Anyone Paying Attention to Wilbur Ross, Commerce Sec?

What is Wilbur Ross worth? The answer is a slippery one when you ask Wilbur to respond. There is a dispute when it comes to his financials in the ranger of a billion or two. Further, where did his wealth come from you ask? Well there were allegedly family trusts, hotels, shipping companies, steel, banking in Cyprus and even those Rothschilds. More here from Forbes.

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Wilbur Ross’ company has been moving LPG for a Russian gas giant.

But now, in what might seem almost an echo of the Red Scare that lasted in America for generations, this business relationship is seen as tainted, an ominous connection to a country that unleashed cyberwar against American democracy and the 2016 election that put Trump in the White House.

Are all connections to Russia now suspect? Or are they sometimes merely an inconvenient consequence of doing business in a country where major corporations often are controlled by the Kremlin?

The latest tie between Russia, Trump and his campaign and administration officials came to light Sunday with news that the U.S. commerce secretary is a part owner of Navigator Holdings, a shipping company that transports LPG produced by Sibur, a big Russian company with ties to the Kremlin.

Some shipping business experts who follow the company are shrugging off the news.

“Russia has a lot of commodities that need to go somewhere else,” said Benjamin J. Nolan, a financial analyst who covers Navigator for Stifel, Nicolaus & Co. He added, “Odds are, they are going to have long term contracts with Western shipping companies.”

The Russian government is a powerful factor in almost every part of the country’s economy. Some of Russia’s biggest banks, such as Sberbank and VTB are state-controlled, with their management answering directly or indirectly to the Kremlin.

Then there is Gazprom, a big gas supplier to Europe, and Rosneft, the oil producer. Both are majority state owned.

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Two people associated with Siber are under U.S. sanctions

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How about Venezuela? Yup…

Despite U.S. sanctions on Venezuela’s bond transactions in international markets and other restrictions against top officials, the Paradise Papers show that Secretary of Commerce Wilbur Ross has an important stake in multi-million dollar businesses related with state-oil giant Petróleos de Venezuela (PDVSA).

As reported by Newsweek on Sunday, Ross still retains interest in Navigator Holdings, a shipping company incorporated in the Marshall Islands in the South Pacific that maintains a close relationship with Russia’s energy company SIBUR, which is run by President Vladimir Putin’s son-in-law Kirill Shamalov and other individuals who have been sanctioned by the U.S. Navigator Holdings has received millions of dollars every year in earnings due to coastal shipping services provided to PDVSA.

PDVSA is no small client of Navigator Holdings. The state-oil company contributed to 10.7 percent of Navigator’s earnings during fiscal year 2014 and 11.7 percent in fiscal year 2015, according to Venezuelan newspaper El Nacional. The company’s earnings translate into $33.7 million and $36.7 million for each fiscal year thanks to PDVSA’s use of the Navigator’s 29 tankers to carry liquefied petroleum gas during those years.

As he was awaiting confirmation, Ross failed to disclose any business interests with Putin’s family and his stake in the maritime industry. James Rockas, Ross’s spokesman, told the New York Times that the secretary of commerce “recuses himself from any matters focused on transoceanic shipping vessels, but has been generally supportive of the [Trump] administration’s sanctions of Russian and Venezuelan entities.”

But Ross’s businesses pose a potential conflict of interest, ICIJ reported. Ross has “the power to influence U.S. trade, sanctions and other matters that could affect SIBUR’s owners,” the Paradise Papers report added. More here from Newsweek.

 

Saudi Arabia says Lebanon Declares War

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It is all about Iran….

Arabia reveals list of wanted members of the terrorist militias in the region including

What did President Trump know or what was he told?

Remarks by President Trump and Prime Minister Hariri of Lebanon in Joint Press Conference

Saudi Arabia says Lebanon declares war, deepening crisis

BEIRUT (Reuters) – Saudi Arabia accused Lebanon on Monday of declaring war against it because of aggression by the Iran-backed Lebanese Shi‘ite group Hezbollah, a dramatic escalation of a crisis threatening to destabilize the tiny Arab country.

Lebanon has been thrust to the center of regional rivalry between Saudi Arabia and Iran since the Saudi-allied Lebanese politician Saad al-Hariri quit as prime minister on Saturday, blaming Iran and Hezbollah in his resignation speech.

Saudi Gulf affairs minister Thamer al-Sabhan said the Lebanese government would “be dealt with as a government declaring war on Saudi Arabia” because of what he described as aggression by Hezbollah.

