Eric Trump on paying contractors: We pay ‘people when they do great jobs’

Sarah Paynter
Reporter

The Trump Organization has been criticized for stiffing contractors. Contractors have filed hundreds of complaints, which date back to the 1980s, alleging that the real estate company did not pay them.

“We believe in paying people when they do great jobs. And we get people paid incredibly quickly. And we pay contractors,” said Eric Trump, executive vice president of The Trump Organization at Yahoo Finance’s All Market Summit, adding that the organization only refuses to pay contractors who fail to complete a job.

“Yeah, well, they [the unpaid contractors] didn't finish a job. And they didn't do a good job. And they flaked out. And they were two months behind schedule. And so you had to let go of them. And you had to bring somebody else in to do the job that they otherwise would have. And it's called the real world,” he said, referring to the allegations. “People like to take cheap shots at us.”

Eric Trump’s defense echoes his father’s status quo response.

During the 2016 presidential debate, President Donald Trump said something very similar. “Maybe he didn’t do a good job and I was unsatisfied with his work,” he said in response to nonpayment accusations.

NEW YORK, NEW YORK - OCTOBER 10: Eric Trump attends the Yahoo Finance All Markets Summit at Union West Events on October 10, 2019 in New York City. (Photo by Jim Spellman/Getty Images)

Eric Trump also noted to Yahoo Finance that The Trump Organization has developed institutional knowledge about getting the best deals with contractors. “In New York, we know what contractors are going to be incredible, what contractors are going to — I won't use a word, but — take advantage of you,” he said. “And, you know, you have that institutional knowledge. You know your way around. You know the language. You know the laws. You know how things are built. You know what kind of foundations work in the ground.”

Sarah Paynter is a reporter at Yahoo Finance. Follow her on Twitter @sarahapaynter

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