Looking back at our ex aka Donald Trump, he looks worse for wear. His former UN Ambassador Nikki Haley broke up with him — on Valentine’s week. We found he nearly died from the coronavirus. The House is doing a spectacular job trying to impeach him. Trump does not believe he lost his election, and now this.
When Trump left office, a ton of debt followed him out of the door. Unfortunately for him, the ex secured many of his biggest loans on his word and with a property. Now, he is in jeopardy of losing buildings, NBC News reported.
Professor at the Georgetown University Law Center and bankruptcy and commercial law expert Adam Levitin said:
‘If he doesn’t keep the facilities in good maintenance and up to date, the ability to attract future business becomes impaired. He needs money to keep running the facilities.’
Then, Levitin said that Trump has a real problem, because these do not churn out enough money to handle his debts and current standard of living:
‘[T]hat can set off a downward spiral.’
Senior Editor at The Forbes magazine and author of the book White House, Inc.: How Donald Trump Turned the Presidency into a Business, Dan Alexander said:
‘When you polarize your business by becoming a political figure, then you lose a lot of potential customers. He’s still, at his core, a commercial real estate mogul.’
‘[That is] When his big customers. which are tenants that pay millions upon millions upon millions of dollars a year, when those leases start expiring, that’s when we’re going to find out what the real effects of all this were.’
The real cash cow for the Trump Organization is in its real estate partnerships, according to The New York Times (NYT). That is where he is feeling the pressure. His business, which is primarily entertainment-related, has suffered greatly during the coronavirus pandemic. People are just not traveling.
Ex-president Trump’s two “first-class commercial buildings have been bringing in the most money among his holdings. One is on Sixth Ave in New York City. The second is in downtown San Francisco. He owns 30 percent of the buildings in partnership with Vornado Realty Trust owning 70 percent, over twice Trump’s ownership.
Vornado’s founder and Chairman, Steven Roth is looking at a “withhold [of] the partnership’s cash flow from Trump.” If so, Trump would have to sell at a deeply discounted price or even at basement prices, according to The Wall Street Journal.
Trump’s middle son Eric Trump was interviewed regarding the real estate mogul:
‘We’re incredibly proud of these two buildings. They are two of the best commercial assets anywhere in the world.’
The Mueller Report Adventures: In Bite-Sizes on this Facebook page. These quick, two-minute reads interpret the report in normal English for busy people. Mueller Bite-Sizes uncovers what is essentially a compelling spy mystery. Interestingly enough, Mueller Bite-Sizes can be read in any order.