Faulting the Hariri-led administration for failing to take action against Hezbollah during a year in office, Sabhan said “there are those who will stop (Hezbollah) and make it return to the caves of South Lebanon”, the heartland of the Shi‘ite community.

In an interview with Al-Arabiya TV, he added: “Lebanese must all know these risks and work to fix matters before they reach the point of no return.”

He did not spell out what action Saudi Arabia might take against Lebanon, a country with a weak and heavily indebted state that is still rebuilding from its 1975-90 civil war and where one-in-four people is a Syrian refugee.

There was no immediate comment from the Lebanese government.

Hezbollah is both a military and a political organization that is represented in the Lebanese parliament and in the Hariri-led coalition government formed last year.

Its powerful guerrilla army is widely seen as stronger than the Lebanese army, and has played a major role in the war in neighboring Syria, another theater of Saudi-Iranian rivalry where Hezbollah has fought in support of the government.

Lebanese authorities said on Monday the country’s financial institutions could cope with Hariri’s resignation and the stability of the Lebanese pound was not at risk.

But the cash price of Lebanon’s U.S. dollar-denominated bonds fell, with longer-dated maturities suffering hefty losses as investors took a dim view of the medium- to longer-term outlook for Lebanon.

HARIRI FREE TO TRAVEL, SAUDI FM SAYS

Hariri cited a plot to assassinate him during his unexpected resignation speech broadcast from Saudi Arabia which caught even his aides off guard. He also slammed Hezbollah and Iran, accusing them of sowing strife in the Arab world.

Hezbollah leader Sayyed Hassan Nasrallah has said he will not comment on Hariri’s speech, calling it a “Saudi statement” and saying Riyadh had forced Hariri to resign.

The sudden nature of Hariri’s resignation generated speculation in Lebanon that his family’s Saudi construction business had been caught up in an anti-corruption purge and he had been coerced into resigning. More here.

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Western intelligence services warned Lebanon’s former Prime Minister Saad al-Hariri of an assassination plot against him, thus prompting him to resign on Sunday, according to Saudi news media. Hariri is a Saudi-born Lebanese politician, reputed to be one of the world’s wealthiest people. He is the second son of the late Rafiq Hariri, who ruled Lebanon for much of the 1990s but was assassinated in 2005. Saad al-Hariri spent most of his life in Saudi Arabia, the United States and France, but returned to Lebanon in 2014 to lead the Future Movement, a center-right political party supported by Sunni Muslims and some Christians. He became prime minister in 2016.

On Friday, Hariri flew from Beirut to Riyadh for a scheduled high-level visit. But on Sunday he shocked the Arab world by announcing his resignation from the post of prime minister. He did so in a surprise television address from the Saudi capital, which was broadcast live in Lebanon. Hariri told stunned Lebanese audiences that he was resigning in order to protect himself from a plot that was underway to assassinate him. He added that the political climate in Lebanon was intolerably tense and reminded him of the conditions that led to the assassination of his father 12 years ago. He also accused Iran and Hezbollah of acting as the primary destabilizing factors in Lebanon and much of the Middle East. Hariri and his supporters believe that Hezbollah was behind his father’s assassination in 2005. There was intense speculation in Lebanon on Monday that Hariri would remain in Saudi Arabia for the foreseeable future, fearing for his life if he returned to Lebanon.

On Sunday, the Saudi-based newspaper Asharq al-Awsatclaimed that Hariri decided to resign after he “received warnings from Western governments” that there would be an assassination plot against him. The newspaper did not name the Western governments, nor did it identify those who are allegedly trying to kill Hariri. Later on Sunday, Saudi television station al-Arabiya al-Hadath alleged that an assassination attempt against Hariri had been stopped at the last minute in the Lebanese capital Beirut earlier in the week. Both news media cited “sources close” to the Lebanese leader, but did not provide specific information, nor did they give details of the alleged plot or plots. It is worth noting, however, that Lebanese security officials denied these reports from Riyadh. Lebanese media quoted senior security official Major General Abbas Ibrahim as saying that no information about assassination plots had been uncovered. Major Ibrahim, who heads Lebanon’s General Directorate of General Security, said that his agency had no information about attempts to kill Hariri or other Lebanese political figures.

