Now, it s the same with his latest embarrassing failure : the sale of his Trump Plaza casino and hot

During the Presidential race of the last two years, I laughed every time some Tea Partier or so-called conservative blindly gushed over Donald Trump and lectured me that he should cheap philippine airline ticket be the Republican nominee because he knows how to run a successful business. I wondered if these people ever read a paper or ingest a single iota of info beyond propaganda and talking points. Aside from the fact that Trump has no ideology or principles to speak of (other than Look at me and my Saddam Hussein Palace-style cheap philippine airline ticket apartment! ), the guy is a failure as a businessman. Most of his businesses other than his self-promoting, boring The Apprentice are failures.
The guy is only still in business because, cheap philippine airline ticket at one time, he was too big to fail. Those gushing over Trump forget that at one time he was the world s largest debtor. He was going to file for bankruptcy, but his creditors would lose so much, they couldn t afford to let that happen. Instead, they put him on a budget of only $400,000 a month and tried to put things back in order, which isn t exactly what happened. But they were left holding the bag, and Trump was laughing all the way to the bank. And this is aside from the fact that Trump s father gave him $100,000 to start his business cheap philippine airline ticket empire, at a time when that was real money and equivalent to a million dollars cheap philippine airline ticket today (or more).
Now, it s the same with his latest embarrassing failure : the sale of his Trump Plaza casino and hotel in Atlantic City at a discount of 90% from the $210 million it cost to build back in 1984. In today s dollars cheap philippine airline ticket versus 1984 dollars, the discount is more like 98% off. Normally, a casino like that should be worth more than a billion, maybe even multi-billions. But Trump ran it . . . into the ground.
The paltry sale price of Trump Plaza should be a huge embarrassment to Donald Trump. He s clearly NOT a success in business. He s a failure. The Apprentice is really what s keeping him and his business name afloat. And his phony flirtation with conservatism (he s not a conservative and supported Obama in 2008). Trump will collect big bucks in a few weeks, when he speaks in Novi, Michigan, a Detroit suburb, at the Oakland County Republican Lincoln Day Dinner.
But it s not an embarrassment for Trump. Nothing is. The multiple wives and out-of-wedlock girlfriends weren t an embarrassment for him in the days when societal conditions still made that embarrassing and a source of shame. His failure and near-bankruptcy wasn t an embarrassment. And his ever-changing, chameleon-like political views aren t embarrassing to him.
Trump Plaza, the Boardwalk centerpiece of Donald Trump s one-time Atlantic City empire, was sold Thursday to a California cheap philippine airline ticket company cheap philippine airline ticket for $20 million in the cheapest of a series of bargain-basement deals for distressed gambling halls in the struggling New Jersey seaside resort.
The Meruelo Group of Downey, Calif., plans to close the deal by May 31. It is the lowest price ever paid for a casino in Atlantic City. . . . Trump Plaza, which cost $210 million to build, opened in May 1984 as one of Donald Trump s pet projects. The real estate mogul has since limited his dealings in Atlantic City.
The sale leaves the company he once ran, Trump Entertainment Resorts, with just one casino, the Trump Taj Mahal Casino Resort. The company sold the former Trump Marina to a Texas company cheap philippine airline ticket that rebranded it as the new Golden Nugget in 2011. . . . Trump Plaza has struggled mightily in recent years, despite its central location. It has become the worst-performing casino cheap philippine airline ticket in town in terms of casino revenue. Last month, Trump Plaza took in less than $4.9 million, a decline of more than 40 percent from a year ago.
Sadly, gushing Republicans, conservatives, and the entertainment media, including FOX News, treat him that way. They not only ignore his long list of epic business failures, but they ignore things he s done, like fawning over 9/11-enabling Dubai, his engineering of a Muslim Hezbollah supporter to be picked as Miss USA (and refusing to allow media to ask her about it), his continued alliance and promotion of anti-Israel, anti-Amerian Farouk Shami and Shami s CHI hair products , and his hosting of Muammar cheap philippine airline ticket Qaddafi on his property .
I have to admit that I enjoyed Trump s feuds with Rosie O Donnell and Michelle Malkin, a complete and utter fraud (he had the better of both of those morally equivalent whiners). But Donald Trump is a fake and a phony, just like Fraudkin. The Trumperor wears no clothes. And he just sold them to the Salvation Army for a 98% discount. Mitt Romney really was a successful businessman. cheap philippine airline ticket Donald Trump is that strictly in his own mind and in media hype.
Maybe, some day, people will wake up. For now, the next season of The Apprentice is about to start and a man who just failed miserably for the nth time is going to lecture others on how to be successful in business.
