Trump is a Winning Machine

oh come now... they made some cuts...


to stuff that helps average people or nature so that the war complex and rich dudes could get even MORE!

 

That’s the whole thing I wanted from trump I just dont know if we will ever get out of our tribalism. Seems like people are happy on both sides to say it’s trump and not their party. How anyone could ever vote for any of these morons is beyond me. Total tribalism they say deficit is huge wars are bad but they go year after year and put the same person back in it will never stop until we are falling apart and then it will just turn into civil war.

 

NO, you dummy. I'm giving you an example of extreme Presidential behavior. Maybe someday we'll have a person that runs for President who's not a nut case or a Mr. Milquetoast. Probably won't get elected though.

 

Funk, come on now. Who do you think is calling the shots with Trump's businesses? No one employed by Trump can even fart without his approval.

 

You seriously think he’s calling every shot in 500+ ventures? Come on now, yourself. That must mean that they’re all just wandering aimlessly without anyone steering the ship now that he’s not involved in every decision that’s made every day since he took over the Presidency.

But even so, none of that would change the statement that he has never personally declared bankruptcy. Why is that so difficult for people to get? A miniscule amount of his business ventures have utilized a tool to reorganize by declaring bankruptcy, as allowed.

 

No, he has not called the shots in every one of those businesses but he certainly called the shots in the ones that failed and declared bankruptcy (those are two different categories, the “failed” you are just glossing over). Part of the reason he doesn’t call the shots on all those businesses is because many are just businesses on paper (a la the one that was created specifically to pay off Stormy).

With the businesses that did declare bankruptcy (there were 6, not 4 and while you are absolutely correct that they make up a small percentage of his overall businesses, they accounted for close to 2 billion in 1990’s dollars – look up his net worth at the time and calculate out what those bankruptcies were in relation to that and the percentage changes dramatically). If you were on a VC team and you presented Trump as someone “who has a small percentage of businesses go bankrupt” and your teammate presented him as someone who had a significant amount of his fortune tied up in bankruptcies – who do you think they’re going to go with (and how long do you think you’d keep your job?).

You’re purposely making it sound like it was a master stroke of business acumen when it was in fact, ridiculously bad judgement and decisions by himself that lead to it (it’s a matter of public record so that’s not an opinion). They involved using high interest leverage that he had to personally collateralize with his own money (not his businesses – which should tell you something) which was done in direct contrast to what he promised (not using high interest junk bonds) that had to be utilized because the people who come up with algorithms on whether there’s a reasonable chance that they would recoup and make money came to the conclusion that they wouldn’t (their predictions speak for themselves on those deals). Add on top of it, if he was such a good business man (in those instances) and had created a reputation (not on TV and in the papers) as someone who makes people money, he’d have no reason to file because people would be lining up to give him money so bankruptcy wouldn’t even have to be an option (have you seen how much the Kushner companies have received in loans recently while being in similar financial trouble with high interest payments that are due?)

And lets not even get into the calculations of “worth” – if you’re leveraged to the point where you interest payments are greater than your profits and your dad has to make millions in off the books loans to prop up your balance sheet. . .

Businesses don’t file bankruptcy because it’s a “good business option”. . .they do it because they have fucked up so badly that no other option exists. He was on the hook for billions (not inflation adjusted) and even at .50 on the dollar, once those many zeros are involved, they’re not zeroing it out (which is the definition of being a shitty businessman for all involved and I promise you nobody made their careers on the money end of those deals with him).

He’s a brilliant salesman and marketer. No question. He's used those skills to sell people on why he was so smart to do it while getting them to ignore his shitty acumen that caused it in the first place. . .

 

Hate much?

 

And yet not a single bit of that refutes anything in my original & ongoing statement ... he has never personally declared bankruptcy. A tiny percentage of his business ventures have. I will say, I’m curious where you’re getting 6. Literally everything I’ve read until your post lists it at 4. He certainly isn’t the greatest business man of all time. Not even in the discussion. However, no one can refute the fact that he IS a successful one.

 

Bankruptcy No. 1: The Trump Taj Mahal, 1991

Trump’s first bankruptcy may have hit the businessman, personally, the hardest, according to news reports.

He funded the construction of the $1 billion Trump Taj Mahal casino in Atlantic City, N.J., which opened in 1990, primarily with junk bonds at a whopping 14 percent interest. A year later, the casino was nearly $3 billion in debt, while Trump had racked up nearly $900 million in personal liabilities. So Trump decided to file for Chapter 11 reorganization, according to the New York Times.

