Trump confidant dumped millions in steel-related stock last week, days before tariff announcemen

[RandySF]

Billionaire investor and longtime Trump confidant Carl Ichan 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, Ichan 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.

The filing came just seven days before a White House event where Trump announced his intention of imposing a 25 percent tariff on steel imports.

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[dalton99a]

1. Kick

[madaboutharry]

2. As our dear friend Malcolm Nance has said:

"Coincidences take a lot of planning."

[Me.]

3. Insider Trading?

[ProfessorGAC]

4. Icahn Would Be An Expert On That

So, very well may be. If anybody knows how to cheat in the market, it's Icahn.

[Me.]

6. You Can't Get Any More Inside Than With Comrade President

[ProfessorGAC]

10. Both Slimy Worms

Let's roll that rock back over, shall we? We don't really want to see those 2.

[Me.]

12. TRUE, True & True

[world wide wally]

5. He must be a genius!

Lock up Martha Stewart!

[UpInArms]

7. The swamp is about to overtake humanity

eom

[njhoneybadger]

8. George Soros made him do it.

[NewJeffCT]

16. Obama twisted his arm as well

all their fault.

[Botany]

9. Insider trading anyone?

Now will Carl send the money to Trump's Cayman Island account,
the bank of Cyprus, or buy some of Trump's crappy real estate?

[ChoppinBroccoli]

11. A Guy I Know Went To Prison For 6 Years For Doing Less Than This

Former Ohio State marketing professor Roger Blackwell, who I happen to know, received a 6-year prison sentence for insider trading, and he did less (or at least the same) as Trump in this case.

From Wikipedia: "In 1999, Worthington Foods, on whose board Blackwell served, discussed a possible merger with the Kellogg Company. During the time the merger was discussed, the stock price of Worthington dropped to half its eventual sale price and 6,000 people bought shares, including hundreds of associates of Worthington directors and employees. Two included an employee of Roger’s consulting firm and her husband, who bought additional shares in the IRA accounts. Roger and they were convicted of insider trading. Blackwell made nothing on the purchases, but received a six-year prison sentence and a fine of one million dollars."

[malaise]

13. So what's new?

http://www.dailymail.co.uk/news/article-4805824/Billionaire-Carl-Ichan-departs-Trump-administration.html

They were discussing the Think Progress scoop on GEMNBComcast a few minutes ago

[Major Nikon]

14. Interesting because he was already under investigation for similar shit

https://www.bloomberg.com/news/articles/2017-11-08/icahn-subpoenaed-by-u-s-over-biofuel-policy-while-trump-adviser

[mcar]

15. Just a coincidence, I'm sure