Page 24 - ARUBA TODAY

Monday 24 april 2017 BUSINESS
A24

Trump sons take helm of company, eye domestic expansion

JONATHAN LEMIRE a pitch into Trump-friendly quarter, that’s it.”
Associated Press states seems like “a reason- “That doesn’t talk about
NEW YORK (AP) — Appren- able business strategy.” any business sectors, that
tices no more, Eric and Any new investment, par- doesn’t talk about any
Donald Trump Jr. are now ticularly if it involves foreign assets, that doesn’t talk
at the helm of the Trump funds, will face additional about anything specific in
Organization and adjusting scrutiny, including a review the business. That is a pure
to the reality presented by by an in-house and out- number, one number on a
their father’s presidency. side ethics counsel, Donald piece of paper,” Eric Trump
They’re eyeing ways to Trump Jr. said. said. “That’s more than per-
use the new lease on the “It’s a complicated proce- missible. None of these laws
family fame by expanding dure that changes the dy- even apply to him — he’s
the brand into parts of the namic. There are plenty of the president — but that is
United States that embrace deals that two years ago or more than permissible in a
him. eight years from now, ‘Oh, trust structure.”
Some business has slowed In this Feb. 28, 2017 file photo, Donald Trump Jr., left, and his yeah, you can do this,’” he Experts disagree, noting
as a result of the pledge to brother Eric Trump attend the grand opening of the Trump Inter- said. “Today, we have to that it is not a true trust
stall international dealmak- national Hotel and Tower in Vancouver, B.C., Canada. take that much more seri- structure because Trump
ing while Trump is president. Associated Press ously. There is an optical retained ownership of the
But a U.S. push is planned, though foreign deals are have been signed, though component that has to be company.
and two new hotel chains on hold, the company will no ground has been bro- taken into account.” “As long as President Trump
are being considered — a complete existing projects, ken yet. He bristled at the idea that insists on owning the Trump
four-star brand and a less including ones in India, the Among the possible loca- his father ran for president Organization, the conflicts
luxurious line — possibly United Arab Emirates and tions being considered: to enrich himself or his fam- of interest that may occur
in states where Trump tri- the Dominican Republic. Texas, parts of the South, ily, as some critics contend- run directly to him and the
umphed over Democrat Because overseas markets and perhaps the nation’s ed during the campaign. so-called firewall plays no
Hillary Clinton last Novem- have been hotter for the capital, where the hotel “He spent $75 million of his role in preventing them,”
ber. Trump brand, the company would exist with the Trump own money to run against said Fred Wertheimer,
“I think it makes it naturally could lose some new rev- luxury property in the former 17 incredibly seasoned Re- head of the ethics watch-
easier if you’re going into a enue, the president’s sons home of the Old Post Of- publican candidates to dog group Democracy 21.
place that’s not adversarial suggested. fice not far from the White then go against Hillary Clin- “It’s an illusion and does
to you,” Donald Trump Jr. Last fall, the company an- House. The company is also ton,” Donald Trump Jr. said. not protect the American
said in a recent interview. nounced the creation of a in the very early stages of “No one in their right mind people.”
The Trump Organization is four-star hotel chain called considering a three-star ho- would do that. That’s not a Both Eric and Donald Trump
a private, family-run busi- Scion, which is meant to of- tel chain. good business model! I get Jr. said they missed their fa-
ness that owns billions of fer upscale service in U.S. Experts said the plan would it, it sells papers, it creates ther’s presence. Eric Trump
dollars’ worth of hotels, of- cities that could not sup- not seem to run afoul of headlines. But it’s ridicu- said he sometimes looks
fice buildings, golf courses port a full-fledged Trump any ethics standards, even lous.” upon the stack of $1 bills
and management and luxury property. More than if the hotels ended up in Donald Trump Jr. said he that he won during a se-
licensing agreements. Al- two dozen letters of intent some of the economically barely spoke to his father ries of friendly business bets
depressed regions whose during his first weeks in of- with his father.
voters rallied for Trump and fice. That changed af- The winner would give the
may not be able to afford ter the younger Trump’s other a dollar bill with a
a luxury brand. It would be 5-year-old son, Tristan, was note scrawled upon it. The
no different from cashing in hurt in a skiing accident. elder Trump would use the
on the name of a nonpoliti- Eric Trump said he does talk bills, or a newspaper clip-
cal celebrity, they said. to his father more regularly ping about a Trump prop-
Similarly, daughter Ivanka but insists that any discus- erty, as a means of com-
Trump has made a pitch sions about the family busi- municating to his sons, and
for Trump’s blue-collar sup- ness are limited to broad his trademark scrawl would
porters by replacing her strokes and adheres to the carry his congratulations —
high-end jewelry line with a guidelines the president or his wishes — to those he
mass-market brand. laid out in January. was training to someday
“It would not seem to blur “We don’t talk about lead his company.
any lines with the presiden- the business. At most it’s “It was his way of saying
cy,” said Kathleen Clark, ‘How’s Turnberry? Turn- ‘Get this done’ or ‘Great
a law professor at Wash- berry’s great,’” Eric Trump job, ET - this is going to be
ington University. She said said, referring to a Trump amazing,’” said Eric Trump.
that while “questions can golf property in Scotland. “It’s a simple way of com-
be raised” about some of He would tell his father, if municating but I learned a
the company’s behavior, asked, “A profit or loss in a lot. I miss that.”q