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mac
Joined: 07 Mar 1999
Posts: 17748
Location: Berkeley, California
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 Posted: Sat Jan 02, 2021 3:35 pm Post subject: schadenfreude |
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I anticipate more entries as the investigations of Trump businesses for crimes proceed. But we can start here:
| Quote: | NEW YORK (AP) — Exxon Mobil reported its third consecutive quarter of losses as the global pandemic curtailed travel and crippled global economic activity.
The energy giant on Friday posted a $680 million third-quarter loss and revenue tumbled to $46.2 billion, down from $65.05 billion during the same quarter last year.
The string of losses and what by almost all counts will be a money-losing year is new territory for Exxon Mobil, which has not posted an annual loss since Exxon and Mobil merged in 1999. |
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mac
Joined: 07 Mar 1999
Posts: 17748
Location: Berkeley, California
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| Posted: Thu Jan 07, 2021 3:44 pm Post subject: |
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| Watching the rats flee the White House and the enablers at Fox fight over how culpable Trump is is just delicious. They ignored Trump’s obvious instability for four years. Geraldo sold out for access to the POTUS—and now realizes what a loose cannon he is. |
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mac
Joined: 07 Mar 1999
Posts: 17748
Location: Berkeley, California
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| Posted: Fri Jan 22, 2021 2:04 pm Post subject: |
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I knew there would be more. From this morning's WAPO:
| Quote: | By
David A. Fahrenthold and
Jonathan O'Connell
Jan. 21, 2021 at 4:35 p.m. PST
Add to list
Donald Trump returns to his company this week as it faces a deepening crisis, with key properties bleeding revenue and its bankers, lawyers and customers fleeing the company.
Financial disclosure forms, filed by the former president as he left office, revealed that his hotels, resorts and other properties had lost more than $120 million in revenue last year, as the pandemic forced long-term closures and kept customers home.
Those losses were worst in the places where Trump could least afford it: His Washington hotel, which has a $170 million loan outstanding, saw revenue drop more than 60 percent. His Doral resort in Miami — also carrying a huge debt load — saw a 44 percent drop.
On Thursday, the company’s troubles grew: One of its banks and one of its law firms said they would cut their ties with the Trump Organization. They are the latest in a string of vendors and customers who severed their relationships with the company after Jan. 6, when a mob of Trump supporters attacked the U.S. Capitol directly after he addressed them at a rally.
Ely said the Trump Organization is a relatively small operation, which relies heavily on the work of others — lawyers and real estate brokers, and investors who paid to have Trump’s name on their buildings. Now, some of those outsiders are pulling away. “He’s done enormous reputational damage to himself,” Ely said.
dollars have flowed to his properties
But there were also sharp declines at three of Trump’s most important properties: his D.C. hotel, his Doral resort in Florida, and his Turnberry resort in Scotland. Their combined revenue fell from $149 million in 2019 to $71 million last year, a drop of more than half.
Trump faces more than $400 million in outstanding loans, including more than $290 million on Doral and the D.C. hotel.
In the meantime, on Thursday, Trump’s company continued to lose key partners — including banks and lawyers that had stuck with it through the lowest points of Trump’s political career.
Also Thursday, Trump lost one of his best-known law firms: Morgan Lewis, which has represented Trump on tax issues since before he ran for office. One Morgan Lewis partner, Sheri Dillon, had become a well-known defender of Trump, appearing with him in 2017 at a news conference in Trump Tower, next to a pile of papers and folders that were supposed to represent Trump relinquishing control of his businesses.
“President-elect Trump wants there to be no doubt in the minds of the American public that he is completely isolating himself from his business interests,” Dillon said then.
But on Thursday, the firm said that relationship was ending.
“We have had a limited representation of the Trump Organization and Donald Trump in tax-related matters. For those matters not already concluded, we are transitioning as appropriate to other counsel,” Morgan Lewis spokeswoman Emily Carhart said in an email. She declined to give a reason.
