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It’s Thursday. 🎂Yesterday was Mayor de Blasio’s birthday. I would have wished him a happy birthday then, but I was running on subway time.
10 years’ worth of tax information contained in Mr. Trump’s returns from a person who had legal access to them, but whose identity The Times has not disclosed.
Mr. Trump reported $1.17 billion in losses from his core businesses from 1985 through 1994, according to the information. Year after year, he appears to have lost more money than nearly any other individual American taxpayer. The numbers contradict the narrative of business success and deal-making star power that he later used to help propel himself into the White House.
[A decade in the red:Mr. Trump’s tax figuresshow over $1 billion in business losses.]
Here’s a glimpse of what he was up to during that decade:
1985: His core businesses lost $46.1 million
Mr. Trump appeared on the Forbes “rich list” for the first time. His estimated net worth, according to the magazine, was $600 million, and included the real estate empire that his father, Fred Trump, still owned.
When asked if he would skate on it, Mr. Trump said no. “There are too many people who would like to see me fall on my rear end,” he added.
1987: His core businesses lost $42.2 million
He spent $29 million on a 282-foot yacht and $407 million to buy the Plaza Hotel.
He also published “Trump: Art of the Deal.”
1988: His core businesses lost $30.4 million
Mr. Trump wrote a letter to the editor in The Times, complaining about an architecture review whose headline referred to him as a “Symbol of a Gaudy, Impatient Time.”
He also expressed interest in buying the New England Patriots.
1989: His core businesses lost $181.7 million
Mr. Trump reported $52.9 million in interest income that year, according to Ms. Craig and Mr. Buettner. (The source of that mysterious sum was not disclosed.)
He decided to buy Eastern Airlines’ shuttle service for $365 million in cash and rebrand it as the Trump Shuttle. It never made a profit.
calling for the reinstatement of the death penalty after the rape of a woman in Central Park. The five teenagers convicted of the attack were later exonerated.
1990: His core businesses lost $262.4 million
Trump Taj Mahal Hotel and Casino opened in Atlantic City with more than $800 million in debt.
Mr. Trump also published a book called “Surviving at the Top.” In The Times, the reviewer Michael Lewis wrote, “The man whose first impulse after he buys a building is to change the facade has become nothing but a facade.”
1991: His core businesses lost $255.1 million
Hilton Hotels offered $165 million to buy back the Trump Castle Casino in Atlantic City, which it had sold to the future president for about $320 million in 1985.
Also, Mr. Trump sold his personal Boeing 727 jet for $6.5 million as part of his effort to sell off assets to weather his financial woes, according a letter his company, the Trump Organization, filed with the New Jersey Casino Control Commission.
1992: His core businesses lost $94.8 million
Banks started lending Mr. Trump money with more restrictions. An unnamed finance executive familiar with the terms of credit supplied to Mr. Trump said at the time, “In the old days, guys would lend to Mr. Trump without even inspecting the property.”
“I think those days are over,” he added.
1993: His core businesses lost $78.5 million
He married his second wife, Marla Maples. It was a front-page story in The Times. (Mr. Trump handed over $30 for a marriage license signed by Mayor David Dinkins.)
Mr. Trump announced plans to build a $350 million, 100-acre amusement park and seaport village along the eastern side of Bridgeport Harbor in Connecticut.
The Times reported then: “In typical fashion, as soon as Trump Park was proposed, a group of nearby property owners rose to denounce it.”
[Read more about Mr. Trump’s taxes: The New York Senate passed bills to create a path to releasehis state tax returns.]
From The Times
Check out our full coverage.]
The Mini Crossword:Here is today’s puzzle.
What we’re reading
Here is an interactive mapof New York City evictions, which are among the leading causes of homelessness. [Gothamist]
Corey Johnson,the City Council speaker, defended his attendance at the Met Gala after Mayor de Blasio skipped the event and called it elitist. [New York Post]
The poorest area in New York Stateis the town of New Square, about an hour north of Manhattan, where “most households earn $24,000 a year or less.” [USA Today]
In New Jersey,the Paterson Board of Education adopted a budget that includes 234 layoffs. [ABC 7 NY]
Coming up today
Make your own hanging planter in a workshop at the Queens Botanical Garden. Plants and fabrics will be provided. 6 p.m. [Free with R.S.V.P.]
Learn about the American political system at Tompkins Square Library in Manhattan. 5:30 p.m. [Free]
See “Antigone in Ferguson,” a modern adaptation of the classic play, at the St. Ann and Holy Trinity Church in Brooklyn. 7 p.m. [Free]
a comedy showcase for female, queer and gender-nonconforming voices at Caveat in Manhattan. 9 p.m. [$8]
— Ana Fota
Events are subject to change, so double-check before heading out. For more events, seethe going-out guidesfrom The Times’s culture pages.
And finally: The last days of WPLJ
95.5 WPLJ, announced yesterday that the station “will be going away” at the end of the month. (A reunion for present and former WPLJ employees will take place next week in Manhattan, according to InsideRadio.com.)
The station, and others in various cities, were recently purchased by Educational Media Foundation, which describes itself as “the nation’s largest radio broadcaster of Contemporary Christian Music.”
The change in format is particularly striking considering the story behind WPLJ’s name.
The “W” part of their name is a formality. As Primer Magazine explains, starting in 1912, all television and radio stations were required to have names that were three or four letters in length. Stations east of the Mississippi River were assigned the first letter “W,” the rest were assigned the first letter “K.” (Before you email me, note: Z100’s call letters are WHTZ and Hot 97’s call letters are WQHT.)
As for the PLJ, it’s a homage to the Frank Zappa song “White Port Lemon Juice,” according to Radio and Television Business Report.
it became a rock station. That’s when it put PLJ in the name. Later, the music changed to adult contemporary and then Top-40 hits, but the call letters endured. The station went on to host concerts with musical celebrities like Bon Jovi.
A colleague of mine said she used to come home after school and call the station to ask it to play Prince and Debbie Gibson. I’m not sure how the new owners will respond to those kinds of requests.
It’s Thursday — find your music before it’s gone.
Metropolitan Diary: Laundry day
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