MinBane

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Archive for the tag “Businessmen”

Opinion: Trump’s Turnberry is a loser in Aberdeenshire, while Energetica is winning!

In 2008, the business-mogul, the American businessman and Golf Estate builder Donald J. Trump came with giant promises and that a modern golf field in and around Aberdeen would not only be profitable, but also become a major boost of the economy in the North Eastern of Scotland. Now years after and thanks to ‘the Ferret’ and Rob Edwards tireless seeking of information. There are now evidence of the operation the last two years. This after the troubles with neighbors and destruction of the dunes. An environmental disaster done for supposed benefits of business gained by the golfing operation and the hotel on the property. Clearly, this has not happen.

Because on 12th July 2017, the Ferret got the information from the Aberdeenshire Council. This documents that was delivered are revealing of how the lacking promises are delivered to the North Eastern of Scotland. The Trump Organization evidently pumped their swagger-up and sold their tricks of trade without actually having what it takes to build a profitable and establishment worth visiting.

In 2014, the Golf Recreation Scotland Limited or the Turnberry at Minnie in Aberdeenshire lost before taxes £ 3,603,000. That is not a positive results, neither is it in 2015, when the company lost before taxes £ 8,396,000. So the business there isn’t cracking or growing, it is actually going terrible. Within two years lost nearly £ 12 million British Pound. That is not small pocket change and also worrying since the promises made are not in this regard.

Another fact from the document are that in 2014, the whole company had 344 hired, operating staff was 305 and 39 administrative. So as the time goes in 2015, the total staff is 337 working there, operating staff 297 and 40 administrative. Therefore, the company isn’t really big or having a strong impact of jobs, considering this was supposed to be a place that boosted economy. Not only is the golf-course losing money, it is also being short staffed and having few people hired.

The salaries in total has gone from £ 6,796,000 in 2014 and in 2015 it was £ 6,020,000. Therefore, the salaries paid out to the staff isn’t substantial for the changes of environment. The boost of the Aberdeenshire, is not happening now or near future. As the Turnberry at the Minnie.

The profits after the cost of sales in 2014 are £ 3,454,000 and in 2015 it were £ 3,725,000. So the profits have not really gone up. Even if the turnover went from £ 9,209,000 in 2014 and in 2015 it went to £ 11,410,000. Even if the turnover went up with £ 2,000,000, the profits went only up about £ 300,000. So the percentage after cost are minimal. This with the concerning level of staffing. It seems like the Turnberry isn’t made profitable or neither operational in a way that they promised the Scottish government in 2008.

Also, because of the issues with the profits, turnovers and the salaries. The taxation for 2014 were supposed to be £ 774,000, but because of losses they paid none. The similar was in 2015 it was £ 1,697,000, but because of the losses the there were none. So the Aberdeenshire and the North East of Scotland. Has really not earned a dime on it. The salaries haven’t been substantial either.

That this isn’t substantial in any sense that in Aberdeenshire alone, it is over 261,000 people. The total employment is at 132,100. The Turnberry or the Golf Recreation of Scotland and was in 337 people. Therefore, the promises was not kept. While Donald Trump has claimed the Energy building and the wind turbines destroying his business.

With the stark difference to Aberdeenshire Council:

Energetica has attracted £260 million of a potential £750 million investment in its first five years. Construction spend of over £500 million (present value – PV) is expected across the Energetica business parks over the next 20 years. The gross jobs accommodated by new business space on the

parks could be expected to generate around £5.1 billion (PV) gross GVA per annum in 2025. New business space expected to be developed on the Energetica parks could accommodate around 12,400 jobs by 2025” (Aberdeenshire Council – Aberdeenshire Coucil, July 2016).

Therefore, the Energetica actually spends monies in the area, they will hire up to 12,400, which is massive amount of workforce. Also possible adding 12,400. Can doubt a golf-course that is already running badly, will get turnover or even since it losses money. The Energetica will spend fortunes and also generate money in Aberdeenshire. Totally different from what the golf-course will generate. The destruction of the Minnie dunes for the Turnberry clearly hasn’t paid-off.

Golf Digest in 2016 had this statement on the place: “Here is what Turnberry is not: A traditional, lay of the land, or lovably quirky links. The course, which has been through many iterations in between its use as an air base in times of war, has always been fairly straightforward, a fine examination of many shots with beautiful views” (…) “Turnberry makes no apologies for being an Americanized version of an authentic links. Trump added the same 10 foot wide ryegrass walkways that he insisted on through the dunes at Trump International in Aberdeen. While perhaps too clean and carpet-like for most, they do add an elegance to walks as your approach Ebert’s square tee boxes (which fight the landcape a bit)” (Geoff Schackelford – ‘DONALD TRUMP’S TURNBERRY: THE PRESIDENTIAL NOMINEE DELIVERS WITH HIS RENOVATED AYRSHIRE COURSE’ 20.07.2016).

So clearly, his vision has to improve the experience, but business-wise it has been pathetic. With time the Trump Organization might earn monies on it. But right now, the promises are not kept. Neither, seems to be possible, the one that will make difference and boost to Aberdeenshire is the Energetica investments into clean-air and windmills in sea. Peace.

Opinion: Why is there so little sanction on Corrupt behaviour and why don’t the donors stop the funds?

