Welcome

Thank you for visiting Paducahsun.com, online home of The Paducah Sun.

Calendar
June 2012
S M T W T F S
27 28 29 30 31 01 02

Click here to submit an event.

Trump closes companies tied to Saudi Arabia

Associated Press

WASHINGTON -- President-elect Donald Trump shut down some of his companies in the days after the election, including four that appeared connected to a possible Saudi Arabia business venture, according to corporate registrations in Delaware.

News of the move comes days before Trump was expected to describe changes he is making to his businesses to avoid potential conflicts of interest as the U.S. president.

The Trump Organization's general counsel, Alan Garten, described shutting down the four companies as routine "housecleaning," and said there was no existing Trump business venture in Saudi Arabia. The four Saudi-related companies were among at least nine companies that Trump filed paperwork to dissolve or cancel since the election.

The recent dissolutions represent a fraction of Trump's global network of companies -- the breadth of which has raised conflict-of-interest concerns about whether Trump can balance being an international businessman while conducting the nation's business abroad as president.

Trump's holdings include more than 500 private companies, some of which he creates for prospective deals. The complex and changing structure makes it difficult for Americans to track his financial interests and partners. Trump has disclosed the names and some details about companies in public filings. But a complete picture of Trump's finances is unclear, given that he broke with decades of presidential precedent by not releasing his tax returns during the campaign.

Next week Trump said he plans to announce how he will separate himself from his business interests once he's president. Trump operates branded hotels and resorts in a handful of countries around the world, though he and his executives have talked about expanding more globally. Last year, Ivanka Trump singled out the Middle East and Saudi Arabia as potential locations.

During the campaign, he created eight companies that included Jeddah, a major Saudi city, in their formal names.

Comments made about this article - 0 Total

Comment on this article

Your comment has been submitted for approval
captcha 2f263ba76c894cf385ef5da438a63652
Top Classifieds
  • 13 yr. old Tenn. Walking Horse Geldin ... Details
  • 6 AKC registered Rottweiler Puppies, ... Details
  • SEEING is believing! Don't buy p ... Details

Most Popular
  1. State police investigating inmate death
  2. City commission puts off vote on disputed project
  3. Additional quilt, fiber art shows during quilt week
  1. LongHorn Steakhouse will be built in Paducah
  2. 'Ewe Are My Sunshine' collects top quilt award
  3. Caldwell crash kills driver
  1. State police investigating inmate death
  2. LongHorn Steakhouse will be built in Paducah
  3. City commission puts off vote on disputed project
Discussion

Check out these recently discussed stories and voice your opinion...