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Companies pull out from Trump brand after storming of Capitol incident

The Thaiger

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Companies pull out from Trump brand after storming of Capitol incident | The Thaiger
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Corporate America is adding its weight in response to the insurgency at the Capitol building on January 6, and are pulling out from any association with the Trump brand after the storming of the capitol incidentwhich economists say will have a profound medium and long-term effect on his business interests. Recently, Signature Bank closed Trump’s personal accounts and the PGA of America stopped plans to hold its 2022 championship at Mr. Trump’s New Jersey golf course.

Such a parting of ways signals the business community’s weariness in being associated with a political figure that has attracted worldwide attention and is indicative of what may happen to the Trump brand. The president’s role in the incident, confirmed by his impeachment by the House this week, has gained criticism from the Business Roundtable to the AFL-CIO labour federation.

Michael D’Antonio, the author of a Trump biography, says the capitol incident has been a game-changer for the support of extreme politics.

“Trump’s name is really an albatross. He is the most disgraced president in history. This is a person who’s synonymous with a mob attacking the US Capitol. I just think this went a step too far.”

Other experts like Tim Calkins, a marketing professor at Northwestern University’s Kellogg School of Management, say Trump’s brand will inevitably suffer long-term.

“Before his term, Trump stood for wealth, success and over-the-top luxury. Now the brand has associations with anti-government views, racism and extremism. This makes the brand fairly toxic.”

Deutsche Bank, to which Trump reportedly owes around $400 million, is also planning to stop engaging in business with him. But the president dismissed any business challenges in an October 15 televised event by saying that the $400 million he owed was “a tiny percentage of my net worth.”

It appears true that some of Trump’s properties have benefitted from his presidency as taxpayer revenue has continuously flowed into his golf courses and clubs where he stays with his family, the secret service and the White House staff.

In fact, CREW estimates that Trump’s properties took in over $100 million from more than 500 visits by the president, according to a report in September 2020. But even that business transaction has received widespread criticism as many say Trump should not have mixed politics with his personal businesses.

D’Antonio predicts that Trump may sell current assets to pay off his Deutsche Bank debt, which means there could be fewer to none Trump hotels, golf courses or towers in the next 10 years.

SOURCE: Bangkok Post

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7 Comments

7 Comments

  1. Avatar

    Brian

    Sunday, January 17, 2021 at 5:25 pm

    Source: Bangkok Post. Where’d Bangkok Post get it? AFP. Propaganda.

    This is my second request to the Thaiger for transparency about this: what is the money arrangement? Which party is paying which in order for the Thaiger to put it in front of its readers’ eyes?

    • Avatar

      Buttaxe

      Monday, January 18, 2021 at 10:39 am

      “Insurgency” Good grief yet another anti-conservative propaganda piece. Thaiger, you are losing credibility, try to source articles that show a modicum of balance at least.

  2. Avatar

    Nipral

    Sunday, January 17, 2021 at 5:28 pm

    At last some good news !

  3. Avatar

    Sam

    Monday, January 18, 2021 at 5:53 pm

    Good reporting Thaiger.

    All Trump’s insults, bad business actions, and hubris are coming home to roost. Most corrupt politician in history, worse than Nixon, and he’ll go down as an abysmal failure much like his deplorable sychophants.

  4. Avatar

    Ben

    Monday, January 18, 2021 at 10:26 pm

    The Trump brand is strong among his supporters and detested by his detractors. Businesses want to sell to all and not to a fraction of the population. It’s a smart business move. Warren Buffet says never mix business with politics and he’s right.

    The My Pillow Guy is going to figure this out when he sees his next sales report.

  5. Avatar

    Ben

    Tuesday, January 19, 2021 at 10:13 am

    A fellow “patriot” of Buttaxe’s Riley Williams of Harrisburg, PA stole a laptop from Pelosi’s office and is trying to get it to the SVR (Russia’s CIA). This is treason pure and simple. Corporate America doesn’t want to be associated with this treasonous behavior. Lock up everybody that was in the Capitol illegally and throw away the key.

  6. Avatar

    dispensed

    Wednesday, January 20, 2021 at 10:25 am

    They waited till the last minute to save face. What a selfless act–from a business perspective.

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Politics

Civil rights activist contests new version of NGO bill

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Civil rights activist contests new version of NGO bill | The Thaiger

A civil rights activist is accusing Thailand’s cabinet of revising a law without gaining the public’s input. The new version of the bill, which is supposed to dictate transparency in the promotion and development of civil society organisations, includes the words “non‐profit,” while the original version does not.

The bill is also supposed to provide oversight of NGOs who may receive financial assistance from overseas sources. According to Bangkok Post, an unnamed source says such NGOs are under scrutiny, especially the ones who accuse Thai authorities of violating human rights and then use such claims to seek funds.