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We should question the ability of certain leaders to be able to squander away government funds, donor-funding while keeping their citizens in poverty and neglect the civil service, the state functions and keeping the state fragile; so that the Executive can brown envelope the Members of Parliament and that other civil servants to get paid, instead of government salaries depend on being paid under table for government delivery.

This is not one nation problem, this is not a one continent problem, and this is a worldwide problem. Not only government acts like this organizations, multi-lateral organizations and businesses. Corporations and other LLCs are also misusing their fortunes and ability to generate wealth for their stakeholders through intricate and complex banking structure that fixes the profits away from the countries we’re they earn high profits; while squandering away the profits so that the owners and stakeholders gain massive funds and leave the consumers, workers and the nations as they keep the funds away from the State of real business.

Tax Avoidance

Why can I address the neglect of government in the same regard as tax-avoidance in modern business, because the same ethics and norms are made and regulated by the Parliaments, Executive Power and by the interests of politicians; that needs funds and create business in their constituency as they earn currency on opening business there. So with that in mind, the way the business is set-up and regulated are by admission from the political framework and laws, not to talk about tax-regulations together with multi-lateral agreements that either opens or closes doors for tax-fugitives from the profitable country.

The Government are the Sovereign Power, the ones that represent and distribute the resources and funds to their citizens through departments, ministries, institutions and programs that are sufficient to make sure of education, security and development of the country. That happens as they can either use their taxes, aid and loans to fund the government work. Well, they could if they wanted to represent the people who paid the tax and elected them.

One key reason for the maladministration and mismanagement from the government are that they are responsible for sham elections and rigging themselves in power; worst case scenario the government and executive took the power with the gun; so the responsibility is more on the ammunition instead of the transparency and accountability towards the citizens. The citizens are supposed to have safe-guards from corrupt behaviour and alleged graft; as the Auditor General and Ombudsman are supposed see through the files and budgets, together with registered procurements, so that the actual facts are the same as the planned efforts from the State.

That is why the breaking figures and knowledge of squandered monies from the funds. Something that shouldn’t be that easy to do or get away with; as so many leaders and executives have saved giant bank-accounts in Swiss Banks and in Tax-Havens. So the humble men from villages all of sudden own 30 luxury cars, 4 mansions and have a wife who spends a ministries months salaries on exclusive clothing and shoes in Paris and London. While the taxpayer are struggling to eat and feed their families, which is an issue that shouldn’t be there when the Executive and wife can have a cortege of 25 cars driving from their State House to their Ranch without any consideration.

Obama Stockholm

The worrying sign is that the International Monetary Fund, World Bank and other Multi-lateral organizations don’t sufficiently sanction this kind of activities or even punish the countries with this behaviour; except when the nations are on their back hunting wild goose. The United Nations and European Union, other Pacts doesn’t even sanction much either. The diplomatic tensions and the wish for resources sometimes stop the knowledge of the thievery, if not to save face of both parties as they doesn’t want the public of the nation importing to know about the maladministration.

What I am wondering with all the corruption scandals, with the rich executives and the haemorrhaging of monies from the state and businesses; It happens daily while the begging for funds from international community and also getting investors from the exterior to invest in business. These businessmen are set in function with civil servant and government officials that are corrupting the state; something that the world knows… and still keeps it going around.

Certainly the knowledge of this isn’t something in the shadow, some places all of this is in the spotlight and expected by the officials, as a second way of getting add-ons on their meagre salaries as the government doesn’t pay enough or on time for the Police Officers and Teachers to secure pay to pay for food and even rent. Therefore the system generate where the Government can’t even supplement funds for their own, while their leaders eat the most delicious stakes. This should be a warning, but the world moves on.

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What worries me… is how this keep on happening with different names, different places and with different funds, while the sanctions and the stopping of funding from the communities doesn’t stop; while the massive overload of stolen monies are hidden and the ability to use this banked currency in developing the state and nation, instead lost in trail of lies and deceit where the accountability got dropped in the ocean.

We should question these transactions and not accept these facts of life, this is the ones that steal the development and progress, steal foreign taxpayer’s monies into personal bank-accounts and private business of elites instead of the public functions as they we’re supposed to go.

I am just writing in frustration… and tired of seeing and hearing about the scandal after scandal… While the ones dishing it out are silent, while the punishment is not happening and the characters who are behind the thieving is walking like kings and queens in main-streets of capitals all around the world. That is what is bugging me. It shouldn’t be like this and the behaviour should be tormented, questioned and also charged for their stolen cash. This cash we’re not automatically made for and created for the Executive’s and their Elites; which isn’t justified. So why does it seem that some people are allowed to steal a country, steal a national treasury and the foreign exchange funds are walking scotch-free while hanging around the mayors and government-officials; but when a pocket-thief or a man stealing a goat, gets detained and not hired again.

The rules for this is provable not equal, not for all men are equal under god, except if you like shrimp. Well, that is not the case in this matter, there are too set of standards, the Executives and their Elites; while the citizens and public are a disgrace and can be disregarded easily, but the rich can get-a-way-jail-free-card! Peace.   

“Greed is Good”, is it really so? There are more Gordon Gekko’s out there then we could imagine.

