May 8, 2018

A Quick Reminder That Donald Trump Is the World’s Worst Dealmaker

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Just as a reminder of what a terrible dealmaker Donald Trump is, a Saudi Prince bought the Plaza Hotel in New York today in a deal that values the hotel at $600 million. In 1988, Trump bought the hotel and then renovated it at a cost of $950 million in current dollars.

Even after 30 years and over a decade of escalating prices for New York real estate, the Plaza still isn’t even close to being worth what Trump paid for it. He could have waited a century and not made money on it. This is the guy who will be negotiating North Korea’s nuclear program with Kim Jong Un.

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A full one-third of our annual fundraising comes in this month alone. That’s risky, because a strong December means our newsroom is on the beat and reporting at full strength—but a weak one means budget cuts and hard choices ahead.

The December 31 deadline is closing in fast. To reach our $400,000 goal, we need readers who’ve never given before to join the ranks of MoJo donors. And we need our steadfast supporters to give again—any amount today.

Managing an independent, nonprofit newsroom is staggeringly hard. There’s no cushion in our budget—no backup revenue, no corporate safety net. We can’t afford to fall short, and we can’t rely on corporations or deep-pocketed interests to fund the fierce, investigative journalism Mother Jones exists to do.

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