[Image]( EMAIL}/redirect WEDNESDAY, JANUARY 13, 2021 | KAREN MATTHEWS, ASSOCIATED PRESS NEW YORK (AP) â New York City will terminate business contracts with President Donald Trump after last week's insurrection at the U.S. Capitol, Mayor Bill de Blasio announced Wednesday. âIâm here to announce that the city of New York is severing all contracts with the Trump Organization,â de Blasio said in an interview on MSNBC. De Blasio said the Trump Organization earns about $17 million a year in profits from its contracts to run two ice skating rinks and a carousel in Central Park as well as a golf course in the Bronx. The city can legally terminate a contract if the leadership of a company is engaged in criminal activity, the Democratic mayor said. âInciting an insurrection â letâs be very clear, letâs say the words again â inciting an insurrection against the United States government clearly constitutes criminal activity," he said. A Trump Organization spokesperson said the city can't cancel the contracts. âThe City of New York has no legal right to end our contracts and if they elect to proceed, they will owe The Trump Organization over $30 million dollars," the spokesperson said in an emailed statement. "This is nothing more than political discrimination, an attempt to infringe on the First Amendment and we plan to fight vigorously.â The move to end Trump's business contracts in the city he formerly called home is the latest example of how the Jan. 6 breach by violent Trump supporters is affecting the Republican presidentâs business interests. The PGA of America voted Sunday to take the PGA Championship away from his New Jersey golf course next year, a move that came after social media platforms disabled Trumpâs accounts and Shopify took down online stores affiliated with him. De Blasio had said earlier that the city was examining its legal options to end the Trump contracts. He said Wednesday that city lawyers determined that if Trump sues over the move, the city would win. Trump âincited a mob to attack the Capitol,â de Blasio said, adding, âthe lawyers looked at it and it was just as clear as a bell thatâs grounds for severing these contracts and weâre moving to do that right away.â EMAIL}/redirect EMAIL}/redirect Jim Johnson, the head of the city law department, said the PGA's move to cut ties with Trump gives the city additional grounds to terminate the golf course contract. âOne of the reasons that he was given that contract was his ability to attract major golf tournaments,â Johnson said at a briefing with the mayor. After the PGA's action last weekend, Johnson said, âweâre entitled to and are invoking our provisions, our right to declare him in default." The split with Trump's namesake company won't happen immediately, though. De Blasio said in a news release that terminating contract to run the Ferry Point golf course in the Bronx is complex âand is expected to take a number of months.â EMAIL}/redirect EMAIL}/redirect Termination of the contract to run Wollman Rink and Lasker Rink in Central Park will take effect 30 days after written notice is delivered, de Blasio said. Termination of the contract to run the carousel, which is now closed because of the coronavirus pandemic, will take effect 25 days after written notice. The city will seek new vendors for all the attractions, the mayor said. Removing the Trump name from the rinks, carousel and golf course won't erase him from New York City. He will still operate Trump Tower on Manhattan's Fifth Avenue and the Trump International Hotel on Central Park West. Trump moved his official residence from Trump Tower to Florida in 2019. EMAIL}/redirect EMAIL}/redirect © 2020 PTE.la PTE, LLC (publisher of PTE.la) is NOT registered as an investment adviser nor a broker/dealer with either the U. S. Securities & Exchange Commission or any state securities regulatory authority. Users of this website are advised that all information presented on this website is solely for informational purposes, is not intended to be used as a personalized investment recommendation, and is not attuned to any specific portfolio or to any user's particular investment needs or objectives. Past performance is NOT indicative of future results. Furthermore, such information is not to be construed as an offer to sell or the solicitation of an offer to buy, nor is it to be construed as a recommendation to buy, hold or sell (short or otherwise) any security. All users of this website must determine for themselves what specific investments to make or not make and are urged to consult with their own independent financial advisors with respect to any investment decision. The reader bears responsibility for his/her own investment research and decisions, should seek the advice of a qualified securities professional before making any investment, and investigate and fully understand any and all risks before investing. All opinions, analyses and information included on this website are based on sources believed to be reliable and written in good faith, but should be independently verified, and no representation or warranty of any kind, express or implied, is made, including but not limited to any representation or warranty concerning accuracy, completeness, correctness, timeliness or appropriateness. In addition, we undertake no responsibility to notify such opinions, analyses or information