Tag: Business

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Business Donald Trump Social Media

Financial Analysts Warn That Trump Media Is On The Verge Of Going Down The Drain

If you happen to own any shares of Trump Media & Technology Group, you should dump them as soon as possible before the price collapses completely and you lose every penny of your investment, financial analysts are warning.

Forbes Senior Editor Dan Alexander says Trump Media is “bleeding money,” telling CNN host Erin Burnett, “It is a sad story. And the trouble here is that if you look at the fundamentals of the company — it’s poised to go down a lot more.”

When it was first offered on the stock market in late March, Trump Media reached a high of over $79 a share. It now stands at $23.77.

The company has even admitted that its financial situation could easily lead to bankruptcy, noting in a filing, “A number of companies that were associated with President Donald J. Trump have filed for bankruptcy,” reads one of the sections of the document. “There can be no assurances that TMTG will not also become bankrupt.”

That, according to Alexander, means Trump Media stock “should fall by at least another 90% before the metrics start to make any amount of sense.”

“For people who are just blindly putting their faith in Trump and in the company — that means that they can stand to lose a lot of money,” Alexander added.

The company was mainly set up to benefit Trump, Alexander went on to explain.

“Meanwhile, the retail shareholders were putting up huge sums to buy in. The ultimate effect is that they put in the cash and the other people walk away with the shares.”

As Rick Wilson rightly observed several years ago, everything Donald Trump touches dies. Including his so-called “media company.”

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Business Crime

New York AG May Impose ‘Corporate Death’ On The Trump Organization

Letitia James is the Attorney General for the state of New York, and that makes her one of the most powerful prosecutors in the country, especially since she’s making it clear that she intends to “use every area of the law” as she investigates the president, his family, and his business, as NBC News has reported:

“New York law allows the attorney general to seek restitution and damages — and, in extreme cases, dissolution — if a business is found to have engaged in persistent fraud. There’s also the Martin Act, a 1921 statute designed to protect investors.

“Past attorneys general have used the Martin Act, considered to be the U.S.’s toughest such state statute in this realm, to expand their powers in the financial crimes sector. The law empowers the attorney general to subpoena witnesses and documents for information pertaining to possible fraud.”

 


As many crimes as the Trump Organization is suspected of having committed (Trump University was just the tip of the iceberg, experts say), AG James could use a legal sledgehammer as she goes about bringing charges against the president’s company, which just so happens to be run by his two eldest sons, Don Jr. and Eric. And that could prove especially catastrophic for the Trump business empire. The power wielded by James under the laws of New York could even be used for a “judgment of corporate death” if she chooses to seek the total dismantling Trump’s holdings in real estate and other businesses.

 


The New York AG has already signaled the direction she plans to pursue, at least initially, having subpoenaed banks that do business with Trump as a way of seeing inside the Trump Organization and Trump’s bank accounts.

Something James told MSNBC host Ari Melber should be of special concern to the president and anyone with connections to the Trump Organization:

“Most of (Trump’s) business activities are performed in New York, he engages in business in New York, he operates in New York and it’s really critically important that New Yorkers as taxpayers — it’s really critically important that we understand and know whether or not he devalued his corporations and he received some tax benefits thereof, that he engaged in false claims against New Yorkers.”

 


Letitia James is going after Trump on numerous fronts. But it’s her investigation of the Trump Organization that could well pose the greatest legal danger to him.

 

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Business Donald Trump The Trump Organization

Trump’s Financial Lies Just Got Him Booted From The World’s Most Exclusive Club

The same financial lies that have gotten disgraced, multiply-indicted ex-president Donald Trump in big trouble with the state of New York now have him in hot water with the most exclusive club in the world: The Forbes 400 ranking of America’s richest people.

Forbes announced today that as a result of Trump’s “relentless” lying to reporters for decades in a pathetic attempt to boost his ranking on the list, he has now been dumped from it completely.

His net worth is down more than $600 million from a year ago. The biggest reason: Truth Social, his social-media business. Trump once envisioned a significant percentage of the country logging onto the platform. But that never happened. Roughly 6.5 million have signed up so far, about 1% of the total on X (né Twitter). Trump’s 90% stake in Truth Social’s parent company has plummeted in value from an estimated $730 million to less than $100 million.

The failed former president is also failing badly on the real estate front, Forbes reports, with his Trump branded properties down in value by a staggering $170 million. That figure could be increasing by even more as the state of New York has also banned Trump and the Trump Organization from doing business in the state and are seeking at least $250 million in financial damages for the crimes allegedly committed by the company.

