Confounding
Gold Member
- Jan 31, 2016
- 7,073
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- #1
Ex-Trump adviser sold $31m in shares days before president announced steel tariffs
- Thread starter Confounding
- Start date
The Original Tree
Diamond Member
Lol
Did President Trump not make a Campaign promise to stop steel dumping in the US?
Lord are you people desperate.
Quick appoint a Special Counsel on this Pronto!!!
Did President Trump not make a Campaign promise to stop steel dumping in the US?
Lord are you people desperate.
Quick appoint a Special Counsel on this Pronto!!!
Asclepias
Diamond Member
Can someone say insider trading?
OldLady
Diamond Member
- Nov 16, 2015
- 69,568
- 19,618
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Sounds like it's right in his ball park: (Wikipedia)
In the 1980s Icahn developed a reputation as a "corporate raider" after profiting from the hostile takeoverand asset stripping of the American airline TWA.[2][3] According to Forbes Magazine, Icahn has a net worthof $16.6 billion, making him the 26th-wealthiest person on the Forbes 400, and the 5th wealthiest hedge fund manager as of February 2017.[4]
In December 2016, incoming U.S. President Donald Trump asked Icahn to serve as a special economic adviser on financial regulation within his administration.[5] Icahn stepped down from the role in August 2017 in advance of an article in The New Yorker magazine highlighting his conflicts of interests.[6][1][7][8] On November 8, 2017, Bloomberg News reported that the U.S. Attorney had issued subpoenas "for information on Carl Icahn's efforts to change biofuel policy while he served as an adviser to President Donald Trump."[9]
TNHarley
Diamond Member
- Sep 27, 2012
- 101,023
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Then why didnt he do it last year? Why wait until the end of feb 2018 which just happens to be a week before tariffs?
Good lord man
At some point, do you ever think that mayyyybe you should just be honest with yourself?
SassyIrishLass
Diamond Member
- Mar 31, 2009
- 114,140
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Doubtful, if it was insider Icahan would have sold at 38ish three days before. MTW was at 44ish in Jan, Icahan simply recognized it was in free fall and got out
Papageorgio
The Ultimate Winner
Pretty suspicious to me. Two weeks before, a month before, no big deal but a week before?
blackhawk
Diamond Member
It wasn’t like Trump keep secret the fact he was going to do this type of stuff could there be something underhanded here maybe or maybe this guy just has good business instincts.
HereWeGoAgain
Diamond Member
Sounds kinda sketchy.
.
Another day comes, and another day of winning for the idiot Trump and his billionaire cronies.
I appears billionaire businessman Carl Icahn can now add clairvoyance to his list of accomplishments. It seems he has developed this ability, as he looked into the future and some how knew he should dump nearly 1 million shares of Manitowoc Company Inc. Manitowoc “ ‘is a leading global manufacturer of cranes and lifting solutions’ and, therefore, heavily dependent on steel to make its products.”
Icahn sold his shares in Manitowoc for $32 to $34. The stock dropped 6% when the idiot Trump first announced his tariffs on imported steel and aluminum, and another 6% as of 10:20 a.m. Friday. Fortunately for Ichan, he foresaw this sharp loss in the Manitowoc stock value, which is now only $26.21.
Isn’t Ichan lucky? He saw, in his mind, a coming event, which would cost consumers billions-of-dollars in their future purchases of products manufactured in the U.S. containing steel or aluminum. However, through what can only be seen as his own “sixth sense”, Ichan prevented a loss to his portfolio of roughly $7 million dollars.
Or, his good buddy, the idiot Trump warned Ichan of the tariff scheme. Average Americans will probably never know, but conservatives will be easily convinced Ichan’s business savvy was the only tool he needed to predict the drop in his stock’s value.
It is a good bet, if the SEC were to look at other filings by the idiot Trump’s cronies, they would find many of them who had also become clairvoyant, suddenly.
The parasitic brand of capitalism practiced here in the United States sucks the life out of the average citizens, but greatly enriches the 0.1%. And the conservatives love it, especially low income conservatives. These people savor every moment they spend bent over by the super rich.
As always, thoughtful comments are welcome. Unfortunately, the conservatives remain either unaware or will deny their individual response to this thread is their typical nonsense consisting of denial, alternate facts, and/or off-topic silliness. (e.g. non-sequiturs, ratings, transference, deflection, memes, etc.). Their mindless prattle is expected by people of reason, who also realize it is a waste of time to offer the conservatives any reply.
https://thinkprogress.org/trump-ichan-steel-imports-cf7deb8beaf0/
.
Another day comes, and another day of winning for the idiot Trump and his billionaire cronies.
