Donald Trump's Many Failures- Top 10 list

[Syriusly]

• Trump Airlines- Bought and driven into the ground

In October 1988, Donald Trump threw his wallet into the airline business by purchasing Eastern Air Shuttle, a service that for 27 years had run hourly flights between Boston, New York City and Washington, D.C. For roughly $365 million, Trump got a fleet of 17 Boeing 727s, landing facilities in each of the three cities and the right to paint his name on an airplane. Trump pushed to give the airline the Trump touch, making the previously no-muss, no-fuss shuttle service into a luxury experience. To this end, he added maple-wood veneer to the floors, chrome seat-belt latches and gold-colored bathroom fixtures. But his gamble was a bust. A lack of increased interest from customers (who favored the airline for its convenience not its fancy new look) combined with high pre–Gulf War fuel prices meant the shuttle never turned a profit. The high debt forced Trump to default on his loans, and ownership of the company was turned over to creditors. The Trump Shuttle ceased to exist in 1992 when it was merged into a new corporation, Shuttle Inc. No word on whether the gold-plated faucets survived the merger.
Top 10 Donald Trump Failures - TIME

• olicy'

 

[Syriusly]

• Trump Vodka

The Donald had a vodka. Trump vodka (labeled super premium, naturally) was introduced in 2006 to much fanfare. Under the slogan "Success Distilled," the liquor was touted as the "epitome of vodka" that would "demand the same respect and inspire the same awe as the international legacy and brand of Donald Trump himself." At the time, Trump predicted the T&T (Trump and Tonic) would become the most requested drink in America, surpassed only by the Trump Martini. On Larry King Live, he said he got into the vodka business to outdo his friends at Grey Goose. Six years later, Grey Goose is still on top shelves throughout the country. As for Trump vodka? Yeah, we'd never heard of it either. The New York City blog Gothamist reports the vodka has stopped production "because the company failed to meet the threshold requirements." Two weeks ago, Trump's company filed an injunction to prevent an Israeli company from selling Trump vodka without his consent or authorization. Meaning the Donald stopped the only people in world who wanted to drink his vodka from doing so.

 

[Syriusly]

• The Bankruptcies

Donald Trump brags about how well his businesses have fared in bankruptcy. And in fact, no major U.S. company has filed for Chapter 11 more than Trump's casino empire in the last 30 years.
"I have used the laws of this country ... the [bankruptcy] chapter laws, to do a great job for my company, for myself, for my employees, for my family," he said during the first Republican presidential debate on August 6.

Trump claims that successful businesses file for bankruptcy all the time. At the debate he said "virtually every person that you read about on the front page of the business sections, they've used the [bankruptcy] law."

But the facts don't back that comment up.

Despite high profile examples, including General Motors (GM), Lehman Brothers and most of the nation's major airlines, fewer than 20% of public companies with assets of $1 billion or more have filed for bankruptcy in the last 30 years, according to data from Bankruptcy.com and S&P Capital IQ.

Trump has never filed for personal bankruptcy. But he has filed four business bankruptcies, which Bankruptcy.com says makes Trump the top filer in recent decades. All of them were centered around casinos he used to own in Atlantic City. They were all Chapter 11 restructurings, which lets a company stay in business while shedding debt it owes to banks, employees and suppliers.

Related: Trump - Tax the rich more

He makes no apologies for having much of his debt wiped out. "These lenders aren't babies. These are total killers," he said at the debate. "These are not the nice, sweet little people."

Here's a look at Trump's bankruptcy track record.

1. Trump Taj Mahal, 1991

Trump's first bankruptcy filing was probably the most personally painful for him. To come up with the funds he needed, he sold a 282-foot yacht, as well as the Trump Shuttle, the airline he operated at the time that flew between Washington, D.C., New York and Boston, according to media reports at the time. He had to give up half of his ownership stake in the Trump Taj Mahal, but he did retain control of the property. His largest creditor was financier Carl Icahn, who held $400 million in bonds. Now Icahn is Trump's pick for Treasury secretary should he be elected.

2. Trump Castle Associates, 1992

In less than a year he was back in bankruptcy court for his other Atlantic City casinos. This bankruptcy included the Trump Plaza Hotel in New York, the Trump Plaza Hotel and Casino in Atlantic City as well as the Trump Castle Casino Resort. He gave up half his interest in the New York Plaza to Citibank, but retained his stake in the casinos.


