After Donald Trump addressed the media in his first press conference as US-President-elect and took pot shots at the media that had targetted him during the US polls as well as slammed them for continuing to still hound him, besides indicating his appreciation of the role played by Russia, the next US president said, “President Putin likes me and I appreciate that.” However, what really caught everyone’s attention and imagination was what his lawyer Sheri Dillon of Morgan Lewis and Bockius said. According to her, Donald would separate himself from all offices of profit and divorce himself totally from all his businesses in every way possible. Dillon listed a number of dos and don’ts. Here are the key ones:
1. The business empire built by President-elect Donald Trump is massive. Not as similar to the fortune of Nelson Rockefeller when he became vice president. But no one was so concerned at that time. President-Elect wants the American public to rest assured that all of his efforts will be directed to pursuing people’s business and not his own. We will design a structure for his business empire that would completely isolate him from the management of his companies.
2. Trump organization Management has been passed to sons Don and Eric. They will have the authority to manage the Trump organization and will make decisions for the duration of the Trump presidency. An ethics advisor will be pointed to the management team whose written approval will be required for new deals and transactions. Trump will completely isolate himself from his business interests. Together, Eric and Alan will have the authority to manage the Trump organization and will make decisions for the duration of the presidency without any involvement whatsoever by President-elect.
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3. President-Elect Trump will resign from all officer and other positions he holds with the Trump organization entities. He will have no further involvement with or management authority whatsoever with the Trump organization. Trump has already disposed of all of his investments and publicly traded or easily liquidated investments. President-elect Trump first ordered that all pending deals be terminated. This impacted over 30 deals, many of which were set to close by the end of 2016 – causing immediate financial loss of millions of dollars.
4. No new foreign deals will be made whatsoever during the duration of president Trump’s presidency. The domestic deals will be allowed, that they will go through a vigorous vetting processes. Donald Trump will have no role in deciding whether or not the Trump organization engages in any new deal as this could be perceived as causing a conflict of interest. He will know of a deal only when he reads it in the paper or TV.