Kevin O’Leary of ‘Shark Tank’ Blasts New York Ruling on Trump: ‘I Would Never Invest in New York Now’
“I’m not different than any other investor. I’m shocked at this. I can’t even understand or fathom the decision at all.”
Kevin O’Leary, the investor/developer host of ‘Shark Tank’ on ABC, recently appeared on FOX News and blasted the $350 million ruling against Trump. O’Leary suggested that this is not about Trump, and that the real issue is what it will do to ruin investments in the city and state because of the message it sends.
Professor Jacobson recently wrote about getting out of New York and this is related. Kevin O’Leary says Kathy Hochul’s message following the ruling will fall on deaf ears.
Mediaite reports:
Shark Tank’s Kevin O’Leary Declares to Fox He’ll ‘Never Invest’ in NY After Trump Ruling: ‘Was Already a Loser State’
Shark Tank co-host and entrepreneur Kevin O’Leary declared on Monday he would never invest in New York ever again, pointing to a judge ordering Donald Trump to pay $350 million-plus last week as his last straw.
“I’m not different than any other investor. I’m shocked at this. I can’t even understand or fathom the decision at all. There’s no rationale for it,” O’Leary told Neil Cavuto on Fox Business…
O’Leary called Trump’s actions a victimless crime and said other companies are now going to be even more fearful to conduct business in New York, which the Canadian-born O’Leary called a “loser state.”
“It doesn’t matter what the governor says, New York was already a loser state. Like California’s a loser state. There are many loser states because of policy, high taxes, uncompetitive regulation, it was already on the top of the list of being a loser state. I would never invest in New York now, and I’m not the only person saying that,” he said.
Here’s a quick clip:
NEW: Shark Tank's Kevin O'Leary says he will never invest in a "loser state" like New York because of how they treated Trump.
Investing in New York is a death wish.
O'Leary said there is no chance he puts his money in NY and is instead investing in "winner states" like… pic.twitter.com/Jj6UfNh7TI
— Collin Rugg (@CollinRugg) February 19, 2024
You can watch the whole segment below:
Law professor Jonathan Turley has also opined on this topic in a new piece at the New York Post:
Democrats weaponized justice system to punish Trump in business case
Oscar Wilde wrote that “moderation is a fatal thing. Nothing succeeds like excess.” Justice Arthur Engoron took that line to heart with his absurd imposition of $455 million in fines and interest against Donald Trump and his corporation.
It succeeded wonderfully with New Yorkers, who celebrated the verdict like a popular public execution. It also worked wonderfully to make it difficult to appeal.
Much of the criticism of the decision focused on the unprecedented use of the law and the excessive size of the fine. The New York statute has been on the books for decades and has always been something of an anomaly in not requiring an actual victim or loss to justify disgorgement or fines.
Even the New York Times agreed that it could not find a single case in history where this statute was used against an individual or a company that did not commit a criminal offense, go bankrupt, or leave financial victims.
Engoron then combined that unprecedented application with an equally extraordinary penalty, which is greater than the gross national product of some countries.
He disgorged hundreds of millions in a case where not one dollar was lost by anyone. Indeed, the “victims” wanted to get more business from Trump and are now being prevented from doing so by Engoron.
Democrats are burning down New York to go after Trump, and in the end, it will hurt New York far more than it hurts Trump.
Featured image via YouTube.
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Comments
The focus of this should now be doing in the people behind it, there should be more like what Fat Fani Willis is getting. Cancelations on steroids.
This is a well-stated reason for blacklisting NY. I wish those around Trump would follow this MO…and no I’m not blaming him.
I’m just saying that these kinds of admonishments from multiple sources can be more effective messaging than one person being as loud as they can. Why? Because that one person can be polarizing on politics, race, gender, etc. and too easily allow cognitive dissonance to lead to willfull ignorance. A multi-headed message is not so polarizing.
Verbal admonishments will not convince anyone, it will take action and actual $$$ loss for NY to see the light,…same with that BS trucker boycott, all talk and no action
Mark, the two need not be mutually exclusive.
If Trump is guilty of some type of fraud then why didn’t she go after the banks who loaned Trump the money defrauding their shareholders their fiduciary duty to them?
NY will take the hit as a good return on investment. The billions they will lose will bring trillions of dollars in rewards to the Dem Party for turning the US into a one party country ruled by the Left. Marx and Lenin would be proud.
