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David_Tepper

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"Trump's $550M golf empire may be in the weeds"
« on: July 23, 2015, 04:23:03 PM »
Aside from deflating the myth & legend of the Donald, this article provides some useful metrics about the golf course/club business:

http://www.cnbc.com/2015/07/23/trumps-550m-golf-empire-may-be-in-the-weeds-experts.html?__source=yahoo|finance|headline|headline|story&par=yahoo&doc=102859221
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cary lichtenstein

  • Karma: +0/-0
Re: "Trump's $550M golf empire may be in the weeds"
« Reply #1 on: July 23, 2015, 04:53:20 PM »
Jupiter Trump $50 million...a bit of a stretch
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Live Jupiter, Fl, was  4 handicap, played top 100 US, top 75 World. Great memories, no longer play, 4 back surgeries. I don't miss a lot of things about golf, life is simpler with out it. I miss my 60 degree wedge shots, don't miss nasty weather, icing, back spasms. Last course I played was Augusta

Patrick_Mucci

Re: "Trump's $550M golf empire may be in the weeds"
« Reply #2 on: July 23, 2015, 06:45:33 PM »
David,


Why are you posting this crap ?


Trump bought most of the properties at distressed prices and if he had to liquidate those properties I'd venture to say that he'd make a significant profit.


The last time I played Trump Bedminster both courses were packed with a large corporate outing scheduled for the following Monday
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David_Tepper

  • Karma: +0/-0
Re: "Trump's $550M golf empire may be in the weeds"
« Reply #3 on: July 23, 2015, 07:42:48 PM »
"Why are you posting this crap ?"

Pat -

I am making available to those interested information and observations from sources I believe to be credible.

If you actually bothered to read the article you will note the thrust of the article is not what Trump paid for the golf courses and if they are now worth more than what he paid. The article addresses what he claims the properties are now worth vs. their more likely value.

As to your observation regarding Trump Bedminster, do you really think one visit on one day provides enough data for you to evaluate the worth of that enterprise?

As always, never let the facts get in the way of your opinions. ;)

DT
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Patrick_Mucci

Re: "Trump's $550M golf empire may be in the weeds"
« Reply #4 on: July 23, 2015, 07:53:09 PM »
David,


Who cares what anyone says the properties are worth, only a willing buyer will determine that.


What makes you think that I've only had one visit to Trump ? 😜
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Jeff Bergeron

  • Karma: +0/-0
Re: "Trump's $550M golf empire may be in the weeds"
« Reply #5 on: July 23, 2015, 08:15:43 PM »
Quote from: David_Tepper on July 23, 2015, 07:42:48 PM
"Why are you posting this crap ?"

Pat -

I am making available to those interested information and observations from sources I believe to be credible.

If you actually bothered to read the article you will note the thrust of the article is not what Trump paid for the golf courses and if they are now worth more than what he paid. The article addresses what he claims the properties are now worth vs. their more likely value.

As to your observation regarding Trump Bedminster, do you really think one visit on one day provides enough data for you to evaluate the worth of that enterprise?

As always, never let the facts get in the way of your opinions. ;)

DT
David:


We don't care about your politics. "stop posting this crap!"








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David_Tepper

  • Karma: +0/-0
Re: "Trump's $550M golf empire may be in the weeds"
« Reply #6 on: July 23, 2015, 10:01:29 PM »
Jeff Bergeron -

I posted an article about the golf business that has little, if anything, to do with politics, let alone my politics.

Out of curiosity, who were you speaking for when you wrote "we don't care" - Pat and yourself or all the participants on the website?

DT
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John Kavanaugh

  • Karma: +0/-0
Re: "Trump's $550M golf empire may be in the weeds"
« Reply #7 on: July 23, 2015, 10:16:44 PM »
Posting links to an article is lazy. Save it for Twitter. This site would be better served by original thought. If I want a rehash of Yahoo News I will ask my wife for her opinion.
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David_Tepper

  • Karma: +0/-0
Re: "Trump's $550M golf empire may be in the weeds"
« Reply #8 on: July 23, 2015, 10:22:26 PM »
John Kavanaugh -

Thanks, as always, for your input. I will give it all the consideration it deserves.

