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Kushner’s ‘Times Square Dream’ real estate project is failing: report

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In 2018, Jared Kushner’s real estate empire was in serious trouble — 666 Fifth Avenue, which Kushner had purchased at the top of the market just before the financial crisis, was hemorrhaging money and unable to rent out all its space. The company averted disaster with a bailout from Brookfield Asset Management, a Canadian company with ties to the state investment fund of Qatar.

Now, according to Bloomberg News, Kushner’s company is in trouble again as yet another New York property is bleeding red ink.

In 2015, Kushner’s company bought the first six floors of the old New York Times building on West 43rd Street. The plan was to create an indoor amusement park accessible from Times Square, drawing in tourists.

Today, tenants include a bowling alley, a Guitar Center, and a sushi restaurant, all of which were there when Kushner Co. first bought the property, as well as National Geographic Encounter and Gulliver’s Gate, which charge over $30 for admission, are struggling to turn a profit, and are paying rent unreliably.

The upshot is that Kushner’s company doesn’t have anywhere near the revenue it projected when it took out a $370 million loan to buy the property. The company pushed much of the loss onto investors while using $59 million of the loan to pay itself. Its struggles have caused Wells Fargo to place it on their watchlist, and federal prosecutors investigated the property’s finances in 2017.

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Kushner has long been hailed as a genius by President Donald Trump, who put him in charge of a number of domestic and foreign policy projects. But his son-in-law’s record of advice has been terrible — indeed, Kushner originally told Trump to fire FBI Director James Comey, which resulted in special counsel Robert Mueller being appointed to investigate the president.


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Panicky Kellyanne Conway was forced to explain to Trump why his Twitter attack on Dem lawmakers was racist: report

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According to a behind-the-scenes report in the Washington Post, senior adviser Kellyanne Conway had to frantically explain to Donald Trump that his tweets attacking four Democratic lawmakers -- all of whom are women of color -- were racist and that he needed to walk them back.

The report states that Trump made the tweets early last Sunday and then was greeted by Conway with bad news after he returned from playing golf.

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Tens of thousands march again in huge Hong Kong anti-government rally

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Hong Kong witnessed another huge anti-government march on Sunday with seemingly no end in sight to the turmoil engulfing the finance hub, sparked by years of rising anger over Beijing's rule.

The city has been plunged into its worst crisis in recent history by weeks of marches and sporadic violent confrontations between police and pockets of hardcore protesters.

The initial protests were lit by a now-suspended bill that would have allowed extraditions to mainland China.

But they have since evolved into a wider movement calling for democratic reforms, universal suffrage and a halt to sliding freedoms in the semi-autonomous territory.

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Racism, Inc.: How Donald Trump profits from xenophobia

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Several of the headlines emerging from the fallout of President Donald Trump’s recent racist behavior claim that fascism is coming to America. It’s perplexing to read them, because they seem to suggest that there is something new to the blatant and unapologetic racism and xenophobia of the Trump camp.  But there really is nothing new here.  No surprises whatsoever.  Just Trump and his team and his supporters doing exactly what they have been doing since before he announced his candidacy in June 2015.

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