More deep dives into T and his familyās financial interests in the US and around the world, and how they āoversell,ā 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 āpretty much sold outā 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. Trumpās name removed before construction completed.
Las Vegas
Claim: Condos āsold out,ā 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: āItās a 1,000-unit building, weāve sold over 90 percent of it,ā Ivanka told Portfolio in 2008.
Reality: As of three months later, 79 percent of the units were pre-sold, according to Moodyās.
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 partnerās affidavit revealed that 15 percent had been sold at the time.
Result: Built, but went bankrupt; Trump name removed.
Tampa
Claim: The building āsold out,ā 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 āvirtually sold out.ā
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 Tās reaped after a building was occupied. I know nothing about how licensing works, but these seem like extremely favorable rates for Tās 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. āI 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,ā 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 āincentive feeā: 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 ā just over 5 percent ā to Trumpās company.
That was just the beginning. Along with the cut of sales, Trumpās 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 hotelās gross revenue for managing it, plus an incentive fee equal to a fifth of the hotelās net operating income.
Some imponderables as to why T does or does NOT do thingsā¦or act on things.
@ddale8 (Daniel Dale - Journalist Toronto Star)
AP: Why havenāt you visited troops in a combat zone?
Trump: āWell, I will do that at some point, but I donāt think itās overly necessary. Iāve been very busy with everything thatās taking place here. ā¦Iām doing a lot of things. But itās something Iād do. And do gladly.ā
8:05 PM - 16 Oct 2018
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.
The words ānationalistā and āglobalistā ā both loaded terms with sometimes sinister implications ā 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.
Iāve always felt that the term āNationalistā is a not-very-subtle dog whistle that White Nationalists, Fascists, and Nazis actually hear loud and clear.
1/
@costareports Robert Costa Wapo
The presidentās 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 hawkā¦
2/
Follow threadā¦
3/
But it became clear over time that Trumpās aversion to ānationalismā and āpopulismā wasnāt an aversion to those ideas and what fueled them, but to the people associated w/ them. Identity-wise, he didnāt 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 heās 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/
@JohnJHarwood
former WH communications director Scaramucci, to CNN, on Trump: āWe both know that he is telling lies. If you want me to say heās a liar, Iām happy to say heās a liar"
7:36 AM - 24 Oct 2018
The Mooch has a way with wordsā¦continuing on the proclamation that yes, T is a Liarā¦(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
āHeās an intentional liar, Itās very different than just being a liar-liar,ā Scaramucci says.
Trump speaks mistruths to āincite certain people,ā including Dems and left-leaning journalists, he says.
Jennifer Jacobs
āVerified account @JenniferJJacobs
1h1 hour agoScaramucci on @BloombergTV:
"President is an orange bowling ball and heās 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.
Piles of liesā¦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, theyāve 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 Trumpās increasing rate of dishonesty and how the press should report on it.
ā¦
Judy Woodruff:
And I should say we at the āNewsHourā talk about inaccurate statements, false statements. Youāre comfortable using the word lie. Why?
Daniel Dale:
Because I think thatās the only accurate word for some of the claims he makes.
I also sometimes describe his claims as false claims. Sometimes, we donāt know if heās confused, if heās made an innocent error, but, in other cases, itās 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 ā 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.
The White House has reportedly created a new strategy to get President Donald Trump to zero in on policy mattersāa schedule block called āpolicy time.ā Itās reminiscent of Trumpās āexecutive time,ā which seemed to consist of tweet storms and cable TV viewing.
Okā¦let the fireworks begin.
Might as well get Rex Tillersonās thoughts on what he REALLY thinks about Tā¦This headline kind of says it allā¦āUndisciplined, doesnāt like to readā and tries to do illegal thingsā
Are we sensing that right now, T is up against all of it. I think so.
The end may be nearā¦wishful but hopeful thinking
Rex Tillerson on Trump: āUndisciplined, doesnāt like to readā and tries to do illegal things
Rex Tillerson came a little bit closer Thursday to saying what he actually thinks of President Trump.
