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re: Trump doesn't know what he's doing guys! Bernie Sanders denounces Carrier
Posted on 12/1/16 at 12:55 pm to SirWinston
Posted on 12/1/16 at 12:55 pm to SirWinston
Y'all are forgetting who we are dealing with here, Bernie is even further left than most democrats. Nancy Pelosi, a leader in the Democratic Party, coined the term "job-locked."
Job locked- when you can't pursue hobbies because you are employed
Job locked- when you can't pursue hobbies because you are employed
This post was edited on 12/1/16 at 1:02 pm
Posted on 12/1/16 at 12:57 pm to DBest
quote:
$7MM in tax incentives over ten years to save 1,000 jobs. I don't like the deal because it gives up $7MM in tax revenue to save 1,000 jobs for a company in which the parent relies heavily on US Government contracts
That is 1000 jobs that will continue to pay in Federal payroll taxes. It is a net of about 90 million over a 10 year period.
Posted on 12/1/16 at 1:54 pm to MrLarson
Who cares about your facts!
Posted on 12/1/16 at 2:16 pm to DBest
quote:
7MM in tax incentives over ten years to save 1,000 jobs.
That adds up to $700/yr per job in tax breaks. OK. Now we have 1000 taxpayers who will all pay more than $700/yr in taxes. How much tax revenue would those jobs produce, if they all moved to Mexico?
You are focusing on the wrong part of the deal. How many of those folks would be a drain on the taxpayers without those jobs?
Posted on 12/1/16 at 2:47 pm to DBest
Bernie doesn't realize that 1,000 jobs making a hypothetical $30k a year at a state tax rate of 3.4% brings in $10.2 million in income tax revenue
10.2 > 7
10.2 > 7
Posted on 12/1/16 at 6:21 pm to MrLarson
Again, you guys are all missing the point. If you are a negotiator of any sort, you don't get pushed into giving up anything when the opposite side of the table stands to lose $5billion. You guys can't be that blind. Now consider how companies with no existing relationship come to the table going forward. All you guys see is jobs saved which is good but that can't blind you when evaluating a deal. The conversation should have been..."move the jobs to Mexico and we will look elsewhere for our existing agreements." Now who can argue they would approach it differently?
Posted on 12/1/16 at 6:23 pm to Contra
quote:
Add in the biggest sellout I may have ever witnessed
Please explain. Try, at least.
Posted on 12/1/16 at 6:24 pm to MrLarson
You took a portion of my post and thus your comment does not fit the context of my argument.
Posted on 12/1/16 at 6:25 pm to SirWinston
quote:
will definitely trust Bernie Sanders, who had negative assets will into his 50's over a multi-billionaire who shattered both political establishments, the media, and an entire multi-billion dollar industry of consultants, pundits, etc.
You mean a good man who.never took advantage, economically, of his position vs a kid who never worked a day in his life and inhereted a billion dollars? Riiigghhtt. Trump sells his name bc he is rich and people know who he is. He's the Paris Hilton of politics
Posted on 12/1/16 at 6:31 pm to Ebbandflow
quote:
vs a kid who never worked a day in his life and inhereted a billion dollars?
Who is this supposed to be?
Posted on 12/1/16 at 6:32 pm to Ebbandflow
quote:
You mean a good man who.never took advantage, economically, of his position
![](https://images.tigerdroppings.com/Images/Icons/Iconrotflmao.gif)
quote:
of his position vs a kid who never worked a day in his life
The man gets more done in 1 day than most people do in a year. He works his arse off.
quote:
and inhereted a billion dollars? Riiigghhtt.
You spelling is atrocious. And it was $1 Million, that he grew into many billions.
Posted on 12/1/16 at 6:41 pm to SirWinston
quote:
will definitely trust Bernie Sanders, who had negative assets will into his 50's over a multi-billionaire who shattered both political establishments, the media, and an entire multi-billion dollar industry of consultants, pundits, etc.
True but give Bernie credit, he's not a complete fool, he finally bowed down to the democratic machine and got that lake house for being a good boy.
Posted on 12/1/16 at 6:45 pm to TrebleHook
800 jobs saved and 1200 still going to Mexico. I can do math, I am a Finance Director. Shouldn't have to give any incentives other than keeping their $5 billion we pay them every year. This is not smart negotiations. The working class continues to not see things for what they are but that is ok with me if it is ok with them. And...what happens in 10 years for those workers when the incentives run out guys??? That's right, the rest of the jobs then go to Mexico. Open your eyes or continue to be lied to.
Posted on 12/1/16 at 6:46 pm to Contra
I would definitely take the word of a guy who doesn't understand secured versus unsecured debt.
