New York City is severing its multimillion-dollar contracts with...

  1. 24,951 Posts.
    New York City is severing its multimillion-dollar contracts with the Trump Organization after President Donald Trump's involvement in last week's rioting on Capitol Hill, Mayor Bill de Blasio announced Wednesday on MSNBC.

    https://www.nbcnews.com/business/business-news/nyc-axes-all-contracts-trump-business-backlash-snowballs-n1254103

    without a contract - how much would these businesses be worth??
    ok - if the properties are owned - then there is at least the land value .

    the contracts are being broken on the basis of..

    “The contracts make very clear that if the company and the leadership of that company is engaged in illegal activity, we have a right to sever the contract,” de Blasio told MSNBC. “Inciting an insurrection against the United States government clearly constitutes criminal activity.”

    on the other hand and comment from eric trump :-

    "The City of New York has no legal right to end our contracts and if they elect to proceed, they will owe The Trump Organization over $30 million dollars. This is nothing more than political discrimination, an attempt to infringe on the first amendment and we plan to fight vigorously.

    who knows - maybe the relevant properties are held as security for trump loans .. a fire sale would get nowhere near what they might get on the basis of "a going concern"



 
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.