May 12, 2019

Trump Businesses Lost $1 Billion Over 10 Years. So What?

Trump Businesses Lost $1 Billion Over A Decade.


My thoughts on that topic?  Two words:  So what?

I subscribe to daily delivery of the New York Times, and generally find the newspaper both informative and interesting.  But I have to say the Times made a insert-foot-in-mouth fool out of itself in the May 8 newspaper.

So much that I'm awarding the much sought after ... not! ...  Bonehead of the Month award for May to the New York Times!  Here's why.

You see, it's no secret that both the New York Times and the Time's Editorial Board are no fans of President Trump.  (Frankly, I'm not much of a Trump fan myself, but that's not relevant for this post.)  On May 8, the Times posted a front page, above-the-fold article that attempted ... but failed ... to make a humongous deal of Trump's purported $1 billion of business losses over 10 years from 1985 to 1994.

One problem with the Time's storyline is that this decade included the 1990-1991 recession, during which many companies posted large losses.

But the most compelling fault with the Time's storyline is rather ironic.  In the same day's newspaper, the Business section included an article about Lyft's recent staggering $1.14 billion loss.  Time frame to post this loss?  One quarter, or a measly three months.

That's 97.5% faster!  Now there is some news perhaps worth reporting. 

I find no front page, above-the-fold worthy news about Trump businesses losing $1 billion over 10 years, when a single company, Lyft, lost a staggering $1.14 billion in a mere 3 months.   The New York Times seems to believe it is earth shattering news when a collection of businesses lose $1 billion over 10 years, yet a single company losing $1.14 billion in a mere 3 months is worthy of little more than an uneventful everyday article in the Business section.

I cannot understand the Times' rationale.  Can you ?

About Mary Rae Fouts, EA

Mary Rae Fouts, EA provides tax, insurance consulting, and expert witness services to clients throughout the United States.  For more information visit FoutsFinancialGroup.com.

Mary Rae Fouts

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