NASHVILLE, Tenn. (AP) — Two new cabinet officials have investments that could cause conflicts with their duties to the state.
A review of disclosure statements by The Tennessean found Department of General Services head Steve Cates holds stakes in utilities; an equipment leasing firm; and one of the world's largest makers of air conditioners, elevators and fire and security systems.
Richard Roberts, who will lead the Department of Revenue, holds investments in many companies that operate in Tennessee including banks, energy companies, insurers and an airline.
Although the officials have to disclose the sources of their income, they do not have to disclose how much they earn. That's because of a policy change by Gov. Bill Haslam first reported by The Associated Press.
Both men said through spokeswomen that they will act with integrity.
Information from: The Tennessean, http://www.tennessean.com
Copyright 2011 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.