Showing posts with label Pro-Profits. Show all posts
Showing posts with label Pro-Profits. Show all posts

June 17, 2017

Trump Released Profit/Loss Statement with Income Way Below $10B He's Claimed

The Trump Tower Baku never opened. Trump partnered with an Azerbaijani family that U.S. officials called notoriously unethical.Photograph by Davide Monteleone for The New Yorker

President Donald Trump had personal liabilities of at least $315.6 million to German, U.S. and other lenders as of mid-2017, according to a federal financial disclosure form released late on Friday by the U.S. Office of Government Ethics.

He had roughly $20 million in income from his new marquee Washington hotel, which opened just down the street from the White House last September. Revenues also increased at Mar-a-Lago, the Florida resort known as the "Winter White House."

Trump reported income of at least $594 million for 2016 and early 2017 and assets worth at least $1.4 billion. (

The 98-page disclosure document posted on the ethics office's website showed liabilities for Trump of at least $130 million to Deutsche Bank Trust Company Americas [DBKGK.UL], a unit of German-based Deutsche Bank AG.

For example, Trump disclosed a liability to Deutsche exceeding $50 million for the Old Post Office, a historic Washington property where he has opened a hotel.

Trump reported liabilities of at least $110 million to Ladder Capital Corp , a commercial real estate lender with offices in New York, Los Angeles and Boca Raton, Florida.

The largest component of Trump's income was $115.9 million listed as golf-resort related revenues from Trump National Doral in Miami, down from $132 million he reported a year ago.

Income from many of his other hotels and resorts largely held steady. Revenue from Trump Corporation, his real-estate management company, nearly tripled, to $18 million, and revenue from Mar-a-Lago grew by 25 percent, to $37.25 million. The private club doubled its initiation fee to $200,000 after Trump's election.

He earned $11 million from the Miss Universe pageant, after selling the beauty contest back in 2015.

Revenue from television shows like "The Apprentice" fell to $1.1 million, down from $6 million a year earlier.

His assets probably exceeded $1.4 billion because the disclosure form provided ranges of values.

The document showed Trump held officer positions in 565 corporations or other entities before becoming U.S. president. His tenure in most of those posts ended on Jan. 19, the day before his inauguration, and in others in 2015 and 2016.

Most of the entities involved were based in the United States, with a handful in Scotland, Ireland, Canada, Brazil, Bermuda and elsewhere. 

Trump has refused to release his tax returns, which would give a much clearer indication of his wealth and business interests. But he has submitted federal forms disclosing his and his family's income, assets and liabilities.

"President Trump welcomed the opportunity to voluntarily file his personal financial disclosure form," the White House said in a statement, adding that the form was "certified by the Office of Government Ethics pursuant to its normal procedures."

An Office of Government Ethics spokesman declined to comment on the contents of the report, other than to say that it was certified by the office, which is an ethics watchdog for federal government employees.

Trump released a disclosure form in May 2016 that his campaign at the time said showed his net worth was $10 billion. Some critics disputed that figure as overblown.


February 7, 2017

Melania Trump Explains Why She Would Want to be First lady$$$$

 published on Salon what we suspected about the first couple and the reason a man and a woman intense in making a profit on everything they do wether is a photo shoot to drying out a casino of cash. Why would they be interested in living in the White House? As nice and historic as the white house is, it does not compare to the luxury on Trump Plaza and history is never been something that appealed to The Donald. The answer is cash but in light to Melania’s lawsuit in which she explains to the court on her own words(and her lawyers) that she lost the opportunity to make more money as first lady once people thought she was an escort before. We can deduct anything we want from a actions but when the subject tells why, then there should be no remaining doubts.


First Lady Melania Trump seems to have unintentionally tipped her hand on how she plans on using her tenure as First Lady — namely, to cash in.

The lawsuit filed in the New York State Supreme Court in Manhattan against Mail Media, owner of the British tabloid the Daily Mail, made references to the “multimillion dollar business relationships” that Melania Trump lost due to an article which incorrectly claimed she had worked for an escort service. The lawsuit’s argument? That as First Lady she would be “one of the most photographed women in the world” and thus possessed a “unique, once in a lifetime opportunity” to “launch a broad-based commercial brand.”
According to Richard W. Painter, who served as White House ethics counsel under President George W. Bush, Trump’s lawsuit revealed a troubling attitude toward her public role.

“There has never been a first lady of the United States who insinuated that she intended to make a lot of money because of the ‘once-in-a-lifetime’ opportunity of being first lady,” Painter told The Washington Post. Although Melania Trump’s legal team is not wrong in pointing out that the Daily Mail’s article was baseless, Mail Media claims that it wasn’t defamatory because it “discussed allegations that had been disseminated about the then-potential first lady, and the impact even false rumors could have on the presidential race.”

President Trump has been beset by allegations of conflicts of interest since before even taking office. These include his refusal to divest himself from his real estate empire, his potential violation of the emoluments clause by accepting money from foreign governments at businesses like the Trump International Hotel in Washington DC, and increasing the initiation fee at his Mar-a-Lago resort after becoming president.

Matthew Rozsa
Matthew Rozsa is a breaking news writer for Salon. He holds an MA in History from Rutgers University-Newark and his work has appeared in Mic, Quartz and MSNBC.

