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News from Trump's Golf Resorts.

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posted on Jan, 3 2021 @ 01:15 PM
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It was admittedly with a little glee, (which will be explained later), that I read in The Scotsman that Trump's Turnberry golf resort, in the year leading up to the 31st January 2019, recorded a whopping loss of £2.3M ($3.14M). Meaning it has been running at a loss for 6 years in a row.

It's not for the want of customers either ...


The property, the jewel in the crown in the Trump Organisation’s international property portfolio, recorded record turnover, but did not register a profit due to depreciation and amoritisation costs, as well as ongoing capital expenditure.


In fact it's reported in Newsweek that Turnberry had a record turnover of £19.66M ($26.8M).

The Scotsman goes on to say...


The new accounts show that £4.86m in losses were registered through depreciation and amoritisation, which prevented it from registering its first profit under Mr Trump’s ownership. The depreciation charge of £3.79m was caused by the transfer of assets classed as ‘under construction’ during Turnberry’s latest refurbishment. The accounts also state that £2.68m was spent on ‘fixed asset additions’.


This means that Turnberry has actually lost a total of £45M (£61.5M) since 2014

What is staggering about this is that these losses come despite the fact the resort has received a lot of payments from the US Government while Trump has been in office.

It doesn't end there. Just days before the Turnberry announcement, Trump's inaugural Scottish golf resort at Menie in Aberdeenshire reported losses of £1.1M ($1.5M), this is the 8th year in a row it has made a loss, it's lost a total of £15.5M ($21.2M) since 2012.

And it isn't just in Scotland that we see this happening.

In 2014 Trump spent £20M ($27.4M) on the Trump International Golf Links and Hotel in Doonbeg, Ireland and has spent £12M ($16.4M) in the 3 years from 2015 on it and it too suffered losses (to the tune of £9M or $12.3M).

When Trump acquired the land to build his resort at Menie, one of my family, David Milne, didn't want to sell.

You can read more about David and the other residents that didn't want to sell here, in the National Review...

I don't think these financial losses could have happened to a more fitting cretin!


+7 more 
posted on Jan, 3 2021 @ 01:18 PM
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Tax write offs. I thought you lefties were crying about how Trump was profiting off his POTUS status? Which is it?


+5 more 
posted on Jan, 3 2021 @ 01:19 PM
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a reply to: djz3ro

I wonder if Netflix would ever tell the truth on how much money they have lost since partnering with the Obamas?

Cuties, an Obama production.

edit on 3-1-2021 by SKEPTEK because: (no reason given)



posted on Jan, 3 2021 @ 01:20 PM
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originally posted by: panoz77
Tax write offs. I thought you lefties were crying about how Trump was profiting off his POTUS status? Which is it?


They've no idea. Imagine being so angry all the time.



posted on Jan, 3 2021 @ 01:22 PM
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originally posted by: panoz77
Tax write offs. I thought you lefties were crying about how Trump was profiting off his POTUS status? Which is it?


I have heard of companies operating subdivisions at a loss for taxes. I think Amazon did it for like 12 years and is still reaping the benefits from that.
edit on 3-1-2021 by Xtrozero because: (no reason given)



posted on Jan, 3 2021 @ 01:24 PM
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originally posted by: SKEPTEK
I wonder if Netflix would ever tell the truth on how much money they have lost since partnering with the Obamas?


It a publicly traded company, their earnings in Q3 were four times what they were in 2017.




edit on 3-1-2021 by AugustusMasonicus because: dey terk er election



posted on Jan, 3 2021 @ 01:24 PM
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originally posted by: panoz77
Tax write offs. I thought you lefties were crying about how Trump was profiting off his POTUS status? Which is it?


I've never said that, his resort at Menie is where my dislike of him started.



posted on Jan, 3 2021 @ 01:24 PM
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In reply to panoz77:

It's both.

He loses money because he's a bad businessman, but he makes money by charging high prices for his Secret Service to stay at Maralago. To the tune of one million dollars just for Secret Service.

He can do both.

And you're right. He's got lots of tax right offs. That's why he only pays $750 dollars to the US Federal Government, but almost $200,000 to the Chinese government.

edit on 3-1-2021 by MiddleInsite because: grammar

edit on 3-1-2021 by MiddleInsite because: adding content

edit on 3-1-2021 by MiddleInsite because: added content

edit on 3-1-2021 by MiddleInsite because: spelling error



posted on Jan, 3 2021 @ 01:25 PM
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YES! golf is rough EVERYWHERE!!!

There Aren't Enough Golfers To Keep All Of The U.S. Courses In Business

www.npr.org...

“We’ve seen a pretty significant decline in the number of golf courses, both because of oversupply and underdemand,” said Ed McMahon, a senior resident fellow at the institute.


www.reuters.com...

I like to load my cart up with as much cold beer as possible; if theres room for the clubs, I bring them too



I miss playing, really


a reply to: djz3ro




posted on Jan, 3 2021 @ 01:29 PM
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originally posted by: MiddleInsite
It's both.

He loses money because he's a bad businessman, but he makes money by charging high prices for his Secret Service to stay at Maralago. To the tune of one million dollars just for Secret Service.

He can do both.

