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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.
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’.
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?
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?
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.
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.
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.
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!
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.
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.