DT
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Patrick_Mucci

Re: "Trump's $550M golf empire may be in the weeds"
« Reply #9 on: July 23, 2015, 10:34:31 PM »
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« Last Edit: July 23, 2015, 10:48:26 PM by Patrick_Mucci »
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John Kavanaugh

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Re: "Trump's $550M golf empire may be in the weeds"
« Reply #10 on: July 23, 2015, 10:40:22 PM »
David,


No worries. You are hardly alone in starting threads that would be better suited as tweets. Hell, some guys actually post what on TV, or worse, what's on Shack's site. Fair warning, everyone on this site has an internet connection and are perfectly capable of Googling "golf".


Btw:  Let the rich guys finance golf. We are lucky to have them. Gift horse, meet mouth.
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Tim_Cronin

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Re: "Trump's $550M golf empire may be in the weeds"
« Reply #11 on: July 23, 2015, 10:43:21 PM »
David,
   Thanks for posting. I found the report very interesting. I don't think he'd get those prices if he put the courses on the block, but he's free to  delude himself. It's good for the ego.
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cary lichtenstein

  • Karma: +0/-0
Re: "Trump's $550M golf empire may be in the weeds"
« Reply #12 on: July 24, 2015, 02:02:51 AM »
David


thanks for posting, I didn't see the article anywhere else and it makes for interesting reading
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Live Jupiter, Fl, was  4 handicap, played top 100 US, top 75 World. Great memories, no longer play, 4 back surgeries. I don't miss a lot of things about golf, life is simpler with out it. I miss my 60 degree wedge shots, don't miss nasty weather, icing, back spasms. Last course I played was Augusta

Steve Okula

  • Karma: +0/-0
Re: "Trump's $550M golf empire may be in the weeds"
« Reply #13 on: July 24, 2015, 06:58:14 AM »
I also read the article and found it interesting. Thank you for posting.
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The small wheel turns by the fire and rod,
the big wheel turns by the grace of God.

jeffwarne

  • Karma: +0/-0
Re: "Trump's $550M golf empire may be in the weeds"
« Reply #14 on: July 24, 2015, 07:05:53 AM »
Thanks for posting.
Admiration/disdain for Trump is more of an intelligence test than a political statement ;)
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"Let's slow the damned greens down a bit, not take the character out of them." Tom Doak
"Take their focus off the grass and put it squarely on interesting golf." Don Mahaffey

Jim Nugent

  • Karma: +0/-0
Re: "Trump's $550M golf empire may be in the weeds"
« Reply #15 on: July 24, 2015, 07:39:56 AM »
It's easy to believe the guy who says Trump LA is better than Pebble might exaggerate the value of his properties. 

That said, the article, published on CNBC, clearly is mostly about politics.  Which is fine with me.  Trump wants to hold himself out as a presidential candidate, the media SHOULD dig into everything about him.  They should do that to every candidate. 

The headline is pretty misleading. 
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Tony_Muldoon

  • Karma: +0/-0
Re: "Trump's $550M golf empire may be in the weeds"
« Reply #16 on: July 24, 2015, 10:51:26 AM »


“You’re all jealous because my golf courses are worth $550m and my dick is this long.”
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Carl Johnson

  • Karma: +0/-0
Re: "Trump's $550M golf empire may be in the weeds"
« Reply #17 on: July 24, 2015, 11:39:44 AM »
Been out of touch for a while and just got around to reading this.  It's nothing more than a view of the golf business, contrasting Trump's expectations with those of conventional golf-establishment types -- what do they know?  ;)
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Jeff_Brauer