Posted on 12/1/16 at 6:47 pm to TrebleHook
+ state sales tax on every dollar of the 90 million spent by the employees
Posted on 12/1/16 at 7:01 pm to Vols&Shaft83
quote:
You spelling
Right back at you, sport.
Here ya go:
"many claims have been made about Donald Trump's business career during the presidential campaign — from Trump’s dramatic statements about his own success, to Marco Rubio’s fiery attacks during the Republican debate Thursday night. The questions remain: Is Trump really a titan of American business, a model of entrepreneurial success and self-invention? Or is he a reality TV star who has spent his career playing around with businesses built with inherited money, while ceaselessly courting celebrity along the way?
The truth appears to be somewhere in between. His business decisions over the years show that Trump is a mix of braggadocio, business failures, and real success.
Trump has dabbled in everything from real estate to steak, casinos and beauty queens, and he serves as an executive for more than 500 companies. Yet on top of his real business success, he has built an architecture of self-aggrandizement. “I play to people’s fantasies,” Trump wrote in his 1987 book “The Art of the Deal.” “I call it truthful hyperbole. It’s an innocent form of exaggeration — and a very effective form of promotion.”
Given all the “truthful hyperbole” out there about Trump, it’s hard to know what to believe. Here are five of the most important things to know about Trump’s business career.
1) He has a talent for real estate, but that hasn’t always translated well to other industries.
Trump has forged a successful real estate career over 45 years, profiting from flagship buildings like the Trump Tower on Fifth Avenue in Manhattan, the Trump Tower Chicago, and Mar-a-Lago, a private club in Palm Beach, Fla. His Trump Organization owns a portfolio of buildings, hotels and golf courses around the world.
Yet his real estate business isn’t exactly the dominant force he suggests. Despite a national reputation as a New York property mogul, Trump doesn’t make it into top 10 lists of the city’s real estate players.
While his dealings in hotels and golf courses around the world appear to be success — his companies are privately held, so details are scarce — forays into casinos, airlines, professional football and other industries have ended badly.
Related: The Trump Network sought to make people rich, but left behind disappointment
In 1990, Donald Trump opened the largest and most lavish casino-hotel complex in Atlantic City. Unlike any other casino in America, the Trump Taj Mahal was expected to break every record in the books. But just several months later, it all fell apart. (The Washington Post)
His casino business, which produced the four bankruptcies that political opponents often hammer him about, is probably his most infamous flop. Though Trump paints these Chapter 11 bankruptcies as if they were a good deal, saying they allowed him to get out of a failing Atlantic City business at a strategic time, the 1991 bankruptcy proceedings brought him close to losing much of his personal fortune. As Drew Harwell and Jacob Bogage wrote for the Post, Trump had to put millions of dollars of his own money into struggling companies, sold his yacht and his airline, gave up substantial ownership stakes and decision making roles, and even agreed to limits on his own personal spending.
Today, Trump describes these bankruptcies as if no one was hurt in the process, except high rollers and sharks. He says that he has started hundreds of companies, but only used bankruptcy proceedings four times. And he claims that Atlantic City has been a losing proposition for most entrepreneurs. "Almost every hotel in Atlantic City has either been in bankruptcy or will be in bankruptcy," Trump said during the third Republican debate.
Michael d’Antonio, who wrote a recent biography of Trump, says that is an incomplete assessment.
“But there were many people who weren’t wealthy who lost money on those bankruptcies,” he said. “Anyone who invested in a bond fund or who bought individual securities that were linked to his casinos lost money.”
According to the New York Times, Wall Street banks remain hesitant to deal with Trump, due to the previous bankruptcies and his litigious nature. Federal Election Commission disclosures have shown that 15 companies associated with Trump owe more than $270 million to banks. Trump responds to these critiques by saying that he doesn't use Wall Street because he doesn't need the money — he's rich enough to do his own financing.
Another long and strange story is Trump’s involvement with professional football in the 1980s. In 1984, Trump bought the New Jersey Generals, a team in the nascent and briefly-lived United States Football League, which played its games in the spring, after the Super Bowl.
In New York Times writer Joe Nocera’s account, Trump’s aim was in large part to have the league acquired by the National Football League, in the same way that the American Football League merged with the NFL in 1966. Trump led a charge to move the league's games from the spring to the fall, when they would go head-to-head with the NFL. Instead of merging with the NFL, the USFL simply flopped.
“I think he’s very good at real estate, I don’t think he’s very good at other things,” says biographer D'Antonio. “He tried to run an airline and failed at that. He tried to run casinos and failed four times. That’s not evidence of brilliance when it comes to operating a complex business.”
Trump has acknowledged a tendency to get bored easily with business ventures. “The same assets that excite me in the chase, often, once they are acquired, leave me bored,” Trump wrote in one of his books. “For me, you see, the important thing is the getting, not the having.”