Gordon Gekko

“The point is, ladies and gentleman, that greed — for lack of a better word — is good. Greed is right. Greed works. Greed clarifies, cuts through, and captures the essence of the evolutionary spirit. Greed, in all of its forms — greed for life, for money, for love, knowledge — has marked the upward surge of mankind” – Gordon Gekko (Wall Street Movie 1987).

There are stories that fun, there are stories that are deep, there conspiracies, as I usually digs deep into things, there is more again of showing that the Corrupt behavior is not only set in Nigeria or in any other place there expected to be Corrupt civil servants or corporate businessmen, they are all around the world, as I like to show that there not a place without people wanting to take the short-cut and gain extra for their job or under their role at some function in society or in business.

This here is international issue, it’s in the skin and heart as the opportunity to gain quick funds and money. That is proven, as the Pharma Industry is implicated, FIFA scandal continues, former Belgian biker, NYPD, Prison Guards in New Zealand and civil servants in the Philippines; take a look!

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Pharma industry corruption:

“It is shocking that despite scandal after scandal involving pharma companies, still policy makers simply are not taking seriously the corrosive effect of corruption,” Sophie Peresson, its head of pharmaceuticals and healthcare, said. “The red flags are being ignored.” (…)”GlaxoSmithKline (GSK.L), for example, paid a record fine of nearly $500 million in 2014 for bribery in China and many companies face investigation under the U.S. Foreign Corrupt Practices Act” (Hirschler, 2016).

SeppBlatter

The ball is still round for FIFA:

“Per AP, Bill Burck of American law firm Quinn Emanuel, which is retained by FIFA, said: “The evidence appears to reveal a coordinated effort by three former top officials of FIFA to enrich themselves through annual salary increases, World Cup bonuses and other incentives totaling more than 79 million Swiss francs—in just the last five years.” In a statement, FIFA said it “will refer the matter of these contracts and payments to the Ethics Committee for its review.” (Simpson, 2016).

Eddy Merckx cycle AD

Tour De France Winner caught red-handed:

“The prosecutor, who spoke Tuesday on condition of anonymity because he was not authorized to make public statements, said Merckx is accused of corruption and the use of false documents in the sale of 46 bicycles by his then-company Cycles Eddy Merckx to police in southern Brussels in 2006-07” (…)”The contract, worth an estimated 15,000 euros ($16,700 U.S.), was allegedly obtained after a policeman furnished Merckx with inside information. Merckx allegedly rewarded the officer by selling him a carbon-fiber bicycle at a low price and giving a bicycle to the man’s wife” (Dahlburg, 2016).

NYPD Corruption Probe

NYPD Corruption Probe:

“An NYPD official said the planned retirements wouldn’t affect the ongoing investigation and denied that the cops were being forced out — even though Police Commissioner Bill Bratton last month said some may choose to leave to avoid humiliation.“No one was told to retire. If they’re being advised by their peers, or union, or families, that’s a personal decision,” the official said.“These guys are making personal decisions. They’re reading the writing on the wall.”But a rank-and-file source said the situation was “not going over well with us lower-ranking guys.” (…) “The feeling from the ground troops is that they all should be fired,” the source said” (…) “If it was us, we would be crucified. Now we’re looking at these chiefs and wondering if there’s a double standard here. Because they’re high ranking, they get to retire, they get to avoid discipline and collect their pension.” (…) ”Roy Richter, president of the Captains Endowment Association, cautioned against a rush to judgment” (…) “No one has filed for service retirement with administrative charges pending or has been identified by federal investigators as a target of their investigation,” he said. The police corruption probe is among several investigations that also target fund-raising efforts by Mayor de Blasio and his closest associates” (Cohen & Golding, 2016).

Serco cartoon

Convicted justice:

“Davis says he was contacted by the family member of a prisoner in Serco-run South Auckland Correctional Facility, Wiri Prison. “The guard will make an arrangement where they meet at a Caltex station not far from the prison,” said Davis.”And the family member will give over $500, and two 250 gram packets of tobacco will be taken in to their loved one.” (…)”Collins confirmed the Department of Corrections had taken the allegations seriously and made a complaint to the police. She was critical of Davis going to media, rather than going to Corrections. She revealed since 2007, four Corrections officers had been imprisoned because of smuggling or bribery charges, and two more were currently before the Courts. The Department of Corrections said the introduction of contraband into prisons, and corruption, was very serious. “Thorough security measures are in place at all New Zealand prisons to prevent the introduction of unauthorised items,” a spokesperson said. “Drugs, weapons and cellphones pose a serious risk to the safety of our sites. Prisoners, visitors, contractors and staff are all subject to random and targeted searches on entry to a prison, and anyone found to have facilitated the entry of unauthorised items will be held to account.” A Serco spokesperson said they have “zero tolerance” for any actions that compromise security. There is robust anti-corruption training and there is on-going supervision of all staff” (Price, 2016).

Duterte-and-Cayetano

On the Next Philippine Government:

“Philippine Senate Majority Leader Alan Peter Cayetano warned corrupt public officials that their days are numbered under the administration of President-elect Rodrigo Duterte” (…) “Under the Duterte administration, there is no room for corrupt, slow and inefficient officials. It’s either they shape up or ship out. They have one month,” (…) “President Duterte is used to quick action and brave solutions. We must therefore match his political will and the people’s expectations for real change by making sure that we become the best agents of change,” (…) “The days of corrupt government officials are numbered. If you cannot mend your ways, you better resign. The Duterte government will give no quarter for the corrupt,” (…) “I have always believed in President-elect Duterte’s vision and leadership. I will help him by pushing and passing laws that are necessary for him to build a government that will be truly responsive to the people’s needs and aspirations,” (Ager, 2016).