Is anything going well in the business world for Trump? Well, his golf clubs are at least making money.

As fewer people spend time in the office, more are goofing off on the golf course. That’s especially good news for Trump National Doral, the former president’s most valuable golf property, purchased for $150 million in 2012. Trump commenced an extensive renovation of the Miami resort, reportedly injecting more than $200 million of additional cash, before politics spoiled his investment.

The Donald has been off the list before, only to slither back onto it years later, Forbes notes.

In the 1990s, Trump took out enormous loans that resulted in well-publicized bankruptcies. He made a comeback from that but fell off once more in the midst of the Covid pandemic which hit the hotel and travel industry hard, leading to gigantic losses that he hoped would be offset by the launching of his Truth Social platform, which has been a total bust, with only 6.5 million users. That’s about 1% of the total who are on Twitter. Overall, Trump’s 90% stake in Truth Social’s parent company has fallen in value from $730 million to less than $100 million.

Can Trump reinvent himself this time and make a financial comeback? Considering that he’s 77 years old and facing decades in prison, it seems beyond impossible, especially for a man who doesn’t have an ounce of truth in his enormous, bloated body.

 

Categories
Business LGBT Issues

Walmart Gives Anti-Pride Activists The Middle Finger – Refuses To Pull LGBTQ Merchandise

After anti-LBGTQ bigots started boycotts of Bud Light, Kohl’s, and Target for daring to express their support for LGBTQ equality and Pride Month, many other corporations were worried they might be next.

But the largest retailer in the country, Walmart, is making it clear they won’t be intimidated by bigots and homophobes, letting the world know they will not be pulling any of their Pride Month merchandise for anyone and no matter the consequences.

Yes, Walmart.

Reuters reports that Walmart isn’t about to be intimidated and isn’t making any concessions to bullies.

Walmart on Wednesday said it has not made any changes to its LGBTQ-related merchandise tied to Pride Month, or to security measures in place at its stores, a week after rival Target pulled some LGBTQ-themed products following customer backlash.

“We haven’t changed anything in our assortment,” Latriece Watkins, Walmart’s chief merchandising officer, said.

And if you’re thinking that Walmart doesn’t have to change anything because they don’t offer much in the way of LGBTQ merchandise, consider that they carry “rainbow-adorned flags, clothing and accessories. Its ‘Pride & Joy’ collection includes a $7.98 set of enamel pins with messages such as ‘Be you. Be Proud.’ and ‘You are enough.'”

Watkins also noted that there has been no need to increase security at its stores, many of which are located in deeply red states.

“In this particular case, when we think about security … we have not done anything in particular differently related to security in our stores.”

Online reaction to Walmart’s hardline stance has been muted, and there have been almost no calls for a boycott of the retailer. Kind of makes you wonder why the haters have chosen to exclude Walmart.

 

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Business Elections GOP Ron DeSantis

Florida Loses 2,000 Jobs After Disney Pulls $1 Billion Development Project From The State

Florida Gov. Ron DeSantis (R) loves to say that if he becomes president, he’ll run the country much the way he runs the Sunshine State.

If that’s true, news today from the Walt Disney Company suggests the United States would be in a deep recession within six months of DeSantis taking the oath of office.

According to CNBC and The New York Times, Disney has scrapped plans to open a new employee campus in Lake Nona, Florida, a decision that will cost the state 2,000 jobs and over $1 billion in potential profits.

Citing “changing business conditions” and the return of CEO Bob Iger, Josh D’Amaro, chairman of Disney’s parks, experiences and products division, penned a memo to employees Thursday, announcing that the company will not move forward with construction of the campus and will no longer be asking more than 2,000 California-based employees to relocate to Florida.

“This was not an easy decision to make, but I believe it is the right one,” D’Amaro told employees.

The decision by Disney is the latest sparring between the company and DeSantis, who has targeted the multinational corporation simply because it dared to publicly disagree with his anti-LGBTQ law — “Don’t Say Gay” — that limits the discussion of gender identity or sexual orientation in Florida classrooms, even if the topic is raised by students.

Disney has also filed suit against the state for targeting its special Reedy Creek Improvement District, which allowed the company to operate virtually independent of any government intrusion.

DeSantis is expected to announce his bid for the 2024 GOP presidential nomination sometime next week.