Trump nominates ex-NLRB member R. Alexander Acosta as Labor secretary

President Donald J. Trump named R. Alexander Acosta as his new nominee for Labor secretary, the first Hispanic in his cabinet.
FEB 16, 2017
By  Bloomberg

President Donald J. Trump named former National Labor Relations Board member R. Alexander Acosta as his new nominee for labor secretary, the first Hispanic he has chosen for his cabinet. Mr. Trump said Mr. Acosta will be "a tremendous secretary of labor." Mr. Acosta replaces Mr. Trump's first nominee for the position, Andy Puzder, who withdrew his name Wednesday amid controversy over his personal life and business background. Mr. Acosta served as assistant attorney general for the Civil Rights Division under President George W. Bush and was U.S. attorney for the Southern District of Florida. He once clerked for then-Appeals Court judge Justice Samuel Alito. He is currently the dean of Florida International University and the chairman of U.S. Century Bank. He met with Trump Wednesday evening, a White House official said. (More: Awaiting new Labor secretary, staff takes on larger role in fiduciary rule's fate.) "He's intense, hardworking, but I think in contrast to Mr. Puzder, he's going to get things done more quietly," said Tammy McCutcheon, who served as administrator of the Wage and Hour Division of the Labor Department during the Bush administration. "He will be quietly efficient. I don't think you'll see a lot of difference in his policy positions from Puzder." Mr. Puzder, a fast-food executive who had been scheduled for a Senate confirmation hearing Thursday, ran into trouble in the Senate over his admission that he employed an undocumented housekeeper. Also shadowing his nomination were divorce-court proceedings that included a domestic-abuse allegation. Some conservatives had questioned his pro-immigration stance. In the 52-48 Senate, three Republican defections would have doomed Mr. Puzder if all 48 Democrats voted to deny him, and as many as a dozen GOP senators had indicated they wouldn't back the nomination. Mr. Puzder is head of the fast-food conglomerate CKE Restaurants Inc. that includes Carl's Jr. and Hardee's. His withdrawal came after a week that saw party-line confirmations in the Senate and a tie-breaking vote cast by Vice President Mike Pence to confirm Education Secretary Betsy DeVos. That 51-50 tally was the first time a vice president ever broke a tie on a cabinet nomination. Mr. Trump has already lost one senior member of his administration. He dismissed Mike Flynn as national security adviser on Monday because the administration said he may have misled the president and vice president about his communications with a Russian envoy.

Latest News

RIA M&A stays brisk in first quarter with record pace of dealmaking
RIA M&A stays brisk in first quarter with record pace of dealmaking

Driven by robust transaction activity amid market turbulence and increased focus on billion-dollar plus targets, Echelon Partners expects another all-time high in 2025.

New York Dems push for return of tax on stock sales
New York Dems push for return of tax on stock sales

The looming threat of federal funding cuts to state and local governments has lawmakers weighing a levy that was phased out in 1981.

Human Interest and Income Lab streamline workflows for retirement-focused advisors
Human Interest and Income Lab streamline workflows for retirement-focused advisors

The fintech firms' new tools and integrations address pain points in overseeing investment lineups, account monitoring, and more.

Buy or sell Canada? Wealth managers watch carefully as Canadians head to the polls
Buy or sell Canada? Wealth managers watch carefully as Canadians head to the polls

Canadian stocks are on a roll in 2025 as the country prepares to name a new Prime Minister.

Carson, Lido strengthen RIA networks with bicoastal deals
Carson, Lido strengthen RIA networks with bicoastal deals

Carson is expanding one of its relationships in Florida while Lido Advisors adds an $870 million practice in Silicon Valley.

SPONSORED Compliance in real time: Technology's expanding role in RIA oversight

RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.

SPONSORED Advisory firms confront crossroads amid historic wealth transfer

As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.