$TRUMP
$XAU #ZECHitsANewAllTimeHigh #LululemonTumbles20%OnWeakGuidance #USAugustJobGrowthNearlyTriplesForecast #USAugustAvgHourlyEarningsRise3.1% Lutnick reviews Pentagon deals with Cerberus amid conflict-of-interest concerns
The U.S. Department of Defense has chosen Commerce Secretary Howard Lutnick to oversee a review of any transactions between the Pentagon and companies linked to Cerberus Capital Management, according to Bloomberg, citing a U.S. official.
Cerberus, the private equity firm founded by Deputy Defense Secretary Stephen Feinberg, holds extensive national security-related assets, including companies that won contracts with the Department of Defense during his tenure. Lutnick’s role places on him the responsibility of scrutinizing transactions involving a firm that deals with the investment bank he headed before joining the Trump administration last year.
Feinberg has brought four former executives from the company to the Pentagon. Two of them oversee the Strategic Capital office and the economic defense unit, which are tasked with strengthening supply chains for critical resources. Under Feinberg, the Pentagon, in addition to making loans, has begun taking equity stakes in companies it views as vital to national security.
$XAU #ZECHitsANewAllTimeHigh #LululemonTumbles20%OnWeakGuidance #USAugustJobGrowthNearlyTriplesForecast #USAugustAvgHourlyEarningsRise3.1% Lutnick reviews Pentagon deals with Cerberus amid conflict-of-interest concerns
The U.S. Department of Defense has chosen Commerce Secretary Howard Lutnick to oversee a review of any transactions between the Pentagon and companies linked to Cerberus Capital Management, according to Bloomberg, citing a U.S. official.
Cerberus, the private equity firm founded by Deputy Defense Secretary Stephen Feinberg, holds extensive national security-related assets, including companies that won contracts with the Department of Defense during his tenure. Lutnick’s role places on him the responsibility of scrutinizing transactions involving a firm that deals with the investment bank he headed before joining the Trump administration last year.
Feinberg has brought four former executives from the company to the Pentagon. Two of them oversee the Strategic Capital office and the economic defense unit, which are tasked with strengthening supply chains for critical resources. Under Feinberg, the Pentagon, in addition to making loans, has begun taking equity stakes in companies it views as vital to national security.
