlight on him, Trump appeared to grow distracted, whispering to his stone-faced daughter, Ivanka, and sipping water from a plastic bottle. If the cheering staffers created a sense of support for Trump as he denied any collusion with the Russians during the campaign and promised to get Mexico to pay for his wall, the scene outside was a reminder of the other side of the coin. Protesters holding up signs likening the Trump-Pence team to a “fascist regimelined up across Fifth Avenue from Trump Tower in protest.
Slate
9 days
When President-elect Donald Trump emerged Wednesday for his first press conference in almost six months, he did not come alone. The table next to Trump’s lectern groaned with stacks of manila folders. These were “some of the many documents,” Trump explained, “that I’ve signed turning over complete and total control [of the Trump Organization] to my sons.” Those many documents—which were hidden from view by their protective manila armor—were accompanied by a lawyer, Sheri A. Dillon , of the Washington firm Morgan, Lewis Bockius ( recent winner of the Russia Law Firm of the Year award ) who spoke in a measured drone that seemed designed to hypnotize viewers into thinking that Trump’s decision not to divest himself completely from his business interests would make America great again.
Politico
9 days
The lawyers said Trump will have “limited information rights” regarding what’s happening at the company he built over decades. Under the new ethics plan, Trump, his children and his longtime business associates will be barred from discussing company operations and the inner workings of the U.S. government. Trump's team did not provide any details on how that ban would be enforced or verified. Trump’s team defended the arrangement during his press conference, saying that divesting or taking the company public was not feasible, and that the current approach would eliminate the possibility of conflicts of interest without causing him “unnecessarylosses. “President-elect Trump should not be expected to destroy the company he built, said Trump attorney Sheri Dillon. Trump himself said he was doing more than what it required. “I dont have to do this,” he said during the nationally-televised press conference at Trump Tower in New York.
Ruptly TV
9 days
US President-elect Donald Trump announced that he will be handing over control of his business empire to his two sons, Donald Jr and Eric, at a press conference in New York on Wednesday. Trump announced that lawyer Sheri Dillon and a team the firm Morgan Lewis are currently working on a framework to ensure that there are no conflicts of interest. "I understand they don't want presidents getting tangled up in minutia; they want a president to run the country", Trump said, but added that he could run continue to run his business if he wanted to. Video ID: 20170111 032 Video on Demand: http://www.ruptly.tv Contact: cd@ruptly.tv Twitter: http://twitter.com/Ruptly Facebook: http://www.facebook.com/Ruptly
Politico
9 days
The lawyers said Trump will have “limited information rights” regarding what’s happening at the company he built over decades. Under the new ethics plan, Trump, his children and his longtime business associates will be barred from discussing company operations and the inner workings of the U.S. government. Trump's team did not provide any details on how that ban would be enforced or verified. Trump’s team defended the arrangement during his press conference, saying that divesting or taking the company public was not feasible, and that the current approach would eliminate the possibility of conflicts of interest without causing him “unnecessarylosses. “President-elect Trump should not be expected to destroy the company he built, said Trump attorney Sheri Dillon. Trump himself said he was doing more than what it required. “I dont have to do this,” he said during the nationally-televised press conference at Trump Tower in New York.
Politico
9 days
Dont be rude…I am not going to give you a question. You are fake news.”) and settling scores from a campaign that’s still clearly fresh on his mind (“He’s going to crack that 1 percent barrier one day,” Trump said of former rival Sen. Lindsey Graham). It came in two 20-minute acts, with a 15-minute lawyerly intermission on why Trump wasnt removing his multi-billion-dollar empire from his family’s control. “President-elect Trump should not be expected to destroy the company he built,” his attorney Sheri Dillon said. Dillon said it was not feasible to either sell all of Trump’s many assets, which would create its own conflicts, nor to fully divest them when his name is central to the brand. “President Trump can’t unknow he owns Trump Tower,” she said. Trump himself said that, “Over the weekend I was offered $2 billion to do a deal in Dubai with a very, very amazing man.
Breitbart News
9 days
Wednesday, President-elect Donald Trump addressed reporters at a press conference from Trump Tower in New York City. Transcript as follows: SPICER: Morning. Thanks for being here (ph). (inaudible) days away from the inauguration of the next president and vice president of the United States. Its an opportunity to be here today to allow the president-elect to take your questions. After the president-elect makes some remarks, he will introduce Ms. Sheri Dillon, a prominent attorney in Washington, D.C. with the prestigious form of Morgan Lewis who will who structured the agreements pursuant to the presidents business arrangements and she will give brief remarks. Before we start, I want to bring your attention to a few points on the report that was published in BuzzFeed last night. Its frankly outrageous and highly irresponsible for a left-wing blog that was openly hostile to the president-elects campaign to drop highly salacious and flat out false information on the internet just days before he takes the oath of office.
Politico
9 days
Trump admitted: “As far as hacking, I think it was Russia.” After months of rejecting the intelligence community’s assessment that Russia meddled in the U.S. presidential election, he conceded Wednesday that he believes Russia conducted cyberattacks . “But I think we also get hacked by other countries and other people,” he continued. _______ • “President-elect Trump should not be expected to destroy the company he built,” Trump attorney Sheri Dillon announced, disclosing that he will not divest or form a blind trust to disentangle himself from potential business conflicts. Reading a lengthy prepared statement, Dillon said Trump will be fully isolated “from the management of the company” — his sons Don Jr. and Eric, along with another Trump Organization executive, will take over — and “take all steps realistically possible to make it clear that he is not exploiting the office the presidency for his personal benefit.
