Donald Trump

[Bubba Wheels]

So the biggest fraud in American pop culture and business has filed for bankruptcy a second time. For all those idolizing him, Barnum was right as rain.

[Ramzavail]

How does he file for bankruptcy?

This guy has the most popular show on TV.

oh and he owns practically 1/4 of the real estate in NYC.

[Franklinnoble]

Trump is the biggest smoke-and-mirrors "millionaire" on the planet.

He's never earned a dime of his own money. Everything he has is made off of borrowing money.

[rkmsuf]

How can you be a fraud when you have gold plated toilet paper?

[TLK]

and I thought he was doing so well......

[spleen1015]

His casino company is bankrupt, not him right?

[John Galt]

Originally Posted by spleen1015

His casino company is bankrupt, not him right?

Correct. There is a BIG difference. The fact that always includes his name in his holdings confuses matters, but this has nothing to do with Trump's personal wealth.

[Franklinnoble]

Originally Posted by John Galt

Correct. There is a BIG difference. The fact that always includes his name in his holdings confuses matters, but this has nothing to do with Trump's personal wealth.

Correct. Because Trump makes sure his salary always gets paid, even while his companies are in the midst of bankruptcy.

[TLK]

Entertainment - AP

Trump Casino Empire Files for Bankruptcy 1 hour, 32 minutes ago By JEFFREY GOLD, AP Business Writer NEWARK, N.J. - Donald J. Trump's casino empire has filed for bankruptcy protection after months of negotiations with bondholders over restructuring a crushing debt. AP Photo Trump Hotels & Casino Resorts Inc. and numerous related operations filed for protection from its creditors under Chapter 11 of the bankruptcy code on Sunday in U.S. Bankruptcy Court in Camden, N.J. The Trump casino business consists mainly of three Atlantic City properties and a riverboat casino in Indiana and are only a small part of Trump's overall real estate empire. The filings come even as Trump, the celebrity developer and best-selling author, has returned to the spotlight with the television show "The Apprentice," which turned "You're fired" into a national catch phrase. In a telephone interview Monday, Trump said he will remain chairman and CEO of Trump Hotels & Casino Resorts, but his share would be reduced to 27 percent from 47 percent under a proposed restructuring plan reached with bondholders last month. He would still be the largest single shareholder and would still be running the company, he said. Trump denied the bankruptcy was a setback. "I don't think it's a failure, it's a success," he said in the interview. "In this case, it was just something that worked better than other alternatives. It's really just a technical thing, but it came together." "We have one of the most powerful gaming companies the day it comes out (of bankruptcy). There's no way we could have done that without the 'B' word," he said. He said "the future looks very good." The Trump casino operations have been fighting to survive amid debt that has hampered Trump's efforts to maintain and expand his Trump Marina, Trump Taj Mahal and Trump Plaza casinos in Atlantic City. The properties have been hurt badly by new competition from the Borgata Hotel Casino & Spa and other casinos. The filings list debt of about $1.8 billion in debt, which Trump said would be cut by $500 million. The interest rate on the debt would be reduced to 8 percent, from 15 percent, under the bankruptcy reorganization plans, he said. The company would also be able to draw on a $500 million credit line at 4 percent interest, he said. He declined to predict how long it will take for the company to emerge from bankruptcy. "I thought about taking it private, but it wouldn't have given us the same power we have now," Trump said. He said the restructured company would expand Trump Taj Mahal, his largest Atlantic City casino, and renovate the others. Trump also noted the casinos are just part of his overall real estate empire. "This represents less than 1 percent of my net worth, but it is still an important company to me," he said. Jane Pedreira, an analyst of fixed income gaming bonds for Lehman Brothers, said the Trump casinos are competitive now, and should do better after bankruptcy reorganization. "This is not a doomsday scenario. He just needs to shrink his debt," Pedreira said. "When you have that much debt, you can't leverage up to affect any large-scale expansion." She said negotiations with bondholders apparently got nearly all to agree to changes in the bond agreements, but failed to get the 100 percent, which would have made for a swifter course through bankruptcy. In addition to the three Atlantic City properties, Trump Hotels & Resorts owns a riverboat casino located in Gary, Ind., and manages Trump 29 Casino, a Native American owned facility in California. Shares of Trump Hotels & Casino Resorts have been trading at about 50 cents in the fall. The price had been in the $2 range before an announcement in August that the company would seek bankruptcy restructuring in which Donald Trump would surrender much of his control. It is the second time Trump casinos filed for bankruptcy court protection. In 1992, Trump Taj Mahal, Trump Castle and Trump Plaza ended up in Chapter 11, burdened by more than $1 billion in debt and hurt by the 1990-91 recession. Trump later regained control of the casinos, but high interest payments ate away at the company's bottom line, making it impossible to finance capital improvements at a time when Atlantic City competitors were luring gamblers away. ___