September 10, 2013

Mayor Preaches For Gay Marriage and It Becomes a $Gold Mine$

Minneapolis Mayor R.T. Rybak wants every state to legalize same-sex nuptials, but he's perfectly happy to reap the rewards for his own city in the meantime
 R.T. Rybak

Minneapolis Mayor R.T. Rybak, center, officiates at the wedding of Al Giraud and his partner 
Jeff Isaacson at the Minneapolis City Hall  

Gay-marriage proponents often mention the millions of dollars in economic activity same-sex weddings generate. But Minneapolis Mayor R.T. Rybak is making that message into an aggressive regional campaign for his city.
Rybak is currently on the second leg of a three-state tour throughout Midwest and Mountain states in an attempt to entice same-sex couples to marry in Minneapolis. Minnesota became the second state in the region to legalize same-sex marriage on Aug. 1 and only the 13th in the U.S., and many Minnesota local officials want to make sure out-of-state couples know that their chapels, hotels and wedding planners are open for business.
From April 2009 until this year, Iowa was the only Midwestern state where same-sex couples could get married. For several years it’s been an island in the middle of the country as gay marriage gained ground on the coasts. In the year after the state legalized gay marriage, 866 Iowa couples married there while 1,233 came from out-of-state to do the same, bringing in an additional $13 million to the state’s economy, according to UCLA’s Williams Institute, a think tank focusing on LGBT issues and public policy.
 Scott Stevens, owner of, says up until just a few months ago, he was working with 20 to 30 couples in booking hotels, ordering cakes and reserving event spaces for marriage ceremonies. But since the Supreme Court struck down the Defense of Marriage Act (DOMA) in June, business has doubled, and 75% of his clients are from out of state.
“Even before the ruling, we were getting bombarded,” Stevens says. “But with the fall of DOMA, we’re seeing so many more couples.” He’s now working with about 50 couples at a time.
Stevens says since Minnesota legalized gay marriage, he hasn’t seen a dip in business, largely because he gets a lot of couples from the South, and Iowa still remains the closest state that has legalized same-sex marriage.
Rybak hopes to see a similar boon for his city. On Monday, Rybak will visit Madison, Wis., where he’ll get a warm reception, at least from Mayor Paul Soglin. In fact, Rybak’s conference will be held in his office.
Rybak also plans to visit Milwaukee on Monday and travel to Denver next week. But the first leg of his same-sex-marriage tour brought him to Chicago, and he came armed with stats. Rybak cites numbers showing that Illinois could bring in an additional $100 million if it were to legalize same-sex marriage. “But since that’s not going to wake them up,” he says, “my idea is we’ll take the first $10 million, and once they wisen up, they can have the rest of the $90 million.”
“The states that recognize gay marriage are getting significant benefits in regards to their economy,” says Soglin, a Democrat. “But couples are doing more than just participating in a ceremony in those states. They’re moving there, establishing themselves as residents, establishing businesses. They’re contributing to those communities. I’m deeply concerned that here in Wisconsin we’re going to have a brain drain, a culture drain.”
He’s not just on a mission to bring money back to Minnesota. Rybak says he’s also trying to pressure neighboring states to pass gay-marriage bills.
“My job isn’t to get involved in Illinois politics,” Rybak says. “My job is to try to bring dollars back to my city. But I personally believe passionately that the people who built my city and Chicago and other cities deserve the same rights my wife and I have.”
On Thursday, Rybak appeared on local morning TV shows and public-radio broadcasts in Chicago while also meeting with leaders in the gay community. Along with the other cities on his tour, he’s taken a page from the Rick Perry “I’m coming for your business” playbook. The Republican Texas governor has made it a point to attract businesses located in states like California and Illinois, which have higher tax rates than Texas, to relocate down south. But Rybak’s trip is a more muted approach to bringing dollars to Minnesota, one rooted in his own personal beliefs on same-sex marriage. The Minneapolis mayor personally married 46 same-sex couples on the first day it was legal to do so in his state.
“Unlike Governor Perry or [Wisconsin Governor Scott] Walker, who come to Illinois and assault the business climate,” Rybak says, “I want Chicago and Illinois to take the strategic advantage away from Minneapolis.”
 When the Illinois general assembly reconvenes next month, same-sex marriage will likely be one of several major topics debated. Proponents of gay marriage pushed hard for state legislators to take up the issue last spring before the assembly adjourned for the summer. Governor Pat Quinn, a Democrat, has pledged to sign a same-sex-marriage bill if it reaches his desk, and while the state senate has approved such a bill, the house has not. Rybak’s high-profile visit to Chicago may have given a lift to those hoping to reintroduce it this fall.
“I think this should really be a heads-up to my colleagues in the general assembly of things yet to come,” says Illinois state representative Greg Harris, a Democrat from Chicago.
Harris, who is gay and a strong supporter of same-sex marriage, also makes an economic argument for marriage equality. He says Illinois will struggle to attract the kinds of knowledge-based businesses it’s going after without gay marriage, especially in the tech and finance sectors. Harris argues that not only is gay marriage an important issue for a number of younger employees in those fields, but that without same-sex-marriage recognition, businesses often have to create two separate benefits systems to deal with those who are lawfully married under state law and gay couples who aren’t recognized. A number of companies made similar claims this summer as the Supreme Court took up and ultimately struck down part of the Defense of Marriage Act, extending federal benefits to same-sex couples for the first time.
If Illinois enacts a gay-marriage law, it would likely see similar economic benefits as Minnesota, just on a larger scale. In the first month since Minnesota legalized gay marriage, according to the Associated Press, 1 of 3 marriage licenses issued in the state went to same-sex couples. The Williams Institute estimates that same-sex marriage will bring $42 million in economic activity to Minnesota. In Illinois, it could bring in more than $100 million.
But for now, Rybak is more than happy to invite same-sex couples up north.
“Chicago is my kind of town, but it’s a second city for human rights,” he says. “If this city doesn’t give the rights they deserve, come up to Minneapolis. We’re happy to have you.”

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