Author Topic: Refilling The Trump Swamp!  (Read 2159 times)

Parsad

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Refilling The Trump Swamp!
« on: October 18, 2019, 01:19:42 AM »
Doral selected as site for 2020 G7...keep lining your pockets Trumpy!  What conflict of interest? 

Hunter Biden has nothing on Stumpy, Lumpy, Ivanka and the Kush!  Cheers!

https://www.bbc.com/news/world-us-canada-50087836
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cobafdek

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Re: Refilling The Trump Swamp!
« Reply #1 on: October 18, 2019, 07:08:13 AM »
There's a deep ethical chasm between getting rich before political office, and getting rich because of political office.

https://twitter.com/charliekirk11/status/1184258854269280256

Gregmal

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Re: Refilling The Trump Swamp!
« Reply #2 on: October 18, 2019, 07:19:06 AM »
Yea its really just more hypocritical whining. First, I think in a vacuum its probably wise for Trump to avoid doing this...but otherwise. what they ALWAYS LEAVE OUT, is the real detail.

Its being done at cost. In other words, Trump makes no money. It saves us money in fact. At best, its free advertising for a Trump property. Which basically stacks up similarly to the free advertising every politician gets from being in office that then allows them to go make millions writing books and all that crap.

I also cant blame him for doing this knowing how badly it trolls all his critics. They certainly deserve it.

stahleyp

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Re: Refilling The Trump Swamp!
« Reply #3 on: October 18, 2019, 07:21:56 AM »
There's a deep ethical chasm between getting rich before political office, and getting rich because of political office.

https://twitter.com/charliekirk11/status/1184258854269280256

Carter is about the only one that hasn't done that lately, I think.
Paul

Read the Footnotes

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Re: Refilling The Trump Swamp!
« Reply #4 on: October 18, 2019, 07:32:41 AM »
Yea its really just more hypocritical whining. First, I think in a vacuum its probably wise for Trump to avoid doing this...but otherwise. what they ALWAYS LEAVE OUT, is the real detail.

Its being done at cost. In other words, Trump makes no money. It saves us money in fact. At best, its free advertising for a Trump property. Which basically stacks up similarly to the free advertising every politician gets from being in office that then allows them to go make millions writing books and all that crap.

I also cant blame him for doing this knowing how badly it trolls all his critics. They certainly deserve it.
Trump Doral is in decline. There have been lots of articles written about that.

Quote
In 2017, the resort property missed the company's revenue targets by $10 million, taking in $75 million in revenue, while the facility's net operating income had dropped by 69 percent in just two years.

https://thehill.com/blogs/blog-briefing-room/news/443768-trumps-doral-resort-revenue-has-dropped-since-presidential

If you know anything about different business models, or distressed businesses, you know that if things are bad enough even selling rooms at cost can be a big boost to profitability. For a business model example, look at Davita, they do quite well while the vast majority of services are provided at a loss to the government. All that volume being sold to the government is the secret to the profitability of the rest of their business. Volume builds economies of scale. Economies of scale make the private insurance business that much more profitable to DaVita, in addition to other competitive benefits.

You have to ask, if Doral were doing well, how would they even have the capacity to shut down for the government for a period of time? Plus selling out to the government will create scarcity for the other weekends and allow price hikes.

Finally, an event at Doral might provide marketing that would create value over decades. That marketing might not result in cash changing hands, but it does have value and that exchange of value is supposedly prohibited under US law.

« Last Edit: October 18, 2019, 07:38:13 AM by Read the Footnotes »

Read the Footnotes

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Re: Refilling The Trump Swamp!
« Reply #5 on: October 18, 2019, 08:10:18 AM »
We should also note that "at cost" is an issue because The Trump Organization has decades of history of inflating costs to defraud the government (see the NY Times expose on that subject among others). They also have a practice of using shell companies to hide those shenanigans. I doubt there will be sufficient oversight on these issues, especially if they won't even disclose what the selection process was.

To return to my point from a previous post. I used DaVita as an example. DaVita has high fixed costs, and you can think of 80%+ of their business being selling beds to the government.

What Trump Doral has in common with DaVita is high fixed costs. The higher your fixed costs, the more it makes sense to sell capacity at break even or even to sell capacity at a loss because at least it is helping to cover your fixed costs.

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There is one unique financial characteristic that is synonymous with the hospitality industry; that is high fixed costs.  Or another way of stating the same financial attribute is to simply state that the hospitality industry has low variable costs. There are several different cost drivers that force this industry to incur high fixed costs.  These include location, initial cost of construction, costs of capital and an economy of scale.  Each of these business attributes contribute to the high fixed costs of operations.

https://businessecon.org/2015/07/07/hospitality-industry-characterized-by-high-fixed-costs/

So if the "one unique financial characteristic" of the hospitality industry is high fixed costs, do you really think that hosting an event "at cost" at Doral really has no value for Trump?

