Transportation Secretary Elaine Chao’s decision to retain shares in Vulcan Materials stands in contrast to the way previous DOT secretaries have handled potential conflicts of interest. Photo: Xinhua/Zuma Press By Ted Mann and Brody Mullins May 28, 2019 5:32 a.m. ET WASHINGTON—
Ms. Chao’s 2017 ethics agreement, which she signed before her confirmation, said she would receive a cash payout in April 2018 in exchange for the deferred share units she earned while serving on the board, effectively severing her financial ties to the company. The DOT’s top ethics official has determined that owning the shares doesn’t present a conflict of interest for Ms. Chao, who has disqualified herself from participating in matters involving Vulcan and will continue to do so, the DOT spokesman said. The spokesman said the language of the 2017 ethics agreement “is being clarified to avoid confusion.”
Federal Railroad Administrator Ronald Batory canceled stock awards from Consolidated Rail Corp., his previous employer, and sold his shares in Norfolk Southern Corp. and Union Pacific Corp. upon his confirmation to the job. Ethics experts said the decision to hold stock in a company whose business is related to the government agency’s mission is unusual.
The federal government pays for about one quarter of annual spending on highways, according to the Congressional Budget Office, with state and local governments picking up the remainder. Most of the DOT’s $86 billion budget is spent on grants to states and municipalities, whose spending on road projects is a major source of business for Vulcan, according to the company.
Corrupt like her husband McConnell. He must be defeated Nov 2020 with Trump and his wife. They’re all ‘dirty’.
Don’t forget to include her Machiavellian husband in the lede too.
This administration is the worst ever, no amount of deceit or corruption is shocking at this point with this administration. They have made a complete mockery of all ethical standards. They are a black mark in our history.
It was only a matter of time before Chao had her corruption revealed. Everyone whom 45 touches turns to shit.
Sure she does. Vulcan materials go into tires, so why pass infrastructure when people have to keep replacing their tires? Such an exemplary transportation secretary. . . Not!
She is a thief and a liar just like her Taiwanese husband, McConnell.
She and her husband have no ethics or sense of shame. Does anyone in Washington
Of course she does. You expected different in this fiesta of corruption?
Am I supposed to be surprised by what she or Mitch, or anyone in DC do anymore?
And
Banana Republic of Trump’s America
Whynis this a big deal with this administration? This is the new norm republicans want for our government
So much for ethics GOP GangOfPlunder
Is anyone shocked by this? What does senatemajldr think?
Swampy swamp
Corrupts to the core 💯! A bunch of self-serve😡
I can imagine tr**p saying “who would intentionally do something unethical for only 40k?”
😐
That is absolutely wrong. Republicans and Democrats should be held to their highest standards.
A crook just like her husband and all the other people associated like the king of all crooks.....Donald J. Trump !
It's OK with the Trumpers just as long as that smarty pants black guy is gone and the baby-killin' email lady ain't president..
More Trump swamp.
Our government needs oversight GOP Is ruining our democracy
They dont care. This government and the GOP that props them up are all corrupt to the core
GOPigs are corrupt from snout to tail.🐷 Democrats2020💙🇺🇸
Corrupt administration
They’re repubs they don’t have to be true to their word, follow laws, obey rules, tell the truth...feel free to add on!
Of course she does.. People are ok with it.. They vote for ppl who hire ppl like that..
politicians suck! Hypocrite and there are no consequences for violation. Respect the Law
How’s that swamp-draining project coming along?
Interesting how you only report on the potential crimes of Trump administration but ignored Obama's crimes for 8 years. I guess that's because he was installing the genocidal socialism you NYT bastards crave like when you ignored Hitler's warcrimes. And others.
Of course she does. All Trump cronies are corrupt AF.
Crooked like her husband and her boss !
Accountability doesn’t exist in this administration.
Rules don’t apply to the ruling class I guess. All hail the Turtle 🐢
She's a Trumplette. What do you expect? The truth?
She also has big ties to China
you idiots actually thought she was gonna divest lol
Rules are for Dems, right?
Who's going to remind her? Mitch's Senate?
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: CNN - 🏆 4. / 95 Read more »
Source: CNBC - 🏆 12. / 72 Read more »