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“That is why New Yorkers should be concerned. The fine people of New York should ask themselves, why are we a loser state? How are we going to attract business? It is not just the existing businesses moving to Texas and Florida; what about new money that I’m talking about, like a four billion-dollar data center? Not a chance I would put that in New York,” O’Leary added.
He concluded, “They have a lot of work to do to find themselves getting out of the situation, and this has occurred post-pandemic. It’s winner versus loser states; look at Tennessee, the fastest growing city in Nashville, with good policy and competitive taxes. You gotta start thinking about this in the context of winners and losers. New York is a mega loser state.”
ALERT! Major Water Restrictions In Effect!
Even yet, O’Leary stated in an appearance with “Fox & Friends Weekend” that it’s not always about Trump.
“Forget about the Trump factor,” he said. “It’s not about that. What does this say to everybody that wants to do work in New York and wants to risk capital? … this judge arbitrarily decide[d] that this is the right amount. I don’t understand it. No developer does.”
He added, “It’s an atrocity. It’s an embarrassment, but it’s an assault on real estate.”
As O’Leary said, very few industries provide as much cash flow as the real estate industry. He maintained that the actions for which Trump was found accountable are not notably different from the typical “haggling” that takes place between a bank and a prospective debtor.
“You go to a bank, and you say, ‘Look, I want to borrow $200 million to build a building’. And they say, ‘What assets do you have that we can secure this loan against?’ And you point to a building you built before, and you haggle, and you argue about the value of that building,” O’Leary said.