F’ around and find out, eh?
I wonder if Hochul and Mark Zuckerbot are related. 😉
I would not at all would be surprised to see many major businesses abandoning new york. I certainly would if I had business interests there. If you can get hit like that for engaging in the normal course of business, there’s no reason to be there
they are not gonna abandon NY, because it’s plain to see that this is about getting Trump, and only Trump, nothing more, nothing less
Until your next
Elon Musk would like a word on fake charges.
This is a mistake, and a very serious one. We have seen this kind of vicious injustice before.
https://encyclopedia.ushmm.org/content/en/article/martin-niemoeller-first-they-came-for-the-socialists
This week
Until the next guy comes along that pisses them off and then he go after him
Ah yes because pretending your apartment is 3 x its actual size is the normal course of business.
Accepted by the same banks that collapsed the US economy in 2008.
I believe it is. There is a series of videos by Louis Rossman about the vast overstatement of square footage of retail spaces available to rent. He has since given up on NY and moved his business to Austin, TX.
I’m not saying this makes Trump right to have done it but perhaps others would also get caught if someone want to destroy them.
Were you born stupid or do you have to work at it?
ALL RE developers value their properties high, and ALL banks countervalue. Banks have a whole host of appraisers, dingus.
Deutsche Bank, who Engoron said was “victimized,” called Trump a “whale of a client” and loved doing business with him.
The question you’re avoiding here (as avoidance is your forte) is, “where is the victim?”
Answer… there IS none.
“The New York statute has been on the books for decades and has always been something of an anomaly in not requiring an actual victim or loss to justify disgorgement or fines.”
TL;DR: This is exactly the kind of law written to punish Enemies of The State, and Trump qualified.
Yeah, that’s their loophole and from what I understand NO ONE has ever been prosecuted under this statute.
I also believe it is blatantly unconstitutional.
Yes stupid, he is drinking too much Dem Kool-Aid!
“Were you born stupid or do you have to work at it?” Projection isn’t an argument
“ALL RE developers value their properties high, and ALL banks countervalue.” we aren’t talking about valuations we are talking about the facts that’s the valuations are based on. Providing consistently incorrect facts from which those valuations are derived is fraud. no amount of hand waving changes this fact.
“Banks have a whole host of appraisers, dingus.” Which based there valuations on the facts provided by Trump etc. What they testified is that they took on board that the valuations provided by Trump etc were estimates not that the underlying facts were false. The extent of the due diligence was to evaluate the information provided as if it were an estimate as opposed to checking the facts underlying those estimates.
“The question you’re avoiding here (as avoidance is your forte) is, “where is the victim?”
The fact that the banks themselves wanted to chase risky business is irrelevant. Had they been fully informed they would have known that some of the assets were vastly over valued based not on estimates being exaggerated but falsehoods contained within the basic facts making up those estimates. Accordingly they may have decided that the interest rates could have been different. Further the statute in question doesn’t consider damages per se but rather disgorgements and functions in a manner similar to that of perjury laws. That is to say that it is in the public interest to deter and punish those who persistently lie on there accounts. This is exactly what’s happened here, Trump etc persistently lie on there accounts and that isn’t conducive to fair and equitable business. Allowing fraudsters to continue to commit fraud isnt a good thing.
It appears the entirety of your argument is that you don’t like that Trump etc are being held accountable. Personally I don’t like criminals who are allowed unfettered ability to commit crime. Of course I’m sure you hold the same standard to all parts of society, you wouldn’t want a failed bank robber to walk the streets just because there attempted bank robbery was so disastrous that they weren’t able to collect money.
Again you move you lips and sewage spills forth.
” we aren’t talking about valuations we are talking about the facts that’s the valuations are based on. Providing consistently incorrect facts from which those valuations are derived is fraud. no amount of hand waving changes this fact.”
In EVERY loan valuation. EVERY. The bank/lender gathers their own facts regardless of what the borrower says. EVERY case.. It is how this business works. EVERYWHERE ALL the time.
“The fact that the banks themselves wanted to chase risky business is irrelevant. Had they been fully informed they would have known that some of the assets were vastly over valued based n”
….blah blah blah. This is just a lengthy reiteration of what you said above.
And, as such, is just as stupid.
Borrower valuations, borrower measurements, borrower praising their own property IS NOT SIMPLY ACCEPTED AS FACT. Everything is measured, checked and double checked.
