The times article mentions it on a few of his properties. The article on Forbes seems to indicate the same. And he has properties on some of the most valuable real estate, don’t need a genius to see that.
From the NYT report:
Now his tax records make clear that he is facing a battery of threats to his business and his own financial well-being.
Over the past decade, he appears to have filled the cash-flow gaps with a series of one-shots that may not be available again.
In 2012, he took out a $100 million mortgage on the commercial space in Trump Tower. He took nearly the entire amount as a payout, his tax records show. His company has paid more than $15 million in interest on the loan, but nothing on the principal. The full $100 million comes due in 2022.
In 2013, he withdrew $95.8 million from his Vornado partnership account.
And in January 2014, he sold $98 million in stocks and bonds, his biggest single month of sales in at least the last two decades. He sold $54 million more in stocks and bonds in 2015, and $68.2 million in 2016. His financial disclosure released in July showed that he had as little as $873,000 in securities left to sell.
Mr. Trump’s businesses reported cash on hand of $34.7 million in 2018, down 40 percent from five years earlier.
What’s more, the tax records show that Mr. Trump has once again done what he says he regrets, looking back on his early 1990s meltdown: personally guaranteed hundreds of millions of dollars in loans, a decision that led his lenders to threaten to force him into personal bankruptcy.
This time around, he is personally responsible for loans and other debts totaling $421 million, with most of it coming due within four years. Should he win re-election, his lenders could be placed in the unprecedented position of weighing whether to foreclose on a sitting president.
There is, however, a tax benefit for Mr. Trump. While business owners can use losses to avoid taxes, they can do so only up to the amount invested in the business. But by taking personal responsibility for that $421 million in debt, Mr. Trump would be able to declare that amount in losses in future years.
The balances on those loans had not been paid down by the end of 2018. And the businesses carrying the bulk of the debt — the Doral golf resort ($125 million) and the Washington hotel ($160 million) — are struggling, which could make it difficult to find a lender willing to refinance it.
The unresolved audit of his $72.9 million tax refund hangs over his head.
Trump Tower is successful, yes.
So was The Apprentice, it seems he made in the ballpark of $400m over several years from the show.
He sunk The Apprentice earnings into golf courses, which are all now losing lots of money.
Trump’s problem is not that he has no successful businesses. He has a few: namely, Trump Tower, and the 30% stake in two Vornado buildings (which he got accidentally, lmao, one of his best business decisions was an accident).
His problem is that he has lots of over-leveraged money-losing businesses, and not enough successes to keep them afloat. At least, that’s how it looks from 20 years of tax returns. We don’t know for sure.
Where?
Where? Trump Tower and 30% of a trust that owns two more buildings? That’s one building + 30% of two more. And he’s got mortgages out against them all.
I told you where.
Listen, leveraging businesses with debt is never a good idea. But if his creditors lent him the money, well, it’s on them. They must have seen something in the deal worthwhile.
Losing actual money or non cash losses?
So?
Can we not pretend to understand how Trump has leveraged his assets?
Not really an Omar fan, but this is pretty funny…
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Presidential candidate Joe Biden has been given tonight’s debate questions in advance, according to radio host Todd Starnes.
Sounds like the same script that fellow war maniac Clinton was privileged with.
Still won’t help with dementia people even at early stages.
Their memory is better for long-term things, not short-term.
Now, if he’s wearing an ear-plug like some NFL QB, then that could certainly help out Ole Joe.
I seem to remember the claim Clinton had an ear piece.
According to Fox News, the Biden campaign requested a break after every 30 minutes of tonight’s upcoming debate, but Team Trump rejected the proposal.
Joe Biden’s campaign has refused President Trump’s invitation for both candidates to take a drug test, prompting Trump to comment “Gee, I wonder why?”
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Biden refused a drug test? Really?
If that’s true, I expect the media to jump all over it. I won’t hold my breath.
I love a drink, but my liver has never wronged me enough to engage in this game.
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partakers probably wouldn’t last 30mins, and then miss even funnier/weird sheet later
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I read the NYT’s pages on Trump and Biden this morning. Each ends with a quote from the candidate.
Biden’s quote: “If we give Donald Trump eight years in the White House, he will forever and fundamentally alter the character of this nation, who we are, and I cannot stand by and watch that happen.”
Trump’s quote: " I could stand in the middle of Fifth Avenue and shoot somebody and wouldn’t lose any voters, OK?"
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