So, you want a business man to run America?

[Mai72]

http://time.com/4395236/hillary-clinton-donald-trump-speech-transcript-atlantic-city/

Looks like Hillary is going to hammer away on Donald's Atlantic City business record up until election day. It's going to be interesting to see if she can erode his support. How can we support a man who made millions off the backs of family business owners? He basically took their money, refused to pay them back and left Atlantic City. How can he be for the middle class when his actions says otherwise?

Part of Hillary's speech:

He intentionally ran up huge amounts of debt on his companies – hundreds of millions of dollars. He borrowed at high interest rates – even after promising regulators that he wouldn’t. What came next? He defaulted on those loans. Didn’t pay them back. And at the end, he bankrupted his companies – not once, not twice, but four times.
Here’s what he said about one of those bankruptcies: ‘I figured,’ he said, ‘it was the bank’s problem, not mine. What the hell did I care?’
I’m guessing many of you have had debt at some point – student loans, mortgages, credit cards. You couldn’t just tell the bank that you just didn’t feel like paying, could you?
And here’s an important thing about how Donald Trump operates. He doesn’t default and go bankrupt as a last resort. He does it over and over again on purpose – even though he knows he will leave others empty-handed while he keeps the plane, the helicopter, the penthouse.
He convinced other people that his Atlantic City properties were a great investment, so they would put in their own hard-earned money. But he always rigged it so he got paid, no matter how his companies performed. When this casino collapsed because of how badly he managed it, hundreds of people lost their jobs; shareholders were wiped out; lenders lost money; contractors – many of them small businesses – took heavy losses. And many themselves went bust.
But Donald Trump? He walked away with millions.

 

[master_shake_]

She's just jealous because it sounds like he has more experience with debt based economics.

He would've handled the financial meltdown better than dubyah.

 

[Sonikku]

If everyone acted like Trump I doubt economies would even work. When no one works to prop up the system and everyone is exploiting it and working it over for personal gain it collapses.

 

[woolfe9998]

Here's a companion piece about how Trump is a serial deadbeat, doesn't pay his vendors, has been sued literally 1000's times for it, and has put many contractors out of business due to non-payment and legal fees.

http://www.usatoday.com/story/news/...bills-republican-president-laswuits/85297274/

Good investigative piece with loads of facts. Worth reading.

 

[Jhhnn]

Trump? An astounding con artist? Couldn't Be!

 

[sm625]

Trump didnt cause Atlantic City to go down the tubes. What would Hillary have done? Borrow $200 billion to prop it up and bail everyone out? lol... Actually she probably would have done exactly that, if her assets were allocated the way Trump's were. But since her assets are safely tied away in arms deals for terrorist nations, they are completely safe from the gyrations of the real estate markets and the general economy. There will always be money for arms deals and bribes.

 

[Jhhnn]

Trump didnt cause Atlantic City to go down the tubes. What would Hillary have done? Borrow $200 billion to prop it up and bail everyone out? lol... Actually she probably would have done exactly that, if her assets were allocated the way Trump's were. But since her assets are safely tied away in arms deals for terrorist nations, they are completely safe from the gyrations of the real estate markets and the general economy. There will always be money for arms deals and bribes.

Sweet duh-version into conspiracy theory territory. Only you could go there.

 

[shortylickens]

If everyone acted like Trump I doubt economies would even work. When no one works to prop up the system and everyone is exploiting it and working it over for personal gain it collapses.

they wouldnt. he plays business like a Nintendo. When he fucks up he hits the reset button.
Thats fine for one man, but a country cannot survive that way. Is he gonna have America declare bankruptcy so it can start over again?

 

[agent00f]

Trump didnt cause Atlantic City to go down the tubes. What would Hillary have done? Borrow $200 billion to prop it up and bail everyone out? lol... Actually she probably would have done exactly that, if her assets were allocated the way Trump's were. But since her assets are safely tied away in arms deals for terrorist nations, they are completely safe from the gyrations of the real estate markets and the general economy. There will always be money for arms deals and bribes.

Trump is reputedly pretty bottom of the barrel even among NY real estate, eg:

https://www.quora.com/What-is-Donald-Trumps-general-reputation-amongst-NYC-real-estate-professionals

Most of his actual stuff/$ is inherited from his father (who built up the empire starting with borderline fraudulent government contracts, expanding into even more low-income/slum housing).

His own company is more of a branding exercise targeted at aspiring middle america or the nouveau riche who just made it.

 

[trenchfoot]

What a coincidence that Trump and Bush 43 have something in common in reference to certain aspects of their work histories.

 

[compuwiz1]

So.....If a man had 522 businesses and 7 of them went bankrupt, what would be his success rate vs. failures? Not supporting Trump, but having been in the business world, I know people who have had 5 out of 5 start up failures, until they finally got something right.

The point I'm making is that most people with business depth understand these kinds of things, and a few business failures, out of several hundred, is a non starter, politically. It's just not that damning.

 

[agent00f]

So.....If a man had 522 businesses and 7 of them went bankrupt, what would be his success rate vs. failures? Not supporting Trump, but having been in the business world, I know people who have had 5 out of 5 start up failures, until they finally got something right.

The point I'm making is that most people with business depth understand these kinds of things, and a few business failures, out of several hundred, is a non starter, politically. It's just not that damning.

The businesses that went south represent some of the larger ventures he's tried to strike on his own.

Folks who don't do or otherwise aren't in business should know that people like Trump don't usually negotiate contract details (they pay people to do that), and for the most part tend to be salespeople selling their own reputation.

