Poll

7 votes (41.17%)
6 votes (35.29%)
3 votes (17.64%)
No votes (0%)
1 vote (5.88%)
2 votes (11.76%)
8 votes (47.05%)
4 votes (23.52%)
No votes (0%)
6 votes (35.29%)

17 members have voted

MaxPen
MaxPen
Joined: Feb 4, 2015
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Mission146
March 3rd, 2018 at 12:17:58 PM permalink
Quote: beachbumbabs

Saw an interview taped about 25 years ago, where he told a story on himself in the "I'm such a clever guy, I pulled THIS off" way.

Taj build was dead. Dusty huge lot sitting idle. He was broke and overextended, notes due. But he had a Fish in the line. He booked a lunch at the finest restaurant in AC that overlooked the work site from a high angle, and made sure they were seated at the window.

He spent money that he didn't have, for just that day, and hired several large construction machines (graders, concrete drum trucks, whatever) and a bunch of day laborers. Handed them tools and hard hats, and told them all to look busy and productive.

So the guy showed up, Trump showed him what and where in great detail while they ordered and ate, busy busy busy worksite, acted like he had all the money he needed, just wanted to treat him to a good lunch. They guy talked Trump into "letting him invest".

He, along with the rest, lost his investment (I'm told) in one of the bankruptcies.

Told me EVERYTHING I ever wanted to know about Trump. I wish it had told those of you who still buy his bs. We don't need this guy.

Fwiw, heard yesterday there's a story Ivanka used to tell. Ivanka was 8 so whatever year that was. She came out of a Trump property with her dad, going somewhere, and just outside the door was a homeless man on the sidewalk.

"See that man, Ivanka?" Trump asked, pointing him out. "Well, he's 8 billion dollars richer than your daddy."

How much of a con man do you have to be, to have gone 8 billion in the hole? How bad of an actual businessman do you have to be, to have resources and investors like that in the early 90s and be that far upside down? And he didn't even pay his contractors and employees! Labor is generally 35-60% of overhead, depending on the business. Where did the money go?



The number is closer to 800 million than 8 billion.....lol.....but don't let that get in the way of the delusions.

One of the largest creditors was Charles Ichan in 1991......I think that guy is perfectly able to take care of himself. For as many businesses as Trump has been involved with his bankruptcy stats are pretty low. Strategic bankruptcy practice is a staple of any good business persons toolbox.
BlackjackPro.......RIP
billryan
billryan
Joined: Nov 2, 2009
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Mission146
March 3rd, 2018 at 4:11:35 PM permalink
Speaking of Ichan, it came out that he sold $31 million dollars worth of stock in early Feb. in companies that were greatly affected by Trumps idiotic tariffs last week.
Icahn was a Trump advisor until resigning due to potential conflicts of interest.
Tanko
Tanko
Joined: Apr 22, 2013
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Mission146
March 4th, 2018 at 9:29:02 AM permalink
Quote: beachbumbabs

"See that man, Ivanka?" Trump asked, pointing him out. "Well, he's 8 billion dollars richer than your daddy."



He's anywhere between +$10 and +$18 billion since. Quite a comeback.

TumblingBones
TumblingBones
Joined: Dec 25, 2016
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Mission146
March 4th, 2018 at 10:42:17 AM permalink
About 15 years back I had a conversation with a limo driver that pretty much told me what kind of person Trump is. He said all the limo operators tried to avoid any type of business relationship with Trump properties because he couldn't be trusted to pay his bills or live up to any contract. His rep in AC was "screw the little guy". You can argue that any big investor buying a 14% junk bond should have known better and doesn't deserve much sympathy. But what about all the small/family-owned businesses he shafted? Check out (for example) this article in the AC press. You can bury your head in the sand and say all you want about fake news but this matches 100% with what I was hearing long before Trump entered politics.
My goal of being well informed conflicts with my goal of remaining sane.
MrV
MrV
Joined: Feb 13, 2010
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RogerKintMission146
March 4th, 2018 at 11:10:21 AM permalink
Interesting how Putin chose this moment to announce his "super weapons."

With Trump in his hip pocket Syria and Ukraine are probably just the beginning.

The Russian Bear is on the move.

Oddly enough, I don't view them as being "the Evil Empire" any more than the US could be so categorized.
"What, me worry?"
billryan
billryan
Joined: Nov 2, 2009
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Mission146
March 4th, 2018 at 3:23:15 PM permalink
Quote: TumblingBones

About 15 years back I had a conversation with a limo driver that pretty much told me what kind of person Trump is. He said all the limo operators tried to avoid any type of business relationship with Trump properties because he couldn't be trusted to pay his bills or live up to any contract. His rep in AC was "screw the little guy". You can argue that any big investor buying a 14% junk bond should have known better and doesn't deserve much sympathy. But what about all the small/family-owned businesses he shafted? Check out (for example) this article in the AC press. You can bury your head in the sand and say all you want about fake news but this matches 100% with what I was hearing long before Trump entered politics.



Ac, Longport, Margate, Ventnor and Pleastantville are littered with empty businesses trump ruined.
Contractors not paid, suppliers not paid, purchase orders not honored. As mentioned, trump casinos had to use limo operators from NY because Joisey based limos got tired of not being paid.
There is a great write up of a piano dealer who almost lost his family business because he sold Trump a bunch of pianos and never got paid.
Gandler
Gandler
Joined: Jan 27, 2014
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June 10th, 2018 at 4:39:58 AM permalink
When the Taj was built it was the biggest Casino not only America, but also the world. Terrible business decision (borrowing something like 1.5 billion at 14%), but at that point it was more about the publicity and making history than making money.

Like Trump said, AC lost a lot of its magic after he left.

Trump laid the pathway for a lot of future casinos if nothing else.
"Whatever is my right as a man is also the right of another; and it becomes my duty to guarantee as well as to possess. -Thomas Paine

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