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Judi Lynn

(160,415 posts)
Thu Jul 6, 2017, 11:01 PM Jul 2017

Initiation fees at Trumps clubs score him millions in profits

Source: McClatchy


McClatchy Washington Bureau MCCLATCHY WASHINGTON BUREAU
06 JUL 2017 AT 22:46 ET





July 6, 2017
Anita Kumar
McClatchy Washington Bureau
Posted with permission from Tribune Content Agency


PALM BEACH, Fla. — Even as he serves as president, Donald Trump earns a tidy sum of money — tens to hundreds of thousands of dollars — every time a new member joins one of his tony clubs.

He's benefited greatly from these so-called initiation fees for years — and even back when the fees took the form of refundable deposits he broke with the norm for such clubs to take the money for himself, according to documents and interviews.

In 2004, Trump had access to nearly $100 million from refundable fees from members at just four clubs, including Mar-a-Lago, a resort in Palm Beach that Trump has dubbed the Winter White House, according to a personal financial statement written by his accountant that year and obtained by McClatchy.

This story, based on nearly 20 interviews and hundreds of pages of documents, some from lawsuits involving Trump and his businesses, shows that Trump is still earning money from one-time club fees; he put in place unusual policies that allowed him to keep the high one-time fees charged to new members, which originally were intended to be refundable; and put language in his contracts that allowed him to spend the money on anything he wanted.

Read more: http://www.rawstory.com/2017/07/initiation-fees-at-trumps-clubs-score-him-millions-in-profits/

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Initiation fees at Trumps clubs score him millions in profits (Original Post) Judi Lynn Jul 2017 OP
What a grifter! nt tblue37 Jul 2017 #1
The US Women's Open is being held at the 'Summer White House' next week. yallerdawg Jul 2017 #2
What does and what doesn't the Emoluments Clause cover and how come it isn't enforced? BigmanPigman Jul 2017 #3
He looks like a caddy who just got a $200 tip! RainCaster Jul 2017 #4
then there is this orleans Jul 2017 #5
What the hell has he been doing....... SergeStorms Jul 2017 #6
Here in Southwest Golf is a tremendous waste of water burrowowl Jul 2017 #7
Grifters gonna grift DeminPennswoods Jul 2017 #8

yallerdawg

(16,104 posts)
2. The US Women's Open is being held at the 'Summer White House' next week.
Thu Jul 6, 2017, 11:17 PM
Jul 2017

It would be so great for this to turn into some kind of financial fiasco for the Trump Organization or whichever of his over 500 entities runs this.

We have to make 'being president' a financial disaster to rid ourselves of this blight!

BigmanPigman

(51,554 posts)
3. What does and what doesn't the Emoluments Clause cover and how come it isn't enforced?
Thu Jul 6, 2017, 11:44 PM
Jul 2017

Ethics chair Shaun couldn't do it so what is the point of having such a clause in the first place? Where is the DOJ?

SergeStorms

(19,121 posts)
6. What the hell has he been doing.......
Fri Jul 7, 2017, 02:44 AM
Jul 2017

with that skanky golf glove he's wearing? You just don't use a golf glove when it's that worn and dirty. Maybe he has a gripping problem with his tiny little hands, and is putting pine tar on his grips? I'd be ashamed to wear such a hackneyed piece of garbage to the driving range, let alone a "world class" course like The Donald's. He always dresses like a hobo on the course anyway. I've seen a quite a few pictures of him playing the game, and he's always dressed in dirty whites. Fat people shouldn't wear white anyway. I don't (I've got an extra 25 lbs. on my 5' 10" frame I could get rid of) and I would never white, even if it was clean and bright. Once again, Trump's taste is in his ass. A fat, sweaty man in dirty whites IS NOT an attractive look. I'm sure his KKK robe is spotless! And with his stupid "thumb up" signal we can see what a slob he is with his equipment as well.

Bottom line, once again we're given a look into the white trash world of Donald Trump. All the money in the world can't buy you class and sophistication. And this slob derides OTHER PEOPLE about THEIR appearance?

burrowowl

(17,631 posts)
7. Here in Southwest Golf is a tremendous waste of water
Fri Jul 7, 2017, 03:59 AM
Jul 2017

and overuse of pesticides. May trump snd golf sink!

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