DONALD TRUMP at CPAC? Contender for President?

[LilOlLady]

DONALD TRUMP FOR PRESIDENT? LMAO

That’s tickles my funny bone more than Palin and Bachmann for president.
DT; “Obama has made us the laughing stock” LMAO again. Thanks to Obama we are getting our respect, honor and credibility back. Obama is not calling everyone who disagree with him “axis of evil.”
No ones laughing. Not even Tea Baggers. He got the Tea Bagger all fired up? LMAO
“Can’t we just all get alone and make this a better world and safer world” YES WE CAN. Bush left us the “laughing stock.” Left up to Bush we would be at war with N. Korea, Iran, Pakistan. But thanks to Obama N. Korea and S. Korea are talking instead of threatening. Obama should be nominated again for the “Nobel Peace Prize.
DT is nothing more than a “blow fish” and less qualified to be president. If DT, Palin and Bachmann is not the ticket. Obama’s second term is a “Piece of Cake.” There was a reason Obama was elected in the first place and for that same reason he will be re-elected. DT, there is more to running this country then running your mouth. If it were, Simon would be elected president. LMAO again.

DT’s solution to our problems? File bankrupt. LMAO

Obama has no competition for 2012, unless GOD create a miracle. LMAO

 

[LilOlLady]

Financial problems (1989–1997)
By 1989, the effects of recession left Trump unable to meet loan payments. Trump financed the construction of his third casino, the $1 billion Taj Mahal, primarily with high-interest junk bonds. Although he shored up his businesses with additional loans and postponed interest payments, by 1991 increasing debt brought Trump to business bankruptcy[6] and the brink of personal bankruptcy. Banks and bond holders had lost hundreds of millions of dollars, but opted to restructure his debt to avoid the risk of losing more money in court. The Taj Mahal re-emerged from bankruptcy on October 5, 1991, with Trump ceding 50 % ownership in the casino to the original bondholders in exchange for lowered interest rates on the debt and more time to pay it off.[18]
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. Under the plan, Trump agreed to give up a 49 % stake in the luxury hotel to Citibank and five other lenders. In return Trump would receive more favorable terms on the remaining $550+ million owed to the lenders and retain his position as chief executive, though he would not be paid and would not have a role in day-to-day operations.[19]
By 1994, Trump had eliminated a large portion of his $900 million personal debt[20] and reduced significantly his nearly $3.5 billion in business debt. While he was forced to relinquish the Trump Shuttle (which he had bought in 1989), he managed to retain Trump Tower in New York City and control of his three casinos in Atlantic City. Chase Manhattan Bank, which lent Trump the money to buy the West Side yards, his biggest Manhattan parcel, forced the sale of a parcel to Asian developers. According to former members of the Trump Organization, Trump did not retain any ownership of the site's real estate - the owners merely promised to give him about 30 percent of the profits once the site was completely developed or sold. Until that time, the owners wanted to keep Trump on to do what he did best: build things. They gave him a modest construction fee and a management fee to oversee the development. The new owners also allowed him to put his name on the buildings that eventually rose on the yards because his well-known moniker allowed them to charge a premium for their condos

2008 financial crisis
Trump has been caught in the 2008 financial crisis as sales for his Trump International Hotel and Tower in Chicago have been lagging and he failed to pay a $40m loan to Deutsche Bank in December.[27] Arguing that the crisis is an Act of God, he evoked a clause in the contract to not pay the loan and initiated a countersuit asserting his image has been damaged.[27] Deutsche Bank has in turn noted in court that 'Trump is no stranger to overdue debt' and that he has twice previously filed for bankruptcy with respect to his casino operations.[27]
On February 17, 2009 Trump Entertainment Resorts filed for Chapter 11 Bankruptcy, Mr Trump having stated on February 13 that he would resign from the board.[28] Trump Entertainment Resorts has three properties in Atlantic City
Donald Trump - Wikipedia, the free encyclopedia



When you hear the name Donald Trump, chances are that the first thing to pop into your head is not bankruptcy. Today, the Trump brand has come to symbolize all that is lavish and extravagant. From his marble-lined hotels to his billion-dollar golf courses, little about Donald Trump would suggest bankruptcy. However, in his early years, Donald Trump was no different from every other entrepreneur who struggles to grow their business. In fact, he came so close to the brink of bankruptcy on more than one occasion that his success today is all the more remarkable.

