we talked to arnold donald who runs carnival corporation, that s the biggest cruise operator on the planet. where ever yourjoining me from around the world, once again, a big hello and a very warm welcome to the show. you know, it seemed like it was a another time, two years ago as a threat of covid became obvious one cruise ship, the diamond princess went into lockdown as the world watched. passengers, they were held for two weeks as the virus spread throughout the ship, infecting more than 700 onboard. shortly after, the world closed down and tourism industry suffered the worst crisis in its history. take a look at this, this was the heart of venice during the middle of the pandemic, not a tourist sight. and from an empty st. mark s square in venice to in empty trafalgar square in london, holiday makers and business passengers stopped flying and the hospitality industry ground to a halt. let s just take a look at the impact. in 2019, before the pandemic hit global tourism d
player in the sector and getting his view on where the industry is at. the tremendous excitement and the reason the tremendous excitement and the reason is the tremendous excitement and the reason is because we are coming back reason is because we are coming back we reason is because we are coming back. we will have all of our ships sailing back. we will have all of our ships sailing hy back. we will have all of our ships sailing by the end of this year, we are looking sailing by the end of this year, we are looking at a path to positive or earnings are looking at a path to positive or earnings in are looking at a path to positive or earnings in the third quarter. after almost earnings in the third quarter. after almost two earnings in the third quarter. after almost two years of generating losses almost two years of generating losses being paused and no operations. the joy and the lignite in the operations. the joy and the lignite in the guest eyes, the joy in
though the building s market value is going up. if trump can add up enough on-paper losses year by year, he can basically erase his taxable income from the property itself and even income from other trump operations, like licensing, leasing, and tv reality shows. money, money, money, money reporter: real estate expert richard lipton says it wouldn t be surprising if all these paper losses reduced donald trump s federal income tax to zero. so if you re running a tv show, call it the apprentice, and you have real estate and it s generating losses, the tax losses from the real estate can be used to offset the income from your tv show. reporter: and the losses can be huge, even when your income is huge. thus, in 1995, donald trump files a tax return with a $916 million loss, but still, apparently, lives like a king. don t blame trump, says tax
income from the property itself and even income from other trump operations, like licensing, leasing, and tv reality shows. money, money, money, money reporter: real estate expert richard lipton says it wouldn t be surprising if all these paper losses reduced donald trump s federal income tax to zero. so if you re running a tv show, call it the apprentice, and you have real estate and it s generating losses, the tax losses from the real estate can be used to offset the income from your tv show. reporter: and the losses can be huge, even when your income is huge. thus, in 1995, donald trump files a tax return with a $916 million loss, but still, apparently, lives like a king. don t blame trump, says tax analyst and journalist lee shepard, blame the politicians who wrote the rules to benefit big developers. that s why we say that