Trump didn't go back to bankruptcy court again until November 2004, when he filed to shed debt at his various Atlantic City casinos and a riverboat in Indiana. It was another quick trip through bankruptcy court; the company shed $500 million in debt and emerged from bankruptcy the following May. Trump turned over majority control of the company to his bondholders but remained the largest single shareholder, and he once again kept control of the casinos.

4. Trump Entertainment Resorts, 2009

His most recent bankruptcy came in 2009, after the company missed a $53.1 million bond payment. That was pretty much the end of the road for Trump in Atlantic City. While his name remained on three casinos, he resigned from the board and gave up his remaining stake in the company.

"I had the good sense, and I've gotten a lot of credit in the financial pages, seven years ago I left Atlantic City before it totally cratered," he said during the debate.

The two Atlantic City casinos that still had the Trump name filed for bankruptcy yet again in 2014. At the time Trump made sure people knew he was no longer running the company, and sued to have his name removed.

Donald Trump bankruptcy: Everything you want to know

 

[Syriusly]

The Marriages

Trump's marriage record: 1 for 3.
Donald Trump's life in the bedroom has been messy at best. The real estate magnate married his first wife, Ivana, in 1977, but things got rocky after Trump's affair with actress Marla Maples surfaced in New York City tabloids. "You bitch, leave my husband alone!" Ivana (pictured) told Maples on a ski trip in Aspen, Colo. Ivana's warning fell on deaf ears, and in 1992, Trump left her with a reported $25 million settlement and married his mistress one year later. His marriage to Maples was even shorter-lived, and the couple divorced in 1999. These days, Trump's married to Slovenian supermodel Melania Knauss. Together in marital bliss since 2005, this relationship's proving the third time really is a charm — so far anyway.

 

[Syriusly]

• Trump Mortgage Company

In April 2006, Trump announced that, after years in the real estate business, he was launching a mortgage company. He held a glitzy press conference at which his son Donald Jr. predicted that Trump Mortgage would soon be the nation's No. 1 home-loan lender. Trump told CNBC, "Who knows more about financing than me?" Apparently, plenty. Within a year and a half, Trump Mortgage had closed shop. The would-be lending powerhouse was done in by timing (the housing market cratered in 2007) and ironically enough, given Trump's Apprentice TV show, poor hiring. The executive Trump selected to run his loan company, E.J. Ridings, claimed to have been a top executive at a prestigious investment bank. In reality, Ridings' highest role on Wall Street was as a registered broker, a position he held for a mere six days.

 

[Syriusly]

• Job's for Americans

"The problem with our country is we don't manufacture anything anymore," Donald Trump told Fox News a year ago. "The stuff that's been sent over from China," he complained, "falls apart after a year and a half. It's crap." That very same Donald Trump has his own line of clothing, and it's made in ... China. (O.K., O.K. — not all of it. Salon, which reported this intriguing, head-scratching fact, notes that some of his apparel is from Mexico and Bangladesh.)

And here in the United States? Trump doesn't think much of American workers either.
Donald Trump’s Florida clubs hiring foreign workers

Trump is looking to hire 78 servers, housekeepers, and cooks for his Mar-a-Lago Club in Palm Beach and the nearby Trump National Golf Club in Jupiter, according to Federal labor records.


As he has for years, the Republican presidential nominee filed this month to import foreign workers for the jobs instead of hiring Americans, Buzzfeed News first reported Wednesday.


Department of Labor records show Trump has sought H-2 visas for hundreds of foreigners to fill temporary positions at the two properties in recent years.

 

[Syriusly]

• Trump Casino's- Running them Into the Ground

How Donald Trump Bankrupted His Atlantic City Casinos, but Still Earned Millions

But even as his companies did poorly, Mr. Trump did well. He put up little of his own money, shifted personal debts to the casinos and collected millions of dollars in salary, bonuses and other payments. The burden of his failures fell on investors and others who had bet on his business acumen.

