Trump steps out of the White House and into a company in crisis

[mahatmakanejeeves]

NEW: Trump is returning to a company in crisis.

It's losing revenue because of covid.

It's losing lawyers, bankers, brokers, vendors, lenders, a golf tournament, a carousel, two ice rinks, a golf course and possibly the Girl Scouts because of...him.

Link to tweet

Politics

Trump steps out of the White House and into a company in crisis

By David A. Fahrenthold and Jonathan O'Connell
Jan. 21, 2021 at 7:35 p.m. EST

Donald Trump returns to his company this week as it faces a deepening crisis, with key properties bleeding revenue and its bankers, lawyers and customers fleeing the company.

Financial disclosure forms, filed by the former president as he left office, revealed that his hotels, resorts and other properties had lost more than $120 million in revenue last year, as the pandemic forced long-term closures and kept customers home.

Those losses were worst in the places where Trump could least afford it: His Washington hotel, which has a $170 million loan outstanding, saw revenue drop more than 60 percent. His Doral resort in Miami — also carrying a huge debt load — saw a 44 percent drop.

On Thursday, the company’s troubles grew: One of its banks and one of its law firms said they would cut their ties with the Trump Organization. They are the latest in a string of vendors and customers who severed their relationships with the company after Jan. 6, when a mob of Trump supporters attacked the U.S. Capitol directly after he addressed them at a rally.

{snip}

David Fahrenthold
David A. Fahrenthold is a reporter covering the Trump family and its business interests. He has been at The Washington Post since 2000, and previously covered Congress, the federal bureaucracy, the environment and the D.C. police. Follow https://twitter.com/Fahrenthold

Jonathan O'Connell
Jonathan O'Connell is a reporter focused on economic development, corporate accountability and the Trump Organization. Follow https://twitter.com/OConnellPostBiz

[OAITW r.2.0]

1. Kinda fucked for the rest of his days.

He should have stuck with developing the MAGA brand w/o running for President.

[mobeau69]

3. He should've deposited the money from his old man

into a mutual fund. The dumbass.

[turtleblossom]

2. That's probably why he didn't pardon his kids since they were the ones who running his businesses

supposedly.

He's probably blaming them.

[Ford_Prefect]

4. It seems Chicken Little had a point: The sky IS falling on Donald Trump. How Sad.