[gottimd]

Originally Posted by spleen1015

His casino company is bankrupt, not him right?

If he went bankrupt, Im sure that Fiance of his would be out the door in .0000001 milliseconds.

[spleen1015]

Originally Posted by gottimd

If he went bankrupt, Im sure that Fiance of his would be out the door in .0000001 milliseconds.

No doubt.

Trump Casinos just won the fight for the rights to a new casino here in Indiana. Some city counsel had 3 to choose from and they picked Trump Casinos knowing they were headed to bankrupcy.

[John Galt]

Originally Posted by Franklinnoble

Correct. Because Trump makes sure his salary always gets paid, even while his companies are in the midst of bankruptcy.

I think that oversimplifies it a bit. Trump is usually the CEO at his companies. That isn't the same thing as being an owner. He doesn't get to control his salary and the companies don't belong to him. The fact that his corporations are restructuring is not unusual at all and I would say a great many millionaires/billionaires in America have had companies go through bankruptcy.

Trump usually pursues a high leverage financing model with his companies which makes them more prone to bankruptcy, but he is far from unusual in that regard.

[SunDancer]

Originally Posted by Franklinnoble

Correct. Because Trump makes sure his salary always gets paid, even while his companies are in the midst of bankruptcy.

And how this differ from every other CEO?

[SunDancer]

Originally Posted by John Galt

I think that oversimplifies it a bit. Trump is usually the CEO at his companies. That isn't the same thing as being an owner. He doesn't get to control his salary and the companies don't belong to him. The fact that his corporations are restructuring is not unusual at all and I would say a great many millionaires/billionaires in America have had companies go through bankruptcy.

Trump usually pursues a high leverage financing model with his companies which makes them more prone to bankruptcy, but he is far from unusual in that regard.

Yeah, that's how Trump does business. Which works I guess in the real estate industry. I'll give him that, he is an excellent real estate mogul and I haven't heard any of his real estate properities go bankrupt.

I don't like Trump, but I think he gets piled on alittle too much. I'm sure many people wouldn't mind the things he has (the golf courses, the penthouse-, the HOT finance, the jet-but I don't mean these things ). His casinos are terrible, well, because he tries to "Trump" them up (over-the-top gold), and Atlantic City isn't exactly Las Vegas. Trump is involve, but I think the day-to-day operations is in the hands of the management. He's a great figure and a PR man (he bullshits, yes, I know) who has the charmisa. But let me ask you, I don't know many billionaires or super-wealthy people who don't have an ego and a nice-to-lavish lifestyle. Mark Cuban does, Richard Branson does. Larry Ellison does. I'm sure we all be the same.

[Franklinnoble]

Originally Posted by SunDancer

Yeah, that's how Trump does business. Which works I guess in the real estate industry. I'll give him that, he is an excellent real estate mogul and I haven't heard any of his real estate properities go bankrupt.