And you're right. He's got lots of tax right offs. That's why he only pays $750 dollars to the US Federal Government, but almost $200,000 to the Chinese government.


Source? or just feelz?



posted on Jan, 3 2021 @ 01:30 PM
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originally posted by: Flesh699

originally posted by: panoz77
Tax write offs. I thought you lefties were crying about how Trump was profiting off his POTUS status? Which is it?


They've no idea. Imagine being so angry all the time.


who is angry all the time?
that was a good one! welcome to ats by the way! meeting place for optimists and happy people.

edit on 3-1-2021 by oloufo because: (no reason given)



posted on Jan, 3 2021 @ 01:36 PM
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a reply to: djz3ro

I'd impeach him.

*shakes an angry fist at Trump*



posted on Jan, 3 2021 @ 01:38 PM
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originally posted by: AugustusMasonicus

originally posted by: SKEPTEK
I wonder if Netflix would ever tell the truth on how much money they have lost since partnering with the Obamas?


It a publicly traded company, their earnings in Q3 were four times what they were in 2017.





Sure.



posted on Jan, 3 2021 @ 01:38 PM
link   

originally posted by: djz3ro
It was admittedly with a little glee, (which will be explained later), that I read in The Scotsman that Trump's Turnberry golf resort, in the year leading up to the 31st January 2019, recorded a whopping loss of £2.3M ($3.14M). Meaning it has been running at a loss for 6 years in a row.

It's not for the want of customers either ...


The property, the jewel in the crown in the Trump Organisation’s international property portfolio, recorded record turnover, but did not register a profit due to depreciation and amoritisation costs, as well as ongoing capital expenditure.


In fact it's reported in Newsweek that Turnberry had a record turnover of £19.66M ($26.8M).

The Scotsman goes on to say...


The new accounts show that £4.86m in losses were registered through depreciation and amoritisation, which prevented it from registering its first profit under Mr Trump’s ownership. The depreciation charge of £3.79m was caused by the transfer of assets classed as ‘under construction’ during Turnberry’s latest refurbishment. The accounts also state that £2.68m was spent on ‘fixed asset additions’.


This means that Turnberry has actually lost a total of £45M (£61.5M) since 2014

What is staggering about this is that these losses come despite the fact the resort has received a lot of payments from the US Government while Trump has been in office.

It doesn't end there. Just days before the Turnberry announcement, Trump's inaugural Scottish golf resort at Menie in Aberdeenshire reported losses of £1.1M ($1.5M), this is the 8th year in a row it has made a loss, it's lost a total of £15.5M ($21.2M) since 2012.

And it isn't just in Scotland that we see this happening.

In 2014 Trump spent £20M ($27.4M) on the Trump International Golf Links and Hotel in Doonbeg, Ireland and has spent £12M ($16.4M) in the 3 years from 2015 on it and it too suffered losses (to the tune of £9M or $12.3M).

When Trump acquired the land to build his resort at Menie, one of my family, David Milne, didn't want to sell.

You can read more about David and the other residents that didn't want to sell here, in the National Review...

I don't think these financial losses could have happened to a more fitting cretin!


Depreciation is a phantom loss... Accounting rules allow you to take it against income and often times it will result in a loss even though the business is quite profitable. This is why analysts and investors look at EBITDA as a measure of business health. Earnings BEFORE Interest Taxes and Depreciation / Amortization.

You always add back Depreciation and Amortization when analyzing financial statements.



posted on Jan, 3 2021 @ 01:43 PM
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originally posted by: DBCowboy
a reply to: djz3ro

I'd impeach him.

*shakes an angry fist at Trump*


They already did that.This calls for something worse.

No more McDonald's. Ever.



posted on Jan, 3 2021 @ 01:44 PM
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originally posted by: FauxMulder

originally posted by: DBCowboy
a reply to: djz3ro

I'd impeach him.

*shakes an angry fist at Trump*


They already did that.This calls for something worse.

No more McDonald's. Ever.


Pelosi should over-turn the election results so she can impeach Trump again because; golf and reasons.



posted on Jan, 3 2021 @ 01:44 PM
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originally posted by: SKEPTEK
a reply to: djz3ro

I wonder if Netflix would ever tell the truth on how much money they have lost since partnering with the Obamas?

Cuties, an Obama production.


Netflix is like tesla.
Their stocks preform pretty well even though the companies lose money.
Sooner or later the bill comes due.



posted on Jan, 3 2021 @ 01:46 PM
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originally posted by: Flesh699

originally posted by: panoz77
Tax write offs. I thought you lefties were crying about how Trump was profiting off his POTUS status? Which is it?


They've no idea. Imagine being so angry all the time.


Hey Flesh, check your inbox



posted on Jan, 3 2021 @ 01:50 PM
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originally posted by: SKEPTEK
Sure.


Q4 2017 EPS $0.41, Q3 2020 EPS $1.74.

Facts are fun.



posted on Jan, 3 2021 @ 01:54 PM
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As someone said golf is down everywhere millennials aren't very competitive by nature. Video games that doesn't really count for much.

Locally I can think of 3 courses that have closed in the last few years but mostly here parents have handed it down and kids divide it up and cash it out.





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