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Tue Oct 8, 2019, 03:02 PM

Losses deepen at Trump's Scotland properties, new financial reports show

Source: Washington Post

Politics
Losses deepen at Trump’s Scotland properties, new financial reports show

By Joshua Partlow
Oct. 8, 2019 at 1:21 p.m. EDT

The Trump Organization’s two Scottish golf courses lost $14.3 million in 2018, extending a multiyear string of losses that have intensified since Donald Trump took office, according to annual financial reports released this month.

The results add further pressure to two of President Trump’s key overseas investments at a time when the company faces backlashes on many fronts, including customers who shun the president’s family business for political reasons and golf course neighbors upset by the company’s plans to build hundreds of new homes on bucolic farmland.

The losses at the two Scotland courses — the Turnberry resort along the southwestern coast and another seaside course near Aberdeen in the northeast — were detailed in documents filed by the Trump Organization with the British government and posted online in recent days.
....

In its filing, the Trump Organization touted Turnberry’s “tremendous success” in the company’s fifth full year operating the resort. The company said revenue in 2018, $22.5 million, was higher than any year in the course’s history. But the company also lost $13 million for the year, more than tripling its 2017 loss of $4.1 million. Turnberry has not turned a profit since Trump has owned it.

{snip}

Joshua Partlow is a reporter on the The Washington Post’s national desk. He has served previously as the bureau chief in Mexico City, Kabul, Rio de Janeiro, and as a correspondent in Baghdad. Follow https://twitter.com/partlowj

Read more: https://www.washingtonpost.com/politics/losses-deepen-at-trumps-scotland-properties-new-financial-reports-show/2019/10/08/08ddf890-e9d4-11e9-bafb-da248f8d5734_story.html



Losses deepen at Trump’s Scotland properties, new financial reports show


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Response to mahatmakanejeeves (Original post)

Tue Oct 8, 2019, 03:15 PM

1. He's trying to prop them up by fleecing our military

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Response to mahatmakanejeeves (Original post)

Tue Oct 8, 2019, 03:20 PM

2. I have to wonder if these properties are *really* losing that much money...

or if there is a lot of the typical tRump Organization 'creative accounting' going on to wildly inflate losses in a tax-evasion scam.

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Response to SeattleVet (Reply #2)

Tue Oct 8, 2019, 03:28 PM

3. Money laundering. Same reason his casinos went bankrupt. . . . . nt

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Response to SeattleVet (Reply #2)

Tue Oct 8, 2019, 04:28 PM

7. Also called skimming. I hope the accounting firms are not crooked

like some in the US are....

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Response to mahatmakanejeeves (Original post)

Tue Oct 8, 2019, 03:51 PM

4. Repugs think he's a "brilliant" businessman.

He's a TERRIBLE businessman. Really terrible. He overpays for everything. Even when he stiffs his contractors, he still can't make any money. Even fleecing the American taxpayer, he still can't make any money. I doubt he has a nickel more than his slumlord father left him.

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Response to louis-t (Reply #4)

Tue Oct 8, 2019, 04:39 PM

10. His net worth has GOT to be in the red. Deeply.

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Response to dchill (Reply #10)

Tue Oct 8, 2019, 04:59 PM

11. And he owes money to some pretty shady characters

most likely. Lots and lots of money.

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Response to mahatmakanejeeves (Original post)

Tue Oct 8, 2019, 03:58 PM

5. Maybe the Saudis or Russians can book a lot of rooms there

and not stay there.

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Response to IronLionZion (Reply #5)

Tue Oct 8, 2019, 07:26 PM

12. That is supposedly going on at trump's Washington hotel.



Plus, he is refusing to pay court ordered costs after losing the fight to prevent those windmills close to his
Scottish hotel.



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Response to mahatmakanejeeves (Original post)

Tue Oct 8, 2019, 04:22 PM

6. Remove the Trump name and call it "Turdberry"

It will still be more appealing.

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Response to mahatmakanejeeves (Original post)

Tue Oct 8, 2019, 04:31 PM

8. Maybe that's why he's so hesitant to produce his tax returns.

The public and his gullible supporters would see that he's worth exactly nothing. There goes his so-called business acumen.

Maybe that's why he had to run for president and beg Putin for help because he knew that at least the taxpayers would have to pick up the tab for his next four years of grifting.

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Response to mahatmakanejeeves (Original post)

Tue Oct 8, 2019, 04:31 PM

9. Next step is to blame the Scottish First Minister - a strong woman

Didn't the current peeResident claim some Scottish background? Bet they're glad his ilk were forced out a long time ago. Pity he came back, if briefly.

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Response to mahatmakanejeeves (Original post)

Tue Oct 8, 2019, 10:27 PM

13. Scotland is too beautiful to have the scourge of Trump's name on anything.

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Response to mahatmakanejeeves (Original post)

Wed Oct 9, 2019, 06:36 AM

14. Couldn't happen to a nicer guy.

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