Sappasit Khumprapan, chairman of the Centre for the Protection of Children’s Rights Foundation, is also the chairman of a subcommittee drafting the bill. He says he will challenge the bill in the Constitutional Court if the word “non‐ profit” is not dropped before it is sent to the House of Representatives. Sappasit says the law is “extremely rightist” and says it should be improved before reaching the House.

Civil society organisations under the revised law must register as non‐profit entitites with the Interior Ministry’s Department of Provincial Administration while disclosing their audited accounts, annual income taxes and fund sources each year.

But deputy government spokeswoman, Rachada Dhnadirek, says the law is intended to increase the monitoring of NGOs.

“The draft law is intended to promote transparency and accountability, not to stifle their activities.”

Rachada says if these NGOs receive funds from non-Thai citizens or organisations, they are limited to spending the money on activities allowed by Thai law. So far, despite Thailand having thousands of NGOs, only 87 have been registered.

Thailand’s PM Prayut says the law must not be discussed in detail to prevent confusion and misunderstandings. The proposed bill will be submitted for public hearings, with input from those hearings to be sent to the Council of State for review.

SOURCE: Bangkok Post

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Indonesian and Thai foreign ministers meet with Myanmar counterpart, seek peace after coup

Caitlin Ashworth

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Indonesian and Thai foreign ministers meet with Myanmar counterpart, seek peace after coup | The Thaiger
PHOTO: Ministry of Foreign Affairs

To seek a peaceful solution in Myanmar after the country’s military seized power, foreign ministers of Indonesia and Thailand met with the new, military-appointed foreign minister of Myanmar Wunna Maung Lwinat at Bangkok’s Don Mueang Airport for a brief, 20 minute discussion.

Both the Indonesian and Thai counterparts say they want peace, but the Indonesian foreign minister says Thailand has a “special position” to play because of its proximity to Myanmar and the number of Burmese nationals in Thailand. The Thai-Myanmar land border is 2,400 kilometres long. There are around 2 million Burmese people who live in Thailand.

With the elected civilian government pushed out and many political leaders arrested, including Aung San Suu Kyi, who won the election for state counsellor in a landslide and also served as the foreign minister, there have been daily protests in Myanmar. A strike on Monday shut a number of businesses. Burmese nationals living in Thailand have even held demonstrations in Bangkok. Some rallied outside the US Embassy in Bangkok, calling on the American government to step in.

The meeting between the 3 foreign ministers was the first overseas visit for a senior Myanmar official since the military coup on February 1. A spokesperson for the Thai Foreign Ministry, Tanee Sangrat, says the ministry insists on peace and stability in Myanmar and hopes to see the situation improve.

“It was also a good opportunity for Thailand to directly listen to Myanmar about issues that Myanmar prioritizes, as well as exchanging opinions on issues important to the people for both countries.”

At a press conference in Jakarta, Indonesian Foreign Minister Retno Marsudi said she asked her Myanmar counterpart to “prioritise the safety and wellbeing” of the people. She says all 10 members of the Association of Southeast Asian Nations must respect the principles in the ASEAN Charter which outlines principles of democracy as well as protection for human rights and fundamental freedoms.

“This shuttle diplomacy is surely not easy to do during the times of pandemic, but Indonesia has to do it because there are some principles that must be respected…Indonesia chooses not to stay silent…To do nothing is not an option.”

Indonesia has been pushing for a special ASEAN foreign ministerial session to discuss the Myanmar situation. Thai and Indonesian foreign ministers also discussed potentially holding an informal ASEAN meeting in August. The forum has not met in person since the Covid-19 pandemic.

SOURCE: Kyodo News

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Behind bars: government ministers among 29 jailed for Yingluck protests

Maya Taylor

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Behind bars: government ministers among 29 jailed for Yingluck protests | The Thaiger
Anti-government protests in Bangkok in 2013. PHOTO: Wikimedia

A number of government ministers have been jailed for their part in protests against the government of Yingluck Shinawatra that crippled Bangkok and ultimately led to the 2014 military coup. Yesterday, the Criminal Court handed prison sentences to 29 former members of the People’s Democratic Reform Committee, some of whom were serving in the current administration.

Former politician and former deputy PM, Suthep Thaugsuban, has been sentenced to 5 years’ imprisonment for leading the protests against the Yingluck government during 2013 and 2014. Education minister Nataphol Teepsuwan has received a prison sentence of 6 years and 16 months, while the deputy Transport Minister Thaworn Senniam received a 4 year sentence. Buddhipongse Punnakanta, former Digital Economy and Society Minister, has been sentenced to 7 years’ imprisonment.

In total, 29 ex-PDRC members have been found guilty of charges including terrorism and insurrection and handed sentences from 4 months to 11 years. They are now barred from holding political office, meaning PM Prayut Chan-o-cha may be looking at a Cabinet reshuffle. He has held the position of PM since seizing power in the 2014 military coup that ended the PDRC protests.

SOURCE: Nation Thailand

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