CPUd
12-02-2016, 08:41 PM
Donald Trump profited from investment in Carrier's parent company
Donald Trump profited from an investment in the parent company of a business he has slammed for laying off 2,100 workers in Indiana and moving production to Mexico.
Trump earned interest income of $2,501 to $5,000 from an investment in a United Technologies Corp. bond, according to a new financial disclosure form he filed Wednesday with federal election officials.
The company owns two affiliates — Carrier Corp. and UTEC — that announced in February they were laying off workers at plants in Indianapolis and Huntington and moving manufacturing operations to Mexico. The companies make heating and air conditioning products.
Trump made Carrier's decision to eliminate about 1,400 jobs at its factory on the west side of Indianapolis a centerpiece of his campaign during the runup to Indiana's primary earlier this month. His victory in that contest sealed his status as the presumptive Republican presidential nominee.
During an April 20 rally in Indianapolis, Trump called the company "ruthless" and told the audience — which included several Carrier workers — that he would "tax the hell" out of its air conditioners. He promised things would be different if he was president.
"You’re going to bring it across the border, and we’re going to charge you a 35 percent tax," he said. "Now within 24 hours they’re going to call back. 'Mr. President, we’ve decided to stay. We’re coming back to Indianapolis.'"
He did not mention his investment in United Technologies during his campaign appearances.
Trump's campaign did not immediately respond to a request for comment.
Chuck Jones, president of the union that represents Carrier employees, said he wasn't surprised by the disclosure.
"He wraps himself in the American flag," he said. "But he doesn't practice what he preaches."
The union, United Steelworkers Local 1999, has endorsed Democrat Bernie Sanders.
It's not the first time that Trump, a billionaire businessman and reality TV star, reported interest income from United Technologies. He also made $2,501 to $5,000 from a $100,001 to $250,000 investment in the company, according to his July 2015 disclosure form.
The Associated Press is reporting that he no longer owns stock in the company, but it's unclear from the documents whether he still has an interest in the company. On the disclosure form he filed Wednesday, he listed the value of the bond investment as "None (or less than $1,001)."
The investment is one of hundreds that Trump listed. The 104-page disclosure also included investments in several other companies Trump has criticized, including Ford Motor Credit Co. and the parent company of cookies and snacks manufacturer Nabisco.
Trump called Ford’s plans to open a $1.6 billion assembly plant in Mexico “an absolute disgrace,” and threatened to impose a 35 percent tax on imported Ford vehicles.
He also said last year that he was "never eating Oreos again" because of Nabisco's decision to close a bakery plant in Chicago and move production to Mexico.
“Carrier and Ford and Nabisco need to know that there are consequences to leaving and firing people,” Trump said during a rally in Evansville last month that drew an estimated 12,000 people. “You can’t just go to another country and make products to sell across our weak borders.”
On his new disclosure form, Trump reported investments in Ford Motor Credit Co. worth $500,000 to $1 million and interest income between $15,001 and $50,000. He also made $5,001 to $15,000 from an investment in Mondelez International Inc., Nabisco's parent company.
Trump has also invested in two other well-known companies that he has criticized on the campaign trail.
He bashed The Walt Disney Co. over a lawsuit that accused the company of replacing American workers with foreigners using H1-B visas — and then requiring them to train their replacements. And in February he encouraged a boycott of Apple Inc. for the company's refusal to unlock the phones of the shooters in the San Bernardino massacre.
But that hasn't stopped him from investing in those companies. He owns $15,001 to $50,000 in Disney stock and holds multiple investments in Apple, which combined are worth between $1.1 million and $2.25 million, according to his disclosure filings.
http://www.indystar.com/story/news/politics/2016/05/19/donald-trump-profited-investment-carriers-parent-company/84593308/
Donald Trump profited from an investment in the parent company of a business he has slammed for laying off 2,100 workers in Indiana and moving production to Mexico.
Trump earned interest income of $2,501 to $5,000 from an investment in a United Technologies Corp. bond, according to a new financial disclosure form he filed Wednesday with federal election officials.
The company owns two affiliates — Carrier Corp. and UTEC — that announced in February they were laying off workers at plants in Indianapolis and Huntington and moving manufacturing operations to Mexico. The companies make heating and air conditioning products.
Trump made Carrier's decision to eliminate about 1,400 jobs at its factory on the west side of Indianapolis a centerpiece of his campaign during the runup to Indiana's primary earlier this month. His victory in that contest sealed his status as the presumptive Republican presidential nominee.
During an April 20 rally in Indianapolis, Trump called the company "ruthless" and told the audience — which included several Carrier workers — that he would "tax the hell" out of its air conditioners. He promised things would be different if he was president.
"You’re going to bring it across the border, and we’re going to charge you a 35 percent tax," he said. "Now within 24 hours they’re going to call back. 'Mr. President, we’ve decided to stay. We’re coming back to Indianapolis.'"
He did not mention his investment in United Technologies during his campaign appearances.
Trump's campaign did not immediately respond to a request for comment.
Chuck Jones, president of the union that represents Carrier employees, said he wasn't surprised by the disclosure.
"He wraps himself in the American flag," he said. "But he doesn't practice what he preaches."
The union, United Steelworkers Local 1999, has endorsed Democrat Bernie Sanders.
It's not the first time that Trump, a billionaire businessman and reality TV star, reported interest income from United Technologies. He also made $2,501 to $5,000 from a $100,001 to $250,000 investment in the company, according to his July 2015 disclosure form.
The Associated Press is reporting that he no longer owns stock in the company, but it's unclear from the documents whether he still has an interest in the company. On the disclosure form he filed Wednesday, he listed the value of the bond investment as "None (or less than $1,001)."
The investment is one of hundreds that Trump listed. The 104-page disclosure also included investments in several other companies Trump has criticized, including Ford Motor Credit Co. and the parent company of cookies and snacks manufacturer Nabisco.
Trump called Ford’s plans to open a $1.6 billion assembly plant in Mexico “an absolute disgrace,” and threatened to impose a 35 percent tax on imported Ford vehicles.
He also said last year that he was "never eating Oreos again" because of Nabisco's decision to close a bakery plant in Chicago and move production to Mexico.
“Carrier and Ford and Nabisco need to know that there are consequences to leaving and firing people,” Trump said during a rally in Evansville last month that drew an estimated 12,000 people. “You can’t just go to another country and make products to sell across our weak borders.”
On his new disclosure form, Trump reported investments in Ford Motor Credit Co. worth $500,000 to $1 million and interest income between $15,001 and $50,000. He also made $5,001 to $15,000 from an investment in Mondelez International Inc., Nabisco's parent company.
Trump has also invested in two other well-known companies that he has criticized on the campaign trail.
He bashed The Walt Disney Co. over a lawsuit that accused the company of replacing American workers with foreigners using H1-B visas — and then requiring them to train their replacements. And in February he encouraged a boycott of Apple Inc. for the company's refusal to unlock the phones of the shooters in the San Bernardino massacre.
But that hasn't stopped him from investing in those companies. He owns $15,001 to $50,000 in Disney stock and holds multiple investments in Apple, which combined are worth between $1.1 million and $2.25 million, according to his disclosure filings.
http://www.indystar.com/story/news/politics/2016/05/19/donald-trump-profited-investment-carriers-parent-company/84593308/