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Fact check: Postmaster general Louis DeJoy invested in competitors
The claim: Postmaster General Louis DeJoy has $70 million invested in companies that compete with the United States Postal Service
President Donald Trump appointed a new postmaster general for the U.S. Postal Service in May, and this summer his pick has come under criticism on social media.
"New (Republican) businessman Postmaster General Louis DeJoy has $70m invested in companies that compete w/the Postal Service," Facebook user Florence Vincent wrote in a post on July 27. She told USA TODAY that her post was based on a few stories she found.
The claim found its way to Twitter this month. User @CarolynYoung64 posted a meme on Aug. 3 with a picture of DeJoy "wearing" a badge that reads "Other98." Next to the picture is a statement about DeJoy's investments. The Other 98 is a progressive social media organization that creates meme content primarily for Facebook, according to its website.
"Trump's Postmaster General Louis DeJoy and his wife have between $30.1 million and $75.3 million in assets in U.S. Postal Service competitors and contractors," reads the meme's statement. "The man Trump put in charge of OUR Postal Service has the most to gain from its destruction."
DeJoy began his new role in June during a time of financial hardship for the Postal Service. Postal officials told Congress in April that the service could run out of money by the end of September in part because of COVID-19, according to USA TODAY.
"Contrary to media accounts and other accusations, there have been no edicts to delay the mail or eliminate overtime," Marshall and Williams wrote in an opinion piece in USA TODAY on Aug. 12. "Rather, we are ensuring that our operations run on time and on schedule, which will avoid unnecessary overtime and transportation costs. We are making these changes methodically and in ways designed to ensure the timely and cost-effective delivery of America’s mail – including election mail."
How is DeJoy tied to Trump?
In the 2016 campaign, DeJoy donated more than $440,000 to the Trump Victory Fund, the inaugural committee and the Republican National Committee, according to the Raleigh News & Observer.
DeJoy is a "longtime donor of Republican causes," according to The Washington Post. Federal Election Commission records showed more than $157,000 in donations to Republican candidates, committees and super PACS from the start of 2020 until May, when the Post published its report.
DeJoy sold New Breed Logistics to shipping company XPO Logistics in 2014 for $615 million, according to Business North Carolina.
USA TODAY confirmed DeJoy's assets and vested restricted stock units in the company are valued between $250,001-$500,000, according to Wos' nominee report.
DeJoy is also listed as having received director fees and income from XPO Logistics, a U.S. Postal Service contractor, but an income amount is not provided.
Wos' assets from UPS Inc. and freight shipping company J.B. Hunt total between $116,003-$315,000. Her own assets from XPO Logistics are valued between $30 million-$75 million.
Together, DeJoy and Wos may claim up to a total $75,815,000 in assets from U.S. Postal Service competitors, according to government records.
"The postmaster general is not required to divest of all of his assets in these kinds of investments. However, he needs to steer clear of decisions that would materially benefit the companies he is invested in. He should recuse himself from such decisions if it even comes close to that line,” Peter Schweizer, president of the Government Accountability Institute said in an email.
“I take my ethical obligations seriously, and I have done what is necessary to ensure that I am and will remain in compliance with those obligations,” DeJoy stated.
Our rating: Missing Context
We rate this claim as MISSING CONTEXT, based on our research. Louis DeJoy and his wife Aldona Wos reported between at least $30 million to just over $75 million in assets from XPO Logistics, J.B. Hunt and UPS. All are competitors with U.S. Postal Service operations. While government records confirm their ownership of the assets, the exact value of the holdings is not clear from the records.
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I'd say this couple have a web of interest conflicts that makes him unsuitable to head the USPS.
The claim: Postmaster General Louis DeJoy has $70 million invested in companies that compete with the United States Postal Service
President Donald Trump appointed a new postmaster general for the U.S. Postal Service in May, and this summer his pick has come under criticism on social media.
"New (Republican) businessman Postmaster General Louis DeJoy has $70m invested in companies that compete w/the Postal Service," Facebook user Florence Vincent wrote in a post on July 27. She told USA TODAY that her post was based on a few stories she found.
The claim found its way to Twitter this month. User @CarolynYoung64 posted a meme on Aug. 3 with a picture of DeJoy "wearing" a badge that reads "Other98." Next to the picture is a statement about DeJoy's investments. The Other 98 is a progressive social media organization that creates meme content primarily for Facebook, according to its website.
"Trump's Postmaster General Louis DeJoy and his wife have between $30.1 million and $75.3 million in assets in U.S. Postal Service competitors and contractors," reads the meme's statement. "The man Trump put in charge of OUR Postal Service has the most to gain from its destruction."
DeJoy began his new role in June during a time of financial hardship for the Postal Service. Postal officials told Congress in April that the service could run out of money by the end of September in part because of COVID-19, according to USA TODAY.
"Contrary to media accounts and other accusations, there have been no edicts to delay the mail or eliminate overtime," Marshall and Williams wrote in an opinion piece in USA TODAY on Aug. 12. "Rather, we are ensuring that our operations run on time and on schedule, which will avoid unnecessary overtime and transportation costs. We are making these changes methodically and in ways designed to ensure the timely and cost-effective delivery of America’s mail – including election mail."
How is DeJoy tied to Trump?
In the 2016 campaign, DeJoy donated more than $440,000 to the Trump Victory Fund, the inaugural committee and the Republican National Committee, according to the Raleigh News & Observer.
DeJoy is a "longtime donor of Republican causes," according to The Washington Post. Federal Election Commission records showed more than $157,000 in donations to Republican candidates, committees and super PACS from the start of 2020 until May, when the Post published its report.
DeJoy sold New Breed Logistics to shipping company XPO Logistics in 2014 for $615 million, according to Business North Carolina.
USA TODAY confirmed DeJoy's assets and vested restricted stock units in the company are valued between $250,001-$500,000, according to Wos' nominee report.
DeJoy is also listed as having received director fees and income from XPO Logistics, a U.S. Postal Service contractor, but an income amount is not provided.
Wos' assets from UPS Inc. and freight shipping company J.B. Hunt total between $116,003-$315,000. Her own assets from XPO Logistics are valued between $30 million-$75 million.
Together, DeJoy and Wos may claim up to a total $75,815,000 in assets from U.S. Postal Service competitors, according to government records.
"The postmaster general is not required to divest of all of his assets in these kinds of investments. However, he needs to steer clear of decisions that would materially benefit the companies he is invested in. He should recuse himself from such decisions if it even comes close to that line,” Peter Schweizer, president of the Government Accountability Institute said in an email.
“I take my ethical obligations seriously, and I have done what is necessary to ensure that I am and will remain in compliance with those obligations,” DeJoy stated.
Our rating: Missing Context
We rate this claim as MISSING CONTEXT, based on our research. Louis DeJoy and his wife Aldona Wos reported between at least $30 million to just over $75 million in assets from XPO Logistics, J.B. Hunt and UPS. All are competitors with U.S. Postal Service operations. While government records confirm their ownership of the assets, the exact value of the holdings is not clear from the records.
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I'd say this couple have a web of interest conflicts that makes him unsuitable to head the USPS.