During the 1990s, this real estate mogul began to suffer the effects of recession like everyone else. He had used high-interest junk bonds to finance the $1 billion construction of his third casino, the Taj Mahal, and was now paying the price. In 1991, he was forced to declare business insolvency, as he had $3.5 billion in outstanding loans. With a $900 million personal debt, he was almost forced to declare personal ruin as well.

Banks and bondholders, who had lost millions of dollars due to his liquidation, decided to restructure his debt. In return for lower interest rates and more time to pay back his debt, he ceded half of the ownership of the Taj Mahal to its original bondholders. In less than a few months, the casino had re-emerged.

That would not be the end of the bankruptcy story for Donald Trump. One year later, on November 2, 1992, the Trump Plaza Hotel was forced to declare bankruptcy. This time, Donald Trump agreed to give up 49 percent of the hotel to Citibank and five other lenders. In return, Donald Trump was given a similar deal as before, with more lenient conditions to repay the $550 million still outstanding. Donald Trump stayed on as chief executive, but his salary was taken away.

Two years later, the majority of his personal debt had been repaid, as had his business debt. However, the experience had taken its toll on the businessman. He had been forced to give up the Trump Shuttle he had purchased in 1989, although he did manage to keep both Trump Tower and his three casinos in Atlantic City.

In 1995, he combined his holdings into the Trump Hotel & Casino Resorts. It was originally trading for $35 on Wall Street, but this price had fallen into the single digits just two years later. Again, he was facing economic collapse. His company was not turning a profit and still owed $2 billion in debt. In a 2004 interview with the Wall Street Journal, he admitted that the situation was bothering him “from a psychological viewpoint.”

Determined to avoid bankruptcy again, Donald Trump decided to restructure his debt in 2004 by reducing his individual ownership from 56 to 27 percent and by giving bondholders stock in exchange for some of the debt they were owed. The plan still couldn’t keep Trump Hotels from seeking voluntary bankruptcy protection. Finally, in May 2005, after Donald Trump had given up his CEO position of the company, it emerged from bankruptcy as the new Trump Entertainment Resorts Holdings. Donald Trump Bankruptcy

And you want him to run the country??????

 

[whitehall]

I'd like to see Trump run on the democrat ticket. What's the chance of democrats finally getting smart and dropping B. Hussein for a capitalist candidate?

Interesting thought. But he didn't equivocate that he is pro life and anti gun control and I don't think the Democrats could risk a candidate that openly stressed those two things and keep certain segments of their base.

The GOP won't lose any of their base with a candidate who supports those two things because they have mostly had candidates who support those two things with no ill effect on existing law and policy. They simply don't mess with the guns pro or con, and the only way abortion policy is affected is whether the taxpayer will pay for abortions or not. And that is okay with pro choice Republicans and not that big a deal to most pro choice Democrats.

Doesn't anybody have any thoughts about the "respect America" line? That we won't be the world's 'whipping boy' anymore? Does that resonate with anybody?

Thanks to the unrelenting pro-democrat propaganda of the last fifty years most people aren't aware that democrat icon Harry Truman was so unpopular that he was forced to drop out of running for a second term. Obama is in the same shape. Blonde combover womanizing successful businessman and pop-star Donald Trump would be a perfect democrat candidate. He probably never had a firearm in his hand and you can bet that he is pro-abortion.

 

[Sheldon]

DONALD TRUMP FOR PRESIDENT? LMAO

That’s tickles my funny bone more than Palin and Bachmann for president.
DT; “Obama has made us the laughing stock” LMAO again. Thanks to Obama we are getting our respect, honor and credibility back. Obama is not calling everyone who disagree with him “axis of evil.”
No ones laughing. Not even Tea Baggers. He got the Tea Bagger all fired up? LMAO
“Can’t we just all get alone and make this a better world and safer world” YES WE CAN. Bush left us the “laughing stock.” Left up to Bush we would be at war with N. Korea, Iran, Pakistan. But thanks to Obama N. Korea and S. Korea are talking instead of threatening. Obama should be nominated again for the “Nobel Peace Prize.
DT is nothing more than a “blow fish” and less qualified to be president. If DT, Palin and Bachmann is not the ticket. Obama’s second term is a “Piece of Cake.” There was a reason Obama was elected in the first place and for that same reason he will be re-elected. DT, there is more to running this country then running your mouth. If it were, Simon would be elected president. LMAO again.

