The Making of Donald Trump (26 page)

Read The Making of Donald Trump Online

Authors: David Cay Johnston

Tags: #Comedy

4
They lacked facemasks, even though asbestos—known to cause incurable cancers—swirled all around them:
Selwyn Raab, “After 15 Years in Court, Workers’ Lawsuit Against Trump Faces Yet Another Delay.”
New York Times
, June 14, 1998.

5
Trump kept an eye on the project, not just when visiting the site:
Dunstan Prial, “Before Running for President, Donald Trump’s First Gamble Was Building Trump Tower.”
Hollywood Reporter
, April 6, 2016. Accessed June 8, 2016.
www.​hollywo​odreporter.​com/​features/​before-​running-​president-​donald-​trumps-​880084
.

6
The demolition workers were not American citizens:
Michael Daly, “Trump Tower Was Built on Undocumented Immigrants’ Backs.”
Daily Beast
, August 7, 2015. Accessed June 10, 2016.
www.​thedailybeast.​com/​articles/​2015/07/​08/trump-​tower-​was-​built-on-​undocumented-​immigrants-​backs.​html
.

7
Many members of the demolition crew, which became known as the Polish Brigade:
Constance L. Hayes, “Judge Says Trump Tower Builders Cheated Union on Pension Funds.”

8
sleeping through the bitter cold on bare concrete floors:
Daly, “Trump Tower Was Built on Undocumented Immigrants’ Backs.”

9
“Donald told me he was having some difficulties,” Sullivan later testified:
David Cay Johnston, “Just What Were Donald Trump’s Ties to the Mob.”
Politico
.

10
“Men were stripping electric wires with their bare hands,” Sullivan later tesified:
Trump: What’s the Deal
? Directed by Libby Handross.
trumpthemovie.​com
.

11
Shortly after Trump called Sullivan, a new demolition crew arrived on the site:
Selwyn Raab, “After 15 Years in Court, Workers’ Lawsuit Against Trump Faces Yet Another Delay.”

12
One day, to keep the workers swinging their sledgehammers:
Hardy v. Kaszycki & Sons Contractors, Inc.

13
After the building was taken down, a dissident member of the Housewreckers Union:
Raab, “After 15 Years in Court, Workers’ Lawsuit Against Trump Faces Yet Another Delay.”

14
Judge Stewart, in a lengthy opinion, found that Trump’s testimony lacks credibility:
Hayes, “Judge Says Trump Tower Builders Cheated Union on Pension Funds.”

15
Judge Stewart ruled that Trump had engaged in a conspiracy to cheat the workers of their pay:
Wayne Barrett,
Trump: The Deals and the Downfall
, p. 192.

16
There was no litigation over the destruction of the bas-relief façades:
Robert D. McFadden, “Developer Scraps Bonwit Sculptures.”
New York Times
, June 6, 1980.

17
Trump spoke up days later, saying safety concerns were his real worry:
Robert D. McFadden, “Builder Says Costs Forced Scrapping of Bonwit Art; Three-Week Delay.”
New York Times
, June 9, 1980.

CHAPTER 10. FEELINGS AND NET WORTH

1
In 1990, when his business empire was on the verge of collapse:
David Cay Johnston, “Bankers Say Trump May Be Worth Less Than Zero.”
Philadelphia Inquirer
, August 16, 1990.
articles.​philly.​com/​1990-​08-16/​news/​25932770_1_​donald-​trump-​trump-​assets-​trump-​princess
.

2
Just how does Trump arrive at these fluctuating figures?:
Peter S. Goodman, “Trump Suit Claiming Defamation Is Dismissed.”
New York Times
, July 15, 2009.

3
“I would say it’s my general attitude at the time that the question may be asked”:
Trump vs. Timothy L. O’Brien, et al. No. CAM-L-545-06. Superior Court of New Jersey.

4
“I asked the client to provide me with a list of liabilities”:
Donald Trump v. Timothy L. O’Brien Superior Court of New Jersey, Appellate Division Docket NO. A-6141-08T3 Decided 9/7/2001.

5
Trump said he paid cash for the property, which he described as run-down:
Donald Trump and Tony Schwartz,
Trump: The Art of the Deal
(New York: Ballantine, 2015), p. 26.

6
In December 1985, Trump had written to Janet VB Pena:
Donald J. Trump to Janet VB Pena, Chase Manhattan Bank. December 9, 1985. New York, New York.

7
The bank loaned Trump $2 million more than the purchase price:
Chase Manhattan Bank to Donald J. Trump. November 26, 1985. New York, New York.

