Posted on 07/20/2019 1:49:02 PM PDT by Hojczyk
Pulte Capital CEO Bill Pulte argued on Saturday that President Trump changed the face of philanthropy, noting that he was able to raise thousands of dollars for veterans after the president retweeted him.
"I'm not sure many other presidents would have done it, and literallly with one tweet -- he calls it his typewriter, I call it his magic typewriter -- he literally punched a whole in the reality of philanthropy," Pulte told "Fox & Friends" on Saturday.
Pulte's comments came after Trump's help allowed him to buy a car for a combat veteran. He initially sent Trump a message on Twitter, pledging to give $30,000 to a Veteran if the president retweeted him.
Donald J. Trump ✔ @realDonaldTrump THANK YOU BILL! https://twitter.com/pulte/status/1149074767930187776 … Bill Pulte ✔ @pulte If @realDonaldTrump retweets this, I will give $30,000 to a Veteran on Twitter. @Scavino45 @DanScavino
"I was very pleased that somebody actually does listen," she said of Trump's retweet.
Pulte indicated that Trump's retweet also allowed him to raise $50,000 for a colonel in the military who lost all of his belongings in a fire.
Highlighting the importance of social media in philanthropy, Pulte noted that hundreds of people around the world were donating money to his causes. "This is really a phenomenon that has taken off virally and we intend to keep it going," he told "Fox & Friends."
(Excerpt) Read more at foxnews.com ...
CEO, Pulte Capital/Detroit Blight Authority
Pulte’s wealth comes from his grandfather, who founded Pulte Group, America’s largest homebuilder. But as founder of the nonprofit Detroit Blight Authority, Pulte’s focus is on tearing down vacant homes and clearing away blight in the bankrupt city. He ditched a degree in journalism to run Pulte Capital Partners, a private equity firm that invests in building products companies. It has $30 million in revenues, and 200 employees.
Here we have a glimpse of the post-Presidential Trump. Instead of second-guessing whoever follows him, I can see him using his massive following to accomplish some real good in the world.
Something wrong with the article.
You cannot have 200 employees on $30 million in revenues...
Ping.
“...grandfather, who founded Pulte Group, America’s largest homebuilder.”
I was wondering if that was the homebuilder Pulte.
Thanks for that info.
Something wrong with the article.Since you brought it up you must be privy to their finances. Do you care to breakdown their $30million in revenue to clarify your argument?You cannot have 200 employees on $30 million in revenues...
Scott Adams speaks highly of this guy.
Maybe they’re all minimum wage?
It’s about right if you are paying average salary/wage at 60k per year. Rule of thumb, double it for total business cost per employee means 120k per employee times 200 is 24 million per year. Leaves you a cool 6 million for materials, which you can garner an average of a third in profit for 2 million depending on the type of business.
My dad in the 80s and 90s had a water and sewer management operations and privatization business with contracts all over the USA and also in France and England and St Thomas usually smaller municipalities although we had two sizable Jackson Mississippi and Jefferson Parish
Revenues ran 20-40M
He had usually a plant manger and workers
Home office Murfreesboro TN had maybe 15 with secretaries and accounting and two VPs
Total employees could hit over 350-400
About 70% hourly and 20% plant management and 10 % executive
He sold the business in 1995 for 18 times net operating income
It was his home run deal of his life and he had made annually over twice what I do
So yes it can be done
He once told me sitting on the back deck how he dreamed of owning a hundred million dollar or more company as really making it till learned it’s more about his margin than revenue
He was quite happy with smaller revenues and fat margins
He had to kiss a lot of city council and public water and sewer departments rings
Those are pig pens with patronage jobs for relatives and payoffs
They had to be purged kicking and screaming
Why not?
Math
150,000 in revenue per employee won’t produce income that is sustainable for personal income, profits and return for the owners
The US has a $20T GDP.
The fact that Trump’s tweets let this guy solicit $80k doesn’t change the face of philanthropy.
Where in the article does it say the employees are earning $150,000 per year? Perhaps I'm missing something in your claim?
30,000,000 in revenues, divided by 200 = 150,000 in revenues per employee.
You have a total salary + the burdens of payroll taxes, insurance, benefits, meals, supplies and training costs.
Take Social Security for instance as a cost the employee does not see.
Let’s say the employee earns 50,000. They pay around 3,800. The employer pays the other half of the reuired balance or around 3,800.
Sure, it’s a tax deduction, as an expense but, it ain’t a credit
Rent for the building, computers, software and support. Furniture, cleaning services, electricity and a bunch of other miscellaneous expenses
Doesn’t leave much left over for profit
Most businesses have one employee per 500,000-1,000,000 in revenues.
That is not to say McDonald’s restaurants don’t have 75 employees for an operation that produces a million. They do.
However those are not full time, 40 hours per week employees. Most work less than 20 hours per week.
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