This could mean that the information about a possible assassination plot against Hariri was given directly to him by Western intelligence agencies, probably because the latter fear that Lebanese security agencies are infiltrated by Hezbollah sympathizers. Or it could mean that the Saudi media reports are inaccurate. Lebanon is now awaiting further details by Hariri regarding the alleged assassination plot against him. In the meantime, the already fragile political life of Lebanon appears to be entering a period of prolonged uncertainty.

Here Comes Eric Holder, Again Marc Elias Right Behind Him

Holder’s a Democrat, but it wasn’t Northam’s tax plans or social views or life story that brought him there. It was the National Democratic Redistricting Committee (NDRC), the Obama-backed group he chairs, which decided months ago that the most important way this year to shape the future of gerrymandering was ensuring a Democrat is in the Virginia governor’s mansion when the next set of House and state legislative maps get drawn after the 2020 Census.

The $1.2 million that the NDRC has put behind Northam, some direct to his campaign and some through its own digital ad program, is nothing compared to the group’s plan for 2018: a goal of raising over $30 million, to be deployed largely into governors’ races—with a focus on large states where substantially shifting the legislature is out of reach, like Ohio, Pennsylvania and Wisconsin. Where recapturing the statehouse is within reach, or where there’s a chance to bust up a GOP supermajority—as in Colorado, Minnesota, Nevada and North Carolina—they will back and help direct Democrats’ efforts.

So far, a majority of NDRC money and attention is going to legal challenges, and though the group is currently hiring a litigation director, most of the work is being handled by well-known Democratic elections lawyer Marc Elias. Already this year, they’ve been pursuing cases in Georgia, North Carolina and Virginia, and expect that this will be an even bigger part of their role in off years ahead, and in challenging maps drawn in states where they don’t do well in elections. The whole summary is here.

Now on to that cat, Marc Elias…Holder, Hillary and Barack’s friend.

Big questions are being asked on The Hill about how journalists were paid to spread the news about the slimy dossier.

Rep. Devin Nunes, California Republican and chairman of the House Permanent Select Committee on Intelligence, signed a subpoena to force a bank to turn over Fusion’s financial records. He wants to know who paid for the dossier, which was written in a series of 18 memos by former British spy Christopher Steele. He relied almost exclusively on unidentified Kremlin sources.

Fusion went to federal court to block the move, but the law firm Perkins Coie LLP, whose partner Marc E. Elias is the Clinton’s campaign’s general counsel, intervened. It filed a letter acknowledging it had paid Fusion for the dossier on behalf of Democrats. Fusion and Mr. Nunes then worked out an agreement on access to some of the firm’s financial records. The rest of the story here.

*** Marc Elias is the ‘go-to’ legal fixer guy for almost every Democrat in DC… 1-800 Call Marc

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Remember Obama’s White House lawyer, Bob Bauer? He is the founder of the law firm Perkins Coie.

The firm was founded by attorney Bob Bauer, who has been a close legal adviser to President Barack Obama ever since he decided to run for Senate in 2005. Bauer was the chief counsel for the Obama White House from Jan. 2010 to Jun. 2011.

Elias was called on for Claire McCaskill and Mary Landrieu….Harry Reid and even John Kerry dialed him up over the whole ‘Swift Boat’ thing. More here.

Roll Call profiles Marc Elias, a partner at Perkins Cole and the go-to election lawyer for Democrats. “Over the past decade, since Kerry hired him as his campaign counsel, Elias has risen to become an indispensable figure in the party. He has a second office in the Democratic Senatorial Campaign Committee headquarters, where he’ll spend most of Election Day “pacing around” Executive Director Guy Cecil’s office “and driving him nuts for most of the day.”.. As chairman of the political law practice at Perkins Coie, Elias oversees 18 attorneys and represents nearly every Democratic senator. The firm’s client list also includes the Democratic Congressional Campaign Committee, the Democratic National Committee and the Democratic Governors Association.

The 45-year-old was born in New York City, grew up on Long Island and attended high school in Suffern, a small town in suburban Rockland County. He’s one of two sons to a stay-at-home-mom and a father who worked on Wall Street before becoming a small-business owner. They were “New Deal Democrats, Jews from New York,” Elias said, laughing. He graduated from Hamilton College in 1990 with a degree in government before going to Duke, where he earned both a law degree and a master’s in political science in 1993. He joined Perkins Coie and quickly moved into the political law practice under Bob Bauer, who would go on to become campaign and White House counsel to Barack Obama, and Judy Corley, who became in-house counsel to Richard Gephardt after Republicans won the House majority in 1994.” [RollCall]

California: 200,000 Acres and Epic Homelessness

Just how more twisted can it all get in California? Anyone heard from Ryan Zinke, Secretary of the Interior lately?