“It appears the entirety of your argument is that you”
…..have absolutely zero clue how sales–of any sort– work.
Every thing you’ve written reveals that you are an unabashed and very deliberate idiot.
There’s zero chance you believe this shit unless you are that dumb.
Banks don’t issue loans based on what people tell them and assume it is true. They issued these loans because those “facts” were irrelevant to the investment value of issuing the loan.
““Banks have a whole host of appraisers, dingus.” Which based there valuations on the facts provided by Trump etc.”
Oh, horseshit.
I just changed insurance carriers. They asked me a bunch of things about the property and buildings, but they didn’t automatically take my word for any of it. They actually inspected property records on the statehouse computer system, then sent people out to physically inspect things and actually measure shit. And I’m small potatoes.
@azathoth
1. Banks gather there own facts. Nope. They rely on agents to do this, in context of where I work they evaluate the information provided and as long as its by a trusted party they rarely question it. I know this because I provide reports to Banks on issues related to this (not valuations but condition and legal issues)
It was testimonial in the court case that the banks used Trumps statements, tell me where they said ooh it doesn’t matter our own due diligence specifically rectified the fact based issues. I’ll give a hint they didn’t.
@henry bowman
Your Jo bloggs sorry to break it to you
You are soooo happy about this fuckery, all because you hate Trump. But at some point, you are going to get a fist sized lawsuit jammed up your keister when you or someone you or someone you know does something against the communist regime running the joint now.
I hope you get screwed royally asshat.
word.
I seriously doubt this person owns any assets of worth.
Or that his fellow Marxists would single him out for persecution.
As a matter of fact, they tend to use the exterior dimensions of a space rather than in the interior to calculate square footage. And sometimes there’s a lot of dead space in all of that too so that’s not an unrealistic expectation at all. The person looking to buy is supposed to calculate that for themselves, don’t take the seller’s word for it. Have you never been near real estate?
“they tend to use the exterior dimensions of a space rather than in the interior to calculate square footage.”
That would not equate to a 3 fold increase in area, and it would be noted on the calculation which would be clear. I’m not sure whether a particular standard was used in Trumps case but international standards used tend to be IPMS 2 – Retail. This document give s precise definitions of what should or should not be measured. In the case of external vs internal areas id expect differences within 10’s of percent at most not 100’s of percent differences.
Additionally id point out that the bank would know whether its internal vs external and factor in accordingly. The issue here is wholesale and manifest fraudulent figures used. not some minor adjustment.
“And sometimes there’s a lot of dead space in all of that too so that’s not an unrealistic expectation at al” Dead space to be considered would be lift shafts, areas where the head height is less than 1.5m (as its unusable), voids. This is all well known and understood by those doing the valuations. This, again, does not equate to 3 fold increases in area.
“The person looking to buy is supposed to calculate that for themselves, don’t take the seller’s word for it.” Sellers agents often provide information to prospective lenders, its actually pretty rare in my experience for lenders to check basic facts like areas. They assume the parties involved are professionals and not fraudsters. This is after all a big brand client we are talking about not Jo Bloggs. In this particular case despite being a big brand client they deemed it necessary to have Trumps personal guarantee.
“Have you never been near real estate?” Yes in context of building survey reports prospective purchasers. I don’t get involved in the valuations per se but I do with respect to measurement, condition, and legal issues that might be pertinent.
“Yes in context of building survey reports prospective purchasers”
Are you claiming to be an appraiser here?
@azathoth
I was very clear that I am not an appraiser. That terminology isn’t what I use where I work. My role is to report on condition, legal issues that are relevant and to some extent to estimate costs of remedial works that affect valuation with respect to condition. Valuations are a more specific discipline, I have colleagues who deal with that side of things. Banks don’t use there own valuations they get 3rd parties to do that.
“My role is to report on condition, legal issues that are relevant and to some extent to estimate costs of remedial works that affect valuation with respect to condition. Valuations are a more specific discipline”
And do you simply accept the statements of owners?
“Banks don’t use there own valuations they get 3rd parties to do that.”
Yes, they hire people to VERIFY if what the borrower/seller has put forth is true.
Which you claim to not just be aware of, but be involved in.
Which makes your stance bizarre in the extreme.
@azathoth
“Yes, they hire people to VERIFY if what the borrower/seller has put forth is true.”
