public pension funds to divest from owner of Trump hotel
public pension funds to divest from an investment fund unless canada goose clearance it stops paying one of President Donald Trump companies to run a New York hotel. February 14, 2017. states canada goose black friday sale periodically send millions of dollars to an investment fund that owns the upscale Trump SoHo Hotel and Condominium in New York City and cheap canada goose uk pays a Trump company to uk canada goose run it, according to a Reuters review of public records.
Two legal advocacy groups sent petitions Canada Goose sale to buy canada goose jacket cheap half a million of their members canada goose store and letters urging state officials who oversee the California canada goose coats on sale Public Employees Retirement System (CalPERS) and the New York Canada Goose online State Common Retirement Fund to reconsider their investments in CIM Fund III, which Canada Goose Online owns the Trump SoHo.
money used for this investment comes from mandatory deductions from the paychecks canada goose factory sale of public employees. These employees are thus forced to indirectly subsidize President Trump beyond the Constitution mandate of a fixed salary, said the letters from Free Speech for People in Newton, Massachusetts, and Courage Campaign in Los Angeles. Constitution bars the president from receiving additional payments beyond his salary from canada goose uk black friday state governments. The fees that public pension canadian goose jacket funds uk canada goose outlet pay CIM may fall into that category, several constitutional lawyers have told Reuters.
The White House in June rejected the allegation that government payments to canada https://www.canadagooseonlineshop.co.uk goose Trump businesses violated the Constitution and said canada goose clearance sale politics had motivated lawsuits challenging Trump continued ownership of his businesses.
The Canada Goose Parka advocacy groups urged the pension funds either to divest from the CIM fund or work with other canada goose uk outlet investors to demand that CIM end its relationship with the Trump canada goose black friday Organization.
CalPERS declined to comment, but CalPERS officials disclosed in response to a public records request that the pension fund paid CIM $1,722,418 in Canada Goose Outlet management fees for the first three months of 2017.
In a statement, a spokesman for New York State Comptroller Thomas DiNapoli noted that the CIM fund was in cheap Canada Goose the process of gradually selling off the properties it owns and said the New York state pension fund limited rights as an investor and does not make or control CIM investment choices.
CIM said in a statement that it committed to creating attractive Canada Goose Coats On Sale investment opportunities for its investors and then overseeing those investments to produce the best outcomes possible for the funds it manages.
It added that the Trump SoHo was underperforming and said it was hard to restore its performance before we bring it to market.
The White House and the Trump Organization did not respond to multiple Canada Goose Jackets requests for comment.
Democratic officials and lawmakers buy canada goose jacket have also raised concerns over the payment chain between canada goose coats the public pension funds and the Trump SoHo.
The public pension funds investments in CIM Fund III were cited in a June lawsuit that the attorneys general of Maryland and the District of Columbia filed against canada goose uk shop Trump, alleging that government payments to his businesses violated the Constitution.