Dillon was also involved in the Trump Organization’s handling of an estate called Seven Springs in suburban New York, where the company obtained a $21 million tax break through a “conservation easement” — essentially, a promise not to develop some of the land in exchange for a tax benefit. Now, Trump’s dealings with Seven Springs are the focus of two state-level investigations, by the Manhattan district attorney and the New York attorney general.
The decision by Morgan Lewis marked at least two law firms that have cut ties with Trump’s company since Jan. 6. The first, Seyfarth Shaw, announced its decision last week.
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boggsman1
Joined: 24 Jun 2002
Posts: 9120
Location: at a computer
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| Posted: Fri Jan 22, 2021 2:38 pm Post subject: |
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| To be fair, comparing 2019 travel and leisure revenue to 2020 numbers is a joke. |
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mrgybe
Joined: 01 Jul 2008
Posts: 5180
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| Posted: Fri Jan 22, 2021 3:05 pm Post subject: |
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| Of course you are right. David Farenthold is a hopeless partisan who works for MSNBC, so don't expect any intelligent analysis from him. I'm interested Boggsy, do you agree with the decision to shut down the XL Pipeline? |
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techno900
Joined: 28 Mar 2001
Posts: 4161
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| Posted: Fri Jan 22, 2021 4:08 pm Post subject: |
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I like the terminology in the article, trying to paint the situation as bleak as possible:
"debt loan"
"huge debt load"
"outstanding loans"
"$170 million loan outstanding"
$400 million in outstanding loans"
They call them mortgages which are secured by the properties themselves. If Trump can't make the payments, then he has an issue. They are not technically called "loans".
I would guess that because of Covid, Trump's real-estate issues are pretty common among many business with mortgages on their properties. |
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mac
Joined: 07 Mar 1999
Posts: 17748
Location: Berkeley, California
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| Posted: Fri Jan 22, 2021 4:46 pm Post subject: |
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| techno900 wrote: | I like the terminology in the article, trying to paint the situation as bleak as possible:
"debt loan"
"huge debt load"
"outstanding loans"
"$170 million loan outstanding"
$400 million in outstanding loans"
They call them mortgages which are secured by the properties themselves. If Trump can't make the payments, then he has an issue. They are not technically called "loans".
I would guess that because of Covid, Trump's real-estate issues are pretty common among many business with mortgages on their properties. |
Exactly correct. COVID has hammered the travel industry and commercial real estate nearly as badly as the poor. The enjoyable irony here is that Trump's incompetence hammered his own empire. The stable genius at work.
I guess that the right is going to ignore the fact that banks, law firms, and politicians are backing away from Trump now that he is no longer POTUS.
There will be more to enjoy as the ground erodes from underneath the "stable genius" that so badly damaged his brand. |
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mac
Joined: 07 Mar 1999
Posts: 17748
Location: Berkeley, California
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| Posted: Fri Jan 22, 2021 4:59 pm Post subject: |
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| mrgybe wrote: | | Of course you are right. David Farenthold is a hopeless partisan who works for MSNBC, so don't expect any intelligent analysis from him. I'm interested Boggsy, do you agree with the decision to shut down the XL Pipeline? |
Of course I remember this idiot's claims that Biden was senescent and that COVID really wasn't that bad. I also remember when there were really conservatives that provided leadership to the GOP, not Qanon nut cases. The National Enquirer nails it.
| Quote: | Witless Ape Rides Helicopter
By KEVIN D. WILLIAMSON
January 20, 2021 3:07 PM
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Then-President Donald Trump departs the White House aboard Marine One ahead of the inauguration of then-president-elect Joe Biden, Washington, D.C., January 20, 2021. (Andrew Kelly/Reuters)
Goodbye to Donald J. Trump, the man who wanted to be Conrad Hilton but turned out to be Paris Hilton.
Well, that sucked.
Memo to MAGA and all its myriad fellow-travelers: Maybe Death of a Salesman as presented by Leni Riefenstahl just wasn’t the show Americans were dying to tune into this season.
And, while we’re at it, maybe turning your party over to Generalissimo Walter Mitty, his hideous scheming spawn, and the studio audience from Hee-Haw was not just absolutely aces as a political strategy.
