👑 Portrait of a President


(Matt Kiser) #121

#122

More deep dives into T and his family’s financial interests in the US and around the world, and how they ‘oversell,’ their properties - claim that there is more occupancy achieved/value than there really is.

ProPublica, non-profit watchdog organization finds these results.

Projects Where a Trump Family Member Overstated Sales Numbers

Dominican Republic
Claim: Donald Trump claimed $365 million in sales in a 2007 letter to The Wall Street Journal.
Reality: Trump reported $290 million in a 2009 project audit.
Result: Never built.

Fort Lauderdale
Claim: Trump announced the hotel/condo was “pretty much sold out” in April 2006, according to a broker who attended the presentation.
Reality: 62 percent of units were sold as of July 2006, according to bank records that emerged in a court case.
Result: Entered foreclosure. Trump’s name removed before construction completed.

Las Vegas
Claim: Condos “sold out,” Trump told The Associated Press in 2005
Reality: About 25 percent of units were sold by 2011, according to press accounts.
Result: Built.

Panama
Claim: “It’s a 1,000-unit building, we’ve sold over 90 percent of it,” Ivanka told Portfolio in 2008.
Reality: As of three months later, 79 percent of the units were pre-sold, according to Moody’s.
Result: Built, but went bankrupt; Trump name removed.

SoHo
Claim: In 2008, Ivanka told reporters that 60 percent of units had sold.
Reality: A Trump partner’s affidavit revealed that 15 percent had been sold at the time.
Result: Built, but went bankrupt; Trump name removed.

Tampa
Claim: The building “sold out,” Trump told The Wall Street Journal in 2007.
Reality: The developers failed to sell a minimum of 70 percent of units, according to a Trump company letter that year, which deemed that a violation of its contract.
Result: Never built.

Toronto
Claim: In a 2009 interview, Ivanka referred to the property as “virtually sold out.”
Reality: 24.8 percent of units had sold, according to a 2016 bankruptcy filing by the developers.
Result: Built, but went bankrupt; Trump name removed.

Article highlights how some of the financial deals were struck with brokers, and when payments were to be made. Also describes the percentages T’s reaped after a building was occupied. I know nothing about how licensing works, but these seem like extremely favorable rates for T’s family.

Even as brokers were taking cash out quickly, buyers were given time to put their money in. They anted up just 10 percent upon signing a purchase contract, according to the bond prospectus. They paid the remaining 20 percent in increments over the year after that.

Khafif complained of soaring construction costs and raised prices even as brokers hustled for contracts, Studnicky said. “I kept saying I understand the problem, but if you keep pushing the prices up, people are never going to be able to close on these things,” he said.

The higher prices climbed, the more the Trumps stood to pocket. Their licensing agreement gave them a base fee of 4 percent of gross sales when units closed. (This was on top of the $1 million Trump was given in advance for the use of his name.) They also received an “incentive fee”: the higher the price rose above benchmarks, the greater a proportion the Trumps earned, records show. A hotel-condominium unit that sold for $385,000, for example, would produce a payment of $20,650 — just over 5 percent — to Trump’s company.

That was just the beginning. Along with the cut of sales, Trump’s 2006 licensing agreement provided the family other cash streams from the Panama project. The Trumps could take a 20 percent commission on construction costs if money was saved through Trump dealmaking, for instance. Once the hotel opened, they would pocket 17.5 percent of what hotel guests paid for their rooms, including what they spent on minibar items, internet service and even bathrobes; 4 percent for parking unit sales; and 12 percent of commercial space rentals. The Trump Organization would also receive 4 percent of the hotel’s gross revenue for managing it, plus an incentive fee equal to a fifth of the hotel’s net operating income.


#123

Some imponderables as to why T does or does NOT do things…or act on things.

@ddale8 (Daniel Dale - Journalist Toronto Star)

AP: Why haven’t you visited troops in a combat zone?

Trump: “Well, I will do that at some point, but I don’t think it’s overly necessary. I’ve been very busy with everything that’s taking place here. …I’m doing a lot of things. But it’s something I’d do. And do gladly.”
8:05 PM - 16 Oct 2018


#124

So the President just declared himself a Nationalist at a campaign rally for Ted Cruz. So that becomes a fact now right? We now have a self-proclaimed Nationalist President.