Is greed really that good, then all kind of societies and all over the world when the money is spent on the government officials and used by sportsmen and others on corrupt behavior, instead of being used as they we’re supposed to be, either on the sport, on the people or generating business? Peace.

Reference:

Ager, Malia – ‘No room for corrupt govt officials in Duterte administration’ (01.06.2016) link: http://www.asianews.network/content/no-room-corrupt-govt-officials-duterte-administration-18511

Cohen, Shawn & Golding, Brian – ‘Massive corruption probe is sparking an exodus at the NYPD’ (01.06.2016) link: http://nypost.com/2016/06/01/massive-corruption-probe-is-sparking-an-exodus-at-the-nypd/

Dahlburg, John-Thor – ‘Former pro cyclist Eddy Merckx to be charged in Belgian corruption case’ (31.05.2016) link: https://www.thestar.com/news/world/2016/05/31/former-pro-cyclist-eddy-merckx-to-be-charged-in-belgian-corruption-case.html

Hirschler, Ben – ‘Anti-graft group says drugmakers failing to tackle corruption’ (01.06.2016) link: http://www.reuters.com/article/us-pharmaceuticals-corruption-idUSKCN0YN624

Price, Rosanna – ‘Whistleblower investigated over Corrections corruption and bribery’ (02.06.2016) link: http://www.stuff.co.nz/national/politics/80656844/labour-mp-kelvin-davis-alleges-corruption-in-nz-prisons-over-tobacco-smuggling

Simpson, Christopher – ‘FIFA Raided for Evidence in Corruption Investigation: Latest Details, Reaction’ (03.06.2016) link:  http://bleacherreport.com/articles/2644045-fifa-raided-for-evidence-in-corruption-investigation-latest-details-reaction

Donald Trump haven’t only made “Good Deals” he has failed exeptionally well; failures like in Scotland, Atlantic City, Airplane Company and Vodka; with this business-model, I doubt he will able to “make America Great again!”

donald-trump-make-america-great

Donald Trump the Reality TV Star who is famous for saying “You’re fired” and also for hosting a Miss Universe contest. He is not famous for being a politician and therefore I have not taken him seriously as Jon Steward on the Comedy Central bashed him on the day he announced his intention for running as President as he had a speech on the 16th June 2015 as a Republic Party Presidential Candidate.

He usually talks about how he can make good deals and do that in Government, I will show how he has done in the past to prove that he is not all good, and has earned money on government funding, fathers inheritance, and also destroying other people’s possibility to earn while smashing other people livelihood for his own benefit, as he has done in Scotland and Atlantic City.

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I could have bashed him for his empty rhetoric and for not telling how to really make “America Great Again” as he is an empty suit with no moral fiber what-so-ever as he uses Immigration policy and spread fear  to the public to gain momentum and surge of the angry clue-less white rednecks; who couldn’t open a book or read a Foucault explanation on how “Governance” supposed to be. As he believes he can with he deals structure can fix everything. While I doubt it, as the structures and procedures will stifle him, as he is not an island at the White House and in the Senate and House of Representative in Congress; as he has to follow the guidelines of these outfits.

USA_Government_Branches_Infographic

Something he can’t dictate as he does with his Trump Organization where all the Yes Men follow his every move; the same will not happen there as he cannot be the grand dictator and authoritarian leader who owns Capitol Hill, as it seems the “American Great Again” doesn’t have the pulse. But follows on the fear and not on political framework, unless Mr. Trump himself earns on the new taxation reforms, not for the public; as he is a rich man who doesn’t want to be more taxed. He wants to continue to have low tax on the rich and continue to have close to 30% tax on blue-collars and working-class, not the rich, or giant International Companies, as they have loop-holes and systems to get money to tax-heavens instead of paying tax directly in the United States. This is an international problem, but with the growing debt and less income, while having issues to pay to gain growth, there must be a way of getting the wheels rolling. But I don’t see that from Mr. Trump, rather from Bernie Sanders. That is just me. Let’s take a look at some of the bad-deals of Mr. Trump!

Trump 1990 People's Magazine

His value in 1990 out of his People’s Magazine Article:

“Indeed, Wall Street sources say that the purpose of the bailout is not to get Trump up and running, but merely to buy time for the banks to oversee the sale of virtually all of his assets. Donald Trump’s empire, once valued at $3 billion, may be as good as gone, and even his private wealth is at risk. His debt is said to include $500 million in personal loans, and though he claims to be worth more than that, some analysts assay his net worth at less than zero” (Kunen, 1990).

