Court Orders Dissolution of Trump Org

#426
#426
BernardKingGOAT said:
He's certainly uninformed on this matter, but that's not really in context with "rube" type characteristics. More contextual would be someone asking, as a few in this forum have done, something like, "What has Trump lied about?". More accurately, someone claiming they are better at their job than Rick Barnes is at his job, just because they've made a few bucks the last few years
Click to expand...
I make fun of him because he uses that term in most of his posts. It’s a favorite of his. Now have you ever finished at the very top in your career?Like if your company has an award for #1? Not about money but about winning at what you do.
 
#427
#427
CobbVol said:
Vacant 2+ acre oceanfront lots in Palm Beach are going for $150-200M.

MAL is on 17 acres, 62K sq ft, oceanfront, and on the ICW.

The judge is an idiot.
Click to expand...

What is the market for single family homes versus deed restricted social clubs?

If you want to make comparisons on land value, you have to take into account what the land can be used for.

Trump is an employee of Mar-a-Lago, allowing him to live there. Trump does not live at Mar-a-Lago during the summer because the club shuts down. A 1993 agreement with the town of Palm Beach allowed Trump to convert Mar-a-Lago to a 10-guest-suite private club but, in doing so, prohibited him from living there full-time.
 
#428
#428
Jxn Vol said:
I make fun of him because he uses that term in most of his posts. It’s a favorite of his. Now have you ever finished at the very top in your career?Like if your company has an award for #1? Not about money but about winning at what you do.
Click to expand...
I worked for Nissan and ExxonMobil in my professional career, so NO, I was never No. 1 at either place. Winning? 🤭
 
#430
#430
The judge never said MAL is worth $18 million. Trump stated it was worth between 400-600 million. Trump's side had to substantiate that. Trump's side brought in an expert. This expert said it was worth $1.5 billion. Trump's expert was asked how he could substantiate that and he couldn't. Trump's expert brought forth no formal proof, documentation, or analysis of any value. As a result, the judge had to refer to the only "appraisal" that was entered into evidence, which was the property tax record.

I've dealt with property tax disputes throughout country and if you don't bring proof, you don't win. Period.

Fwiw, Forbes recent appraisal said MAL was worth $325M.

I don't think Trump materially intentionally misrepresented MAL value but in 50/50 states, you have to support values with facts and documentation. Trump's legal team and expert did not do this here.
 
  • Like
Reactions: clarksvol00
#431
#431
BigOrangeMojo said:
The judge never said MAL is worth $18 million. Trump stated it was worth between 400-600 million. Trump's side had to substantiate that. Trump's side brought in an expert. This expert said it was worth $1.5 billion. Trump's expert was asked how he could substantiate that and he couldn't. Trump's expert brought forth no formal proof, documentation, or analysis of any value. As a result, the judge had to refer to the only "appraisal" that was entered into evidence, which was the property tax record.

I've dealt with property tax disputes throughout country and if you don't bring proof, you don't win. Period.

Fwiw, Forbes recent appraisal said MAL was worth $325M.

I don't think Trump materially intentionally misrepresented MAL value but in 50/50 states, you have to support values with facts and documentation. Trump's legal team and expert did not do this here.
Click to expand...
While this may be correct for the most part, I've won property tax disputes on commercial and residential properties in Georgia and Tennessee without providing one shred of evidence. Admittedly not even in the same planetary system as the properties involved in this case, but I did win. Again, it does not negate the gist of what you said, but it is not absolutely true.
 
#432
#432
CobbVol said:
Vacant 2+ acre oceanfront lots in Palm Beach are going for $150-200M.

MAL is on 17 acres, 62K sq ft, oceanfront, and on the ICW.

The judge is an idiot.
Click to expand...

A few points here. A 2023 listing can not be used to ascertain value a decade ago. I can list my house now for 100 billion dollars but that doesn't mean my neighbor's house was worth that a decade ago.

MAL is not beachfront (it's across street) and only water access on property is lagoon. Covenants exist too. So a pure extrapolation doesn't work here.

Ultimately Trump had to provide evidence to support his values. His expert did no favors by not providing anything formal and substantiated that resembled what Trump put on the forms. Forbes' appraiser puts MAL value at 325M, which makes Trump's values high but not completely indefensible. But you have to put forth evidence in the record to defend it...

Properties like 40 Wall Street and Trump Tower penthouse, Trump will has a much more difficult time substantiating..
 
#433
#433
GroverCleveland said:
While this may be correct for the most part, I've won property tax disputes on commercial and residential properties in Georgia and Tennessee without providing one shred of evidence. Admittedly not even in the same planetary system as the properties involved in this case, but I did win. Again, it does not negate the gist of what you said, but it is not absolutely true.
Click to expand...

I would bet you walked in there and said something more than "they are wrong."...

I bet you brought up a condition of your property, an incorrect sq footage, or a recent sale from nearby property...
 
#436
#436
BigOrangeMojo said:
I would bet you walked in there and said something more than "they are wrong."...