8
He boasted that he got Mar-a-Lagofor a song:
Trump and Schwartz,
Trump: The Art of the Deal
, p. 26.

CHAPTER 11. GOVERNMENT RESCUES TRUMP

1
His recorded cash flow averaged $1.6 million per week for 233 weeks:
David Cay Johnston,
Temples of Chance: How America Inc. Bought out Murder Inc. to Win Control of the Casino Business
(New York: Doubleday, 1992), p. 231.

2
How could a man who had convinced the world he was a multibillionaire fail to pay contractors:
David Cay Johnston, “Donald Trump’s Bankruptcy Dodge: This Is How Lawyers and Regulators Helped Him Fudge Solvency and Avoid Collapse.”
Salon
, April 30, 2016.
www.​salon.​com/​2016/​04/30/​donald_​trumps_​bankruptcy_​dodge_​this_is_how_​lawyers_​and_​regulators_​helped_​him_fudge_​solvency_​and_avoid_​collapse/
.

3
Trump’s inability to pay his debts had put him at risk:
David Cay Johnston,
Temples of Chance: How America Inc. Bought out Murder Inc. to Win Control of the Casino Business
. Pg 233

4
At the time, Trump told me and everybody else that he was worth $3 billion:
David Cay Johnston, “The Art
of the Inside Deal.”
Washington Spectator
, April 25, 2016.
washing​tonspectator.​org/​trump-​finance-​regulators/
.

5
A few weeks later, I got my hands on Trump’s personal financial statement:
David Cay Johnston, “Bankers Say Trump May Be Worth Less Than Zero.”
Philadelphia Inquirer
, August 16, 1990.

6
Soon after that news story, casino regulators publicized a document:
Johnston,
Temples of Chance: How America Inc. Bought out Murder Inc. to Win Control of the Casino Business
, p. 232.

7
Trump’s obvious difficulty complying with the financial stability requirements:
Johnston,
Temples of Chance: How America Inc. Bought out Murder Inc. to Win Control of the Casino Business
, pp. 231 and 234.

8
But Trump’s unpaid bills and the presence of all those bankers in Trump Tower:
David Cay Johnston, “The Art of the Inside Deal.”

9
The seventy banks whose massive loans were about to sour insisted that Trump install a man:
Steven F. Bollenbach: Johnston,
Temples of Chance: How America Inc. Bought out Murder Inc. to Win Control of the Casino Business
, p. 230.

10
“You may well be worth more than Donald Trump”:
Johnston, “Bankers Say Trump May Be Worth Less Than Zero.”

11
Instead, the Casino Control Commision listened to a less than vigorous challenge:
Johnston,
Temples of Chance: How America Inc. Bought out Murder Inc. to Win Control of the Casino Business
, p. 232.

12
The DGE prepared its own 111-page report:
Johnston,
Temples of Chance: How America Inc. Bought out Murder Inc. to Win Control of the Casino Business
, p. 231.

13
Part of the deal was putting Trump on an allowance:
Kurt Eichenwald, “Quick: Who’d Have Trouble Living on $450,000 a Month?”
New York Times
, June 26, 1990.

14
“Trump Empire Could Tumble Today, Casino Panel Told”:
David Cay Johnston, “Trump Empire Could Tumble Today, Casino Panel Told.”
Philadelphia Inquirer
, August 17, 1990.

15
In the spring of 2016, Trump told CNBC:
Binyamin Appelbaum, “Donald Trump’s Idea to Cut National Debt: Get Creditors to Accept Less.”
CNBC.​COM
. May 6, 2016.
www.​cnbc.​com/​2016/​05/06/​donald-​trumps-​idea-to-​cut-national-​debt-get-​creditors-​to-accept-​less.​html
.

CHAPTER 12. GOLF AND TAXES

1
Of Trump’s fifteen golf courses:
Michael Bamberger, “Donald Trump Details His Golfing Ambitions, Dust-ups with Jack Nicklaus, the USGA and Golf Digest.”
Golf.​com
, August 19, 2011.

2
Among Trump’s top-valued properties is the Trump National Golf Club Westchester:
Trump National Golf Club Westchester. June 7, 2016.
www.​trumpn​ational​westchester.​com/​Default.​aspx?p=dynami​cmodule&page​id=100119&ssid=100132&vnf=1
.

3
Bill Clinton, who owns a home six miles away, is among those who have paid the club’s initiation fee:
Shawn Tully, “Trump Once Said Some Amazing Things
About His Net Worth Under Oath.”
Forbes
, March 3, 2016.

4
While Trump declared (also under oath) that more than $50 million:
David Cay Johnston, “Donald Trump’s Worthless Real Estate Math.”
Daily Beast
, May 24, 2016.
www.​thedail​ybeast.​com/​articles/​2016/​05/24/donald-​trump-​s-worthless-​real-​estate-​math.​html
.