AP: Homelessness is not a new issue to America’s West Coast. But it’s getting worse – much worse.

On any given night, more than 105,000 people are sleeping unsheltered in some of the country’s biggest and trendiest metropolises, driven there by soaring housing costs, rental vacancy rates that rival those in Manhattan and a booming tech economy that’s leaving thousands behind. Another 63,000 are sleeping in shelters or transitional housing with no safety net.

The rising numbers have pushed abject poverty into the open like never before.

San Diego now scrubs its sidewalks with bleach to counter a deadly hepatitis A outbreak that has spread to other cities and forced California to declare a state of emergency. In Anaheim, home to Disneyland, 400 people sleep along a bike path in the shadow of Angel Stadium. Organizers in Portland, Oregon, lit incense at a recent outdoor food festival to mask the stench of urine in a parking lot where vendors set up shop.

All along the coast, elected officials are scrambling for solutions .

“It’s a sea of humanity crashing against services, and services at this point are overwhelmed, literally overwhelmed,” said Jeremy Lemoine, who works for a Seattle nonprofit that provides various forms of assistance to the homeless. “It’s catastrophic.” The photo gallery is here.

SEATTLE (AP) — Housing prices are soaring here thanks to the tech industry, but the boom comes with a consequence: A surge in homelessness marked by 400 unauthorized tent camps in parks, under bridges, on freeway medians and along busy sidewalks. The liberal city is trying to figure out what to do.

Public health is at risk, several cities have declared states of emergency, and cities and counties are spending millions — in some cases billions — in a search for solutions. Organizers in Portland lit incense at an outdoor food festival to cover up the stench of urine in a parking lot where vendors set up shop.

They have no running water and no propane for the cook stove. They go to the bathroom in a bucket and dump it behind a nearby business.

After four months, the stench of human waste inside the RV is overwhelming. They are exhausted, scared and defeated, with no solution in sight.

“Between the two of us a month, we get $1,440 in disability,” he said. “We can’t find a place for that.”

Voters have approved more than $8 billion in spending since 2015 on affordable housing and other anti-homelessness programs, mostly as tax increases. Los Angeles voters, for example, approved $1.2 billion to build 10,000 units of affordable housing to address a homeless population that’s reached 34,000 people within city limits.

Jeremy Lemoine, an outreach case manager with REACH in Seattle, called it the situation a refugee crisis.

*** So, what role does the Department of Fish and Wildlife along with the Department of Interior play in this homelessness at least in California?

Seeking to free up about 200,000 acres from Ventura County to San Diego for housing, a group representing property owners, homebuilders and others has filed a lawsuit seeking to loosen the endangered species status for the coastal California gnatcatcher.

The lawsuit, filed Thursday, Nov. 2, by the Pacific Legal Foundation, asks the U.S. Fish and Wildlife Service to conduct a fair review of scientific evidence that has emerged casting doubt on the rarity of the bird. More here.

*** So we have this bird, a gnatcatcher that is getting in the way of housing and property rights at least in parts of California. Yup, you read that right. There is a lawsuit underway and honestly, it has been a legal issues for decades….yes….decades.

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Remember that Delta Smelt, that little fish that was destroying farming in California? (A case that is in fact still an issue in 2017) Now we have a bird, that is not an endangered species that is hurting property owners and the entire construction and housing industry in California.

Wonder if those homeless know about that gnatcatcher…

Saudi: Prince AlWaleed bin Talal is in the Criminal Stacks

Finally…

So Harvard University what say you?

The Prince Alwaleed Bin Talal Islamic Studies Program promotes the scholarly study of Islam and the Muslim world in a broadly interdisciplinary context.

The Islam in the West (IITW) program is an interfaculty initiative launched in 2003 with funds from the Office of the Provost at Harvard University. The Program’s mission is to enhance our knowledge on Muslim minorities in secular and democratic contexts in the West, assist undergraduate and graduate students from different schools and disciplines find guidance and resources, develop a collaborative group of Harvard faculty members from different disciplines with an interest in the subject, and to advance knowledge in an increasingly important area of research. More here.

