(Source: New York Magazine, May 28, 2019)
NEW YORK — Prior administrations might argue that the Transportation Secretary owning shares in the largest supplier of gravel mix used in road construction is an explicit conflict of interest. But according to a report from the Wall Street Journal, the DOT’s top ethics official has ruled that Secretary Elaine Chao’s ownership of shares in Vulcan Materials Co. does not constitute an ethical snag — despite Chao vowing to divest from the company in an agreement signed before her confirmation. Federal Railroad Administrator Ronald Batory canceled stock awards from Consolidated Rail Corp., his previous employer, and sold his shares in Norfolk Southern Corp. and Union Pacific Corp. upon his confirmation to the job.
Full story: New York Magazine