In three interviews with The Times since late April, Mr. Trump acknowledged in general terms that high debt and lagging revenues had plagued his casinos. He did not recall details about some issues, but did not question The Times’s findings. He repeatedly emphasized that what really mattered about his time in Atlantic City was that he had made a lot of money there.

Mr. Trump assembled his casino empire by borrowing money at such high interest rates — after telling regulators he would not — that the businesses had almost no chance to succeed.

And he never was able to draw in enough gamblers to support all of the borrowing. During a decade when other casinos here thrived, Mr. Trump’s lagged, posting huge losses year after year. Stock and bondholders lost more than $1.5 billion.

All the while, Mr. Trump received copious amounts for himself, with the help of a compliant board. In one instance, The Times found, Mr. Trump pulled more than $1 million from his failing public company, describing the transaction in securities filings in ways that may have been illegal, according to legal experts.

 

[Syriusly]

Muslims

Donald Trump warns Americans to fear Muslims- unless they are wealthy Muslims who he might do business with......in Saudi Arabia and Dubai and the Gulf states....

 

[phoenyx]

If only Trump's supporters would pay more attention to things like this, they might just see him for the con artist he is.

 

[Cellblock2429]

• Trump Airlines- Bought and driven into the ground

In October 1988, Donald Trump threw his wallet into the airline business by purchasing Eastern Air Shuttle, a service that for 27 years had run hourly flights between Boston, New York City and Washington, D.C. For roughly $365 million, Trump got a fleet of 17 Boeing 727s, landing facilities in each of the three cities and the right to paint his name on an airplane. Trump pushed to give the airline the Trump touch, making the previously no-muss, no-fuss shuttle service into a luxury experience. To this end, he added maple-wood veneer to the floors, chrome seat-belt latches and gold-colored bathroom fixtures. But his gamble was a bust. A lack of increased interest from customers (who favored the airline for its convenience not its fancy new look) combined with high pre–Gulf War fuel prices meant the shuttle never turned a profit. The high debt forced Trump to default on his loans, and ownership of the company was turned over to creditors. The Trump Shuttle ceased to exist in 1992 when it was merged into a new corporation, Shuttle Inc. No word on whether the gold-plated faucets survived the merger.
Top 10 Donald Trump Failures - TIME

• olicy'

Who cares. Trump has hundreds of successful businesses and a handful of failures. Hillary couldn't run a Kool Aide stand without adult supervision.

 

[Syriusly]

• Trump Airlines- Bought and driven into the ground

In October 1988, Donald Trump threw his wallet into the airline business by purchasing Eastern Air Shuttle, a service that for 27 years had run hourly flights between Boston, New York City and Washington, D.C. For roughly $365 million, Trump got a fleet of 17 Boeing 727s, landing facilities in each of the three cities and the right to paint his name on an airplane. Trump pushed to give the airline the Trump touch, making the previously no-muss, no-fuss shuttle service into a luxury experience. To this end, he added maple-wood veneer to the floors, chrome seat-belt latches and gold-colored bathroom fixtures. But his gamble was a bust. A lack of increased interest from customers (who favored the airline for its convenience not its fancy new look) combined with high pre–Gulf War fuel prices meant the shuttle never turned a profit. The high debt forced Trump to default on his loans, and ownership of the company was turned over to creditors. The Trump Shuttle ceased to exist in 1992 when it was merged into a new corporation, Shuttle Inc. No word on whether the gold-plated faucets survived the merger.
Top 10 Donald Trump Failures - TIME

• olicy'

Who cares. Trump has hundreds of successful businesses and a handful of failures. Hillary couldn't run a Kool Aide stand without adult supervision.

True- who cares that Trump- who is running on his supposed expertise has run dozens of companies into the ground, and has found his only real success as a Reality TV star?

 

[Cellblock2429]

Please point out the "dozens of companies" you claim Donald Trump has run into the ground. TIA
Here's a list to help you get started:
The Trump Organization - Wikipedia, the free encyclopedia

 

[sealybobo]

If only Trump's supporters would pay more attention to things like this, they might just see him for the con artist he is.

Trump’s New Business Partners Just Published A Damning List Of All His Failures

The former president's lengthy history of bankruptcies, failed licensing agreements and lawsuits are laid bare in excruciating detail in a filing for his new media company.

www.huffpost.com