Subject: FW: TrackerBASE Report: Donald Trump on Intelligent Investing with Steve Forbes 8/8/2011
From: "Sorbie, Sean" <[email-masked]>
To: Research_D <[email-masked]>
Date: Wed, 11 May 2016 08:28:54 -0700

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Sent: Wednesday, May 11, 2016 11:28:50 AM (UTC-05:00) Eastern Time (US & Canada)
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Cc: Daniel Schiller
Subject: TrackerBASE Report: Donald Trump on Intelligent Investing with Steve Forbes 8/8/2011

TO:  Powerhouse

FROM: Daniel Schiller

Location: Ultra Rich Organisation Youtube page

Date:   08/08/11

RE: Donald Trump on Intelligent Investing with Steve Forbes   8/8/11

Event Details: https://www.youtube.com/watch?v=ZJOv-F4uH28

Attendees/Audience: Intelligent Investing viewers.

Summary of Event: Steve Forbes interviews Trump on his possible Presidential aspirations and various economic issues. Trump laments US environmental policy, S. Korea and Saudi Arabia not paying the US for protection, and the lack of taxes from Indian casinos.

Key Points:

0:40 SF: Donald thanks for being here; congrats on being on billionaires list; people underestimate you; running for president? R or Ind?   DT:  I am a republican, would run as republican. I have a lot of confidence in the R party; not a lot of confidence in the president. China, OPEC nations taking advantage of us.

SF:  Deadline?  DT: June. Not allowed to announce during Celebrity Apprentice run.

SF: Head of 3M said Obama is anti-business, agree?  DT: Not necessarily anti just doesn’t know what to do. He’s not sophisticated in the ways of business; doesn’t know. I deal with China for example a lot. I come out on top; I sell apartments to Chinese people, I get along great with them. I’m not anti-China it’s just ridiculous that we allow them to do this to our country; manipulation of currency.  I take my hat off to them for getting away with it. They used to give us sheetrock; everyone that used it had problems.

3:46 SF: Barriers making it hard to do business with China?  DT: I believe in free trade as long as it’s fair. We lose $300B a year vs. China. If that were a company you’d say let’s get rid of that company. We’re muzzling factories for the green movement; spending millions to not pollute which is wonderful, but do you think China does that? Forget it, they never even heard of it but they talk a good game. Look a S. Korea, horrible trade agreement with them; they didn’t want to sign until bombs lobbed in from N. Korea. Sent G. Washington aircraft carrier to protect them; why aren’t they paying us? They make hundreds of thousands on their LG televisions which I buy by the thousands. We’re sending ships, why don’t they pay for their protection? Troops in Saudi Arabia but they pay us nothing. The terrorists sent their families back to Saudi Arabia; didn’t send them to Iraq or anywhere else; everyone back to Saudi Arabia the day before 9/11. We’re like a third world nation. Bernanke said 5 years before real job picture. Lack of intelligence of this country and its reps amazes me. We’re going down and it’s very unfortunate.

8:08 SF: This is why you say US is laughingstock of the world?  DT: I meet with many important people; they cannot believe they’re getting away with these things. This country is whipping post of the world?

SF: Which recent pres would you model yourself after?  DT: No contest, Ronald Reagan. They had our hostages and it was pathetic with Jimmy Carter; amazingly released after Reagan elected. We were respected.

SF: Casino business taken a hit.  DT: It’s been very competitive. I did very well with is; took them public, highly levered, sort of sold them. So much competition. Indian casinos all over the place; someone ought to look into getting some tax from them. They call themselves sovereign lands; no cig taxes no nothing. They say to the federal govt build a highway right to our reservation but we’re not gonna pay for it. They want aid for education, all this aid; as far as taxes they say we aren’t gonna pay any. They’re making a fortune; they’ve hurt and or destroyed the casino industry. Lobbyists, many of them aren’t Indians, have done an amazing job. I had famous statement they don’t look like Indians to me and they put it on 60 Minutes [Forbes laughs]. They said in Congress how dare you say that and I’m in a room full of people that look like you, Steve. They maybe have less Indian blood than we do. Conclusion at the end of the piece was Trump is right.

12:33 SF: Commercial real estate..  DT: New York is doing great; outside is whole different ballgame. I’m in lots of different areas. Location expression overused; talent over location. When you have right property it works well in good and bad times. Palm Beach is through the roof. It was Madoff territory but doing very well again.

SF: Banks going to get through this cycle?  DT: They said next cycle was gonna be commercial but that never really hit, enough tenants came. Banks not loaning money if you want a house; all the vacant housing and banks are not doing their job. They were given a lot of money but not lending it. But they are all over it if I want it for Trump tower.

16:30 SF: Your kids more conservative than you?  DT: I try to teach them to be conservative a bit. They’ve seen some good times and some very smart deals we’ve made. We’ve done some great licensing deals where we’ve licensed the name Trump and made a lot of money with that. Beauty of that is you don’t have the risk a developer would have; if a job is bad we don’t have millions into it, we have nothing into it; and yet we get a big chunk of it and a lot of other good things. No one has come close to doing that formula the way that we have.

SF: How do you teach them?  DT: They’re really capable. I watch them and we’re careful. They can just run what we have and have a very nice life. I bid on things and it’s very hard today; I don’t know if that’s good or bad.

18:28 SF: You once said you never retire from real estate..  DT: Never known someone to retire from real estate. I think our faces go down the tubes but we build a very nice building somewhere and we view the building as a reflection of us. I feel young in this business. My father used to say to retire is to expire.

SF: What do you do about succession?   DT: It’s a very tough decision; leave a bigger chunk to one or divide evenly? Eric loves the club business, Don loves running buildings. Sort of thinking I can put one in charge of certain aspects; it’s very complex and important decision. We’ve seen family fights; most vicious I’ve ever seen are inter-family when it doesn’t work.

SF: Donald thank you.   DT: Thank you Steve, an honor.

Digitized Video File Label:  110808_DHS_221

Clip Labels:   110808_DHS_221_A