How he really earned his wealth:

“Trump was born in New York City in 1946, the son of real estate tycoon Fred Trump. Fred Trump’s business success not only provided Donald Trump with a posh youth of private schools and economic security but eventually blessed him with an inheritance worth an estimated $40 million to $200 million” (…)”In 1990, due to excessive leveraging, The Trump Organization revealed that it was $5 billion in debt ($8.8 billion by some estimates), with $1 billion personally guaranteed by Trump himself. The survival of the company was made possible only by a bailout pact agreed upon in August of that same year by some 70 banks, allowing Trump to defer on nearly $1 billion in debt, as well as to take out second and third mortgages on almost all of his properties” (…)”In 1995 Trump took Trump Hotels & Casino Resorts Inc. public and received a substantial financial boost from society and the Securities and Exchange Commission (SEC) regulations that enable the market to function. He initially sold 10 million shares at $14 per share and then in 1996 sold 13.25 million shares at $32.50 a share. This initial public offering granted Trump’s company a stability and legitimacy that would have been impossible without millions of people around the world trusting his organization and investing with the hope of shared success” (Lapham & Miller, 2012).

Now on some of his direct bad deals as the Scottish adventure, Atlantic City’s Casino’s, Trump Shuttle and Trump Vodka, take a look!

golfscenery_TRUMPSCOTLAND

Scottish adventure as his bullies the land of inheritance:

Where he wanted to build a Golf Resort:

“The site comprises the Menie Estate an area of 452 hectares (ha) of estate policies, agricultural land, heath and dune. It is located between the A90 trunk road (A90T) and the sea about 14 km north of Aberdeen city centre, and 8 km from the northern limit of the city at the conference centre. The eastern boundary with the foreshore at the high water mark is approximately 4.2 km long, while the site narrows to the west so that the boundary with the trunk road is no more than 1.1 km. At its widest the site is about 2 km from east to west. Balmedie Country Park lies immediately to the south on the coast, while further to the west and south farmland separates the site from the village of Balmedie” (…)”The Menie Estate was most recently used for a combination of commercial shooting and some agriculture but now forms the operating base for the applicant company; Menie House is undergoing restoration as a residence. Since taking ownership Mr Trump has stopped both shooting and hunting on the land” (…)”Mr Trump has been concerned about the environmental effects of the development from the outset, although he acknowledged that he did not know the land was protected when he bought it” (…)”  A world class golf course also requires world class facilities. The clubhouse would be the nucleus of the development. The hotel would be a grand five star building that would complement the landscape in the same way that the hotels at Turnberry and Gleneagles do. The hotel and conference centre would attract golfers and non-golfers. Mr Trump believes that it would in itself be a major boost to the economy of the north east of Scotland”  (Scottish Government, 2008). That was back in 2008 and was in the recommended because of the economic prosperity in the area at the cost of the special sand-dunes that had an environmental unique place in European standard, but for the price of getting a world-class golf-course was the price the Government of Scotland accepted together with the Aberdeenshire Council” (Scottish Government 2008).

Trump Turbines Aberdeen

Some other local punters – A timeline of actions from Trump in Scotland:

“Then, on 3 November 2008, the Scottish Government granted outline planning permission for the resort, subject to 46 conditions, indicating that ‘there was significant economic and social benefit to be gained from this project’ (Scottish Government 2008b). Again, the response to this decision was predictably polarised. Industry and tourism leaders declared that it demonstrated that the North-east, and Scotland more widely, was ‘open for business’ (Whitaker, 2008a); while environmentalists feared that it would set a ‘precedent which will undermine the whole protected-sites network in Scotland’ (Urquhart, 2008)” (…)”In May 2009, it emerged that Trump International, in preparing its detailed resort masterplan, had advised Aberdeenshire Council that it would be lodging further applications for outline planning permission, but for eight parcels of land not currently owned by the organisation. These included four private homes that Trump International was hoping to acquire through ‘amicable’ discussion. It also emerged, however, that Aberdeenshire Council had prepared a briefing note for councillors which raised the prospect of compulsory purchase orders being used to secure the land (Ross 2009), although Trump International insisted that this would only be pursued as an ‘absolute last resort’ (Urquhart 2009)” (…)”Eventually, in January 2011, Trump announced that he would not be seeking compulsory purchase orders for the residential properties; that he would effectively build his course around them. However, Trump also claimed that ‘we have consistently said that we have no interest in compulsory purchase and have never applied for it’ (Urquhart, 2011). This was despite the existence of a letter from early 2009, released under freedom of information, in which his legal representatives had clearly asked Aberdeenshire Council ‘to exercise its powers of compulsory purchase…to acquire the eight plots of land on behalf of TIGLE’. That letter has become widely available online (see, for example, Scottish Green Party, 2011)” (Baxter, 2014). “In 2013, the Scottish government approved plans for the installation of wind turbines off the Aberdeenshire coast – which would generate enough energy to power 68,000 homes. Trump soon claimed that having this windfarm near his golf course “would spoil the view”, and thus entered into a legal battle against the project. But this was a battle he would lose, leading Alex Salmond to call him “three times a loser” and argue that the legal process had potentially jeopardised “a vital £200 million boost for the economy of the North East of Scotland”. In response to Salmond’s comments, a Trump Organisation spokesman said the former first minister had an “overinflated ego” and that the Scottish government was embarking on a “dangerous experiment with wind energy” which was based on a “foolish, small-minded and parochial mentality”. This in spite of the fact that wind energy is now considered to be the cheapest energy technology available in the UK” (Sabio, 2015).