Fourth, like most rich people, he does not put much of his own money into projects, at least not anymore. He plays with investor s money, if he follows the pattern of most real estate mongrels, err, moguls.
Additionally, you are giving this scumbag way too much credit as a human being. He has a habit of cheating working people out of money. When the Trump Casino was built, he hired a small painting company to paint much of the facility. The contract was for $800,000 (alot of money, then). When the job was done, he told the painting contractor that he was only going to pay him $400,000, and if he wanted to sue, he would tie him up in court for years. The painting contractor could not afford to be held up in court, so he took what Trump gave him.
Similarly, the threat of bankruptcy was used to cheat his creditors. In fact, Trump had put up his personal assets as collateral, and a federal judge refused that part of the contract with the creditors, when some sued him (Trump s sister is a Federal Judge).
Trump has a pattern of treating working people like garbage. If you live in one of his middle class apartment buildings cheap philippine airline ticket in NY that his father built, don t expect standard building maintenance, unless you are willing to pay a whopping rent increase.
In 2004, Trump Hotels Casino Resorts explored various options for restructuring its debt, amid speculation that it might file for bankruptcy. A possible arrangement with Credit Suisse cheap philippine airline ticket First Boston was not completed because the bondholders rejected it.[11]
On October 21, 2004, the company announced a preliminary agreement with its investors. Trump, who has been the majority owner, would reduce his stock ownership from 56 percent to 27 percent. Bondholders cheap philippine airline ticket would surrender some of their debt in exchange for stock. On October 27, the company announced that Morgan Stanley would be the joint lead arranger for a financing of $500 million financing as part of the restructuring plan. On November 21, the company filed for bankruptcy. Trump said the filing was really cheap philippine airline ticket just a technical thing as the best way to implement the restructuring plan.[12] The plan was submitted to the Bankruptcy Court on December 16, 2004.
On May 18, 2007, the company announced that it was in the preliminary stages of negotiating a buyout with several public and private firms. On July 2, 2007 Trump Entertainment Resorts announced that they could not make a deal with any company that they were in talks with and decided to take itself off the market. The company planned to lay off employees in order to cut costs.[13]
The casino group filed for bankruptcy for the third time in February cheap philippine airline ticket 2009 [14] owing $1.2 billion. Two sets of debt holders eventually proposed reorganization cheap philippine airline ticket plans for the group in U.S. bankruptcy court.
Trump initially made an agreement with banker/high-stakes poker player Andrew Beal, owner of Beal Bank, which held $500 million in the group s debt, to take over the resorts. However, citing concerns about the bank s experience with gaming, he dropped them in favor of the hedge fund Avenue Capital Management, a plan favored by other bond-holders. Beal then partnered with investor, Carl Icahn, who had worked on restructuring another Atlantic City casino, the Tropicana. [15] In court, Trump argued that he would fight the Icahn/Beal team if they sought to use his name and likeness on the group s properties. [16] Instead he signed cheap philippine airline ticket an agreement with Avenue Capital in which he would receive 5% stock in the reorganized company and another 5% in exchange for the use of his name and likeness in perpetuity.
Judith H. Wizmur, Chief Judge of the United States Bankruptcy Court for the District of New Jersey, eventually sided with the Trump/Avenue partnership, favored by bond holders who believed cheap philippine airline ticket that Trump s brand would result in a stronger company after reorganization. [17]
In February 2013, the company agreed to sell the Trump Plaza for $20 million to the Meruelo Group, a California-based company whose holdings include the Grand Sierra Resort in Reno. The proceeds would be used to pay down the company s debt to a level of $270 million. CEO Robert Griffin said TER would consider also selling the Trump Taj Mahal for the right price.[18
Donald Trump is successful b/c he isn t a risk taker; he plays it safe. That said, Jon s right the man is a lousy human being who treats cheap philippine airline ticket others like dirt. There isn t much else to him besides cheap philippine airline ticket his wealth and his fame.
Sorry, Norm, but most people who become rich did so not by inheriting money, but by their brains. Steve Jobs, Bill Gates (whose father was as banker, but still did wonders cheap philippine airline ticket on his own), Hewlett and Packard, Henry the anti-Semite Ford, etc.
Additionally, real estate is perhaps the best way to get rich because they are not making any more land. I know of a number of people who grew fabulously wealthy in real estate development in the DC area. In fact, most very successful people in the DC area got rich on real estate.
That said, Trump is still a low class scumbag. I forgot to mention how he developed a gold course in Loudon Virginia, cheap philippine airline ticket and cut most of the trees on his land near the Potomac River, t