Gregmal

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Re: Refilling The Trump Swamp!
« Reply #6 on: October 18, 2019, 08:21:50 AM »
So even some arcanely structured argument about a "subsidy" type benefit(dems love those dont they?), still, Im sure, if you care(I dont) enough to then go and quantify it, comes to what? Something that is inarguably a negligible bottom line number....plus, lets not ignore "comps" here. His peers, use similar tactics, and then just have their kids monetize it while in office, or realize this value themselves once they leave....

And you still fail to indicate how paying more, somewhere else, is of greater benefit to the taxpayer...

But thats missing the point. I dont think he's benefiting really at all, but I also dont care if he is, because if he is, its not a material amount and in any event, its peanuts in there big picture, especially against much more pressing issues. Its just more nitpicking from the anti Trumpers...

Read the Footnotes

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Re: Refilling The Trump Swamp!
« Reply #7 on: October 18, 2019, 08:44:56 AM »
Quote
the real detail.

Its being done at cost. In other words, Trump makes no money.

Are you dropping your previous primary argument 'the real detail" and switching to rationalizations?

It seems to me that Trump is trying to prove that everyone is crooked and can't be trusted by using himself as an example. He is setting up a false dichotomy of it's either me, or the other guys who are worse. All the evidence points to him actually being much more corrupt. It's incredibly cynical to allow that when there might be other better options.

Just as "spend less at Doral or spend more somewhere else" may be a false dichotomy. Who said they have to spend more elsewhere? Do you have evidence?

I understand the frustration with other politicians, but choosing to overlook the sins of a politician who is likely setting all time records for political corruption is just inexplicable. Don't forget Trump's first big successes were mired in political/tax corruption. So this corruption goes back four decades. Here's an example just mentioned today in Politico. (https://www.politico.com/magazine/story/2019/10/18/trump-giuliani-ukraine-lawyer-new-york-history-friendship-229857)

Plus the timing of this is likely a distraction technique. Trump would rather us argue about the legality of what he might do than the illegality of what he has already admitted to.

The real question is what would be a bridge to far for you Trump supporters? Is there anything he could do that would shake your confidence? If he announced he was suspending the constitution tomorrow and appointing himself King to protect us from AOC, would you accept that as reasonable and acceptable? Or would that seem to be selling a false dichotomy to and destroying our system of government?

Parsad

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Re: Refilling The Trump Swamp!
« Reply #8 on: October 18, 2019, 08:49:32 AM »
So even some arcanely structured argument about a "subsidy" type benefit(dems love those dont they?), still, Im sure, if you care(I dont) enough to then go and quantify it, comes to what? Something that is inarguably a negligible bottom line number....plus, lets not ignore "comps" here. His peers, use similar tactics, and then just have their kids monetize it while in office, or realize this value themselves once they leave....

And you still fail to indicate how paying more, somewhere else, is of greater benefit to the taxpayer...

But thats missing the point. I dont think he's benefiting really at all, but I also dont care if he is, because if he is, its not a material amount and in any event, its peanuts in there big picture, especially against much more pressing issues. Its just more nitpicking from the anti Trumpers...

This is an administration that has lied about every number it has shown or given out...starting with the biggest inaugural attendance of all time!  When they say they are saving taxpayer's money, that may be only on the rooms which they said would be rented out at $50 per night.  They will pad the food, alcohol costs and the sheer amount of notoriety, interest and benefits from networking are priceless. 

What a way to showcase your struggling property than to hold one of the most prominent conferences in the world there?  You think the price goes up or down if someone wants to buy after the conference?  Do you think business improves or decreases?  And at the very least, do you think this is at all appropriate when his children not only work within the White House, but also continue to control all facets of the business...and we know he's telling them exactly what to do? 

It's incredibly sad when the President of the United States and his family are grifting the U.S. taxpayers while sitting in office with his Cheshire grin!  Cheers!
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RuleNumberOne

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Re: Refilling The Trump Swamp!
« Reply #9 on: October 18, 2019, 08:56:21 AM »
Trump was born rich. He had an income of $200k per year in 1949 when he was 3 years old (which in today's dollar is more than a million dollars per year).

If he shows off his properties to some junior world leaders, his voters don't care.

That is why Trump has loyal voters - they can see the difference between him and Evasive Elizabeth aka Lying Liz.