The fired secretary of state, who while in office reportedly called Trump a āmoronā (and declined to deny it), expounded on his thoughts on the president in a rare interview with CBS Newsās Bob Schieffer in Houston.
It wasnāt difficult to read between the lines. Tillerson said Trump is āpretty undisciplined, doesnāt like to read,ā and repeatedly attempted to do illegal things. He didnāt call Trump a āmoron,ā but he didnāt exactly suggest Trump was a scholar ā or even just a steady leader.
āWhat was challenging for me coming from the disciplined, highly process-oriented Exxon Mobil corporation,ā Tillerson said, was āto go to work for a man who is pretty undisciplined, doesnāt like to read, doesnāt read briefing reports, doesnāt like to get into the details of a lot of things, but rather just kind of says, āThis is what I believe.ā ā
So who is really ādumb as a rockā?
Couldnāt decide if this was Humour or Portrait of a President material - but as it is a real event I believe it should go here.
A newly discovered blind and burrowing amphibian is to be officially named Dermophis donaldtrumpi, in recognition of the US presidentās climate change denial.The name was chosen by the boss of EnviroBuild, a sustainable building materials company, who paid $25,000 (Ā£19,800) at an auction for the right. The small legless creature was found in Panama and EnviroBuildās Aidan Bell said its ability to bury its head in the ground matched Donald Trumpās approach to global warming.
Trumpās distinctive hair has already led to comparisons to a poisonous furry caterpillar and a golden-plumed pheasant, while a yellow-crowned moth was called Neopalpa donaldtrumpi in 2017.
So nice to think that he gets the recognition he deserves.
As the Stones like to sayā¦āHere comes your nineteenth nervous breakdownā¦ā and this time it is Tās turn. He is having a huge tantrum today, balking at Congress, threatening to shut down the government, over the wall vote.
And heās been castigated (again) by Ann Coulterā¦who called his presidency a ājoke.ā
It is affecting Tās baseā¦heās gone ballistic and dropped her.
Coulter during a podcast interview with The Daily Caller earlier Wednesday called Trumpās presidency āa jokeā that will leave āno legacy whatsoever.ā
āWhy would you [vote for him again]?ā the provocative author and columnist asked. āTo make sure, I donāt know, Ivanka [Trump] and Jared [Kushner] can make money? That seems to be the main point of the presidency at this point.ā
āTheyāre about to have a country where no Republican will ever be elected president again,ā she added. āTrump will just have been a joke presidency who scammed the American people, amused the populists for a while, but heāll have no legacy whatsoever."
Trump now follows just 45 people and entities, including Fox News hosts Tucker Carlson, Sean Hannity and Laura Ingraham; administration members Vice President Pence, counselor Kellyanne Conway and press secretary Sarah Huckabee Sanders; family members including first lady Melania Trump, senior adviser and daughter Ivanka Trump and eldest son Donald Trump Jr.; and entities including the official White House twitter feed and The Trump Organization.
What is he talking about? What āshutdown moneyā?
Unless this means heās trying to instruct Congress not to back pay federal workers for the shutdown; shutdowns lose money rather than gaining itā¦
@vine409 Exactly. At every step the President seems to fundamentally misunderstand how government actually works.
Quantifying the exact cost to the government is difficult, in part because every shutdown is different. Between November 1995 and January 1996, the government shut down twice for a total of 27 days as Democrats and Republicans clashed over Medicare funding, among other issues. A subsequent analysis conducted by the White Houseās Office of Management and Budget estimated that both shutdowns together cost the government $1.4 billionāmore than $2 billion today after adjusting for inflation. āThatās not monopoly money,ā then-President Bill Clinton said in January 1996 as the two parties were on the verge of yet another shutdown. āShutting down the government again would be unbelievably irresponsible.ā
Heās literally throwing money away right now.