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Forbes posted a 2010 interview with the Prince:

Would you look into purchasing more American real estate?
Well, we are a presence in the U.S., but maybe not directly through our real estate in the
ownership of hotels. For example, we own the Plaza in New York. We own, for example,
the Four Seasons brand with Bill Gates. We own the Fairmont brand with the Colony
group, private equity. I own almost 100 hotels in North America. Some of them are only in management, but some of them we have some small stakes in them. So we are in the real estate arena in the United States indirectly through our hotel portfolio. More details here.

RIYADH, Saudi Arabia — Saudi Arabia has arrested dozens of princes, senior military officers, businessmen and top officials, including a well-known royal billionaire with extensive holdings in Western companies, as part of a sweeping purported anti-corruption probe that further cements control in the hands of its young crown prince.

A high-level employee at Prince Alwaleed bin Talal’s Kingdom Holding Co. told The Associated Press that the royal, who is one of the world’s richest men, was among those detained overnight Saturday. The company’s stock was down nearly 9 percent in trading Sunday on the Saudi stock exchange.

Reports suggested those detained were being held at the Ritz Carlton in Riyadh, which only days earlier hosted a major investment conference with global business titans from the U.S., Japan and other countries. A Saudi official told The Associated Press that other five-star hotels across the capital were also being used to hold some of those arrested.

The surprise arrests, which also reportedly include two of the late King Abdullah’s sons, were hailed by pro-government media outlets as the greatest sign yet that Crown Prince Mohammed bin Salman is keeping his promise to reform the country, long been plagued by allegations of corruption at the highest levels of government.

A Saudi government official with close ties to security says 11 princes and 38 others are being held. The official spoke to the AP on condition of anonymity because he was not authorized to speak to the press.

Saudi Twitter accounts released several other names of those arrested, such as: Alwalid al-Ibrahim, a Saudi businessman with ties to the royal family who runs the Arabic satellite group MBC; Amr al-Dabbagh, the former head of the Saudi Arabian General Investment Authority; Ibrahim Assaf, the former finance minister; and Bakr Binladin, head of the Saudi Binladin Group, a major business conglomerate.

An earlier crackdown on perceived critics of the crown prince included clerics, writers, lesser-known princes and Saudi figures popular on social media.

“The dismissals and detentions suggest that Prince Mohammed rather than forging alliances is extending his iron grip to the ruling family, the military, and the national guard to counter what appears to be more widespread opposition within the family as well as the military to his reforms and the Yemen war,” James M. Dorsey, a Gulf specialist and senior fellow at Nanyang Technological University in Singapore, said an analysis of the shake-up. More here.

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In part from Reuters:

Aside from a stake in Citigroup, Prince Alwaleed, 62, owns significant stakes in Twitter (TWTR.N), ride-hailing firm Lyft and Time Warner (TWX.N).

His investment firm Kingdom Holding 4280.SE – whose share price plunged 10 percent on Sunday in response to news of his detention – recently bought about half of a 31.1 percent stake in Saudi lender Banque Saudi Fransi 1050.SE from France’s Credit Agricole (CAGR.PA).

FINANCE MINISTER‘S SON

Prince Alwaleed’s father was the kingdom’s finance minister during the 1960s. Prince Alwaleed formed Kingdom Holding in 1979, initially pouring money into real estate in Riyadh; in the 1990s he ventured into Wall Street, investing heavily in Citigroup.

He had a close relationship with former Citigroup Chief Executive Sanford “Sandy” Weill, and has nurtured close ties with other Wall Street leaders including Goldman Sachs (GS.N) CEO Lloyd Blankfein.

Prince Alwaleed increased his stake in Citigroup at the height of the global financial crisis a decade ago and he has held on to the stake, saying as recently as last month that he was very happy with the investment.

“He’s always been a colorful and unofficial public face of Saudi Arabia, though he has never been a key decision-maker in the kingdom,” a Gulf-based businessman said.

During the U.S. election campaign, Prince Alwaleed demanded that Trump withdraw from the election campaign after the candidate pledged to ban Muslims’ entry into the United States.

Trump responded by tweeting that the Saudi prince wanted to control “our politicians with daddy’s money. Can’t do it after I get elected.”

After Trump’s election victory, Prince Alwaleed said whatever their past differences, America had spoken, and he congratulated Trump on his victory.

Prince Alwaleed was an early advocate of women’s employment in Saudi Arabia and a lifting of the ban on women driving. In September, King Salman ordered that the ban should be lifted next year.