Tag: Donald Trump

Grover Norquist Thinks This Donald Trump Debate Is a Dynamite Idea

Perhaps you’ve heard that oafish hair transplant recipient Donald Trump is going to moderate a GOP debate. Shockingly, a number people aren’t taking this idea too seriously and for good reason! The man is rich. And busy. And important. Plus, he has young kids at home. You know how kids are. How could he possibly squeeze such an important event into his schedule? Seems impossible. Oh, and then there’s the part where he’s an egomaniac that pretended he was thinking about running for President while maintaining that the President was born on Mars or some damn place. That too.

But you know who thinks this whole Donald Debate is fabulous idea? Yep:

I am assured that Donald Trump will be a fair-minded moderator and joined by serious journalists. This contrasts with several debates that have already occurred which have been moderated by hostile members of the left wing media. I strongly urge all GOP candidates to attend this debate.

At this time we’ll presume that being MIA from the debate will not equate a violation of the Taxpayer Protection Pledge but Mittens is skipping this circus, GGN’s choice may be easy.

[via ATR]

Donald Trump Once Proposed a One-Time 14.25% Net Worth Tax

Back in 1999, when the The Donald was also faux-considering a Presidential run, he proposed a one-time 14.25% net worth tax on anyone with a net worth of $10 million that would solve all our national debt problems in a blink of an eye.

According to an article published by CNN in November of ’99, DT crunched the numbers himself and “his proposed 14.25 percent levy on such net worth would raise 5.7 trillion and wipe out the debt in one full swoop.” Of course this was all before the SCOTUS determined the outcome of an election, 9/11, Afghanistan, Iraq, George W. Bush somehow winning re-election, Barack Obama being elected President, The Tea Party, Libya and several seasons of The Apprentice. And seeing how Mr. Trump’s politics change like his hair caught in a a gusty wind, it’d be surprising if he still felt strongly about this particular policy. [CNN via TaxProf]

Accounting News Roundup: Lehman Investigation Narrows, SEC to Bring Charges Someday; Dubai World’s Debt Deal; Trump Makes Offer to Park51 Investor | 09.10.10

SEC Homes In on Lehman, ‘Funds of Funds’ [WSJ]
“The Securities and Exchange Commission’s investigation into the collapse of Lehman Brothers Holdings Inc. is zeroing in on an accounting maneuver used to give the appearance that the companyt levels, according to people familiar with the situation.

Agency officials also are probing whether former Lehman executives failed to adequately mark down the value of the huge real-estate portfolio acquired in the securities firm’s takeover of apartment developer Archstone-Smith Trust or to disclose the resulting losses to investors, these people said.

The narrowing probe could move the SEC closer to bringing civil charges related to Lehman’s collapse in September 2008, though a decision doesn’t appear imminent.”

Study Says Directors Favor Themselves, Not Shareholders [FINS]
“A new study found that directors who field whistleblowing claims are likely to discount charges that could threaten their board seats and will assign fewer resources into investigating such claims.

In weighing hypothetical charges, 83 veteran directors at large U.S. corporations said they would allocate 42% fewer resources on average to fraud tips that might ultimately cost them their board seats.”

Dubai World reaches $24.9 billion debt deal [Reuters]
“State-owned conglomerate Dubai World DBWLD.UL on Friday reached a formal deal to restructure around $24.9 billion of liabilities, partly easing recently heightened concerns over the Gulf emirate’s debt woes.

While Dubai World’s agreement with most of its creditors is seen as a positive step for Dubai, the announcement comes just days after a unit of Dubai Holding, the conglomerate owned by Dubai’s ruler, said it will delay repayment on a $555 million loan, the second time it has failed to meet a repayment deadline.”

Huguette Clark’s multi-million-dollar fortune remains in hands of her financial managers [NYDN]
“Millionaire recluse Huguette Clark’s $500 million fortune will remain in the hands of financial managers who are under investigation, a Manhattan judge decided Thursday.

Judge Laura Visitacion-Lewis tossed a request by Clark’s relatives to appoint an independent guardian to oversee her finances and property, including Fifth Avenue’s biggest co-op apartment.

The judge called the family’s concerns about Clark’s health and state of mind “speculative” and “insufficient” to merit wresting control from her lawyer, Wallace Bock, and accountant, Irving Kamsler.”

Control Freak Q&A With Caleb Newquist [Control Freak]
Approva’s Control Freak blog asked me what I liked about being “control freaky.” Check out this post for the answer and more bits of wisdom from Adrienne’s favorite blogger.


Trump Offers to Buy Out Islamic Center Investor [WSJ]
“Mr. El-Gamal, founder of SoHo Properties, is one of eight investors who paid $4.8 million for a building two blocks from the site of the Sept. 11 terrorist attacks.

The statement came following reports that real estate mogul Donald Trump was offering to buy one investor’s stake in the property.

In a letter to Hisham Elzanaty, an Egyptian-born Long Island businessman and a major investor in the project, Mr. Trump offered to buy his stake for 25% more than Mr. Elzanaty paid for it.”

Former GE Unit Executive Says He Was Pushed Out for Questioning Accounting [Bloomberg]
“General Electric Capital Services was sued by a former executive who claims he was forced out for questioning the company’s treatment of an asset.

Edward Gormbley, who worked for GE Capital from 2000 until he quit in September 2009, filed his suit today in state court in Stamford, Connecticut. The complaint also names parent General Electric Co. and its chief executive officer, Jeffrey Immelt.

Gormbley said he was punished for challenging the valuation of silicon-maker Momentive Performance Materials, an investment asset. GE Capital overstated Momentive’s value in December 2008 to improve its own balance sheet, he said. Valuing the asset correctly would have reduced ‘GE Capital’s earnings 100 percent,’ in the fourth quarter that year, according to the complaint.”