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USDOT Secretary Elaine Chao Sells Stock In Vulcan Materials After Conflict Of Interest Questioned

Original source: NY Times

Screen Shot 2019-06-18 at 1.35.42 PM.png Transportation Secretary Elaine Chao has sold the stock she owned in one of the nation’s biggest manufacturers of highway construction materials, just days after the holding raised questions over a potential conflict of interest.

Ms. Chao sold the shares, worth $250,000 to $500,000, last Monday, according to a letter the Transportation Department released Thursday.

Days earlier, The Wall Street Journal, followed by other news media, reported that she had not cashed out, as promised, stock options she held in Vulcan Materials, an Alabama-based producer of crushed stone and asphalt, where she served on the board before joining the Trump administration.

On Wednesday, Ms. Chao sent a letter to the Transportation Department’s top ethics lawyer, notifying the agency of the sale. In the letter, she attributed the stock holdings to an “inadvertent misstatement” made after she was nominated in late 2016 to take over the top transportation job.

... GO TO Chao Sells Stock In Vulcan Materials TO READ MORE

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