May 8, 2018

A Quick Reminder That Donald Trump Is the World’s Worst Dealmaker

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Just as a reminder of what a terrible dealmaker Donald Trump is, a Saudi Prince bought the Plaza Hotel in New York today in a deal that values the hotel at $600 million. In 1988, Trump bought the hotel and then renovated it at a cost of $950 million in current dollars.

Even after 30 years and over a decade of escalating prices for New York real estate, the Plaza still isn’t even close to being worth what Trump paid for it. He could have waited a century and not made money on it. This is the guy who will be negotiating North Korea’s nuclear program with Kim Jong Un.

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OUR DEADLINE MATH PROBLEM

It’s risky, but also unavoidable: A full one-third of the dollars that we need to pay for the journalism you rely on has to get raised in December. A good December means our newsroom is fully staffed, well-resourced, and on the beat. A bad one portends budget trouble and hard choices.

The December 31 deadline is drawing nearer, and if we’re going to have any chance of making our goal, we need those of you who’ve never pitched in before to join the ranks of MoJo donors.

We simply can’t afford to come up short. There is no cushion in our razor-thin budget—no backup, no alternative sources of revenue to balance our books. Corporations and powerful people with deep pockets will never sustain the fierce journalism we do. That’s why we need you to show up for us right now.

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