Errr no the valuers don’t go around measuring properties if they already have measurements its a massive waste of time if that information already exists. Basic facts like this property is size x don’t change as opposed to market conditions, and property condition which do. Property sales and lending decisions are slow as it is let alone if a valuation had to assume that the other party is deliberately presenting false information. I’m sorry you are just wrong, its not how it works.
Id suggest reading this Forbes article. It notes that the banks own credit report on the property clearly got details about the property wrong.
https://www.forbes.com/sites/danalexander/2023/10/16/how-trump-fooled-deutsche-bank/?sh=32951028cc0d
Puh-lease … you are a moron.
An apartment at Trump Tower is for sale – the entire 21st floor. it is 14,000+ sq. ft. Trump has the entirety of the top THREE floors for his apartment. He likely just put up the square footage of the three floors, rather than just the apartment living space … since he owns all three floors. Maybe he cut floors away for double height sections and didn’t take that square footage away … in any case, you are a complete moron if you think that floors int he Trump Tower are only 10,000 square feet each. Just look up the designs of the building, FFS.
Here’s an old listing I mentioned above:
That’s just one floor. Trump has three.
My mistake. He doesn’t have the entirety of the top three floors, but most of them. It appears that there is one other person living in an apartment that is on part of two of the floors.
Why should I care about the measurements of the 21st floor when Trumps Triplex apartment is on the 56th, 57th and 58th floors?
Weisselberg admitted in court that the measurements were wrong, indeed the original 1994 measurements were stated at circa 11,000 sqft. Not even Trumps own lawyers contested that the measurements were vastly inflated.
Do you think the building is so oddly shaped that one apt on the 21st is larger than the majority of the floors above it?
@healthguyfsu
Trump tower does indeed have an odd shape, google maps makes this point abundantly clear how much of a difference there is in footprint between the lower floors and the upper floors
“Ah yes because pretending your apartment is 3 x its actual size is the normal course of business.”
Yes.
It is.
It’s why you see fisheye lenses on real estate walkthroughs.
It’s also why lenders employ appraisers. People who go in and measure and verify.
It doesn’t matter what the seller/owner/borrower says. The lender verifies FOR THEMSELVES.
If you were unaware of that extremely basic fact you have no understanding at all of the issue.
Please cease commenting on things you do not understand.
No it isn’t I’m sorry that you don’t understand how these things work in the real world.
“It doesn’t matter what the seller/owner/borrower says. The lender verifies FOR THEMSELVES.”
I’ve done a lot of Building survey reports, dilapidation reports, pre lease survey reports, and technical due diligence reports. In this case the type of report id be asked to produce would be governed by the RICS Technical Due Diligence of Commercial Property 1st Edition. It simply doesn’t require the checking of areas only approximate consideration of them. I would only consider checking the areas if my client specifically said either a) there are no or limited drawings which does occasionally happen for building I specialise in or b) the client said actually we don’t trust the owner of the property at all which has never happened in my experience. This would equally apply to property valuations who are interested in assessing values of the components that make up an asset and the market rate not whether the other party has made stuff up with respect to areas.
Look who is pretending?
SC needs to step into this ASAP
“There are many loser states because of policy, high taxes, uncompetitive regulation,” Poor man, apparently because NY wants to convict fraudsters that’s put him of, such as shame
Then why is Al Sharpton still walking around taking money from poor deluded progressives and not paying his taxes, whilst he gets invites to the White House under every Democrat because THEY have to KISS HIS RING before they get the okay to run for office???
Al is black.
They kiss more than his ring, he is a little dweeb con artist.
Its not clear to me whattaboutism is a defence of the crimes of those who are caught.
Its also the case that All Sharpton had liens placed on his property ands is effectively being forced to pay taxes back. Which is fair enough if he owes that in tax. Likewise Trump is being forced to pay subject to appeal.
The scale is breathtaking as is your excuse.
As I understand it Al Sharptons tax dodging was measured in millions not the hundreds of millions of fraud that Trump has been found liable for. So your wrong both in respect to the nature of the offence and the scale
Interesting how only some fraud, glommed on by TDS cultists, is all that matters. TDS is a sad thing.
Sorry…meant to upvote you!!
There is this thing called evidence and due process. If someone advertisers how fraudulent they are expect to have a lawsuit.