Alex Salmond regrets Opening business for Trump:

“There is nothing wrong with his golf courses, the problem is that Trump Turnberry is unlikely to ever get on The Open circuit. If Turnberry doesn’t get an Open, then that costs the Scottish economy £100m” (…)“I think the association with Trump is now net damaging to the Scottish economy.” (Schmid, 2016).

This here proves that all of his business is not a good deal as he has taken some of the special areas of Scotland, not followed his promise, stifled the locals and had issues the Government over their own development as the sufficient work with the Golf Course and area that Trump Organization had planned for the area, is not working as well as the Locals or Trump hoped for; as the development of the project never got into the stages that Trump promised.

Donald-Trump-Eminent-Domain

Atlantic City Casinos gone bad, his response to newspaper actually writing about him:

“He said the bankruptcy was the result of external forces beyond his control, specifically an extremely bad economy in 1990. He said he had “the prerogative” to change his mind about using junk bonds in the financing” (…) “I didn’t want to have any personal liability, so I used junk bonds. I accept the blame for that, but I would do it again,” he said. But Trump vehemently denied that the deal represented a personal failing or affected his personal wealth” (…) “This was not personal. This was a corporate deal,” he said. “If you write this one, I’m suing you.” (Bandler, 2016).

vera_coking

Here are outtakes of the deals done in Atlantic City:

“The casino opened in April of 1990. Just over a year later, Trump was not going to be able to make his June payments. The Times said Trump was on the hook for $900 million that year, and the Taj Mahal eventually filed for Chapter 11 bankruptcy. Trump lost about half of his interest in the casino, and had to sell his private yacht and plane to help pay his losses. His creditors even put him on a budget (of $5.4 million, so … not that bad of one)” (…)“Trump Plaza was the next to fall out of his control. It was hemorrhaging cash in the early 1990s — Johnston estimates that, in the end, Trump lost about a million courting high-roller Kashiwagi (who was found dead, stabbed 150 times, in Japan in 1992) — and filed for bankruptcy protection in November. The banks took a 49 percent stake in the Plaza in exchange for more favorable terms on the $550 million in debt the building had on it. Trump remained as CEO, but no longer had a role in day-to-day operations” (McQuade, 2015).

How the Locals in Atlantic City feels about Trump:

“Sen. Jim Whelan (D-Atlantic) said Trump’s legacy in the city is a “mixed one.” (…)”The notion that he was somehow responsible for the success that Atlantic City had is not accurate,” said Whelan (D-Atlantic), who was the city’s mayor in the 1990s. “Nor is he responsible for the problems we now have.” (…)”Whelan said Atlantic City already had casino gambling for several years when Trump arrived, adding: “It’s not like he was a pioneer.” (…)”Experts said Trump ran his casinos like other owners did — and stressed that he didn’t simply leave the city on his own terms. Though Trump’s casinos were hurt by the same factors as the others in Atlantic City — a sputtering economy and growing competition from neighboring states — and though other casino companies filed for bankruptcy over the years, his companies’ four bankruptcies are also more than any other in town” (Johnson, 2015).

Trump Shuttle

Another deal gone sour was “Trump Shuttle” or his Airlines:

“NEW YORK — The sky became the limit Thursday for real estate mogul Donald Trump with the maiden flights of his Trump Shuttle service – fashioned from the innovative Eastern shuttle — taking off after a fog delay” (…)”The inaugural voyages of the Trump Shuttle, with four newly painted airplanes bearing the developer’s name, were scheduled for 7 a.m. in New York, Washington and Boston. All were delayed at least 20 minutes by thick fog in New York and Boston” (…)”Trump purchased the shuttle for $365 million from strike-battered Eastern Airlines, which is owned by the Texas Air Corp. The deal was approved May 24 by a federal judge overseeing Eastern’s reorganization under Chapter 11 of the federal bankruptcy code” (…)”Trump hired some 1,000 workers, 800 of them former Eastern employees, for the new service, said Bruce Nobles, the shuttle’s president and chief operating officer” (…)”’People are really tired of being pushed around at Pan Am. Pan Am is not exactly one of the great stalwarts of the industry,’ Trump said. ‘We’ll have the safest, most beautiful planes in the air and we’ll have the best service.‘” (…)”Trump said he expected the fare to remain at $99, the same as Pan Am, but, ‘We’ll match any price on the market’” (Wolfhorst, 1989). Already in 1991: “USAir will retain the Trump Shuttle’s employees and has an “understanding” with its unions over the shuttle’s operations, Goldman said. USAir is holding talks with its unions seeking major concessions to help it ride out the recession and its heavy losses” (…)”The USAir deal must still win final approval from the group of approximately 40 banks involved in Trump’s finances and win regulatory approval from the Transportation and Justice departments” (…)”Trump said yesterday that the deal helps him reduce his debt. “That’s what we’ve been doing for the last year is knocking the hell out of debt,” he said. “USAir is a fine company, and the shuttle is a great asset.” (Hamilton, 1991).  In 1992 this happen to it: “On Mar. 13, he is expected to conclude the final segments of a massive debt restructuring, which will give lenders the Trump Shuttle airline and hand over 49% of the Plaza Hotel in exchange for a lower mortgage-interest rate” (Businessweek Archives, 1992).

