Out of Public View, Trumps and Kushners Are Talking Business




LONG BRANCH, N.J. — Jared Kushner’s family company recently began construction on an oceanfront development in this Jersey Shore city, a project that has the strong backing of local officials, who agreed to support it with $20 million in bonds.

But unknown to Long Branch officials, the Kushners have been in talks to team up with another family-run company that has an even bigger presence in the White House: the Trump Organization.

The Kushners are in private discussions to have President Trump’s company manage at least one hotel at the center of the development known as Pier Village, according to people briefed on the previously unreported talks. The Kushner Companies and the Trump Organization have signed a letter of intent, though no deal is final and the Kushners are not required to inform city officials.

The long-running talks blur the line between family, business and politics in ways that lack precedent: Both Mr. Trump and Mr. Kushner, the president’s senior adviser and son-in-law, retain financial interests in their family businesses. The Trump Organization’s outside ethics adviser has raised questions about a potential deal — one reason the two-year-long discussions have not been completed.

The talks are underway as the White House role of Mr. Kushner has become increasingly strained because of his business dealings. Mr. Kushner lost his top-secret security clearance last month, in part because of worries that foreign governments might try to gain influence by doing business with him.

While Mr. Kushner has sold some holdings in Kushner Companies, he has held on to a majority of his stake, including an ownership interest in the recent $283 million expansion of Pier Village. Mr. Trump has handed over management of his company to his two oldest sons, but the president continues to own it.

“The concern is that the president might not want to do anything that would upset the Kushner family agreement to do business with his company,” said Marilyn L. Glynn, who served as general counsel in the Office of Government Ethics during Republican and Democratic administrations, when told by The New York Times about the Trump-Kushner talks.

The White House declined to comment. Both companies on Friday confirmed their discussions about the hotel in Pier Village, while dismissing ethics concerns.

https://www.nytimes.com/2018/03/10/business/trumps-kushners-hotel-deals.html?hp&action=click&pgtype=Homepage&clickSource=story-heading&module=first-column-region&region=top-news&WT.nav=top-news

Last edited by Goose (3/11/2018 9:20 am)