DT’s solution to our problems? File bankrupt. LMAO

Obama has no competition for 2012, unless GOD create a miracle. LMAO

That looks like an apoplectic screed.

 

[Foxfyre]

Financial problems (1989–1997)
By 1989, the effects of recession left Trump unable to meet loan payments. Trump financed the construction of his third casino, the $1 billion Taj Mahal, primarily with high-interest junk bonds. Although he shored up his businesses with additional loans and postponed interest payments, by 1991 increasing debt brought Trump to business bankruptcy[6] and the brink of personal bankruptcy. Banks and bond holders had lost hundreds of millions of dollars, but opted to restructure his debt to avoid the risk of losing more money in court. The Taj Mahal re-emerged from bankruptcy on October 5, 1991, with Trump ceding 50 % ownership in the casino to the original bondholders in exchange for lowered interest rates on the debt and more time to pay it off.[18]
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. Under the plan, Trump agreed to give up a 49 % stake in the luxury hotel to Citibank and five other lenders. In return Trump would receive more favorable terms on the remaining $550+ million owed to the lenders and retain his position as chief executive, though he would not be paid and would not have a role in day-to-day operations.[19]
By 1994, Trump had eliminated a large portion of his $900 million personal debt[20] and reduced significantly his nearly $3.5 billion in business debt. While he was forced to relinquish the Trump Shuttle (which he had bought in 1989), he managed to retain Trump Tower in New York City and control of his three casinos in Atlantic City. Chase Manhattan Bank, which lent Trump the money to buy the West Side yards, his biggest Manhattan parcel, forced the sale of a parcel to Asian developers. According to former members of the Trump Organization, Trump did not retain any ownership of the site's real estate - the owners merely promised to give him about 30 percent of the profits once the site was completely developed or sold. Until that time, the owners wanted to keep Trump on to do what he did best: build things. They gave him a modest construction fee and a management fee to oversee the development. The new owners also allowed him to put his name on the buildings that eventually rose on the yards because his well-known moniker allowed them to charge a premium for their condos

2008 financial crisis
Trump has been caught in the 2008 financial crisis as sales for his Trump International Hotel and Tower in Chicago have been lagging and he failed to pay a $40m loan to Deutsche Bank in December.[27] Arguing that the crisis is an Act of God, he evoked a clause in the contract to not pay the loan and initiated a countersuit asserting his image has been damaged.[27] Deutsche Bank has in turn noted in court that 'Trump is no stranger to overdue debt' and that he has twice previously filed for bankruptcy with respect to his casino operations.[27]
On February 17, 2009 Trump Entertainment Resorts filed for Chapter 11 Bankruptcy, Mr Trump having stated on February 13 that he would resign from the board.[28] Trump Entertainment Resorts has three properties in Atlantic City
Donald Trump - Wikipedia, the free encyclopedia



When you hear the name Donald Trump, chances are that the first thing to pop into your head is not bankruptcy. Today, the Trump brand has come to symbolize all that is lavish and extravagant. From his marble-lined hotels to his billion-dollar golf courses, little about Donald Trump would suggest bankruptcy. However, in his early years, Donald Trump was no different from every other entrepreneur who struggles to grow their business. In fact, he came so close to the brink of bankruptcy on more than one occasion that his success today is all the more remarkable.

During the 1990s, this real estate mogul began to suffer the effects of recession like everyone else. He had used high-interest junk bonds to finance the $1 billion construction of his third casino, the Taj Mahal, and was now paying the price. In 1991, he was forced to declare business insolvency, as he had $3.5 billion in outstanding loans. With a $900 million personal debt, he was almost forced to declare personal ruin as well.

Banks and bondholders, who had lost millions of dollars due to his liquidation, decided to restructure his debt. In return for lower interest rates and more time to pay back his debt, he ceded half of the ownership of the Taj Mahal to its original bondholders. In less than a few months, the casino had re-emerged.

That would not be the end of the bankruptcy story for Donald Trump. One year later, on November 2, 1992, the Trump Plaza Hotel was forced to declare bankruptcy. This time, Donald Trump agreed to give up 49 percent of the hotel to Citibank and five other lenders. In return, Donald Trump was given a similar deal as before, with more lenient conditions to repay the $550 million still outstanding. Donald Trump stayed on as chief executive, but his salary was taken away.

