For the sake of the Trump Organization, Donald Trump’s presidency can’t end soon enough. It needs the boss back in the corporate saddle ASAP.
As reported by Crain’s New York Business, TO is a “loser” in the tweeter-in-chief’s hometown market. Sad.
Its plans to build hotels, such as the more down-market Scion or American Ideas format in NYC, are shelved. Condo sales at Trump Tower and Trump International Hotel and Tower are weak. Revenues from the Trump Golf Links at Ferry Point (Bronx) have tanked.
Meanwhile, TO’s rankings in Crain’s list of the top privately-held companies list has tumbled from No. 3 to the 40th notch.
Things have gotten so bad for TO that it opened a cheesy online store this month to cash in on whatever equity remains in the Trump name.
The company owned by the President of the US now hawks an assortment of junk such as gold coin bar banks ($25), “Charlie the Beagle” plush dogs ($35), red striped polo shirts ($105), baby bibs ($20), Trump crest woolen hats ($32) and ladies golf jackets ($98). Would Putin stoop as low? Nyet!
The company says the store is for visitors to its properties who want souvenirs or a piece of the Trump experience.
But as Crain’s notes, there are fewer visitors to those properties. And TO’s outlook in NYC is not bright due to its concentration in the saturated hotel and luxury condo markets. “Regardless of what people think about Trump, the question is: Do we really need more,” Jesse Rosenthal, real estate analyst, said to Crain’s.
TO requires drastic action. Donald Jr., who is up-to-his neck in the Russian collusion business, and Eric just can’t cut it as TO’s leaders. TO needs the management savvy and the wheeling and dealing skills of The Donald.
For the good of TO, the President should step down and return to the family business.
His sons, employees, the nation and the rest of the world would applaud such a gracious move.