In 2018, Forbes Magazine led with a headline: Trump’s biggest potential conflict of interest is hiding in plain site. Forbes was talking about how the Trump empire of hotels, out in public, could be a way to manipulate the needs of the president. Now, in the middle of a pandemic that has been poorly managed, Trump industries is worried about their financial strength.
Employees of Trump’s businesses weren’t spared the harsh realities of the economy as they found themselves unemployed. The India Times points this out:
Like other hotels around the world, Trump's have been forced to lay off most workers -- and face the fact that the $435 million in revenues that the Trump Organization reported in 2018 is likely to plummet this year.
As time passes, the Trump empire is looking to get some financial relief, and they have an offer you just can’t refuse.
Imagine you are a bank, a local county or city government. The business of the US President comes to you and asks for relief. Can you say no? If you say no, do you worry about retribution? Trump’s past reaction on Twitter and in policy shows that refusing him anything tends to result in being attacked. So, what can you do? MSN points this problem out:
Representatives of Mr. Trump’s company have recently spoken with Deutsche Bank, the president’s largest creditor, about the possibility of postponing payments on at least some of its loans from the bank.
And in Florida, the Trump Organization sought guidance last week from Palm Beach County about whether it expected the company to continue making monthly payments on county land that it leases for a 27-hole golf club.
…
While businesses nationwide are seeking similar relief, Mr. Trump’s status as president means his company’s actions are freighted with potential conflicts of interest for lenders and landlords. At Deutsche Bank, for example, some executives have said they were worried about the possibility of retaliation by the Trump administration if they were ever to come into conflict with the president.
Can you turn the president down?
When a business with Trump in the name come calling to your local government or bank, is it an offer you just can’t refuse?