Two years later, the majority of his personal debt had been repaid, as had his business debt. However, the experience had taken its toll on the businessman. He had been forced to give up the Trump Shuttle he had purchased in 1989, although he did manage to keep both Trump Tower and his three casinos in Atlantic City.

In 1995, he combined his holdings into the Trump Hotel & Casino Resorts. It was originally trading for $35 on Wall Street, but this price had fallen into the single digits just two years later. Again, he was facing economic collapse. His company was not turning a profit and still owed $2 billion in debt. In a 2004 interview with the Wall Street Journal, he admitted that the situation was bothering him “from a psychological viewpoint.”

Determined to avoid bankruptcy again, Donald Trump decided to restructure his debt in 2004 by reducing his individual ownership from 56 to 27 percent and by giving bondholders stock in exchange for some of the debt they were owed. The plan still couldn’t keep Trump Hotels from seeking voluntary bankruptcy protection. Finally, in May 2005, after Donald Trump had given up his CEO position of the company, it emerged from bankruptcy as the new Trump Entertainment Resorts Holdings. Donald Trump Bankruptcy

And you want him to run the country??????

Link? Or is this from another leftwing hate site?

It is my understanding that everybody Trump owed got paid which is why he retains a stellar credit rating and investors scramble to be a part of his enterprise. I could be wrong, but I sure am not finding anybody in the financial world adivisng investors to stay away from Donald Trump.

 

[Foxfyre]

I'd like to see Trump run on the democrat ticket. What's the chance of democrats finally getting smart and dropping B. Hussein for a capitalist candidate?

Interesting thought. But he didn't equivocate that he is pro life and anti gun control and I don't think the Democrats could risk a candidate that openly stressed those two things and keep certain segments of their base.

The GOP won't lose any of their base with a candidate who supports those two things because they have mostly had candidates who support those two things with no ill effect on existing law and policy. They simply don't mess with the guns pro or con, and the only way abortion policy is affected is whether the taxpayer will pay for abortions or not. And that is okay with pro choice Republicans and not that big a deal to most pro choice Democrats.

Doesn't anybody have any thoughts about the "respect America" line? That we won't be the world's 'whipping boy' anymore? Does that resonate with anybody?

Thanks to the unrelenting pro-democrat propaganda of the last fifty years most people aren't aware that democrat icon Harry Truman was so unpopular that he was forced to drop out of running for a second term. Obama is in the same shape. Blonde combover womanizing successful businessman and pop-star Donald Trump would be a perfect democrat candidate. He probably never had a firearm in his hand and you can bet that he is pro-abortion.

Did you even listen to the speech?

 

[Foxfyre]

Again people, I accept that most of you don't like the Donald. And we've seen just about all the sh*t you can logically sling at him personally now.

I'm wanting to know what you thought about the speech. What he said. What skill sets he could bring to the Presidency. Is it possible to get out of the negative partisan spin mode and politics of personal destruction and focus on that just a little bit?

 

[ScreamingEagle]

i'd love to hear Trump tell Obama.....YOU'RE FIRED!

too bad he couldn't fire half the members of congress too...

 

[Sheldon]

Again people, I accept that most of you don't like the Donald. And we've seen just about all the sh*t you can logically sling at him personally now.

I'm wanting to know what you thought about the speech. What he said. What skill sets he could bring to the Presidency. Is it possible to get out of the negative partisan spin mode and politics of personal destruction and focus on that just a little bit?

I think his success in the business world would be a positive trait. You don't make like he has without knowing how to work with, and manage, people. He seems street smart, with a kind of gruff no-nonsense personality, but gets the timing of self-deprecating humor--which is something that could translate well on the campaign trail.

I personally wouldn't mind seeing him in the GOP 2012 Prez primaries, and form a clearer picture of his ideas there.

 

[Foxfyre]

Thanks ScreamingEagle and Sheldon. This is what I think thinking people are at least thinking about.

Sure it's easy to drum up all the real and imagined sins of Donald Trump. We all know how polarizing a figure he is, and based on the straw poll on this thread, a lot of folks just plain don't like him, his style, his personality, or for whatever reason. It may be that all his baggage will sink him in a political campaign, but one thing he has going for him is that the media likes him. Here's a recent Washington Post article that is more objective and doesn't emphasize the negatives as they usually do with other figures:

44 - Eye on 2012: Donald Trump for president?