5
The difference between what Trump swore in his Federal Election Commission filings:
Mathew Mosk, Brian Ross, and Randy Kreider, “Trump Team Revises Golf Course Value Amid Tax Controversy.”
abcnews.​Go.​com
. May 16, 2016.
abcnews.​go.​com/​Politics/​trump-​team-​revises-​golf-​amid-​tax-​controversy/​story?id=​39155939
.

6
Trump’s appeal annoyed the locals:
David McKay Wilson, “Trump Seeks 90% Tax Cut at New York Golf Club.”
USA Today
, September 3, 2015.

7
According to court documents filed by Briarcliff Manor:
David McKay Wilson, “Trump at War with Briarcliff Manor Over $238k Flood Bill.”
Lohud.​com
, September 11, 2015.
www.​lohud.​com/​story/money/​personal-​finance/​taxes/​david-​mckay-​wilson/​2015/09/​10/trump-​war-briarcliff-​manor-​over-​238k-flood-​damage-​bill/​71950004/
.

8
In the rolling open hills of Bedminster, New Jersey:
Walter O’Brien, “Donald Trump Loves NYC, But Will Spend Eternity in Bedminster.”
Nj.​com
. September 26, 2013.
www.​nj.​com/​somerset/​index.​ssf/2013/​09/donald_​trump_​may_love_​new_york_​but_hell_​spend_​eternity_​in_​bedminster.​html
.

9
For property tax purposes, assessors make separate determinations of value:
Jon Swaine, “How Trump’s $50m Golf Club Became $1.4m When It Came Time to Pay Tax.”
Guardian
, March 12, 2016.
www.​theguardian.​com/​us-​news/​2016/​mar/​12/​donald-​trump-​briarcliff-​manor-​golf-​course-​tax
.

10
The property tax in 2015 was just under $440,000:
Richard Rubin, “Goat Herd Helps Trump Lower Tax Bite.” Wall
Street Journal
, April 20, 2016.

11
The Trump National Golf Club Los Angeles:
Gene Maddaus, “Donald Trump’s Palos Verdes Golf Course Has Holes in It.”
Variety
, June 9, 2016.

12
Trump gained property tax and income tax breaks on the Palos Verdes property:
Gene Maddaus, “Donald Trump’s Palos Verdes Golf Course Has Holes in It.”

13
Trump tried to develop the land anyway, only to be told no:
Victoria Kim, “Trump Sues City for $100 Million.”
Los Angeles Times
, December 20, 2008.

14
Showing his relish for litigation:
Victoria Kim, “Trump Sues City for $100 Million.”

15
On Trump’s behalf, Alderman Burke won tax discounts:
Tim Novak and Chris Fusco, “Watchdogs: The Donald & the Democrat; Burke Saved Trump $11.7 Million.”
Chicago Sun-Times
, April 30, 2016.

16
Kelly Keeling Hahn, a lawyer at Alderman Burke’s firm:
Novak Fusco, “Watchdogs: The Donald & the Democrat; Burke Saved Trump $11. 7 Million.”

CHAPTER 13. INCOME TAXES

1
Mitnick has testified that he is “thoroughly familiar” with every aspect of Trump’s finances:
State of New York Division of Tax Appeals. In the Matter of the Petition of East 61st Street Company. Determination DTA NO. 811470

2
In
The Art of the Deal
,
Trump recounts a typical conversation with Mitnick:
Donald Trump and Tony Schwartz,
Trump: The Art of the Deal
(New York: Ballantine Books, 2015), p. 14.

3
Trump had done well following his accountant’s advice:
Chris Good and Ryan Struyk, “Donald Trump Twice Paid No Federal Taxes, Government Report Shows.” ABC News, May 20, 2016.
abcnews.​go.​com/​Politics/​donald-​trump-​paid-​federal-​taxes-​government-​report-​shows/​story?id=39259669
.

4
Trump’s 1978 tax return reported a negative income of $406,379:
Associated Press. “Here’s What Might Be Hiding in Donald Trump’s Tax Returns.” Fortune, May 12, 2016.

5
Trump’s federal tax return included a Schedule C:
David Cay Johnston, “New Evidence Donald Trump Didn’t Pay Taxes.”
Daily Beast
, June 15, 2016.
www.​thedaily​beast.​com/​articles/​2016/​06/15/​new-​evidence-​donald-​trump-​didn-​t-pay-​taxes.​html
.

Other books

Driving Force by Andrews, Jo
In Too Deep by Grant, D C
Center of Gravity by Ian Douglas
Double Talk by Patrick Warner
Crime is Murder by Nielsen, Helen
Boardwalk Bust by Franklin W. Dixon
The Summer House by Jean Stone