The Trump Organization runs three concessions in New York City: the Central Park Carousel, the Wollman and Lasker skating rinks in Central Park, and the Ferry Point Golf Course. They brought in a reported $17 million last year.
City corporation Counsel James Johnson said in a statement, “In light of last week’s attack on our Capitol and our democracy, we have concluded that it is in the best interests of New Yorkers for the City to commence the process of cancelling these contracts and terminating its business ties with the Trump Organization.” Cancellation of the various concessions will take several weeks to several months.
And the Trump brand, premised on gold-plated luxury and a super-affluent clientele, may not fully recover from the fallout of his supporters violently storming and vandalizing the U.S. Capitol, hospitality analysts say and some people close to the business acknowledge. Other companies linked with the Trumps, including Deutsche Bank, the presidents largest lender, and Signature Bank, are also seeking distance from him and his business.
Trump brand being hit where it hurts â in the wallet
The President s golf club has been denied a PGA tournament, companies are withdrawing support, schools have stripped him of honorary degrees and affiliated firms are feeling the heat from doing business with him.
Packing it up. After last week s storming of the Capitol building many institutions and companies are beginning to wash their hands of Donald Trump s businesses.Â
AP
Jan 12, 2021 â 3.04pm
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In the span of four days, President Donald Trump s family business has lost its online store, the buzz from Trump s promotional tweets about its luxury resorts and bragging rights as host to one of the world s most prestigious golf tournaments.
Deutsche Bank, Signature Bank cut ties with President Trump
Michael Probst/AP
FILE â In this Oct. 4, 2020, file photo, the moon shines next to the headquarters of the Deutsche Bank in Frankfurt, Germany. On Tuesday, Jan. 12, 2021, according to CNN Business, Deutsche Bank has decided not to do any future business with Trump and his company. (AP Photo/Michael Probst, File)
and last updated 2021-01-12 13:31:10-05
Germany s biggest bank, Deutsche Bank, and Signature Bank in New York are severing ties with President Donald Trump in the wake of the deadly riots at the U.S. Capitol Building.
According to Politico, Deutsche Bank has decided not to do business with Trump and his company, to who he owes more than $300 million and it ll be due in the next coming years.