Some have suggested that he wouldn't hold up in an unfriendly environment. I rather think that he would because he has such confidence in himself.

Also lack of political experience I think is less important with him because of his far ranging experience in dealing with powerful people all over the world. For instance, he has considerable holdings in China even as he rips the Chinese for less than stellar business ethics with the USA. I am confident he knows of what he speaks.

And no, I am not promoting Donald Trump and have not decided myself whether he would be the right man for the job.

But I'm not going to write him off just yet just because he is rich and famous and somebody a lot of people love to hate.

 

[Avatar4321]

Im interested and watching, but mostly because I want to give everyone a fair shot. I dont think it will be an easy sell for him and unless Huckabee was the only alternative, I dont think I'd vote for him as of now.

 

[Avatar4321]

I'm disappointed no one from the CON$ervative Brotherhood attacked him for saying the same thing they attack Obama for, namely that China is outdoing us in the building of their infrastructure.

One, I don't think many people are attacking Obama on that. Though its not really anything to be proud about.

Two, I am fairly confident he is doing more to build at home than the current administration is. What is to complain about?

 

[Foxfyre]

I'm disappointed no one from the CON$ervative Brotherhood attacked him for saying the same thing they attack Obama for, namely that China is outdoing us in the building of their infrastructure.

One, I don't think many people are attacking Obama on that. Though its not really anything to be proud about.

Two, I am fairly confident he is doing more to build at home than the current administration is. What is to complain about?

He also has a lot of overseas holdings including, as I previously posted, in China. So I figure that gives him a leg up in international politics that even some of our congressional members would not have. And when you have a country with as little infrastructure for as many people as China has, when they start building any at all, they'll be out building almost everybody else.

I don't know that Trump has even addressed that at this time. But in the places he is doing business, including China, I am confident he knows who is screwing who.

 

[Mustang]

Financial problems (1989–1997)
By 1989, the effects of recession left Trump unable to meet loan payments. Trump financed the construction of his third casino, the $1 billion Taj Mahal, primarily with high-interest junk bonds. Although he shored up his businesses with additional loans and postponed interest payments, by 1991 increasing debt brought Trump to business bankruptcy[6] and the brink of personal bankruptcy. Banks and bond holders had lost hundreds of millions of dollars, but opted to restructure his debt to avoid the risk of losing more money in court. The Taj Mahal re-emerged from bankruptcy on October 5, 1991, with Trump ceding 50 % ownership in the casino to the original bondholders in exchange for lowered interest rates on the debt and more time to pay it off.[18]
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. Under the plan, Trump agreed to give up a 49 % stake in the luxury hotel to Citibank and five other lenders. In return Trump would receive more favorable terms on the remaining $550+ million owed to the lenders and retain his position as chief executive, though he would not be paid and would not have a role in day-to-day operations.[19]
By 1994, Trump had eliminated a large portion of his $900 million personal debt[20] and reduced significantly his nearly $3.5 billion in business debt. While he was forced to relinquish the Trump Shuttle (which he had bought in 1989), he managed to retain Trump Tower in New York City and control of his three casinos in Atlantic City. Chase Manhattan Bank, which lent Trump the money to buy the West Side yards, his biggest Manhattan parcel, forced the sale of a parcel to Asian developers. According to former members of the Trump Organization, Trump did not retain any ownership of the site's real estate - the owners merely promised to give him about 30 percent of the profits once the site was completely developed or sold. Until that time, the owners wanted to keep Trump on to do what he did best: build things. They gave him a modest construction fee and a management fee to oversee the development. The new owners also allowed him to put his name on the buildings that eventually rose on the yards because his well-known moniker allowed them to charge a premium for their condos

2008 financial crisis
Trump has been caught in the 2008 financial crisis as sales for his Trump International Hotel and Tower in Chicago have been lagging and he failed to pay a $40m loan to Deutsche Bank in December.[27] Arguing that the crisis is an Act of God, he evoked a clause in the contract to not pay the loan and initiated a countersuit asserting his image has been damaged.[27] Deutsche Bank has in turn noted in court that 'Trump is no stranger to overdue debt' and that he has twice previously filed for bankruptcy with respect to his casino operations.[27]
On February 17, 2009 Trump Entertainment Resorts filed for Chapter 11 Bankruptcy, Mr Trump having stated on February 13 that he would resign from the board.[28] Trump Entertainment Resorts has three properties in Atlantic City
Donald Trump - Wikipedia, the free encyclopedia



When you hear the name Donald Trump, chances are that the first thing to pop into your head is not bankruptcy. Today, the Trump brand has come to symbolize all that is lavish and extravagant. From his marble-lined hotels to his billion-dollar golf courses, little about Donald Trump would suggest bankruptcy. However, in his early years, Donald Trump was no different from every other entrepreneur who struggles to grow their business. In fact, he came so close to the brink of bankruptcy on more than one occasion that his success today is all the more remarkable.

