Wednesday, June 28, 2017

Even When Donald Trump Loses, He Wins!

Trump Tower Toronto
Donald Trump is the greatest deal-maker ever. If you don’t believe that, then consider this story from Canada, where The Trump Organization will make a tidy profit off people who want nothing to with him.

JCF Capital ULC, which owns the Trump International Hotel & Tower in Toronto, is so keen to get the Trump name off the building that it’s paying an undisclosed sum (said to be upwards of $6 million) to get out of a licensing agreement initiated by the original owner that allowed them to slapped the Trump brand on the hotel complex.

The Trump name is expected to be removed from the buildings as early as August 1, according to “a person with knowledge of the matter” who spoke to Bloomberg Business anonymously, since the deal is confidential. It was not reported whether the source was snickering at the idea that getting out of Donald Trump’s name was worth every penny, or just Loony. A new name for the building complex hasn’t been announced yet, but maybe they could go with “The Sexxy Justin Trudeau Arms.” 

Since JCF Capital is a U.S. based company, it remains to be seen whether a foreign company paying to distance itself from the president would violate the obscure "Emoluments" clause. For those who slept through civics class, it is 49 words in Article I of the Constitution:
“No Title of Nobility shall be granted by the United States: And no Person holding any Office of Profit or Trust under them, shall, without the Consent of the Congress, accept of any present, Emolument, Office, or Title, of any kind whatever, from any King, Prince, or foreign State.”
According to legal scholars, these words were added out of a concern from the 1700s that American ambassadors, on the far side of the pond, might be corrupted by gifts from rich European powers. Benjamin Franklin, for instance, had accepted a snuffbox festooned with 400 diamonds from the King of France. John Jay accepted a horse from the King of Spain. Both basically said FU to their critics, and after that the Emoluments Clause rarely came up again. It’s never been the subject of a major court case and never been taken up by the Supreme Court, leaving great uncertainty about what it really means. And you can bet the left will find some miraculous unknown restriction or prohibition and try and make hay.  

But as I said, even when he loses, he wins. Last October, the CEO of Trump Hotels announced plans for a new chain of exciting, high priced luxurious resort hotels, unpolluted by the Trump brand to be called “Scion”, pointed at wealthy millennials who wouldn't vote for him anyway and would rather stay in a hotel that sounds like a failed Japanese car brand. 

[CBC]
[Business Week]
[IBD]
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