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Trump Organization's trying times
The experts at @CrainsNewYork estimate that @realDonaldTrump's company saw revenue drop last year, by an amount between $45M and $90M, b/c it's losing business at hotels/courses in blue states (including NY, home of Trump Tower).
Link to tweet
Home > Politics
November 20, 2018 12:00 AM UPDATED 42 MINUTES AGO
Trump Organization's trying times
Owning so many golf courses, hotels and condos in blue states is becoming a drag on the president's business
Long before he became a political figure, Donald Trump built a business putting his name on hotels, condominiums, golf courses and office towers in New York, New Jersey, Illinois, California and other blue states where today he is unpopular. That now appears to be costing his business.
The Trump Organization's revenue fell last year by somewhere between $45 million and $90 million, a Crain's analysis of the president's financial disclosures found. In 2016 the company's revenue was roughly $700 million. Before becoming president, Trump claimed that his businesses generated $9.5 billion.
The Trump Organization did not respond to requests for comment.
The state of Trump's affairs can be deduced from the president's personal financial statements filed with the federal Office of Government Ethics. Trump lists specific revenue figures for certain ventures, such as golf courses and the Wollman Rink in Central Park. For others, such as the Upper East Side condominium Trump Plaza, he reported revenue between $1 million and $5 million. For his Manhattan office towers, he checked a box saying they pulled in more than $5 million. Crain's calculated revenues for those buildings based on market-rate rents and tallied up Trump Organization revenue using the bottom and top end of ranges provided in the president's financial statement. Figures had to be prorated because the president's most recent financial disclosure covers calendar year 2017, while his previous filing covered the period from Jan. 1, 2016, to April 15, 2017. The president's filings list only revenue, not expenses, so it's unclear how profitable the business was.
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November 20, 2018 12:00 AM UPDATED 42 MINUTES AGO
Trump Organization's trying times
Owning so many golf courses, hotels and condos in blue states is becoming a drag on the president's business
Long before he became a political figure, Donald Trump built a business putting his name on hotels, condominiums, golf courses and office towers in New York, New Jersey, Illinois, California and other blue states where today he is unpopular. That now appears to be costing his business.
The Trump Organization's revenue fell last year by somewhere between $45 million and $90 million, a Crain's analysis of the president's financial disclosures found. In 2016 the company's revenue was roughly $700 million. Before becoming president, Trump claimed that his businesses generated $9.5 billion.
The Trump Organization did not respond to requests for comment.
The state of Trump's affairs can be deduced from the president's personal financial statements filed with the federal Office of Government Ethics. Trump lists specific revenue figures for certain ventures, such as golf courses and the Wollman Rink in Central Park. For others, such as the Upper East Side condominium Trump Plaza, he reported revenue between $1 million and $5 million. For his Manhattan office towers, he checked a box saying they pulled in more than $5 million. Crain's calculated revenues for those buildings based on market-rate rents and tallied up Trump Organization revenue using the bottom and top end of ranges provided in the president's financial statement. Figures had to be prorated because the president's most recent financial disclosure covers calendar year 2017, while his previous filing covered the period from Jan. 1, 2016, to April 15, 2017. The president's filings list only revenue, not expenses, so it's unclear how profitable the business was.
....
