christiefan915
Catalyst
I think it was three business bankruptcies and one personal.
The Donald would not a good president make
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I think it was three business bankruptcies and one personal.
DamnYankee
Loyal to the end
According to his long form birth certificate that he released he was born in NYC.
The address of the hospital that issued the birth certificate:
Jamaica Hospital
8900 Van Wyck Expressway #1st
New York, NY 11435
(718) 206-6039
It's a bit silly to let your excitement run away with you...
LOL! Trump can't be prez... he was born in Jamaica... lol!!!
That ain't a birth certificate. I think the Trumpster did release his actual birth certificate (or what he says is a copy of it) but that ain't it. I think that's the one he released at first until people pointed out that it was the wrong thing and he pulled "I meant to do that" while everyone pointed and laughed.
signalmankenneth
Verified User
Donald Trump A Joke Candidate!!!
Billy the Great Khan
Uwaa OmO
One business bankruptcy and almost one personal.
christiefan915
Catalyst
On November 2, 1992, the Trump Plaza Hotel was forced to file a prepackaged Chapter 11 bankruptcy protection plan after being unable to make its debt payments.
After the company applied for Chapter 11 Protection in November 2004, Trump relinquished his CEO position but retained a role as Chairman of the Board.
On February 17, 2009 Trump Entertainment Resorts filed for Chapter 11 Bankruptcy; Trump having stated on February 13 that he would resign from the board.
http://en.wikipedia.org/wiki/Donald_Trump
christiefan915
Catalyst
Dixie - In Memoriam
New member
Regardless.... Let's go with 3 or 4 bankruptcies.... out of the DOZENS of businesses Trump has successfully built? That's like a 90% success rate, at least... not too bad, I would go to Vegas with those odds. Most uber-successful business people, have had some pitfalls, it comes with the territory... it is to be expected... you take risks... some pay off, and some don't.
It kind of does matter how many and what kind...it has been 3 chapter 11-all of which investors, and Trump alike, all came out well. We have a bankruptcy law in order to give good business's a chance in bad economic times to regroup and keep going. It's what the government should have made the auto industry and others do as well.
The bankruptcies reflect that his companies amassed too much debt and couldn't pay their creditors. How anyone, let alone a tea party supporter, can spin that as an asset in his presidential campaign is beyond me.
ID, two things: (1) in pretty much any bankruptcy proceeding the investors (shareholders) get fucked and (2) GM and Chrysler did go through Chapter 11 bankruptcy.
ID, two things: (1) in pretty much any bankruptcy proceeding the investors (shareholders) get fucked and (2) GM and Chrysler did go through Chapter 11 bankruptcy.
Dixie - In Memoriam
New member
That's a conjecture, you don't know what caused their failure. Yes, any bankruptcy is a result of being unable to pay creditors, but the cause of this can be many things, some of which are entirely out of anyone's control. No one is trying to "spin" anything here, just interject some common sense, since you seem to be lacking any... a failure or two, or three... at business, is NOT an indicator someone is BAD at business.
I suppose we can all agree that if would be better for Donald if his companies hadn't filed for bankruptcy three times and leave it at that.
I guess its only someone's fault if a company files for bankruptcy protection if there is a convenient liberal scapegoat kicking around somewhere. If only the blackjack dealers were unionized.
Edit: And the reasons for the bankruptcies are not conjecture. That's just what bankruptcy is.
cawacko
Well-known member
Trump went BK the way almost all real estate developers (or owners) do, they over leveraged. Well to be more specific they were over leveraged when the market turned downwards and interest rates went up. Very few long term developers have not gone BK or lost property throughout their careers. Real estate is all about using OPM, Other People's Money. Developers in the '80's were said to not be worth their salt if they couldn't borrow 100+% on a deal. That works great in a climbing market. Not so much when the market turns.
In the real estate world people aren't going to think any differently of Trump because he has past bankruptcies. Politics is a whole other animal.
Dixie - In Memoriam
New member
Well, yeah... it would be better for Trump if everything he had ever touched had turned to gold, but that's not realistic. Last year, I went to Vegas and won $10,000.... now, it would have been BETTER if I hadn't lost $2,500 the day before.... but still, it was okay.... same with Trump... it would have been BETTER if he hadn't gone bankrupt, but still... he's doing okay.
christiefan915
Catalyst
The first bankruptcy, he gambled with junk bonds and lost.
cawacko
Well-known member
Junk bonds are just higher interest loans. But as with any property if you can't meet you debt service you are going to be in trouble. That's what happened to the Taj Mahal.
Cancel 2018. 3
<-- sched 2, MJ sched 1
Who cares? Last I checked Obama wasn't pandering to the Tea Party fucks. Trump is. Allegedly, the Tea Party fucks are really really concerned about government debt so I find it odd that some support Trump who has a penchant for amassing serious debt that his companies are unable to repay.
cawacko
Well-known member
I don't care about Trump one way or the other and I don't think he's running for President but to claim one who wants government to reduce its spending and its debt can't support someone in real estate because real estate is all about leverage is ridiculous.
Being successful in real estate does not require a person to take companies through bankruptcy proceedings three times. It's kind of ridiculous to claim otherwise.