Toronto is a strong real estate market, this is considered a "blow" of the Trump brand in Canada.

The failure of the Trump Tower in Toronto, a city that has been one of North America’s most buoyant real estate markets, stands out as a blow to the brand in Canada.

So Trump didn't own or build the property but his name didn't cut it and investors feel misled(sounds similar to the property that failed in Tiujuna I wrote about in the last paragraph of this post.)

Who did own the property?

Talon International Development, a real estate company owned by Alex Shnaider....who came to Canada as a teenager from Russia by way of Israel, is a longtime investor whose holdings have at various times included control of a steel mill in Ukraine and, for one season, a Formula One racing team.

.....To run Talon, Mr. Shnaider picked Val Levitan, a fellow Russian who, the appeal judges wrote, “had no previous experience in construction, hotel management or operations.”

A Trump lawyer says he can't be liable for the failure since he wasn't a party to the buyers' contracts. Language in the court of appeals decision may not agree:

The appeals court also ruled that a trial court could hear claims by buyers “based on oppression, collusion or breach of fiduciary duties,” for which Mr. Trump, Mr. Shnaider and Mr. Levitan could be held personally liable.

In the laugh out loud funny department, Trump's Organization responded to this mess by sending out a statement:

“This has been a record year for the hotel, and we look forward to its continued success.”

Here's the UnFirst Family-Elect at the ribbon cutting ceremony:

Since Trump likes to say he'll run the country like he runs his businesses, this is just another one of a hundred ominous signs for the future.

From the Boston Globe: So much for the B.S. that Ivanka won't be involved in her father's administration.

An informal adviser to Ivanka Trump is expected to join the White House. Goldman Sachs partner Dina Powell will be leaving the bank to take a role in the Trump administration, said a source close to the decision who was not authorized to speak publicly and spoke on the condition of anonymity. The source said Powell is expected to focus economic issues and policies relating to women and will work with Ivanka Trump and Kushner.

The Globe also reports Trump Org. will pay Ivanka a flat amount rather than continue to give her a share of the profits. The (un)magical logic of Trump:

The Trump team has said Ivanka Trump will divest some assets and will receive fixed payments rather than a share of the profits from the Trump Organization. She will also not be involved in the company’s Washington hotel. No details have been released on her financial arrangement with the lifestyle brand.

Transition officials also said Kushner will recuse himself from any matters impacting the Trump Organization. Richard Painter, who served as chief White House ethics counselor for President George W. Bush, said separation will be key because ‘‘all of her assets and income are attributable to him.’’

Painter added that if Ivanka Trump continues to have a financial stake in her business, then Kushner must recuse himself from areas that impact it, like foreign trade.

Shower time.