Trump_Shuttle_727_safety

In 1993 the result was this: “A USAir Shuttle spokesman says the 87 were fired because the company wanted “an optimized cost-efficient operation.” Their work will now be done by an outside contractor who can do I more cheaply, says Terry Hallcom, manager of the shuttle. (USAir manages the former Trump Shuttle for Citicorp and about 20 other banks that acquired it when Donald Trump defaulted on $380 million in 1991.) “The shuttle management needed to cut jobs to cut costs,” says Citicorp spokeswoman Amy Dates. “We at Citicorp have gone through our own restructuring but have also gotten through it.” (People’s Magazine, 1993). You can say that the Trump Shuttle didn’t work out and the workers lost their jobs on the speculations of Donald Trump. As the Banks to ownership together with 20 Banks who salvaged the ownership of the company. That is a manifestation of how bad this deal was for Trump.

Trump-vodka

Trump Vodka ended with the bottum-up: 

Then we have his fallen throne with the alcoholic beverage Trump Vodka. Here is some on this: “Trump Vodka will be a major player in the vodka arena – it’s a superb product and it’s beautifully packaged,” boasted the teetotaling magnate. Cases of the Dutch-distilled, big-name booze were transported across a red carpet – behind velvet ropes – to a waiting delivery van. A Port Authority police escort accompanied the van to a warehouse in Long Island City, from where Trump Vodka will be distributed. It’s being advertised as “a vodka worthy of the Trump name” and will be sold in a “special gold crafted bottle” designed by graphic artist Milton Glaser, creator of the iconic “I [heart] NY” logo. Patrick Kenny of Drinks Americas Holdings Ltd., said all that matters is that his name is on the bottle. “It’s no secret that Donald Trump doesn’t drink,” he said. “But we’re in the super premium vodka market, and there’s nobody who markets better in the luxury category than Donald Trump” (…) “A one-liter bottle of Trump Vodka will sell for about $30” (Woodberry & Corky JR, 2006). A review of the dink: “The vodka, a five-times-distilled Dutch vodka by renowned distiller Jacques de Lat, is made from select European wheat. After distilling, the vodka is stored in stainless steel tanks for six months, run through a carbon filtration process twice, then a 9-column filtration process, and finally carbon filtered two more times. The vodka is then bottled in a sleek, tapered design from Bruni Glass, with label and packaging by the legendary graphic designer Milton Glaser. The result is what we’ve come to expect from anything branded with the Trump name. For all the attention to detail in the packaging and design, this is a vodka that doesn’t even make a good mixed drink. All of that filtration the vodka goes through has resulted in a spirit more akin to fuel treatment. The burn on the finish is intolerable – more “your mouth’s on fire” than “you’re fired” – with no discernable flavor from the wheat, and an oddly thin consistency for a spirit made from a heavy grain” (Sudo, 2007). In 2009 this happen to the company distributing the beverage: “J. Patrick Kenny, the Company’s CEO, stated, “We believe that this financing is very favorable for the Company especially in this challenging economic environment. The transaction will provide the Company with an immediate and near term cash infusion which will enhance our cash flow and enable us to continue to grow and expand our brands. Prominent in this growth is our imminent beer launch with Kid Rock, our growing Leyrat Cognac business, the continued growth of Trump Vodka and our rapidly growing Olfiant Vodka business, all of which this financing will help facilitate.” (Business Wire, 2009). Something is never seen or heard about since, the reports later said because of lack of interest for the beverage, the production of Trump Vodka went out in 2011. Though there are rumors that is still on sale in Israel as a Israeli Company got the license for in in 2010 from American Holdings Ltd and sell it for 15 years, as it the same year was sued from the Trump Organization, how the court case or beverage is; is not an easy task since there is so little precedence or evidence of actual production, as you can only buy from the early 2000s when the production of it was on Ebay, if you’re a fantastic fan of Trump and get a golden bottle.

Trump Old Newsweek

As I have showed he did not make money from scratch, he is not a self-made Millionaire or Billionaire! He inherent and gained early on the property market after his father’s rise in the business in New York; he did not come with Oliver Twist lifestyle and suddenly by pure genius gain an economic rise. That is somebody else who has done, not him.

Trump Quote

In the 1990s he went totally bankrupt; he was bailed out by big-government and luck of connection in banks as they gave him leverage on the property that could be profitable in the future. A possibility an ordinary person would never achieve or get. The rich also get better service and better treatment then the working-class. He was even at one point valued zero and having accumulated pure debt, while working with most of the banks to restructure his businesses. At this point there we’re none good deals, as he failed in the Air, later in beverage with his Vodka, also Casino’s that was not profitable in Atlantic City and his Scottish adventure that has not become what he promised Alex Salmond or the Aberdeenshire Council as they have lost both green energy source and a future potential tourism site; and a world-class golf course as he didn’t care for the locals, they just had to be happy that he could do as he please and his will was the best, and nothing else did matter. The same way he is discussing matter as a politician.

