Gerald Fauth is an American businessperson who serves on the National Mediation Board (NMB). Fauth was first appointed to the NMB by President Donald Trump in 2017 and served as its Chairman from November 2017 to June 2018 and again from July 2021 to June 2022. Prior to joining the NMB, he was the president of G.W. Fauth & Associates Inc., a transportation economic consulting firm. Fauth has been criticized over his decision to dump stocks in February 2020, one week prior to the coronavirus market crash. Fauth dumped the stocks immediately after receiving a phone call from his brother-in-law, Senator Richard Burr, who was privy to material nonpublic information about the impact of COVID-19.

Education

Fauth attended St. Stephen's School for Boys in Alexandria, Virginia, until 1974. In 1978 he earned a Bachelor of Arts in history in government from Hampden-Sydney College.

Career

After graduating from Hampden-Sydney College, Fauth joined G.W. Fauth & Associates (GWF), which was founded by his late father in 1957, in a full-time capacity. He worked at the company until November 1, 1999, when he accepted a position with the U.S. Surface Transportation Board (STB). At STB, Fauth was chief of staff for Vice Chairman Wayne O. Burkes. When Burkes ran for a political office, Fauth returned to GWF in June 2003. During his time at the Surface Transportation Board, several rail companies merged, and Fauth was responsible for the resolution of ensuing labor disputes and the harmonizing of

bargaining In the social sciences, bargaining or haggling is a type of negotiation in which the buyer and seller of a good or service debate the price or nature of a transaction. If the bargaining produces agreement on terms, the transaction takes plac ...

agreements. From 1999 to 2003, he worked at the

Surface Transportation Board The Surface Transportation Board (STB) of the United States is a federal, bipartisan, independent adjudicatory board. The STB was established on January 1, 1996, to assume some of the regulatory functions that had been administered by the Intersta ...

as chief of staff and senior advisor. Fauth is a member of the Transportation Research Forum and the Association of Transportation Law Professionals. In May 2020, ProPublica reported that Fauth had sold tens of thousands of dollars in stock prior to the

2020 stock market crash On 20 February 2020, stock markets across the world suddenly crashed after growing instability due to the COVID-19 pandemic. It ended on 7 April 2020. Beginning on 13 May 2019, the yield curve on U.S. Treasury securities inverted, and rema ...

, on the same day that his brother-in-law Richard Burr also sold a large number of his shares. Burr, who chaired the

Senate Intelligence Committee The United States Senate Select Committee on Intelligence (sometimes referred to as the Intelligence Committee or SSCI) is dedicated to overseeing the United States Intelligence Community—the agencies and bureaus of the federal government of ...

, is under federal investigation due to suspicions of insider trading. According to the Securities and Exchange Commission, Burr had a 50 second phone conversation with Fauth in February 2020 – immediately afterwards, Fauth called his broker.

References

{{DEFAULTSORT:Fauth, Gerald Living people Hampden–Sydney College alumni Trump administration personnel Year of birth missing (living people)