SO MUCH WINNING!!! Trump European golf clubs declare $90 million loss. THOUGHTS & PRAYERS!!!

[Miles Archer]

President Donald Trump is reporting big losses on his European golf courses according to a new report by Forbes magazine.

"Donald Trump continued losing money in 2019 at his two golf properties in Scotland, where he has been struggling for years, according to regulatory documents released this week. Turnberry, the most prestigious property in Trump's golf empire, lost about $3 million on revenue of $26 million. A second business, near the Scottish city of Aberdeen, bled $1.5 million on $4.3 million in sales," Dan Alexander reported Saturday.

"That's bad news for the Trump Organization, which has now declared losses of roughly $90 million at its European golf resorts, according to an analysis of records from Ireland and the United Kingdom. Since the president opened his Aberdeen course in 2012, he has lost $15.5 million. Business has been even worse at Turnberry, which Trump bought in 2014 for $65 million. Despite investing an additional $75 million or so to fix up the property from 2014 to 2018, the place piled up losses of $58 million, according to an analysis of financial reports. The 2019 figures, first reported by the Scotsman, bring Turnberry's total losses to $61 million since 2014," the report noted.

rawstory.com/trump-golf-2649719801/

[JDC]

1. He is in the business of losing money. Always has been.

[Takket]

2. he has bigger problems in Scotland than crappy golf courses not turning a profit......

The Scottish government wants to know where the hell he got the money for those properties when his tax returns said he's broke.......

From November

https://www.motherjones.com/politics/2020/11/scottish-mps-once-more-call-for-investigations-into-trumps-businesses/

From the beginning, Trump’s investments in Scotland have seemed unusual. As the self-proclaimed “King of Debt,” Trump has built almost all of his signature projects with other people’s money. His Scottish resorts appear to be funded with his own funds—but based on personal financial disclosures he has filed as president, it’s not clear how Trump has been able to generate that much cash. The recent series of articles by the New York Times, based on copies of Trump’s tax returns, suggest that Trump has used a variety of tactics—including some legally dubious ones—to bolster his liquidity, but Harvie says there hasn’t been sufficient explanation of how Trump is paying for Aberdeenshire and Turnberry.

In an interview with Mother Jones this summer, Harvie said the lack of financial clarity and Trump’s reputation and associations with convicted money launderers like Paul Manafort, are more than sufficient reasons to demand the Scottish government take a closer look.


“This is not someone who inspires confidence in sound finances and sound business,” he said. “The fact that there are many allegations floating around that the US authorities have investigated, whether it’s in relation to Russia or his political dealings domestically—you don’t have to sniff the air very long to see there’s something that smells.”


On Thursday, Harvie told Sturgeon that the case has only intensified, pointing to the grand jury investigation by Manhattan district attorney Cy Vance Jr.

[ProfessorGAC]

3. Bad, But Not $90 Million Bad

I guarantee that those losses include accelerated depreciation on all hardware.
Kitchen equipment, tables & chairs, greenskeeping machinery, buildings...
Everything but land depreciates, legally. Changing the depreciation rate doesn't come with it a ton of barriers. Some hoops to jump through, but speed bumps, not brick walls.
With the numbers quoted though, it's hard to believe there still is not a pretty significant cash loss.

[Wellstone ruled]

6. Yah,what gives,

He reports 1.5 loss to the Scottish Gov and reports out 90 plus to the USA. You just know he jacked the shit out of his deprecation,and his Value of Good Will just went off the charts.

[ProfessorGAC]

9. LOL!

Reading your post, I thought "Wouldn't highly valuing Good Will on a trump tax return be a red flag to IRS auditors?"
He has any good will?

[Wellstone ruled]

13. It's been almost thirty

years since we sold out of our Rental Business. Do remember our Accountant using the "Good Will" as a Dodge when we closed the books. IRS as well as State did not flag it. But,you know darn well,Diaper Don will use it as a dodge. As our Accountant said,what do you think it's worth. Understand the Tax code has a sliding scale as to what values to use without blowing up your Returns.

[ProfessorGAC]

14. Yeah, But...

...it's damned likely you did build some Good Will.
We know this buffoon never did any such thing!

[JustABozoOnThisBus]

4. It's a tough business this (and last) year.

Around SE Michigan, people are golfing (when weather permits) but not in the numbers of previous years. More money is being lost by having the clubhouse closed for drinks and meals. That's a big cause of loss.

Trump would exaggerate losses for tax purposes. He'll exaggerate profits if he wants to use a course as loan collateral.

[Wellstone ruled]

15. Same for our Community here in Vegas.

We are allowed 25% occupancy at this time. We were closed September thru November and everyone opened at 50% but Covid blew up and my guess is,we may have to shut the City Down once again.

The biggee will be the end of next week if we see a major outbreak from New Year's eve. It got Stupid on the Strip.

[RainCaster]

5. Do you believe his losses are real?

Has he ever been honest about anything? I bet those books are cooked like a cauliflower soup.

[Miles Archer]

8. No, I've read all of the stories about his inflating and deflating assets

I wouldn't trust a shred of financial data coming from him.

[ProfessorGAC]

10. See My Earlier Post

I believe there are real losses. Cash losses.
But, it's not $90 million.
No cooking. GAAP techniques, so legal, but they do to inflate paper losses.
It's only a wild guess, but I'm saying 15-20% of that number are true cash losses.

[Blue Owl]

7. Suck it Donny you fat piece of shit

[Totally Tunsie]

11. Tax time already, eh?

[Initech]

12. Womp womp!