During the 1990s, this real estate mogul began to suffer the effects of recession like everyone else. He had used high-interest junk bonds to finance the $1 billion construction of his third casino, the Taj Mahal, and was now paying the price. In 1991, he was forced to declare business insolvency, as he had $3.5 billion in outstanding loans. With a $900 million personal debt, he was almost forced to declare personal ruin as well.

Banks and bondholders, who had lost millions of dollars due to his liquidation, decided to restructure his debt. In return for lower interest rates and more time to pay back his debt, he ceded half of the ownership of the Taj Mahal to its original bondholders. In less than a few months, the casino had re-emerged.

That would not be the end of the bankruptcy story for Donald Trump. One year later, on November 2, 1992, the Trump Plaza Hotel was forced to declare bankruptcy. This time, Donald Trump agreed to give up 49 percent of the hotel to Citibank and five other lenders. In return, Donald Trump was given a similar deal as before, with more lenient conditions to repay the $550 million still outstanding. Donald Trump stayed on as chief executive, but his salary was taken away.

Two years later, the majority of his personal debt had been repaid, as had his business debt. However, the experience had taken its toll on the businessman. He had been forced to give up the Trump Shuttle he had purchased in 1989, although he did manage to keep both Trump Tower and his three casinos in Atlantic City.

In 1995, he combined his holdings into the Trump Hotel & Casino Resorts. It was originally trading for $35 on Wall Street, but this price had fallen into the single digits just two years later. Again, he was facing economic collapse. His company was not turning a profit and still owed $2 billion in debt. In a 2004 interview with the Wall Street Journal, he admitted that the situation was bothering him “from a psychological viewpoint.”

Determined to avoid bankruptcy again, Donald Trump decided to restructure his debt in 2004 by reducing his individual ownership from 56 to 27 percent and by giving bondholders stock in exchange for some of the debt they were owed. The plan still couldn’t keep Trump Hotels from seeking voluntary bankruptcy protection. Finally, in May 2005, after Donald Trump had given up his CEO position of the company, it emerged from bankruptcy as the new Trump Entertainment Resorts Holdings. Donald Trump Bankruptcy

And you want him to run the country??????

Link? Or is this from another leftwing hate site?

It is my understanding that everybody Trump owed got paid which is why he retains a stellar credit rating and investors scramble to be a part of his enterprise. I could be wrong, but I sure am not finding anybody in the financial world adivisng investors to stay away from Donald Trump.

Really? Prepare yourself for more disappointment!

Trump Baja - Trump Baja venture leaves buyers high and dry - Los Angeles Times

 

[Foxfyre]

Really? Prepare yourself for more disappointment!

Trump Baja - Trump Baja venture leaves buyers high and dry - Los Angeles Times

While I don't entirely trust the LA Times to be entirely fair and accurate to much of anybody, this certainly does deserve some additional scrutiny. We don't know what the 'deal' really was with investors or what other factors may be involved, but this does need to be in the miix. Thanks.

EDIT: I just found this:

Donald Trump sues developer of Baja California condo project with his nameThe real estate tycoon accuses Irongate Wilshire principals of failing to follow through on promises to build a five-star resort called Trump Ocean Resort Baja Mexico.
April 10, 2009|Stuart Pfeifer

Real estate tycoon Donald Trump filed a lawsuit Thursday against a Los Angeles developer that paid to use his name for an oceanfront condominium project in Baja California but then failed to build it.

Filed in federal court in New York, the lawsuit comes one month after dozens of buyers sued Trump and Los Angeles developer Irongate Wilshire, demanding return
http://articles.latimes.com/2009/apr/10/business/fi-trump10

Does that change your perspective any, Mustang?

 

[Mustang]

Really? Prepare yourself for more disappointment!