TIME - Top Stories
9 days
In a press conference on Wednesday, as President-elect Trump brought attorney Sheri Dillon forward to speak to the point of how he will avoid potential conflicts of interest between his business interests and his role as President of the United States. His business empire is not dissimilar to the fortunes of Nelson Rockefeller when he became Vice President, she noted, but at that time no one was so concerned. In fact, though Rockefeller's wealth did not ultimately prove an obstacle for his service as Vice President under Gerald Ford, TIME's archives show that plenty of people were concerned that his fortunes might pose a problem. Rockefeller's arrival in the office of Vice President came about in an unusual way, after Gerald Ford became President following Richard Nixon's resignation in 1974. That circumstance left the vice presidency open, and Ford selected Rockefeller, a former New York Governor, to fill the job.
Sputnik International
9 days
Tax attorney Sheri Dillon said that the Trump organization will not make any foreign deal during the duration of Donald Trump’s presidency.
TIME - Top Stories
9 days
Donald Trump's team addressed concerns about his potential conflicts of interest on Wednesday by saying he would donate all money spent by foreign governments on bills at his hotels to the U.S. Treasury. Sheri Dillon, an attorney with Morgan Lewis who has worked with the Trump team to structure his new business arrangements , said that the Emoluments Clause in the U.S. Constitution did not apply to hotel bills, but he would take steps anyway to avoid profiting from any foreign officials choosing to book rooms in his hotels. He is going to voluntarily donate all profits from foreign government payments made to his hotels to the U.S. Treasury, she said. This way it is the American people who profit. The Emoluments Clause specifies that no Person holding any Office of Profit or Trust under them, shall, without the Consent of the Congress, accept of any present, Emolument, Office, or Title, of any kind whatever, from any King, Prince, or foreign State.
ABC News - Politics
9 days
TIME - Top Stories
9 days
President-elect Donald Trump held his first press conference since July, addressing plans for his upcoming Administration, reports about ties to Russia and his plans for addressing conflicts of interest with his business. Along with Trump, Vice President-elect Mike Pence, press secretary Sean Spicer and Morgan Lewis attorney Sheri Dillon spoke at the event. Below is a running transcript of the event. SPICER: Morning. Thanks for being here (ph). (inaudible) days away from the inauguration of the next president and vice president of the United States. It's an opportunity to be here today to allow the president-elect to take your questions. After the president-elect makes some remarks, he will introduce Ms. Sheri Dillon, a prominent attorney in Washington, D.C. with the prestigious form of Morgan Lewis who will who structured the agreements pursuant to the president's business arrangements and she will give brief remarks.
Politico
9 days
Trump admitted: “As far as hacking, I think it was Russia.” After months of rejecting the intelligence community’s assessment that Russia meddled in the U.S. presidential election, he conceded Wednesday that he believes Russia conducted cyberattacks . “But I think we also get hacked by other countries and other people,” he continued. _______ • “President-elect Trump should not be expected to destroy the company he built,” Trump attorney Sheri Dillon announced, disclosing that he will not divest or form a blind trust to disentangle himself from potential business conflicts. Reading a lengthy prepared statement, Dillon said Trump will be fully isolated “from the management of the company” — his sons Don Jr. and Eric, along with another Trump Organization executive, will take over — and “take all steps realistically possible to make it clear that he is not exploiting the office the presidency for his personal benefit.
Politico
4 months
The Huffington Post
10 months
As the political press focused on Donald Trump's contradictory statements about abortion Wednesday, his campaign quietly released an unusual letter from his tax lawyers claiming the businessman has been under "continuous examination" by the IRS since 2002. The letter, signed by Sheri Dillon and William Nelson of the firm Morgan, Lewis Bockius, gives no advice to Trump on his refusal to release any of his tax returns to the public. Every presidential nominee since Jimmy Carter has publicly disclosed at least a few years of tax returns. But the lawyers' three-paragraph letter does provide official-sounding backup to Trump's claims that he's being audited, so he can't release his returns. Trump's tax returns have been under "continuous examination" by the IRS since 2002, "consistent with the IRS' practice for large and complex businesses," the lawyers wrote.
Politico
10 months
Donald Trump’s campaign released a letter from his tax attorneys Wednesday night saying Trump’s personal tax returns have been under continuous examination by the Internal Revenue Service since 2002, a reason the GOP presidential candidate has cited for not releasing his returns. The March 7 letter from Sheri A. Dillon and William F. Nelson says audits of Trump’s returns for 2009 “and forward” are ongoing and says all of the audits are consistent with the IRS' practice for large and complex businesses. “Examinations of your tax returns for 2002 through 2008 have been closed administratively by agreement with the IRS without assessment or payment, on a net basis, of any deficiency.” It wasnt clear why the campaign was only now releasing the letter, since Trump said in February he couldnt divulge his tax returns because he was being audited.