As a result, Trump gave up half his personal stake in the casino and sold his yacht and airline, according to the Washington Post.

Bankruptcy No. 2: Trump Castle, 1992

Within a year of his first Chapter 11 filing, Trump found himself in bankruptcy court again for Trump Castle, which opened in 1985. It was his "weakest gambling hall," according to the Philadelphia Inquirer, and ironically faced competition from Trump Taj Mahal. In March 1992, the Castle filed a prepackaged bankruptcy plan, and Trump gave up his 50 percent share in the casino for lower interest rates on $338 million worth of bonds.

Bankruptcy No. 3: Trump Plaza and Casino, 1992

The Trump Plaza Hotel and Casino in Atlantic City, which opened in 1984, declared bankruptcy at the same time as the Castle. A $210 million joint project of Trump’s and Harrah’s, the casino had racked up $250 million in debt by 1992, after a staggering 80 percent decline in cash flow. So Trump Plaza filed for prepackaged bankruptcy that spring as well.

Bankruptcy No. 4: Plaza Hotel, 1992

Later that year, Trump filed bankruptcy on another Plaza, this one in New York. Trump purchased the Plaza Hotel in Midtown Manhattan for $390 million in 1988, but it accumulated more than $550 million in debt by 1992. In December 1992, Trump relinquished a 49 percent stake in the Plaza to a total of six lenders, according to ABC News. Trump remained the hotel’s CEO, but it was merely a gesture; he didn’t earn a salary and had no say in the hotel’s day-to-day operations, according to the New York Times.

Bankruptcy No. 5: Trump Hotels and Casinos Resorts, 2004

Trump Hotels and Casinos Resorts filed for bankruptcy again in 2004 when his casinos -- including the Trump Taj Mahal, Trump Marina and Trump Plaza casinos in Atlantic City, and a riverboat casino in Indiana -- had accrued an estimated $1.8 billion in debt, according to the Associated Press. Trump agreed to reduce his share in the company from 47 percent to 27 percent in a restructuring plan, but he was still the company’s largest single shareholder and remained in charge of its operations. Trump told the Associated Press at the time that the company represented less than 1 percent of his net worth.

Bankruptcy No. 6: Trump Entertainment Resorts, 2009

Trump Entertainment Resorts -- formerly Trump Hotels and Casinos Resorts -- was hit hard by the 2008 economic recession and missed a $53.1 million bond interest payment in December 2008, according to ABC News. It declared Chapter 11 in February 2009. After debating with the company’s board of directors, Trump resigned as the company’s chairman and had his corporate stake in the company reduced to 10 percent. The company continued to use Trump’s name in licensing.

^ yeah. . .cause that's so personal that any good business person would consider those six examples a bang up job. . . .

Care to give some real world examples of where you've personally dealt with people with that track record and made shit loads of money. . . .

 

Funk, you are definitely right about everything you have stated. . . but would you be willing to risk your employment on the facts you're right about in the real world pitching 9 to 10 figure funding?

 

Cheese-n-Rice

 

Hell no. I don’t have the stomach for any of that shit. That’s why I’ll always be the lacky working for the man.

Interesting read on the 4 v 6, though. Until I specifically googled that, all the articles I saw listed it as 4. It would appear they’re combining the 3 into 1 when they filed all 3 in March of ‘92. Learned something new. :up:

 

I'm shocked (not really) that you of all people couldn't figure out that when it comes to multi-billion dollar deals. . . that was the extreme cliff notes version.

 

http://video.foxnews.com/v/5757737533001/?playlist_id=1794108333001#sp=show-clips

 

Yeah, so how many billion dollar deals have you done?
You’re so extreme. Let me know when you do your first million dollar deal.

 

God damn you're an idiot.

None to your first question - late 20's was the first one to your last sentence. Same sentiment would apply for it being the cliff notes version for million(s) dollar ones. Are you really saying that wasn't the cliff notes version of multi-billion dollar deals or are your feelers just hurt because you look stupid again? (you do realize you do it to yourself and that if you didn't let your emotions control you you could get in front of that shit)

 

I don't agree with her that he had no choice. He had too much of a hard-on for building up the military in one big shot.

 

You're so pathetic.

Six ventures. In the extremely volatile gambling and hospitality industry. In how many years? How many successes?

He may not be Midas, but he sure as fuck ain't Madoff.

 

Oh now I’m the one letting emotions take control. Too much.

I’m also not the one going on and on and on blabbering BS about billion dollar deals that you have zero experience with. Do you get paid for each word that you type or are you incapable of making any distinct point with out diarrhea posting.