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The Journal Gazette

Saturday, January 07, 2017 10:00 pm

Tillerson reveals his holdings

News services

Rex Tillerson, the former Exxon CEO picked by President-elect Donald Trump to be the next secretary of state, owns stock in some of his old competitors and a slew of other companies with operations around the world.

Tillerson’s holdings include shares of Chevron Corp., Royal Dutch Shell, Apple Inc. and General Electric Co. He disclosed them in a filing with the federal Office of Government Ethics.

The disclosure form only requires Tillerson to list values of his investments within dollar-amount ranges. For example, he listed Chevron and Phillips 66 stock worth between $15,001 and $50,000 each. His Apple stock could be worth up to $300,000.

Those stakes are small in comparison with his Exxon Mobil Corp. nest egg. Exxon disclosed last week that it will cash out Tillerson’s unvested shares in the company for about $180 million at current prices. He has pledged to sell 611,000 shares he already owns, worth about $55 million, and will get about $70 million from Exxon retirement plans.

VW Golf outsells Volvo in Sweden

A Volvo model is no longer the top selling car in Sweden – for the first time in more than 50 years.

Bertil Molden, spokesman for Swedish car retail and industry agency Bil, says a record 372,300 cars were registered in the Scandinavian country last year, an increase of 7.9 percent over 2015.

Molden said last week that although Volvo remained the top car brand overall, it did not have the single best-selling model. That was the Volkswagen Golf, which sold more than 22,000 units in 2016. Volvo took the next three places, with the V70/V90 model in second spot registering sales of 21,300 units.

Icahn has no plans to sell casino

Billionaire investor Carl Icahn says his shuttered Trump Taj Mahal casino in Atlantic City, New Jersey, is not for sale, and he appears content to sit on it for a while.

Icahn told The Associated Press last week he does not want to sell the casino, which he closed Oct. 10 after a bitter strike with Atlantic City’s main casino workers’ union.

But he plans to surrender its casino license, and wants to make sure that anyone who might buy it in the future can’t use it as a casino unless they pay his company an unspecified fee.

Icahn’s company filed a deed restriction preventing a future buyer from using the Taj Mahal as a casino.