Posted on 12/1/16 at 7:01 pm to Ebbandflow
Trump is not a self-made man.
One of Marco Rubio’s top zingers in the debate last week was that if Trump hadn’t gotten an inheritance of $200 million from his father, he’d be “selling watches” in the streets of Manhattan. Rubio got the figures about Trump’s inheritance wrong — $200 million is actually what Trump’s dad’s fortune was estimated at in the 1970s, not Trump’s inheritance — but Trump clearly benefited from the wealth and connections of his father, Fred Trump.
One of the richest people in America in the 1970s, Fred Trump built a real estate empire developing apartments for middle-class families in Brooklyn, Queens and Staten Island after World War II. After the younger Trump graduated from the University of Pennsylvania's Wharton School in 1968, he joined his dad’s firm and, in 1971, took over the business. He built on his dad’s success, deploying leveraged capital on risky ventures that paid off: the Grand Hyatt Hotel on East 42nd Street, the Trump Tower on Fifth Avenue, and Trump Plaza on 61st and Third Avenue.
What Trump benefited most from initially was his dad’s credit-worthiness, says D’Antonio. “When he wanted to go into business on his own, his father’s credit was available to him, and that was worth tens of millions of dollars.”
Still, there are questions over how much wealth Trump created. In the debate last week, Trump claimed that he took a loan of $1 million from his father and he turned it into a fortune of $10 billion. But The Post's fact checkers say that neither claim is quite right.
The $1 million loan doesn’t include any of the benefits Trump received from his family’s connections and joining his father’s real estate business after he graduated from college, and it doesn’t count an estimated $40 million inheritance in 1974. The $10 billion figure, which is what Trump claims as his current net worth, is also disputed. Bloomberg News has estimated Trump's net worth at only $2.9 billion, while Forbes put it at $4.1 billion. Since Trump’s businesses aren’t public, the true figure isn’t clear.
As my colleague Max Ehrenfreund has argued, even if Trump has many billions of dollars, there's an open question over whether that reflects true business acumen.
Business Week estimated Trump’s net worth at $100 million in 1978. If Trump had merely put that money in an index fund based on the Standard & Poor's 500 index — the kind many Americans use to save for retirement — he would be worth $6 billion today.
I was closer
One of Marco Rubio’s top zingers in the debate last week was that if Trump hadn’t gotten an inheritance of $200 million from his father, he’d be “selling watches” in the streets of Manhattan. Rubio got the figures about Trump’s inheritance wrong — $200 million is actually what Trump’s dad’s fortune was estimated at in the 1970s, not Trump’s inheritance — but Trump clearly benefited from the wealth and connections of his father, Fred Trump.
One of the richest people in America in the 1970s, Fred Trump built a real estate empire developing apartments for middle-class families in Brooklyn, Queens and Staten Island after World War II. After the younger Trump graduated from the University of Pennsylvania's Wharton School in 1968, he joined his dad’s firm and, in 1971, took over the business. He built on his dad’s success, deploying leveraged capital on risky ventures that paid off: the Grand Hyatt Hotel on East 42nd Street, the Trump Tower on Fifth Avenue, and Trump Plaza on 61st and Third Avenue.
What Trump benefited most from initially was his dad’s credit-worthiness, says D’Antonio. “When he wanted to go into business on his own, his father’s credit was available to him, and that was worth tens of millions of dollars.”
Still, there are questions over how much wealth Trump created. In the debate last week, Trump claimed that he took a loan of $1 million from his father and he turned it into a fortune of $10 billion. But The Post's fact checkers say that neither claim is quite right.
The $1 million loan doesn’t include any of the benefits Trump received from his family’s connections and joining his father’s real estate business after he graduated from college, and it doesn’t count an estimated $40 million inheritance in 1974. The $10 billion figure, which is what Trump claims as his current net worth, is also disputed. Bloomberg News has estimated Trump's net worth at only $2.9 billion, while Forbes put it at $4.1 billion. Since Trump’s businesses aren’t public, the true figure isn’t clear.
As my colleague Max Ehrenfreund has argued, even if Trump has many billions of dollars, there's an open question over whether that reflects true business acumen.
Business Week estimated Trump’s net worth at $100 million in 1978. If Trump had merely put that money in an index fund based on the Standard & Poor's 500 index — the kind many Americans use to save for retirement — he would be worth $6 billion today.
I was closer
Posted on 12/1/16 at 7:11 pm to Contra
Sanders position was disgusting. Totally in Clinton's thrall.
Posted on 12/1/16 at 7:16 pm to DBest
The us pays 5 billion a year to this company? If true you may have a point. Do you have a link to this figure?
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