Donald Trump's 500 businesses would pose 'unprecedented ethical dilemma'

Discussion in 'Politics, Religion, Social Issues' started by thermodynamic, Aug 3, 2016.

  1. thermodynamic Suspended

    thermodynamic

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    #1
    http://money.cnn.com/2016/03/16/news/companies/donald-trump-ethics/

    It does pose a dilemma?

    Dick Cheney used to be a part of Halliburton before becoming VP (1995-2000, was it?), and that didn't stop him from going after the no-bid contracts... So Cheney set the standard. There is no double standard for Trump. Unless Trump puts in a mandate.

    Or unless Obama puts in an executive order so people like Cheney and others don't get to do it in the future? (But didn't Obama have a friend who helped make him the Obamacare website?)

    Also, 4 failed companies when owning 500 -- what other factoids are being ignored on social media memes? I doubt Trump himself governs all 500 so zealously, people under him do and they might not keep him up to date, nor would he have the time. He has companies to profit from, that's all. But if elected, he has a chance to do something genuinely great.

    Otherwise, why are Obama, Clinton, and the major GOP players all terrified of him?
     
  2. vrDrew macrumors 65816

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    #2


    If you take a look at Donald Trump's financial disclosure forms, you will see that he probably does own, or control, something like 500 different companies.

    The thing to understand is that his definition of a "company" is probably a bit different to what most people normally think of when they hear that word. Most people think of an office building or a factory, with a parking lot, a receptionist, and a bunch of people working in cubicles.

    Most of Trump's "companies" aren't anything like that. They are mostly of the nature of "DT Marks Qatar LLC" - which is simply a legal entity set up to receive royalties from a line of Trump-branded home and office furniture sold in several Middle Eastern countries. There are two such entities for Qatar. More Dubai, as well as Pune, India, and who knows where else. Trump sets up similar arrangements to collect branding fees on golf courses, hotels, mattresses, and his line of shirts and ties. Rather than setting up one big company to handle all of the licensing on all Trump-branded products and services worldwide - Trump sets up a different "company" (or two) in every jurisdiction. Thats how you get to "500 companies."

    Why do it that way? Well, for one thing it protects the assets Trump owns from lawsuits and losses. If "DT Marks Qatar LLC" goes bankrupt or gets sued - the creditors can't after the assets of "DT Marks RIO LLC". They are just out of luck. It also makes it very difficult for journalists, tax authorities, or bankers, to figure out exactly what Trump actually owns, how much money he makes, and how much he is worth.
     
  3. MadeTheSwitch macrumors 6502a

    MadeTheSwitch

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    #3
    Because he's cray cray.

    Most intelligent people are afraid of him. With good reason. The last thing this (or any) country needs is an unstable leader.

    Why can't you see that?
     
  4. Macky-Mac macrumors 68030

    Macky-Mac

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    #4
    Further along the line of what you've mentioned, Trump's background is in real estate development where it's quite common for each individual project to incorporated as an independent business entity. This is done to isolate the project's financial liabilities in case it fails to be profitable.
     
  5. iShater macrumors 604

    iShater

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  6. Thomas Veil macrumors 68020

    Thomas Veil

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    #6
    Things could get strange, ethically speaking.

    Do you really want to see your president giving a State of the Union speech, followed by a commercial in which the same president tells you why it'd be great to stay in a Trump hotel?
     
  7. iShater macrumors 604

    iShater

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    #7
    I don't think he cares. He already tried to sell us steak and bottled water. :eek:
     

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