Trump Baja - Trump Baja venture leaves buyers high and dry - Los Angeles Times

While I don't entirely trust the LA Times to be entirely fair and accurate to much of anybody, this certainly does deserve some additional scrutiny. We don't know what the 'deal' really was with investors or what other factors may be involved, but this does need to be in the miix. Thanks.

EDIT: I just found this:

Donald Trump sues developer of Baja California condo project with his nameThe real estate tycoon accuses Irongate Wilshire principals of failing to follow through on promises to build a five-star resort called Trump Ocean Resort Baja Mexico.
April 10, 2009|Stuart Pfeifer

Real estate tycoon Donald Trump filed a lawsuit Thursday against a Los Angeles developer that paid to use his name for an oceanfront condominium project in Baja California but then failed to build it.

Filed in federal court in New York, the lawsuit comes one month after dozens of buyers sued Trump and Los Angeles developer Irongate Wilshire, demanding return
Trump Baja Lawsuit - Donald Trump sues developer of Baja California condo project with his name - Los Angeles Times

Does that change your perspective any, Mustang?

Not really. Trump licenses his name to a project, and people buy in BECAUSE his name is associated with it. Trump and his kids were involved in the deal and actively promoted it. They can't just now claim that someone else is at fault, and they're blameless.

 

[Foxfyre]

Really? Prepare yourself for more disappointment!

Trump Baja - Trump Baja venture leaves buyers high and dry - Los Angeles Times

While I don't entirely trust the LA Times to be entirely fair and accurate to much of anybody, this certainly does deserve some additional scrutiny. We don't know what the 'deal' really was with investors or what other factors may be involved, but this does need to be in the miix. Thanks.

EDIT: I just found this:

Donald Trump sues developer of Baja California condo project with his nameThe real estate tycoon accuses Irongate Wilshire principals of failing to follow through on promises to build a five-star resort called Trump Ocean Resort Baja Mexico.
April 10, 2009|Stuart Pfeifer

Real estate tycoon Donald Trump filed a lawsuit Thursday against a Los Angeles developer that paid to use his name for an oceanfront condominium project in Baja California but then failed to build it.

Filed in federal court in New York, the lawsuit comes one month after dozens of buyers sued Trump and Los Angeles developer Irongate Wilshire, demanding return
Trump Baja Lawsuit - Donald Trump sues developer of Baja California condo project with his name - Los Angeles Times

Does that change your perspective any, Mustang?

Not really. Trump licenses his name to a project, and people buy in BECAUSE his name is associated with it. Trump and his kids were involved in the deal and actively promoted it. They can't just now claim that someone else is at fault, and they're blameless.

I don't think they've done that. You posted the original LA Times piece as a condemnation of Donald Trump with the implication that it was HIS project and HIS investors. It wasn't. Does that make you guilty of promoting a lie? Or can you now step back and say the LA Piece was mostly a lie and here's the real skinny? At least the LA Times had sufficient integrity to report the more accurate story when the earlier account proved to be in error.

There is no evidence that Trump was not convinced that the developer was reliable when he allowed his name to be used to promote the project. The lawsuit suggests, however, that he isn't standing still for his name to be used unethically or dishonestly and I am going to guess that if he prevails, those investors will get whatever proceeds are gained. That has been his track record in the past and I have no reason to think that he would be unethical about that now.

Is there no room in your ethical code to give Trump the benefit of the doubt?

 

[edthecynic]

Donald Trump sued for fraud over Trump SoHo condo | Reuters

By Jonathan Stempel and Deepa Seetharaman
NEW YORK | Tue Aug 3, 2010 4:13pm EDT

NEW YORK (Reuters) - Donald Trump and the promoters of his Trump SoHo hotel-condominium were sued by buyers who accused them of fraudulently touting out-sized sales figures to encourage them to buy units and inflate the project's financial health.
The lawsuit by 15 plaintiffs was filed late Monday in Manhattan federal court, less than four months after the 46-story building opened and three months after the offering plan went effective, allowing closings to begin.
Trump SoHo is a venture between the Trump Organization, which manages the building, and Bayrock Group LLC and Sapir Organization LLC, which formed its sponsor Bayrock/Sapir Organization LLC. The smallest units start at $1.2 million.
The complaint said the defendants in sales pitches and to the media during the first 18 months of marketing advertised that the building was "30, 40, 50, 60 percent or more sold."
Instead, when the offering plan went effective, buyers learned that just 62 of the 391 units, or 16 percent, had been sold, the complaint said. A minimum of 15 percent was needed for the plan to go effective.
Many banks will not lend to buyers of condominium units when sponsors still own a large percentage of the units, often 50 percent. Lawyers believe there can be greater risks when that happens because of the sponsors' obligations to their own lenders and to the condominium itself.

