Posted: 5/18/2005 2:48:46 PM EDT
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I have to profess to my ignorance to the modern business atmosphere. Here are a couple of questions that I was thinking about last night at work. Is this guy continually emerging from bankruptcy? Why does it seem that not a year passes that I don't hear about him in bankruptcy in one form or another? How can he really seriously be considered a top in the business world? And finally, when he does continually file bankruptcy claims (I'm assuming there are creditors that are getting shafted) why do more people line up to do business with him? And now he wants to build a bigger/better WTC??? |
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Unlike folks like you and me, Trump has his life segemented thanks to entities. That means he has his money life in different little boxes. If something isn't working out he takes that portion bankrupt and strips off the problem. If it's a contract, or payment plan, or debt, it gets repaymented or stripped off in bankruptcy, and then he is off on the road to turning a profit with that operation again. Keep that in mind next time you read about bankruptcy reform. The reform is that Trump and every other businessman in American can keep being rich through bankruptcy, but normal middle class people with a serious problem can't strip off shit. |
No.
The press are idiots. That's why.
He is one hell of a developer.
Donald Trump has never personally filed for bankruptcy. Never. And if he builds it, it will actually be done on time and according to budget. His public companies and particularly his gambling enterprises don't do so well, but when he does what he does best (RE development) he can't be beat. |
of course not, since he can do it with his many corporate entities, he's never needed to |
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Also, when a group of Asian businessmen bought the Empire State building from the RTC, they immediately turned around and sold Trump half interest in the property.......for one dollar. When it comes to real estate, he's awesome. When he was up to his eyeballs in debt, he went to his creditors and had the balls to ask for more money. They figured what the hell - if Trump, the best in the world can't save it, no one can. They gave him the money, and he paid it back with interest in something like 1/4 of the time he said he would. He has become kind of a laughing stock because of his ridiculous self-promotion and that asinine TV show, but when he's on, he's on. |