I appears billionaire businessman Carl Icahn can now add clairvoyance to his list of accomplishments. It seems he has developed this ability, as he looked into the future and some how knew he should dump nearly 1 million shares of Manitowoc Company Inc. Manitowoc “ ‘is a leading global manufacturer of cranes and lifting solutions’ and, therefore, heavily dependent on steel to make its products.”
Icahn sold his shares in Manitowoc for $32 to $34. The stock dropped 6% when the idiot Trump first announced his tariffs on imported steel and aluminum, and another 6% as of 10:20 a.m. Friday. Fortunately for Ichan, he foresaw this sharp loss in the Manitowoc stock value, which is now only $26.21.
Isn’t Ichan lucky? He saw, in his mind, a coming event, which would cost consumers billions-of-dollars in their future purchases of products manufactured in the U.S. containing steel or aluminum. However, through what can only be seen as his own “sixth sense”, Ichan prevented a loss to his portfolio of roughly $7 million dollars.
Or, his good buddy, the idiot Trump warned Ichan of the tariff scheme. Average Americans will probably never know, but conservatives will be easily convinced Ichan’s business savvy was the only tool he needed to predict the drop in his stock’s value.
It is a good bet, if the SEC were to look at other filings by the idiot Trump’s cronies, they would find many of them who had also become clairvoyant, suddenly.
The parasitic brand of capitalism practiced here in the United States sucks the life out of the average citizens, but greatly enriches the 0.1%. And the conservatives love it, especially low income conservatives. These people savor every moment they spend bent over by the super rich.
As always, thoughtful comments are welcome. Unfortunately, the conservatives remain either unaware or will deny their individual response to this thread is their typical nonsense consisting of denial, alternate facts, and/or off-topic silliness. (e.g. non-sequiturs, ratings, transference, deflection, memes, etc.). Their mindless prattle is expected by people of reason, who also realize it is a waste of time to offer the conservatives any reply.
https://thinkprogress.org/trump-ichan-steel-imports-cf7deb8beaf0/
.
debbiedowner
Gold Member
- Feb 12, 2017
- 15,013
- 4,826
- 345
Akin to insider trading.
evenflow1969
Gold Member
Likely insider trading, the good news is we have people to investigate such things. I do not have to decide innocent or guilty with out knowing what the **** happened. Some one will look into it and I can go on about my day! I'll worry about it when more info comes in!
Sunni Man
Diamond Member
Thank you Pres. Trump!! ...
georgephillip
Diamond Member
In many ways, Trump is merely the crony capitalist who found a way to cut out the middleman (and woman)
Ex-Trump adviser sold $31m in shares days before president announced steel tariffs
"According to a regulatory filing Icahn was able to sell his shares for $32 to $34. On Friday morning Manitowoc’s shares had fallen 5.48% to $26.37.
"The fall was in line with drops seen by other companies dependent on cheap steel imports, including Boeing and Caterpillar.
"Trump has argued that the tariffs are necessary to protect US jobs. 'We must protect our country and our workers. Our steel industry is in bad shape. IF YOU DON’T HAVE STEEL, YOU DON’T HAVE A COUNTRY!' Trump wrote on Twitter.
"The announcement has rattled stock markets around the world and stoked fears of a trade war with both the EU and China saying they are considering retaliation if the tariffs become law."
Ex-Trump adviser sold $31m in shares days before president announced steel tariffs
"According to a regulatory filing Icahn was able to sell his shares for $32 to $34. On Friday morning Manitowoc’s shares had fallen 5.48% to $26.37.
"The fall was in line with drops seen by other companies dependent on cheap steel imports, including Boeing and Caterpillar.
"Trump has argued that the tariffs are necessary to protect US jobs. 'We must protect our country and our workers. Our steel industry is in bad shape. IF YOU DON’T HAVE STEEL, YOU DON’T HAVE A COUNTRY!' Trump wrote on Twitter.
"The announcement has rattled stock markets around the world and stoked fears of a trade war with both the EU and China saying they are considering retaliation if the tariffs become law."
TNHarley
Diamond Member
- Sep 27, 2012
- 101,023
- 64,739
- 2,605
Apparently he sold them before it was announced.
SassyIrishLass
Diamond Member
- Mar 31, 2009
- 114,140
- 102,215
- 3,605
Or he recognized it was overvalued.
Why Carl Icahn Just Cut His Manitowoc Stake By 33% - Manitowoc Company, Inc. (NYSE:MTW) | Seeking Alpha
Doc1
Gold Member
Think Progress is a bullshit Far Left and I mean FAR Left. Having said that you can bet that will be scrutinized.
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