Trump derangement syndrome, where Trump supporters sell all there values to the devil so they can get there man into power. Sad.
Let them release more illegal alien cop beaters, and see how they ends up.
I wouldn’t be a cop in NYC for any amount of money. You know that when you need backup, you will be all alone.
Where was the fraud, dingus?
Who was defrauded, and what was the dollar value of the fraud perpetrated?
Please be specific.
BarkE is a dumbass who shits on the carpet every chance he gets.
Ole Bart is an insult to dumbasses.
Like any dog, what he needs is to have his nose rubbed in that shit.
You owe me an apology. I nearly spit out my food all over my tablet.
My therapist told me to tell you Go Fuck Yourself.
We have a breakthrough!
“My therapist told me to tell you Go Fuck Yourself.”
Snowflake
Snowflake.
Far from it butter cup.
Now excuse me, I need to go back to giving your momma what your daddy was never good at.
I want Letitia to reign in the black NYC businesses that keep tons of cash on hand and follow shady bookkeeping practices. Fani says is a black thing we don’t understand but it sure appears as hiding money from the IRS.
Blacks (except conservative blacks) are exempt from all laws because whites believe they are too stupid to follow laws, or it’s a “black thing!”
I wonder if having a “White thing” is racist.
NY Dems have nothing to fear. The Fed printing machines will keep them afloat in fiat money. As for leaving NY and NYC… where to.? The Dems have the full faith and trust of the Deep State (for now) and will impose their will on the nation. Total absolute uncontested power. What would break their power… short of a nuclear exchange… hard to say.
But Trump did not commit fraud. If he had they would have charged a criminal offense. You can go to the bank and borrow money against a property and tell the bank whatever you want as far as its worth. If the bank thinks you are overstating they will ask an appraiser to come out and they will tell you No you cannot borrow that much on that property. Same with insurance and state and local tax departments. They all have appraisers that check to see if your statements about the value of the property are correct. None of them raised a flag in this case. Trump was making the payments he was required to make to all of them so they were happy and in fact the banks and insurance wanted to do more business with him. So where exactly was the fraud BartE? This is why other businesses are scared. I can tell you here in Tx my home’s market value, insured value, and taxed value are all different. And I had nothing to do with it that is all county and insurance appraisers and comparable sales in my neighborhood.
Not only did he NOT commit fraud, but there wasn’t even a complaining witness. IOW, there was no one who stepped forward and alleged Trump defrauded them. It’s CRAZY this lawsuit was allowed to move forward, based on a statute that is 100-years that has never been used in this manner. As I said, it’s crazy.
The fraud was committed by Letitia James.
“So where exactly was the fraud BartE?” Telling lies on your financial disclosures to inflate net worth means that the risk associated with a loan is artificially diminished. this would affect a) the interest rates afforded, potentially b) the types of guarantees required and potentially c) whether the loan is given at all. Further if Trump fraudulently inflated valuations to one party and deflated to the government its a clear indication of tax fraud.
“If the bank thinks you are overstating they will ask an appraiser to come out and they will tell you No you cannot borrow that much on that property” how precisely are they supposed to think something is overstated when the basic facts are fraudulent. Do you even understand what’s meant by fraud!?
Again, are you attempting to suggest you’re an appraiser?
With idiot comments like these?
How many times do you have to have someone tell you —
THE LENDER CHECKS ALL THESE THINGS THEMSELF, INDEPENDENTLY.
before it penetrates to that lone sickly brain cell that animates you?
Perhaps he’s indicating to us that he’s an incompetent appraiser.
“THE LENDER CHECKS ALL THESE THINGS THEMSELF, INDEPENDENTLY”
No they don’t lol, you repeating the same thing doesn’t make it any more true buddy. This is objectively the case, the bank even got the number of floors wrong on the credit report on Trump Tower. You’re just wrong, sorry.
I don’t see what the fuss is about.. he only has to put up 10%.
/s
According to what I have read, he needs to bond $450 million before he can submit an appeal.
But I guess it’s OK if he needs only 10%. Since he’s white he doesn’t have $45 million in cash on hand, cause that’s a BLACK THANG!!’”
He’ll have to do what other white people do. Liquidate some assets as distress prices.
“”Liquidate some assets as distress prices.””
And as some have argued, he can’t even do that in NY, because he’s been barred from doing business there for 3 years.
