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Tag: financial disclosure

  • Did new Foushee ad in heated NC-4 primary make false claims about Allam?

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    U.S. Rep. Valerie Foushee, left, faces a challenge in the Democratic primary for North Carolina’s 4th Congressional District from Durham County Commissioner Nida Allam, right.

    U.S. Rep. Valerie Foushee, left, faces a challenge in the Democratic primary for North Carolina’s 4th Congressional District from Durham County Commissioner Nida Allam, right.

    A new ad in North Carolina’s hotly contested primary for Durham and Orange County’s seat in Congress has caused controversy over accusations that it included “false and defamatory statements” about one of the candidates.

    U.S. Rep. Valerie Foushee, a Democrat seeking her third term in Congress, released an ad this week accusing her opponent, Durham County Commissioner Nida Allam, of refusing to file a required financial disclosure.

    “What is she hiding?” the ad, paid for directly by Foushee’s campaign, said.

    In fact, Allam did file the financial disclosure form, but it was submitted late.

    Allam’s campaign sent a cease-and-desist letter to Foushee’s campaign and local TV stations on Tuesday, asking for the ad to be pulled from the air.

    In a press release Tuesday, Allam said CBS-17 had “agreed to take the ad down immediately.”

    “I am glad our district’s news stations will not sit idly by and air blatant lies and falsehoods against our campaign in the final week of this election,” Allam said in a statement. “It’s unfortunate that the incumbent’s campaign felt the need to resort to dishonesty to win votes in this final stretch of our primary.”

    CBS-17 declined to comment Wednesday when The News & Observer asked about the ad.

    According to documents reviewed by the N&O, a representative for CBS-17 said the station would be “airing different traffic ASAP” in response to concerns about the ad.

    ABC-11 and WRAL did not respond to an inquiry from The News & Observer about whether they would pull the ad.

    In a statement to The N&O, Foushee called Allam’s cease-and-desist letter “an attempt to hide the fact that she missed the legal deadline and tried to hide her financial information from the people of the 4th district.”

    “Covering up finances and missing simple paperwork deadlines is a page out of George Santos’ playbook and suggests she is not ready to be a member of Congress,” she said.

    Though Allam did file the disclosure, the form’s filing date is listed as Feb. 20 — nearly three weeks past the deadline. Candidates for Congress are required to file personal financial disclosures at least 30 days before an election.

    Disclosure forms do not include the exact amount a candidate or politician has in assets, but rather provide ranges that each asset is worth.

    Allam’s form reports less than $50,000 in cash and cash investments, as well as less than $15,000 each in 401(k) investments in Nike stock and funds tied to the prices of gold and silver.

    The report also includes two education savings funds, one valued between $15,000 and $50,000 and the other valued at less than $15,000.

    It also notes Allam’s student loans and her mortgage.

    “My filing looks like so many of the residents of this district, straddled by student loan debt and trying to afford my family’s home,” Allam said.

    The ad is the latest incident in a contentious and expensive primary in the state’s bluest congressional district, the 4th district that encompasses Durham and Orange counties as well as parts of Wake and Chatham.

    Allam and Foushee first ran against each other for the seat in 2022, in what became the most expensive Democratic congressional primary in the state’s history.

    Foushee, who benefited from millions in outside spending by Israel-aligned PACs and a now-jailed cryptocurrency billionaire, won the race by 9 points and has served in Congress since.

    In December, Allam announced that she would challenge the incumbent congresswoman once again, kicking off one of the state’s most-watched primaries this year.

    Related Stories from Raleigh News & Observer

    Kyle Ingram

    The News & Observer

    Kyle Ingram is the Democracy Reporter for the News & Observer. He reports on voting rights, election administration, the state judicial branch and more. He is a graduate of the Hussman School of Journalism and Media at UNC-Chapel Hill. 

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    Kyle Ingram

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  • What Stocks Does Donald Trump Own? New Financial Disclosure Revealed

    What Stocks Does Donald Trump Own? New Financial Disclosure Revealed

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    What Stocks Does Donald Trump Own? New Financial Disclosure Revealed

    As Donald Trump campaigns for a return to the White House, his latest financial disclosure offers a look into the investment strategy of the businessman-turned-politician.

    The Aug. 13, 2024, filing shows a portfolio that spans from high-flying tech stocks to reliable dividend payers. Outside of the individual stocks Trump owns, his disclosure lists real estate holdings valued in the hundreds of millions, and government bonds valued in the millions.

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    If Trump were a money manager, he might be defined as one who balances growth potential with steady income.

    While Trump’s 64.9% stake in Trump Media & Technology Group dwarfs his other holdings at $2.4 billion, his investments in other companies are substantial and diverse. The former president has placed large bets on multiple ‘magnificent seven’ stocks, with stakes valued between $500,001 and $1 million each in Apple, Microsoft and NVIDIA.

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    Those holdings suggest Trump has embraced Wall Street’s enthusiasm for artificial intelligence (AI), the nascent sector that has driven much of the market’s gains in recent months. His portfolio also includes positions in other magnificent seven stocks, including Alphabet and Amazon, valued between $100,000-$250,000 and $250,000-$500,000 respectively.

    But the former president’s strategy extends beyond Silicon Valley darlings. His disclosure lists hundreds of individual stocks, including positions in financials like JPMorgan Chase and Warren Buffett’s Berkshire Hathaway.

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    Trump’s portfolio also features a significant number of dividend stocks, which include household names like Coca-Cola, Johnson & Johnson and Procter & Gamble.

    Here’s a look at some of the stocks Trump owns that are valued at more than $15,000.

    • Apple Inc ($500,000 – $1,000,000)

    • Microsoft Corp ($500,000 – $1,000,000)

    • Nvidia Corp ($500,000 – $1,000,000)

    • Amazon.com, Inc ($250,000 – $500,000)

    • Alphabet Inc (Google) ($100,000 – $250,000)

    • Meta Platforms Inc ($100,000 – $250,000)

    • Berkshire Hathaway Inc ($100,000 – $250,000)

    • PepsiCo Inc ($100,000 – $250,000)

    • JPMorgan Chase & Co ($100,000 – $250,000)

    • Tesla Inc ($50,000 – $100,000)

    • Coca-Cola Co

    • Exxon Mobil Corp

    • Chevron Corp

    • Home Depot Inc

    • McDonald’s Corp

    • AbbVie Inc

    • Adobe Inc

    • Broadcom Inc

    • Booking Holdings Inc

    • Caterpillar Inc

    • Cisco Systems Inc

    • ConocoPhillips

    • Lockheed Martin Corp

    • Netflix Inc

    • Pfizer Inc

    • Qualcomm Inc

    • Union Pacific Corp

    • United Parcel Service, Inc.

    As the 2024 election race goes on, Trump’s investment choices may face increased scrutiny. His stake in Trump Media & Technology Group, which owns the social media platform Truth Social, is likely to be the most talked about Trump holding.

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    The “lockup” agreement preventing insiders from selling shares is set to expire in late September, potentially allowing Trump to cash out some of his $2.4 billion position. According to the disclosures, Trump owns 114,750,000 shares of the media brand or 64.9% of the entire company.

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    This article What Stocks Does Donald Trump Own? New Financial Disclosure Revealed originally appeared on Benzinga.com

    © 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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