I still think it’s funny that people say it is successful. It has bankrupt more than just a casino, but the fact that it bankrupt a casino is just hysterical.
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Built a casino without securing finance. Panicked and borrowed from the bond market at a ridiculous interest rate. Fail to plan, plan to fail. Very stable genius.
That's because it has been conducting shady business practices all along. It walked away with something while leaving others high and dry. Learned from the start from his shady ass father and a few others along the way.
The only reason he still managed to get rich was because for years, he pocketed the money he didn't pay contractors for services rendered; contractors who couldn't afford years of lawsuit delays, his usual m.o.
His companies declared bankruptcies - the fraudster never declared personal bankruptcy!
Buy buildings cheap & hire contractors to complete repairs.
Then refuse to pay contractors & threaten to sue them.
When no contractors will work you, declare bankruptcy.
Rinse and Repeat.
Is this not what actually happened in Atlantic City?
For those unaware, his casino(s) went bankrupt because of his terrible business decisions.
Donald borrowed huge sums to pay for lavish renovations. Between the cost to service all that debt and the ongoing operating expenses, there was no way they could generate enough revenue to turn a profit.
Well, it was an achievement of sorts, as it is presumably quite a difficult thing to do, unless someone is extremely bad at their job. But I would have thought it highly unlikely to be an actual recommendation for a Presidential candidate! 😟🤔???
🦋He's such a failure and loser as a buisness man ... and a man...he's managed to bankrupt 3 casinos. The Trump Plaza and Casino, The Trump Taj Mahal, and the Trump Entertainment Resorts. Nearly impossible to bankrupt one..much less 3 but he did it...and he's now bankrupting America 🇺🇸
It's easy. When you are doing it on purpose.
1 build it up
2 sell majority interest to investors, but maintain operational control
3 run it into the ground while robbing it blind
4 declare bankruptcy,
covering the malfeasance leaving the investors holding the bag.
Yep. The world gets dumber every time someone makes the argument that he's a failed businessman because he did this. He's not a genius, but he's also not as much of an idiot as they think. The tactic is EVIL, as the rest of us wind up paying, not idiotic.
The only real business Trump has ever run is money laundering for the Mob. His father laundered money for the Mafiosi, Don the Con launders money for the Russians.
Real estate is perfect for money laundering because a) large sums can be moved, and 2) nobody asks the source of the funds.
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NOT ALWAYS THE LOUSE THO'.
His companies declared bankruptcies - the fraudster never declared personal bankruptcy!
The Trump Taj Mahal.
Think about that.
He named his casino after a great big masoleum.
Buy buildings cheap & hire contractors to complete repairs.
Then refuse to pay contractors & threaten to sue them.
When no contractors will work you, declare bankruptcy.
Rinse and Repeat.
Is this not what actually happened in Atlantic City?
Donald borrowed huge sums to pay for lavish renovations. Between the cost to service all that debt and the ongoing operating expenses, there was no way they could generate enough revenue to turn a profit.
Vodka
Steaks
A so-called University
Cologne
Literally, his only business that didn't go bankrupt (yet) is whatever the latest one it.
1 build it up
2 sell majority interest to investors, but maintain operational control
3 run it into the ground while robbing it blind
4 declare bankruptcy,
covering the malfeasance leaving the investors holding the bag.
The only real business Trump has ever run is money laundering for the Mob. His father laundered money for the Mafiosi, Don the Con launders money for the Russians.
Real estate is perfect for money laundering because a) large sums can be moved, and 2) nobody asks the source of the funds.
Anyone can be successful if you don’t pay contractors for work done
In addition to running it poorly, lots of murders at his casino was not very good for business…
He kept getting dinged for questionable by the gambling commission and eventually had to cut and run before they could open deeper investigations.
Pretty similar to how he avoided consequences in his charity scams.
☮️