In this Nov. 26, 2019 file photo, then Secretary of State Mike Pompeo smiles as he speaks with reporters at the State Department in Washington. The State Department says it's looking into the the apparent disappearance of a nearly $6,000 bottle of whisky given to former Secretary of State Mike Pompeo by the government of Japan. (AP Photo/Alex Brandon)
By Matthew Lee
The State Department said Wednesday it’s looking into the apparent disappearance of a nearly $6,000 bottle of whisky given more than two years ago to then-Secretary of State Mike Pompeo by the government of Japan. Pompeo knows nothing about the gift or an inquiry, a representative said.
In a notice filed in the Federal Register, the department said it could find no trace of the bottle’s whereabouts and that there is an “ongoing inquiry” into what happened to the booze. The department reported the investigation in its annual accounting of gifts given to senior U.S. officials by foreign governments and leaders.
The department's Office of Protocol is required to record gifts given to U.S. officials and keep track of their disposition. Recipients have the option of turning gifts of a certain value over to the National Archives or another government entity or purchasing them for personal use by reimbursing the Treasury Department for their value.
The Japanese whisky was valued at $5,800 and was presented to Pompeo in June 2019, presumably when he visited the country that month for a Group of 20 summit that was also attended by President Donald Trump. But unlike other gifts, the department said there was no record of what had become of the bottle.
“The department is looking into the matter and has an ongoing inquiry,” it said in the Federal Register notice. The notice offered no additional detail. A representative for Pompeo said Pompeo “has no knowledge of the gift and has not been contacted by anyone regarding an investigation of it.”
Pompeo also reported receiving two carpets worth a total of $19,400 from the president of Kazakhstan and the foreign minister of the United Arab Emirates. Both floor coverings were transferred to the General Services Administration, the notice said.
The filing said Trump and his wife, Melania, received more than $120,000 worth of presents from foreign leaders in 2019, compared with $88,200 the year before. In Trump's first year in office, in 2017, they reported receiving more than $140,000 in gifts.
There was no significant common theme to the 2019 gifts. At least three foreign leaders — from Australia, Egypt and Vietnam — presented Trump with photographs or portraits of himself that collectively were valued at more than $10,000.
Trump received a painting of himself on “dual pane glass” from then-Vietnamese President Nguyen Phu Trong that was worth an estimated $5,250, according to the filing. It also says Trump got a “large double frame carved from black stone with image of President Donald J. Trump in precious metal on one side and the coat of arms of Egypt on the reverse” worth $4,450 from Egyptian President Abdel-Fattah el-Sisi. Australian Prime Minister Scott Morrison gave Trump a framed photo of himself and his wife worth $470.
Other more expensive gifts Trump received included an Ottoman Empire rifle valued at $8,500 from the prime minister of Bulgaria, a bronze sculpture of an Arabian horse from the crown prince of Bahrain worth $7,200 and a gold, onyx, emerald and diamond statue of an Arabian oryx worth $6,300 from the emir of Qatar.
All of those gifts, including the portraits and photograph, were turned over to the National Archives, according to the report.
Another significant recipient of gifts was now-retired Gen. Joseph Votel, commander of U.S. Central Command until March 2019; that command oversees American military operations in the Middle East. The government of Qatar lavished Votel with nearly $37,000 in luxury watches in 2019, including one Rolex timepiece valued at $14,995, according to the report. Votel turned those watches over to the GSA.
A new report from ProPublica and the Washington Post found that Facebook Groups played a major role in the spread of misinformation linked to the January 6 insurrection with more than 650,000 posts claiming that Joe Biden's election victory was illegitimate.
Millions of Americans with young children have relied on the child tax credit since the federal government began issuing checks in July 2021. The last round of payments was sent out just before the Christmas holiday — at the same time as the omicron variant surged. Leah Hamilton, associate professor of social work at Appalachian State University, joined Cheddar to discuss what the end to the tax credit means as the U.S. sees the end of many relief programs and its highest number of COVID cases since the start of the pandemic. "It'll become harder for families to meet their basic needs, increasing national childhood poverty rates and the proportion of families who have difficulty putting food on the table, maintaining stable housing, and paying their bills," Hamilton said. She also pointed to research that the credit as a long-term investment in children offsets claims that it contributes to macroeconomic impacts like inflation.
U.S. President Joe Biden spoke with Ukrainian President Volodymyr Zelensky over the week-end, just days after he spoke with Russian President Vladimir Putin. The call comes as Washington prepares to meet with Moscow on January 10, as tensions mount over Russia's military build up near its border with Ukraine. Cheddar News speaks with Mustafa Tameez, a former advisor to the U.S. Department of Homeland Security, about the issue.
Several Silicon Valley insiders are being accused of contorting a 1990s-era tax break to avoid taxes on millions of dollars of investment profits. The tax break is known as the qualified small business stock exemption, and it allows early investors in certain companies to avoid half of the taxes on up to $10 million in capital gains. A piece recently published in the New York Times says venture capital firms like Andreessen Horowitz replicated the tax exemption by giving shares of companies to friends and family, who would otherwise face a 23.8% capital gains bill. The CEO of Roblox is also accused of replicating the tax break for his family members at least 12 times. Although the loophole known as 'stacking' is considered to be legal, the Times piece implies that the exemption has been manipulated for the ultra-wealthy to become more wealthy. Greycroft co-founder and Chairman Emeritus Alan Patricof joins Cheddar News' Closing Bell to discuss.
Chris Sommerfeldt, City Hall reporter for the New York Daily News, joins Cheddar News' Closing Bell, where he discusses both the wins and losses of Bill de Blasio's eight years as New York City Mayor.
The push to regulate the gig worker economy is gaining steam as the share of workers who participate in freelancing through businesses like Uber and Lyft have also exponentially grown during the pandemic. Employment attorney Mark Kluger, founding partner at Kluger Healey, LLC, joined Cheddar to break down how the battle to reclassify gig workers will continue in the new year, and why the issue continues to generate conflict. "More and more workers are using gig work as their primary source of income and as a result of that they are not like employees in the sense that they don't have benefits like health insurance," Kluger noted.
2021 saw markets continue to be impacted by the onslaught of the coronavirus pandemic -most recently in the form of the Omicron variant- in addition to the global supply chain shortage, and increased inflation. But it wasn't all bad news, as crypto soared throughout the year, and meme stocks continued to have a moment. With the year coming to a close, investors are keeping an eye out to see if they should expect more of the same in the new year. Chris Vecchio, Senior Analyst, at DailyFX tells us what market trends to be on the watch for in 2022.