Think on it, Cletus. I know this whole thing still sounds like your idea of a good time — how’s that working out for you?
Let me refresh your memory: On the day Donald Trump was sworn in as president, Republicans controlled not only the White House but both houses of Congress. They were in a historically strong position elsewhere as well, controlling both legislative chambers in 32 states. They pissed that away like they were midnight drunks karaoke-warbling that old Chumbawumba song: In 2021, they control approximately squat. The House is run by Nancy Pelosi. The Senate is run, as a practical matter, by Kamala Harris. And Joe Biden won the presidency, notwithstanding whatever the nut-cutlet guest-hosting for Dennis Prager this week has to say about it.
Donald Trump is, in fact, the first president since Herbert Hoover to lead his party to losing the presidency, the House, and the Senate all in a single term. Along with being the first president to be impeached twice and the first game-show host elected to the office, that’s Trump’s claim to the history books. Well, that and 400,000 dead Americans and the failed coup d’état business.
As for the ratings Trump fears and worships, ask the Third Lady: Melania Trump departs the scene the most unpopular presidential wife in recorded statistical history.
You Trumpish Republicans sneered that Joe Biden was too corrupt and too senescent to win a presidential campaign, that he was one part mafioso and one part turnip.
That turnip kicked your dumb asses from Delaware to D.C.
So you rioted. Real smart move, Cletus.
Five Americans are dead. Barricades have been erected around the Capitol. Thousands of federal troops have been deployed to the streets of Washington. State capitols have been obliged to prepare for siege. Americans blame you for this — and they are not wrong.
“Trust the plan,” the QAnon cultists say. Is this what you were planning? I know you are stupid, but you are not that stupid.
“Oh, but he fights!” you’ll say — over and over and over. He didn’t fight — he tweeted. He’s ten feet tall on social media and a pushover in real life. Trade deficit: up. Unemployment rate: rising. Abortion rate: rising. Beijing: rising. The coronavirus body-count: rising.
But he sure did tweet a lot!
And he pardoned Roger Stone — at least he took care of that pressing national priority.
“But the judges!” you protest. Fair point: Trump’s absurd attempts to overturn the election through specious legal challenges were laughed out of court by the very men and women he appointed to the bench. Even his judges think he’s a joke.
Everybody has figured that out. Except you.
And so, goodbye, Donald J. Trump, the man who wanted to be Conrad Hilton but turned out to be Paris Hilton. Au revoir, Ivanka and Jared, Uday and Qusay — there’s a table for four reserved for you at Dorsia. So long, Melania — it’s still not entirely clear what you got out of this, but I hope it was worth it. A fond farewell to Ted Cruz’s reputation and Mike Pence’s self-respect, Lindsey Graham’s manhood and Fox News’s business model. In with “Dr.” Jill Biden, out with “Dr.” Sebastian Gorka.
Good night, ladies, good night, sweet ladies, good night, good night.
I’m sure we’ll all meet again. But I’d really rather we didn’t. |
Boy was it fun to read this. |
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boggsman1
Joined: 24 Jun 2002
Posts: 9120
Location: at a computer
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| Posted: Fri Jan 22, 2021 10:09 pm Post subject: |
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| mrgybe wrote: | | Of course you are right. David Farenthold is a hopeless partisan who works for MSNBC, so don't expect any intelligent analysis from him. I'm interested Boggsy, do you agree with the decision to shut down the XL Pipeline? |
Tough one , I’d be lying if I knew all the pluses and minuses .. |
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mrgybe
Joined: 01 Jul 2008
Posts: 5180
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| Posted: Fri Jan 22, 2021 11:45 pm Post subject: |
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| Actually, unlike most in Congress and the WH, you would be informed if you knew all the pluses and minuses. I know most of them and I assure you that the only pluses and minuses Jo's handlers care about are political. This is clearly a net negative for the environment and for our appeal to foreign companies as a place to do business. Not a good start. On the bright side, there are high school boys all over the country looking forward to their first visit to the girls locker rooms and to taking the silverware in girl's athletic events. |
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