No, he hasn’t. He’s been barred from being a director of a NY corporation.
As far as I know no judge has the authority to bar a person from engaging in commerce, in NY or any other state.
Milhouse… since The Law in NY is being upheld, have you thought of joining the Dem Party as a prosecutor?
Huh?! That comment makes no sense at all.
Do you dispute anything I wrote?!
Milhouse doesn’t have to ‘join’ the Democrats.
He is one.
What a damn liar you are. First you say you are a Democrat in one post, then deny it a week later with your pretend indignation, then you lie about the verdict handed down.
From LI not long ago:
*******
Engoron found Trump liable for $350 million and barred him from conducting business for three years:
Former President Donald Trump was barred from operating his business in New York for three years and was found liable for more than $350 million in damages in the civil fraud case brought against him, his family and the Trump Organization by New York Attorney General Letitia James.
New York Judge Arthur Engoron handed down his ruling Friday after a months-long trial beginning in October and stemming from James’ lawsuit alleging the former president inflated his asseta and committed fraud.
Engoron also barred Donald Trump Jr. and Eric Trump from serving as an officer or director of any New York corporation or legal entity in New York for two years.
You should hide your face in shame and never post here again.
*********
Credibility: NONE.
I did look that up.. and I did include a sarcasm tag. SMH…
I also donated fwiw to his gofundme.
Here.
https://www.gofundme.com/f/stand-with-trump-raise-the-settlement
Expect a refund. Gofund me explicitly don’t allow go fund me’s for legal penalties.
Just one more proof that you just pull “facts” out of your ass instead of doing the homework.
I’ve just checked the T&C’s its actually legal defences rather than penalties so to say I was incorrect.
Its funny that you make such a sweeping statement though, I don’t recall anywhere else you or anyone else has demonstrated that I’ve been wrong on any other point.
You emit sterilizing levels of gaslight.
Hint. When a state extends its long expired limitations statute so that a particular case might be brought, don’t go there.
Kinda like a bill of attainder?
Where is this nonsense coming from? I’ve seen several people make this claim, but it’s not true at all.
In the Jean Carroll ‘sex assault’ claim case where NY in effect wiped out the statute of limitations under the Adult Survivors Act to bring a civil case. There wasn’t any extension on this one that I know of.
1. Indeed there wasn’t.
2. It’s not true in the Carroll case either. The extension was not made with Trump in mind, was not tailored in any way to target Trump, and it’s complete nonsense to suggest that Carroll was the only person to take advantage of it!
Some NY State towns may be in a novel situation based on the novel ruling, For example a house with a property tax assessed value of $84,000 on the market for $425,000.
And they can arbitrarily say it is now assessed at $350K or worse, and apparently, make it retroactive. Who is to say they can’t muck around with the mill rate as they please when they need more cash, say, for illegal alien housing?
There’s no fool like a Marxist fool.
Kathy and Letitia are about to learn…
Convictions have consequences.
“Persecutions have consequences.”
FIFY
Well, I meant “convictions” as in “convicted,” not as in “convinced.”
A Democrat state/city is a loser city. End of story.
When they have selective persecutions like this, when what Pres. Trump is alleged to have done is common practice (see O’Leary), you know that the law is being used and abused. How does anyone know if they will be next on the sacrificial altar to Marxism? How do they know they won’t be affected by some arbitrary and capricious legislation retroactively and unfairly applied by the legislators of NYC? See: fake rape accusation against Pres. Trump.
Let the NY lefties eat their stratospheric rents and taxes. They asked for it, they got it. I avoid the state like the plague; if I have to go through the state, I take Rte. 84 to Interstate 81, avoiding any and all of NYC, and its tolls and taxes. I can’t even smell NYC from there.
Californica is no better, and states like Washington and Oregon are following in their crooked footsteps. When it all crashes around them, they will be at our doorstep with their hands out.
This was a very dumb ass idea but NY d/prog couldn’t help themselves. Now every real estate business in NY is wondering if/when they are next. Overvalued real estate is the norm not the exception. That’s why lenders usually want an independent appraisal. This extends to all sorts of businesses not just want we consider to be pure real estate. McDonald’s and other franchises are in many ways focused on their real estate value. The message seems to be if you are on the ‘right’ side of the political divide then you are safe, heck that’s what Hochul told us at her press conference if you can read between the lines. Those who refuse the reality of this are in for a big shock when the hammer falls on their head.