I bet you brought up a condition of your property, an incorrect sq footage, or a recent sale from nearby property..
Click to expand...
Kind of got me on the residential property. It was a 1924 craftsman that that needed a major rehab, but they took my word for it, did not provide any proof. On the commercial property, I pretty much did exactly that in telling them they were wrong. I actually went before the board of appeals and offered to sell it to any of them on the spot for $300,000 less (this was back in '91) than the appraisal. For $400,000 less, I'd have to call my partner, but by the end of the day they would most likely be in the warehouse business. They dropped the appraisal $400,000. Took all of about five minutes to get a 33% drop in the appraisal.
 
  • Like
Reactions: Orangeburst, davethevol and BigOrangeMojo
#437
#437
Jxn Vol said:
Yep
Click to expand...
I suppose it's just a matter of our differing backgrounds, but I always thought of "winning" as actually winning in sports' competitions. Never thought of it in my professional career away from sports. In my roles, having a team of employees set new standards for the company was always gratifying, but I never thought of it as a competition. Everyone in the company is essentially on the same team. It makes the marketing group's employees job much easier
 
  • Like
Reactions: GroverCleveland
#438
#438
BernardKingGOAT said:
I suppose it's just a matter of our differing backgrounds, but I always thought of "winning" as actually winning in sports' competitions. Never thought of it in my professional career away from sports. In my roles, having a team of employees set new standards for the company was always gratifying, but I never thought of it as a competition. Everyone in the company is essentially on the same team. It makes the marketing group's employees job much easier
Click to expand...
I'm with @Jxn Vol on this one. Closing the deal against the competition was about as good as winning an event in a track meet. (quarter miler back in the day).
 
  • Like
Reactions: Orangeburst, hog88, BernardKingGOAT and 1 other person
#439
#439
BernardKingGOAT said:
I suppose it's just a matter of our differing backgrounds, but I always thought of "winning" as actually winning in sports' competitions. Never thought of it in my professional career away from sports. In my roles, having a team of employees set new standards for the company was always gratifying, but I never thought of it as a competition. Everyone in the company is essentially on the same team. It makes the marketing group's employees job much easier
Click to expand...
To do what I do it’s nice to be recognized. It’s cool to walk across the stage and shake the CEO and CFOs hand.
 
Last edited:
  • Like
Reactions: BernardKingGOAT and GroverCleveland
#442
#442
Eric Trump
@EricTrump

We thank the Appellate Division for staying the NY Attorney General’s and Judge Engoron’s overzealous attempt to cancel our New York business certificates. Judge Engoron’s order erroneously sought to adjudicate the rights of non-party business entities that employ nearly 1,000 hard-working New Yorkers, have never been accused of any wrongdoing and, were never given their day in court – in clear violation of their fundamental Constitutional rights and Due Process. We will continue to vigorously defend our company and our incredible employees from this politically-motivated persecution.


1696630000238.png
 
  • Like
Reactions: Franklin Pierce and whodeycin85
#443
#443
jmacvols1 said:
Eric Trump
@EricTrump

We thank the Appellate Division for staying the NY Attorney General’s and Judge Engoron’s overzealous attempt to cancel our New York business certificates. Judge Engoron’s order erroneously sought to adjudicate the rights of non-party business entities that employ nearly 1,000 hard-working New Yorkers, have never been accused of any wrongdoing and, were never given their day in court – in clear violation of their fundamental Constitutional rights and Due Process. We will continue to vigorously defend our company and our incredible employees from this politically-motivated persecution.


View attachment 584987
Click to expand...
That ruling just helped any appeals Trump has, show clear biases by the judge
 
  • Like
Reactions: UT_Dutchman, GroverCleveland and jmacvols1
#444
#444
GroverCleveland said:
While this may be correct for the most part, I've won property tax disputes on commercial and residential properties in Georgia and Tennessee without providing one shred of evidence. Admittedly not even in the same planetary system as the properties involved in this case, but I did win. Again, it does not negate the gist of what you said, but it is not absolutely true.
Click to expand...
I think it's a little bit of a different standard when you're in front of a court with rules of evidence and standards of proof instead of the tax appraisal panel. I challenged my value once and it was pretty much a hearing in front of a panel of locals who had enough time on their hands to take off work two or three days of work a week for a month. No real rules and if you're pleasant and not asking for a wildly inappropriate value it's not bad.
 
#445
#445
That ruling is further evidence the judge is an idiot. With this activist judge, getting a business in NY to start the dissolution process because you do something they don't like is proper.
 
#446
#446
clarksvol00 said:
I think it's a little bit of a different standard when you're in front of a court with rules of evidence and standards of proof instead of the tax appraisal panel. I challenged my value once and it was pretty much a hearing in front of a panel of locals who had enough time on their hands to take off work two or three days of work a week for a month. No real rules and if you're pleasant and not asking for a wildly inappropriate value it's not bad.
Click to expand...
Agree on the standards with regards to court cases, however my response was not about evidence for legal proceedings, but for property tax disputes in general. Fully agree on disposition. Catch a lot more bees with honey than vinegar.
 
  • Like
Reactions: BigOrangeMojo and clarksvol00
New posts
You must log in or register to reply here.

VN Store



Back
Top