#125

The words “nationalist” and “globalist” — both loaded terms with sometimes sinister implications — have made their way into the popular political lexicon since Trump ascended to the White House.

He is INSTIGATOR-IN-CHIEF - and knows only rhetoric, rabble-rousing his base for the mid-terms.

Another famous instigator and spouting Nationalism, who knows no civil boundaries - Hilter

Disgusting. :hear_no_evil:


#126

I’ve always felt that the term “Nationalist” is a not-very-subtle dog whistle that White Nationalists, Fascists, and Nazis actually hear loud and clear. :angry:


#127

1/

@costareports Robert Costa Wapo

The president’s embrace of the word nationalism tonight is a marker, the culmination of many years of resisting the label, which he at first saw as a Bannon/Breitbart thing and a loaded, far right label that was an odd fit for a combative NY ex-Dem turned immigration hawk…
2/

Follow thread…

3/

But it became clear over time that Trump’s aversion to “nationalism” and “populism” wasn’t an aversion to those ideas and what fueled them, but to the people associated w/ them. Identity-wise, he didn’t want to be see as a Bannonite, a Buchananite, or part of a movement.

4/
What Trump did tonight is finally finish the rhetorical journey. He acknowledged what he’s been the whole time: a nationalist, one of many in the world. He frames politics in transactional and deeply nationalistic terms, focused on perceived threats to his concept of the nation.

1/


#128

Truth


#129

@JohnJHarwood

former WH communications director Scaramucci, to CNN, on Trump: “We both know that he is telling lies. If you want me to say he’s a liar, I’m happy to say he’s a liar"
7:36 AM - 24 Oct 2018


#130

The Mooch has a way with words…continuing on the proclamation that yes, T is a Liar…(and Mooch and T knows it is effective)

@jdawsey1

Josh Dawsey Retweeted Jennifer Jacobs

The Mooch says it is better to lie when you are lying to troll and incite people

@JenniferJJacobs

He’s an intentional liar, It’s very different than just being a liar-liar,” Scaramucci says.

Trump speaks mistruths to “incite certain people,” including Dems and left-leaning journalists, he says.

https://www.bloomberg.com/news/videos/2018-10-25/scaramucci-on-why-blue-collar-americans-love-trump-video

Jennifer Jacobs
‏Verified account @JenniferJJacobs
1h1 hour ago

Scaramucci on @BloombergTV:

"President is an orange bowling ball and he’s going to bowl a strike on those guys," he says of Dem presidential hopefuls.

"Trump has this like Twitter insect light and he vaporizes everybody" by getting inside their heads.

https://www.bloomberg.com/news/videos/2018-10-25/scaramucci-on-why-blue-collar-americans-love-trump-video


#131

Piles of lies…interview with Journalist Daniel Dale, Toronto Star and Judy Woodruff, PBS.

At a Monday rally, President Trump made comments about a caravan of Central American migrants that had fact-checkers on the alert. Since the president took office, they’ve identified 2,915 claims that cannot be verified by the truth. Daniel Dale, Washington bureau chief of the Toronto Star, joins Judy Woodruff to discuss Trump’s increasing rate of dishonesty and how the press should report on it.

Judy Woodruff:

And I should say we at the “NewsHour” talk about inaccurate statements, false statements. You’re comfortable using the word lie. Why?

Daniel Dale:

Because I think that’s the only accurate word for some of the claims he makes.

I also sometimes describe his claims as false claims. Sometimes, we don’t know if he’s confused, if he’s made an innocent error, but, in other cases, it’s clear that he simply fabricated something.

For example, he claimed at one point that the head of the Boy Scouts had called him and said that his speech to the Boy Scouts was the best speech ever given the Boy Scout Jamboree. The Boy Scouts told me, no one ever spoke to him, no one ever called him, no one ever said that.

And so in a case like that, I think, in our — in our regular lives, I think the word we would use is lie. So, I think we as journalists should use it in our articles as well.


#132

The White House has reportedly created a new strategy to get President Donald Trump to zero in on policy matters—a schedule block called “policy time.” It’s reminiscent of Trump’s “executive time,” which seemed to consist of tweet storms and cable TV viewing.