South Carolina has a place in presidential candidate Donald Trump’s portfolio.
According to his 92-page financial disclosure released last week, Trump listed a single business interest in the Palmetto State: a company called DB Pace Acquisition LLC. The billionaire lists himself as a member and president of the company.
The question is, what is it?
The vague federal disclosure form only says the company’s underlying asset is a mortgage. The value range was estimated at between $1 million and $5 million. Trump owns 99 percent of the venture. An entity called DB Pace Acquisition Member Corp. owns the other 1 percent.
The S.C. Secretary of State website shows DB Pace Acquisition LLC was set up Sept. 14 by a corporate-registration firm in Columbia. A Trump spokeswoman did not respond to a request for comment Friday.
During a visit to Charleston in the spring, Trump said he had already has “invested in something” in the local area.
“I’ll announce it at the appropriate time,” he said in April. “It’s very interesting.”
The name DB Pace Acquisition does not show up in any local property records. A Google search yields practically nothing.
One of Trump’s sons, Donald Trump Jr., is involved in the ownership of the former Navy hospital on Rivers Avenue in North Charleston.
As for Trump Sr., he has at least one local business tie-in: His Trump Organization bought the financially troubled Doonbeg Golf Club and the Lodge at Doonbeg for about $20.5 million early last year. The Irish seaside resort was originally built and owned by an affiliate of Charleston-based Kiawah Development Partners. Perhaps the “DB” refers to Doonbeg.
Four companies are in the running for a $125,000 top prize in this year’s SAFE Energy Security award, which will be broadcast live from Charles Towne Landing this Friday on the CNBC cable TV network.
The award is given to companies whose innovations help advance U.S. energy security by helping to end the country’s dependence on oil. It’s sponsored by SAFE, or Securing America’s Future Energy, along with The InterTech Group of North Charleston, Clemson University and CNBC. The four semifinalists are:
FreeWire Technologies’ Mobi charging system that helps eliminate the “charge rage” facing areas with too many electric vehicles and too few charging stations.
Momentum Dynamics’ high-power wireless charging system that delivers energy to electric vehicles 10 times faster than plug-in chargers.
Peloton Technology’s wireless communications system and cloud-based management that links sensors and braking between trucks to provide fuel savings and increased safety.
SeaChange Group’s Eco-Hybrid fuel that reduces emissions in diesel engines.
Three companies will be chosen to make pitches for the top prize live on the cable network’s “Power Lunch” show with Morgan Brennan at noon. Third-place winner will get $15,000, second place $35,000, and the winner will get $125,000.
The top prize is in honor of the late Jerry Zucker, the billionaire founder of InterTech. His widow, Anita Zucker, who is CEO of the conglomerate, will be among the speakers. Others include: Gen. T. Michael Moseley, former chief of staff of the Air Force; and executives from Proterra, GE, Michelin, Siemens and Versa.
Volvo Cars North America — which will start building its first U.S.-based manufacturing plant later this year in Berkeley County — is holding steady on vehicle sales in this country, according to the Swedish carmaker’s latest statistics.
Through the first half of this year, Volvo has sold 29,330 vehicles to North American consumers. That nearly matches the 29,366 vehicles sold during the first half of 2014.
Volvo Cars is midway through a global transformation that involves the complete remake of its product range.
Volvo will invest $500 million in its Berkeley County campus, which will employ up to 4,000 workers and produce 100,000 vehicles per year for U.S. consumers and export. Construction will start this fall and the first vehicle is scheduled to roll off the production line in 2018. A new I-26 interchange that will make it easier to reach the plant site won’t be competed until 2019, the S.C. Commerce Department said.