NBC News reports: Donald Trump’s presidency is bad for business — his own. Unless his business is getting presidential business.
Conflict of interest concerns over the mix of presidential politics and his personal businesses have followed Trump ever since he announced his candidacy after gliding down the escalator of his namesake tower. And it’s been difficult for the public to get a clear view of the extent to which the two worlds have become blended. Even the former White House ethics director, who resigned in July, noted, “There’s an appearance that the businesses are profiting from his occupying the presidency. And appearance matters as much as reality.”
A larger picture of that reality is now emerging, thanks to data gleaned from government reports, potential business partners and, most recently, newly released financial data from the U.K. – which, unlike the U.S., mandates that most private companies must publicly release its annual financial reports.
While some of the Trump brands show signs of duress, a select few — where politics and business are most thickly stirred — are seeing their revenue soar.
Last week’s release of 2016 financial reports for Trump’s luxury golf courses in Scotland offer a rare, detailed look at the Trump operation’s financial health. The iconic Turnberry resort, which he famously visited in the middle of the Brexit referendum, saw losses that doubled to $23 million in 2016 and revenue that fell by 16 percent, according to the documents.