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Re: "Trump's $550M golf empire may be in the weeds"
« Reply #18 on: July 24, 2015, 11:43:17 AM »
David,

I enjoyed both Golf Biz articles.  Glad you posted them.
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Jim Hoak

  • Karma: +1/-0
Re: "Trump's $550M golf empire may be in the weeds"
« Reply #19 on: July 24, 2015, 11:52:28 AM »
At the risk of being blasted again for even bringing up Trump's name on this site, I do believe this is relevant to golf--and golf architecture.  He is not a politician; he is a businessman who invests in a lot of golf-related activities. 
He has consistently over-rated his courses--and their value.   I won't send links (because I guess that is wrong), but look it up.  He has estimated his net worth at various times (depending on how it strikes him) at $2-10 billion.  Forbes credibly estimates it at much less.  Some think it is as low as $100-150 million.  Whatever, another golf property of his went Chapter 11 a few days ago.  He seems to forget debt is a deduct from value.  Maybe the golf properties are worth $550 million, but the debt against them is probably very high, I believe.
When I last mentioned his name on this site, everyone assumed I was talking about his immigration quotes.  I was primarily referring to his quote that "golf should be elitist."  That people should have to work to be successful so that they would be worthy to play golf.  (Again, Google it.  I won't provide a site for risk of being simplistic.) 
Is this someone that should be trying (even in a small way) to be a spokesman for golf?  I support the positions of the PGA, the LPGA and the USGA in calling him down on these (non-political) golf comments.
« Last Edit: July 24, 2015, 12:13:02 PM by Jim Hoak »
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B.Ross

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Re: "Trump's $550M golf empire may be in the weeds"
« Reply #20 on: July 24, 2015, 02:32:39 PM »
thank you for posting, found this very interesting that he inflates the value of his own courses, kind of like he deflates his actual handicap down to 3 from what it should be, which is about 8 or 9.


trump palm beach is a very good golf course, but he runs the club in a comical manner. i've been lucky enough to play there 2x and know a few members. members there say jokingly "everything's for sale" and some members paid 250k initiations, some 0 initiations at all. as a result, i believe quite a few members left, but that may be incorrect. nevertheless, i know many were livid at trump's whimsical way of assigning initiation dues at his own club.
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John Crowley

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Re: "Trump's $550M golf empire may be in the weeds"
« Reply #21 on: July 24, 2015, 02:53:40 PM »
David,
Thanks for this post, I would not have seen it otherwise.
I always enjoy a good laugh.
J
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Tim Pitner

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Re: "Trump's $550M golf empire may be in the weeds"
« Reply #22 on: July 24, 2015, 05:19:26 PM »
Jim Hoak,
I can't stand Trump for all the obvious reasons but, in fairness, the context of his statement that golf should be elitist was that he didn't support efforts to make golf more accessible such as making the hole larger or promoting foot golf.  I didn't read him to say that golf should only be for the wealthy.
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Paul Gray

  • Karma: +0/-0
Re: "Trump's $550M golf empire may be in the weeds"
« Reply #23 on: July 24, 2015, 07:47:01 PM »
Quote from: jeffwarne on July 24, 2015, 07:05:53 AM
Thanks for posting.
Admiration/disdain for Trump is more of an intelligence test than a political statement ;)


Amen to that.


Anyway, this features a link to something very interesting to some of the golfers amongst us here. I assume there are still some golfers left here.


Let it go Pat or that Bobby Jones thread gets bumped.  ;D
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In the places where golf cuts through pretension and elitism, it thrives and will continue to thrive because the simple virtues of the game and its attendant culture are allowed to be most apparent. - Tim Gavrich

Mark Hissey

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Re: "Trump's $550M golf empire may be in the weeds"
« Reply #24 on: July 25, 2015, 02:14:00 AM »
I think he is in a very bad position with his golf courses because of his Presidential related comments.


Don't be surprised if he loses them all.
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