That’s gonna put a hefty burden on the real estate market just as NYC needs to build more free housing for the millions of military aged invaders they have imported.
My suggestion, let the military aged invaders I’ve in tents under bridges and eats insects.
Oh, it’s worse than that.
This puts a risk burden on every kind of transaction with a valuation. Cars, trucks and boats. But also selling businesses, inventory, sale and purchase contracts that extend over time, patents n other IP, factoring and any other kind of secured finance. Insurance and reinsurance.
If they decide they don’t like you, you valued it wrong, then they can clip you for literally anything they want to take or do to you.
Activist governments don’t seem to be able to grok how the risk of their unpredictable — er — activism, is a risk cost on doing literally anything where they can reach.
Yep. Anytime a gov’t actor is essentially saying ‘trust us, this won’t impact you’ grab hold of your wallet.
Did you see Hochel’s take?
“Not to worry, because you know, the Bad Orange Man is special. We’d never do this to you right-thinking folks who stay inside the lines.”
Out loud with no clue that doesn’t make it better. Every time I think she’s hit bottom, she finds a way to go further. Pretty committed and creative, that one.
Income Tax: Only the wealthiest 2% will ever pay it.
Social Security: The number will never be used as a universal ID.
Gun Control: We’re only targeting concealable guns—handguns.
Affirmative Action: 25 years should be plenty.
Seat Belts: Pretextually pulling you over saved your life.
There are other things so clearly out of the power of Congress, that the bare recital of them is sufficient, I mean the “…rights of bearing arms for defence, or for killing game…” These things seem to have been inserted among their objections, merely to induce the ignorant to believe that Congress would have a power over such objects and to infer from their being refused a place in the Constitution, their intention to exercise that power to the oppression of the people.
–ALEXANDER WHITE (1787)
Commo, I am not sure if you know this but its a well known fact the Mickey D’s business model is not as a hamburger company. Its a real-estate leasing company and supply chain that just happens to lease to franchises that makes hamburgers
Yep, which was my point.
When you repeatedly lie to the U.S. government, there are consequences. Most of us learned this in high school civics class. Trump never learned this.
When you are a dumbass, keep your mouth shut so others don’t know.
JR can’t help himself.
What lie did Trump tell to the “U.S. government” in this particular case, dingus?
Please be specific.
And imma guess you never even graduated from high school.
I’d think you should take Chief’s suggestion below to heart.
Then Joe Biden and Hillary should have been in prison decades ago.
Obey the State. Conform to the will of the government in all things, lest you suffer… consequences.
With no victim and no complainant Latinxea James would really be hard-pressed to explain exactly how this charge arose. The only alleged “victims” testified for the defense.
It is painfully clear that this case could only have arisen as part of an un-Constitutional fishing expedition and the worst sort of abuse of governmental power. James and her office and the judge and his assistant and everyone involved int his case needs to go to prison – to do hard time. And that goes up to all in the White House who were behind this, up to and including Traitor Joe (his 342nd impeachable offense and criminal action).
Did you see some of the “officials” now pushing back on “this is how people do business?”
Net: “Well, then they shouldn’t do it that way; this is a good start.”
Next they’ll be selling “valuation prosecution insurance” in the form of govt licensed or bonded valuations for any kind of transaction — it’s worth what we say it is. Along with the flow of fees, gives them another lever to stifle people doing things they don’t like on the D-L: slow-roll the valuation, or under-value like $18 million for Mar-a-Lago.
We’ve all seen the special NY fine law declaring you can’t appeal without first posting bond for the contested amount, plus interest declared by the declarer of the fine.
Looks to me like NY knows it can’t get a wealth tax passed to fill the giant hole in it’s budget the Dems created so are just going to resort to lawfare and seize peoples money.
Real estate developers that operate in NY are taking a deep breath and asking themselves if bankruptcy for crossing the politicians is a thing they wish to risk. I sure wouldn’t because sooner or later some vengefull DA will feel slighted by something you did and go after you with the full power of state government and crooked judges.
This guy can’t even get his wife to control her cow.
I was wondering how this will impact developers across the board. For example, is anyone going to go after Micron for buying property at substantially lower than the assessed or market value. They are using it for leverage to get loans to build at much higher values than the assessed or market value rates. They are doing the same thing Trump and all others had done forever.