Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
I don't know, he seems to be making a lot of noise for someone with no intention of running. He may ultimately decide not to, but I think it's an avenue he's at least considering.
He makes the same noise every 10 years or so.. He knows if he runs he'll have to fund the whole thing and I seriously doubt he's ready to blow $300M on a run for president
Quote:
Originally Posted by Irishiis49
They reportedly got pennies on the dollar and in many small business a delay of months or years is the kiss of death!
The delays would have happened, but the pennies on the dollar wouldnt be true. He paid his creditors when he took his casinos public raising the necessary capital to tell the investors to get lost..
He makes the same noise every 10 years or so.. He knows if he runs he'll have to fund the whole thing and I seriously doubt he's ready to blow $300M on a run for president
The delays would have happened, but the pennies on the dollar wouldnt be true. He paid his creditors when he took his casinos public raising the necessary capital to tell the investors to get lost..
But how long between when they were paid from when they were owed? And I know it's legal but do really you think it's fair to be able to claim bankruptcy on a bussiness that is only 1% percent of your overall wealth?
Why wouldnt it? Trump has used BK to leverage maximum returns. The US Govt might be bankrupt soon, so it might make sense to have someone who's gone through it before leading the way to turn it into a positive..
Yes, on the surface, but on the flip-side, with that line of thought, wouldn't it make even more sense to run somebody who has never had to declare? If this were the case, shouldn't we all be prodding Bill Gates, Steve Jobs or that Facebook Zuckerberg kid to run? "Hey, you made a billion dollars, why don't you drop everything and run the most powerful nation on the planet".I just can't see this. We are not talking about a hotel, we are not talking about a casino, we are talking about a nuclear superpower.
The problem is, most Americans are as smart as a sack of wet hamsters when it comes to picking a leader. That's why we had Bush twice. That's why we have Obama now. That's why Steve Forbes and Ross Perot didn't make it either.
Dumb. As. A. Stump.
I'm not sure what it's going to take for folks to realize that their judgment is flawed, but I doubt they'll figure it out between now and November 2012.
We need Trump, but we'll get another loser for sure.
Thats usually the reason for corporate bankrupties, is it not? Trump though used the bankruptcy as a leveraging tool to renegotiate payments in the same manner I filed bk. It was to force creditors to come to the table and renegotiate terms that were mutually beneficial to us.
No.. he was looking for capital to buyout the investors at a much lower than market rate. The deal was so profitable to Trump that he was faced with paying $100M in TAXES on the deal.. Trump Casino Stock Soars As The Donald Considers Selling
At a 15% tax rate on capital gains, this means Trump profited upwards of $700M in profit..
Many here seen his BK as an acknoledgement of failure, but again, it was for leverage so he can earn hundreds of millions of dollars..
The companies are still not operating profitablly what you conveniently left out of your post is the information in the link you provided where it clearly states
Quote:
The Trump company has struggled and has not been profitable since leaving the bankruptcy protection program, but investors see an opportunity to turn that around with the right marketing and business approach.
Based on the 10K SEC filing for Trump Entertainmnet Resorts Inc. for 2009 they have operated at a LOSS for the following years.
Also the conpany is no longer listed on the NASDAQ or New York Stock Exchanges (Not a good sign for company as large as this). It's on the OTC exchange.
Trump Entertainment Resorts Inc. filed for bankruptcy on Feb 17, 22009 -- its third bankruptcy filing since 1991. The Atlantic City, N.J.-based casino operator entered Chapter 11 again when it failed to make interest payments on $1.25 billion worth of notes on Dec. 1, 2008. The company was overleveraged with a capital structure that was instituted during its 2004 bankruptcy filing. According to court documents, Trump Entertainment has $1.74 billion in total debt and $2.06 billion in assets.
TER has been steadily losing money at its casinos as Atlantic City, N.J., struggled due to gaming competition in nearby Pennsylvania. A partial New Jersey smoking ban in the casinos and the poor economy also didn't help. Read on.
Also there is NOTHING in your link that substantiates the $700 million buyout offer. Unless you can provide a link from a credible source in relation to the $700 buyout figure I'll have to assume you pull it out of ************.
The bottom line is Trumps Resorts Inc. is operating at a loss and it's at $1.74 BBILLION in debt.
But how long between when they were paid from when they were owed? And I know it's legal but do really you think it's fair to be able to claim bankruptcy on a bussiness that is only 1% percent of your overall wealth?
Absolutely.. Every business transaction is a different business deal. You cant co-mingle assets from one business to another one because then creditors would be able to attach everything you own. Its called a corporate veil. Mingling the funds would be ILLEGAL..
Yes, on the surface, but on the flip-side, with that line of thought, wouldn't it make even more sense to run somebody who has never had to declare? If this were the case, shouldn't we all be prodding Bill Gates, Steve Jobs or that Facebook Zuckerberg kid to run? "Hey, you made a billion dollars, why don't you drop everything and run the most powerful nation on the planet".I just can't see this. We are not talking about a hotel, we are not talking about a casino, we are talking about a nuclear superpower.
I'm still thinking "no".
Actually if you'd have to pick a guy on the basis of their skill at running and growing a business I'd pick any of the three guys you mentioned over Donald Trump.
Absolutely.. Every business transaction is a different business deal. You cant co-mingle assets from one business to another one because then creditors would be able to attach everything you own. Its called a corporate veil. Mingling the funds would be ILLEGAL..
You are a lawyer right because you sound just like my son and late father!!LOL I know its legal but does it make it right? I'll guess we'll just agree to disagree on Trump!!
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
because you sound just like my son and late father!!LOL I know its legal but does it make it right? I'll guess we'll just agree to disagree on Trump!!