Given what his reputation is within the NY real estate community, it starts to make sense why he's shifting more to branding intl properties in places where his reputation don't precede him.

 

[Painman]

It's almost like he destabilized a nation of 6.4 million people and then left it to the wolves!

 

[jana519]

It's almost like he destabilized a nation of 6.4 million people and then left it to the wolves!

If it weren't for Hillary Clinton, Libya would be a model of constitutional democracy in the Middle East!

 

[IBMer]

So.....If a man had 522 businesses and 7 of them went bankrupt, what would be his success rate vs. failures? Not supporting Trump, but having been in the business world, I know people who have had 5 out of 5 start up failures, until they finally got something right.

The point I'm making is that most people with business depth understand these kinds of things, and a few business failures, out of several hundred, is a non starter, politically. It's just not that damning.

Oh, just because he didn't use chapter 11 on all of his failures doesn't mean there weren't a lot more than 7 failures. That list is long.

 

[compuwiz1]

Oh, just because he didn't use chapter 11 on all of his failures doesn't mean there weren't a lot more than 7 failures. That list is long.

My dog has probably buried more bones than I, or my lawn mower have found too. I'm sure you're right though.

 

[Painman]

If it weren't for Hillary Clinton, Libya would be a model of constitutional democracy in the Middle East!

Overthrowing Saddam (and creating a subsequent vacuum) made Iraq into such a wonderful place too!

http://www.bbc.com/news/world-middle-east-36720720

 

[michal1980]

So you'd rather have a person too stupid to know what email to use? A person so stupid they think cleaning their server means wiping it with a cloth?

 

[PokerGuy]

Of course hildebeast will continue to spew her crap, and her idiot followers will lap it up. Trump will spew his crap, and his idiot followers will lap it up.

Those who care for neither of them are screwed this election cycle, scum or scum.

 

[fskimospy]

This is also a good piece on his business 'acumen'. Basically Minsky analyzed how he made money during the 80's and early 90's and determined he was using what he referred to as 'Ponzi financing'. Trump's buildings were almost never profitable enough to cover his debt payments but so long as asset prices were rising he could simply borrow more money to pay the old debts. The collapse of those deals wasn't bad luck, it was inevitable. It was all just another con job.

http://therealdeal.com/2016/04/26/h...s-had-to-say-about-trumps-real-estate-skills/

 

[WHAMPOM]

http://time.com/4395236/hillary-clinton-donald-trump-speech-transcript-atlantic-city/

Looks like Hillary is going to hammer away on Donald's Atlantic City business record up until election day. It's going to be interesting to see if she can erode his support. How can we support a man who made millions off the backs of family business owners? He basically took their money, refused to pay them back and left Atlantic City. How can he be for the middle class when his actions says otherwise?

Part of Hillary's speech:

Trump is an almost perfect example of third world dictators, skim off everything he can and leave the ruins for someone else to take care of.

 

[emperus]

So.....If a man had 522 businesses and 7 of them went bankrupt, what would be his success rate vs. failures? Not supporting Trump, but having been in the business world, I know people who have had 5 out of 5 start up failures, until they finally got something right.

The point I'm making is that most people with business depth understand these kinds of things, and a few business failures, out of several hundred, is a non starter, politically. It's just not that damning.

A start up is not a billion dollar hotel in Atlantic City. C'mon man. Defaulting and Bankruptcies are his way of Business. Those are his words. He basically does business like this. Negotiate a contract. Once you receive the product (like custom built cabinets), withhold payment and force the business to either take less or bear court fees to sue you in court, all the while not having money to continue your business.

 

[emperus]

So you'd rather have a person too stupid to know what email to use? A person so stupid they think cleaning their server means wiping it with a cloth?

You're better than that. I remember as a kid programming on a computer with a program that ran off a floppy drive. Technology has advanced so rapidly over the last 20 years, I don't blame most people over 55 for having a tough time with it.

 

[WHAMPOM]

So.....If a man had 522 businesses and 7 of them went bankrupt, what would be his success rate vs. failures? Not supporting Trump, but having been in the business world, I know people who have had 5 out of 5 start up failures, until they finally got something right.

The point I'm making is that most people with business depth understand these kinds of things, and a few business failures, out of several hundred, is a non starter, politically. It's just not that damning.

What you don't realize is those 522 are just holding companies (offshore post office boxes used to avoid USA taxes)that only exist to channel money into Trump's pocket and avoid a money trail.

 

[agent00f]

This is also a good piece on his business 'acumen'. Basically Minsky analyzed how he made money during the 80's and early 90's and determined he was using what he referred to as 'Ponzi financing'. Trump's buildings were almost never profitable enough to cover his debt payments but so long as asset prices were rising he could simply borrow more money to pay the old debts. The collapse of those deals wasn't bad luck, it was inevitable. It was all just another con job.

http://therealdeal.com/2016/04/26/h...s-had-to-say-about-trumps-real-estate-skills/

To be fair to trump, he did have some successes particularly earlier on. Like turning the Commodore Hotel into Grand Hyatt, or getting 40 Wall St on the cheap. That's simply nature of the business when you're as well connected as he (or rather his father's firm is); you get opportunities on deals others don't. Things sort of went downhill in real-estate though as his personality/character evidently include cheating others and general vindictiveness. That's a known liability that others who might do business with him factor in, and all things equal would prefer a better partner for making money.

His biggest success by far isn't really real estate, but garnering celebrity status among a lot of middle america as a successful businessman. Sort of like Newt Gingrich or Milo Yiannopoulos is what dumb people think a smart person looks like, Trump is what relatively poor people think a successful rich person looks like.