Tag: Carl Icahn

Carl Icahn denies he knew about Trump’s steel tariff announcement before dumping stocks

The following article by Cleve R. Wootson Jr. and Marwa Eltagouri was posted on the Washington Post website March 7, 2018:

Investor Carl Icahn was an adviser to President Trump before he left in August to avoid any conflicts of interest. Credit: Brendan McDermid/Reuters

Billionaire activist-investor Carl Icahn said Wednesday that he knew nothing about President Trump’s decision to impose tariffs on steel and aluminum imports before deciding to sell shares in a company that makes cranes for heavy construction.

“We don’t generally comment on rumors, but the recent media speculation regarding our sale of Manitowoc stock calls for a response,” Icahn, a former Trump adviser, said in a short statement on his website.

“We state for the record: Any suggestion that we had prior knowledge of the Trump administration’s announcement of new tariffs on steel imports is categorically untrue. We reduced our position in Manitowoc for legitimate investment reasons having nothing to do with that announcement.” Continue reading “Carl Icahn denies he knew about Trump’s steel tariff announcement before dumping stocks”

Trump confidant dumped millions in steel-related stock last week

The following article by Judd Legum was posted on the ThinkProgress website March 2, 2018:

Carl Icahn has impeccable timing.

Chairman of Icahn Enterprises Carl Icahn participates in a panel discussion at the New York Times 2015 DealBook Conference at the Whitney Museum of American Art on November 3, 2015 in New York City. Credit:  Neilson Barnard/Getty Images for New York Times

Billionaire investor and longtime Trump confidant Carl Icahn dumped $31.3 million of stock in a company heavily dependent on steel last week, just days before Trump announced plans to impose steep tariffs on steel imports.

In a little-noticed SEC filing submitted on February 22, 2018, Icahn disclosed that he systematically sold off nearly 1 million shares of Manitowoc Company Inc. Manitowoc is a “is a leading global manufacturer of cranes and lifting solutions” and, therefore, heavily dependent on steel to make its products. Continue reading “Trump confidant dumped millions in steel-related stock last week”

Trump confidants serving as presidential advisers could face tangle of potential conflicts

The following post by John Wagner and Ylan Q. Mui was posted on the Washington Post website January 8, 2017:

Billionaire investor Carl Icahn will have the ear of President-elect Donald Trump as an adviser focused on cutting government regulations. But Icahn also stands to benefit if his advice is taken: It could make the energy companies and others in which he has a stake more profitable. Continue reading “Trump confidants serving as presidential advisers could face tangle of potential conflicts”