How the Rich get Richer
This article is reprinted and does not necessarily reflect this blog’s view.
Australia’s Herald-Sun reports that Donald Trump’s first speaking tour of Australia is in “doubt after an Ipswich-based promotion company collapsed this week, leaving about 1500 ticket holders owed more than $1.5 million.”
Ever the gentleman, Trump is reportedly refusing to return the more than $1.5 million he’s already been paid and is even demanding more money. Malcom Quinn, the promoter behind the bankrupt firm that had booked The Donald, told The Sun that “He has provided no services for the moneys he has received and he has indicated to me in writing on two separate occasions that not only will he be keeping the funds he has received but expects to be paid the balance regardless of whether he does or doesn’t come out here.”
What went wrong? It turned out that Trump wasn’t the draw Quinn had hoped he would be. Tickets costing up to $2500 have been available since June but only a quarter of the seats have been sold. Ouch!
Here’s my theory about why so few people bought tickets to see The Donald: almost no one who has $2500 would be stupid enough to blow it on a meet and greet with a blowhard like Donald Trump.
But this saga also reveals a little bit more about Trump’s true personality: Mr. Quinn mortgaged his house to book Donald Trump for the event and stands to lose nearly everything — and Trump, who professes to be a billionaire, is holding out for more money for an event that didn’t sell.
What a jerk!
Well the writer of the article may well say that Trump is a jerk but I’ll argue this another way.
Quinn hired Trump to promote his event and to make him money. The fact that it appears that the event hasn’t attracted the expected audience is not really Trumnp’s fault. It’s Quinn’s. Quinn is the promoter and he is responsible for filling the seats.
Quinn priced the seats at $2500 and is now trying to blame Trump for not being a sufficient draw for people willing to pay that price tag.
Frankly, Trump is entitled to his fee plus some if his contract allows. None of us really knows what the contract said but if Trump and Quinn agreed an appearance fee plus other money then Trump would be within his rights to look for that money.
Quinn can whinge and whine all he likes. Business is like this sometimes…you take a gamble and sometimes it works and other times it doesn’t.
ngw101
October 4, 2008 at 10:53 am