 

[edthecynic]

While I don't entirely trust the LA Times to be entirely fair and accurate to much of anybody, this certainly does deserve some additional scrutiny. We don't know what the 'deal' really was with investors or what other factors may be involved, but this does need to be in the miix. Thanks.

EDIT: I just found this:



Does that change your perspective any, Mustang?

Not really. Trump licenses his name to a project, and people buy in BECAUSE his name is associated with it. Trump and his kids were involved in the deal and actively promoted it. They can't just now claim that someone else is at fault, and they're blameless.

I don't think they've done that. You posted the original LA Times piece as a condemnation of Donald Trump with the implication that it was HIS project and HIS investors. It wasn't. Does that make you guilty of promoting a lie? Or can you now step back and say the LA Piece was mostly a lie and here's the real skinny? At least the LA Times had sufficient integrity to report the more accurate story when the earlier account proved to be in error.

There is no evidence that Trump was not convinced that the developer was reliable when he allowed his name to be used to promote the project. The lawsuit suggests, however, that he isn't standing still for his name to be used unethically or dishonestly and I am going to guess that if he prevails, those investors will get whatever proceeds are gained. That has been his track record in the past and I have no reason to think that he would be unethical about that now.

Is there no room in your ethical code to give Trump the benefit of the doubt?

It appears Dump Truck and his family did more than just lease his name.

Donald Trump Sued In New Lawsuit Over Failed Project

Donald Trump Sued In New Lawsuit Over Failed Project

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by Deidre Woollard (RSS feed)
Mar 9th 2010 at 11:01PM

Looks like the saga of the failed Trump Ocean Resort Baja is far from over. Radar Online has documents that show a new lawsuits has recently been filed by seven investors in the project. The individuals sued not just Donald Trump but his children, Donald Trump Jr. and Ivanka Trump and others saying they were " duped into buying hotel-condominium units that were never built." The plaintiffs have asked for punitive damages of no less than $10 million dollars.

The lawsuit details the many ways that the plaintiffs feel like they were swindled by Trump. They were led to believe that Trump was directly involved when instead it was a licensing deal. The lawsuit produces evidence including newspaper stories to prove that the project was widely known as a Trump project and that Ivanka Trump and Donald J. Trump, Jr. attended key sales events for the project and announced that they would be purchasing units in the project.

What was to be a 526-suite luxury project with a spa, swimming pool, restaurants and shops has instead turned into an abandoned excavation site with six cement pads sitting on it. The lawsuit papers say that Trump and the developer Irongate did not have financing and construction permits approved before the sales and that the site itself had contamination and mold issues. There is also an allegation that certain "favored" buyers were allowed to purchase without a deposit while others including the plaintiffs were forced to tender hefty sums before purchase.

Last year after a first lawsuit in which investors sued Donald Trump and Los Angeles developer Irongate Wilshire over the failure of the Trump Ocean Resort Baja Mexico, Trump filed a lawsuit of his own. His lawsuit accessed Irongate Wilshire's principals of not following through on the plans for the five-star resort which bore his name. At that time Trump claimed that he was "unfairly targeted" by the buyers' lawsuit because he was not a developer of the project but the latest lawsuit does indicate that his family's involvement may have gone deeper than a name.

 

[Foxfyre]

Now find an article to collaborate the Luxist writer's take on it Ed. Preferably a site that isn't a leftwing hate site and a site that somebody has ever heard of.

Just as the LA Times got it wrong and then set it right, I would like to know that you didn't post another leftwing attack story that wants to believe the worst and doesn't care about facts. I don't trust a single source even when I know it to be generally reliable. I sure am not going to trust a single sources from some unknown obviously leftwing site that I've never heard of. Perhaps you can corroborate the account from a reliable source that most of us have heard of?

I'm not saying it isn't true. I'm just saying I'm not willing to demonize somebody based on false or erroneous evidence, if that's what we're dealing with here.