The Trentonian Trump Front Page

He tells the world he only make “Good Deals” then he must have a reactive memory, or a selective memory, this is not all of them, as this some of the big ones. And a reminder of the matter at hand; if he has plans of making America greater in this way then he will be a Machiavellian Lord who will do as he please without thinking consequence of the ordinary person or the effect of the policy/law. That should be stressed and thought about as the trickledown economics isn’t really a functional and the riches he gained wasn’t by rare luck, though he lived by the posh lifestyle by how he raised. He was raised rich and made himself even richer. There is a saying: “you need money to make money”. That is surely the tale of Mr. Trump. Not a good deal made his wealth, and if it wasn’t for the mercy of the state and the banks in 1990s he wouldn’t have been able to wealthy today. That is why he was positive to the Barrack Obama’s Stimulus Package to save the economy as it was similar to how his own businesses were saved. He could not hate something that saved his own skin. Even if he fear immigrants as his heritage is from Scottish roots and family coming from Europe back in the day. The irony is there and he is surely a strange clone in the elections in the United States. I have now on my page this described and showed something sinister of two candidates there, the first was Jeb Bush and now Donald Trump. I took the economic approach and not his human vision as it is ghastly and not worth spending my mind on or finding his terrible quotes as it is fear-mongering and not worth ink. This is enough for today. Peace.

Reference:

Bandler, Aaron – ‘One Newspaper Wanted To Report About Donald Trump’s Atlantic City Finances. So He Threatened Them’ (22.01.2016) link: http://www.dailywire.com/news/2827/one-newspaper-wanted-report-about-donald-trumps-aaron-bandler

Baxter, Graeme – ‘Open for business? An historical, comparative study of public access to information about two controversial coastal developments in North-east Scotland’ (01.03.2014) link: http://www.informationr.net/ir/19-1/paper603.html#.VrtmAFjhDI

Businessweek Archives – ‘The Donald’s Trump Card’ (22.03.1992) link: http://www.bloomberg.com/bw/stories/1992-03-22/the-donalds-trump-card

Businesswire – ‘Drinks Americas Closes Private Placement for Cash Infusion of Up to $3 Million’ (25.01.2009) link: http://www.businesswire.com/news/home/20090625005282/en/Drinks-Americas-Closes-Private-Placement-Cash-Infusion

Johnson, Brent – ‘Trump’s controversial time in A.C. under new scrutiny with presidential run’ (25.10.2015) link: http://www.nj.com/politics/index.ssf/2015/10/trumps_controversial_time_in_ac_under_new_scrutiny_with_presidential_run.html

Kunen, James S. – ‘Pop! Goes the Donald’ (09.07.1990) link: http://www.people.com/people/archive/article/0,,20118158,00.html

Hamilton, Martha M. – ‘USAIR REACHES ACCORD TO RUN TRUMP SHUTTLE’ (20.12.1991) link: https://www.washingtonpost.com/archive/business/1991/12/20/usair-reaches-accord-to-run-trump-shuttle/a5870bec-d890-422f-9e4a-02360de12599/

Lapham, Mike & Miller, Brian – ‘ECONOMY Exposing How Donald Trump Really Made His Fortune: Inheritance from Dad and the Government’s Protection Mostly Did the Trick’ (09.07.2012) link: http://www.alternet.org/story/156234/exposing_how_donald_trump_really_made_his_fortune%3A_inheritance_from_dad_and_the_government’s_protection_mostly_did_the_trick

Lee, Michelle Ye Hee – ‘Donald Trump’s false comments connecting Mexican immigrants and crime’ (08.07.2015) link: https://www.washingtonpost.com/news/fact-checker/wp/2015/07/08/donald-trumps-false-comments-connecting-mexican-immigrants-and-crime/

McQuade, Dan – ‘The Truth About the Rise and Fall of Donald Trump’s Atlantic City Empire (16.08.2015) Link: http://www.phillymag.com/news/2015/08/16/donald-trump-atlantic-city-empire/#M16Ri9meooifJh9z.99

People’s Magazine – ‘Out in the Cold’ (20.12.1993) link: http://www.people.com/people/archive/article/0,,20107064,00.html

Sabio, Osio – ‘This is why Donald Trump is not welcome in Scotland’ (18.12.2015) link: http://www.thecanary.co/2015/12/18/donald-trump-not-welcome-scotland/

Schmid, Stefan  – ‘Alex Salmond insists Scotland does not need Donald Trump’s investment’ (18.01.2016) link: http://www.thenational.scot/news/alex-salmond-insists-scotland-does-not-need-donald-trumps-investment.12500

Scottish Government – Directorate for Planning and Environmental Appeals: ‘Case reference: CIN/ABS/001

  • Site Address: land at Menie House, Balmedie, Aberdeenshire
  • Application APP/2006/4605 for outline planning permission dated 27 November 2006

called-in from Aberdeenshire Council by notice dated 4 December 2007.

  • The development proposed: Golf course and resort development
  • Date of inquiry: 10 June – 4 July 2008 ‘ (10.10.2008)

Sudo, Chuck – ‘A Classy New Vodka From A Man Lacking Class’ (22.01.2007) link: http://chicagoist.com/2007/01/22/a_classy_new_vodka_from_a_man_lacking_class_.php

Woodberry, Warren & Corky JR, Siemaszko – ‘I’M DONALD TRUMP, DRINK MY VODKA’ (07.10.2006) link: http://www.nydailynews.com/archives/news/donald-trump-drink-vodka-article-1.643186

Wulfhorst, Ellen – ‘First flights take off on Trump’s renamed Northeast shuttle’ (08.06.1989) link: http://www.upi.com/Archives/1989/06/08/First-flights-take-off-on-Trumps-renamed-Northeast-shuttle/6472613281600/

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