or to keep such opinions, analyses or information current. Also be aware that owners, employees and writers of and for PTE, LLC may have long or short positions in securities that may be discussed on this website or newsletter. Past results are not indicative of future profits. This table is accurate, though not every trade is represented. Profits and losses reported are simulated figures from virtual simulated portfolios. We are engaged in the business of advertising and promoting companies for monetary compensation. All content in our releases is for informational purposes only and should not be construed as an offer or solicitation of an offer to buy or sell securities. Neither the information presented nor any statement or expression of opinion, or any other matter herein, directly or indirectly constitutes a solicitation of the purchase or sale of any securities. PTE.laâs sponsored advertisements do not purport to provide an analysis of any companyâs financial position, operations or prospects and this is not to be construed as are commendation by PTE.la or an offer or solicitation to buy or sell any security. Neither the owner of PTE.la nor any of its members, officers, directors, contractors or employees is licensed broker-dealers, account representatives, market makers, investment bankers, investment advisors, analyst or underwriters. Investing in securities, including the securities of those companies profiled or discussed on this website is for individuals tolerant of high risks. Viewers should always consult with alicensed securities professional before purchasing or selling any securities of companies profiled or discussed in our releases. It is possible that a viewerâs entire investment may be lost or impaired due to the speculative nature of the companies profiled. Remember, never invest in any security of a company profiled or discussed in a release or on our website unless you can afford to lose your entire investment. Also, investing in micro-cap securities is highly speculative and carries an extremely high degree of risk. To review our complete disclaimer and additional information, please visit . PTE.la makes no recommendation that the securities of the companies profiled or discussed in our releases or on our website should be purchased, sold or held by investors. PTE.la is owned and operated by PTE LLC. PTE LLC has not been compensated for this specific email, we do have advertisements in this email that we get paid if you click one of the ads (we have not investigated any of the advertisements). Any compensation received by PTE LLC constitutes a conflict of interest as to our ability to remain objective in our communication regarding the profiled company. A third party of PTE LLC may have shares and may liquidate, which may negatively affect the stock price. PTE LLC affiliates may at any time have a position in the securities mentioned herein and may increase or decrease such positions without notice which will negatively affect the market. Some of the content in this release contains forward - looking information within the meaning of Section 27 A of the Securities Act of 1 9 9 3 and Section 21 E of the Securities Exchange Act of 1 9 3 4 including statements regarding expected continual growth of the profiled company and the value of its securities. In accordance with the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 it is hereby noted that statements contained herein that look forward in time which include everything other than historical information, involve risk and uncertainties that may affect a company's actual results of operation. A company's actual performance could greatly differ from those described in any forward - looking statements or announcements mentioned in this release. Factors that should be considered that could cause actual results to differ include: the size and growth of the market for the company's products; the company's ability to fund its capital requirements in the near term and in the long term; pricing pressures; unforeseen and/or unexpected circumstances in happenings; etc. and the risk factors and other factors set forth in the companyâs filings with the Securities and Exchange Commission. However, acompanyâs past performance does not guarantee future results. Generally, the information regarding a company profiled is provided from public sources which we believe to be reliable but is not guaranteed by us as being accurate. Further specific financial information, filings and disclosures as well as general investor information about the profiled company, advice to investors and other investor resources are available at the Securities and Exchange Commission (âSECâ) website www.sec.gov and the Financial Industry Regulatory Authority (âFINRAâ) website at www.finra.org. Any investment should be made only after consulting with a qualified investment advisor and reviewing the publicly available financial statement and other information about the company profiled and verifying that the investment is appropriate and suitable. PTE.la makes no representations, warranties or guarantees as to the accuracy or completeness of the information provided or discussed. Viewers should not rely solely on the information obtained in this release or on our website. PTE Team 9 Downing street
Newark NJ 07105
USA [Unsubscribe]( [Change subscriber options](