I don't like Trump, but I think he gets piled on alittle too much. I'm sure many people wouldn't mind the things he has (the golf courses, the penthouse-, the HOT finance, the jet-but I don't mean these things ). His casinos are terrible, well, because he tries to "Trump" them up (over-the-top gold), and Atlantic City isn't exactly Las Vegas. Trump is involve, but I think the day-to-day operations is in the hands of the management. He's a great figure and a PR man (he bullshits, yes, I know) who has the charmisa. But let me ask you, I don't know many billionaires or super-wealthy people who don't have an ego and a nice-to-lavish lifestyle. Mark Cuban does, Richard Branson does. Larry Ellison does. I'm sure we all be the same.

I think you're mistaken.

For every millionaire like Trump, there's a hundred others who live quiet lives driving around in nondescript white pickup trucks, minding their own business, and not making public asses of themselves.

[SunDancer]

Originally Posted by Franklinnoble

I think you're mistaken.

For every millionaire like Trump, there's a hundred others who live quiet lives driving around in nondescript white pickup trucks, minding their own business, and not making public asses of themselves.

But Trump isn't a "millionaire", he's a Billionaire ( Forbes and all other sources that call him one).

[MizzouRah]

I can't stand hearing him on the radio in the morning with his little 3 min skits. Get off my sports station!!!!!!


Todd

[Desnudo]

Originally Posted by SunDancer

But Trump isn't a "millionaire", he's a Billionaire ( Forbes and all other sources that call him one).

Bill Gates and Warren Buffett come to mind as "unflashy" Billionaires.

[rkmsuf]

That looks pretty flashy to me.

[Desnudo]

Sunglasses and a black jacket? That haircut was and is a complete counter to any pretensions of flashiness.

[rkmsuf]

Originally Posted by Desnudo

Sunglasses and a black jacket? That haircut was and is a complete counter to any pretensions of flashiness.

It beats Trump's!

[Desnudo]

Originally Posted by rkmsuf

It beats Trump's!

But that's not Trump's hair. Besides, plotting world domination requires a pretty low profile.

[rkmsuf]

Originally Posted by Desnudo

But that's not Trump's hair. Besides, plotting world domination requires a pretty low profile.

[SunDancer]

Originally Posted by Desnudo

Bill Gates and Warren Buffett come to mind as "unflashy" Billionaires.

I don't know. Gate's giantic mansion with art pieces worth big-time money, he still spends his money. I'm sure he's got other toys and things as well. But he's a nerd too.

I do not like Trump that much, but he doesn't give a damn, and if he's not doing any illegal or harmful, why should he?

[Desnudo]

Exactly. Not flashy. In fact, anti-flashy. Flashy gets destroyed when Bill Gates comes into contact with it.

[SunDancer]

Originally Posted by Desnudo

Exactly. Not flashy. In fact, anti-flashy. Flashy gets destroyed when Bill Gates comes into contact with it.

LOL. Do "flashy" and Bill Gates go together? Sorry, I got flashy and lavish maybe mix up. Gates do live nicely, but he is pretty low-key about it. I mean, atleast he wears suits now instead of the pocket protecters and straps. If you want to see flashy, go see Skydog and his patroitic underwear.

[rkmsuf]

Ever seen Gates at the "club"...that boy flashes more bling than Mr. T.

[SunDancer]

Originally Posted by rkmsuf

Ever seen Gates at the "club"...that boy flashes more bling than Mr. T.

I remember reading or maybe hearing Mark Cuban say that Gates would pick up more chicks then anyone when he went to some place that he was at with Gates.

[SunDancer]

So, basically, the casinos aren't bad, but the debt and the interest rates is what killing them?

[Desnudo]

Originally Posted by SunDancer

I remember reading or maybe hearing Mark Cuban say that Gates would pick up more chicks then anyone when he went to some place that he was at with Gates.

If that's true, it confirms Willie Nelson's hypothesis that money makes women horney.

[SunDancer]

Originally Posted by Desnudo

If that's true, it confirms Willie Nelson's hypothesis that money makes women horney.

Willie Nelson and Donald Trump in the same thread. Scary.

[Bubba Wheels]

Originally Posted by Franklinnoble

I think you're mistaken.

For every millionaire like Trump, there's a hundred others who live quiet lives driving around in nondescript white pickup trucks, minding their own business, and not making public asses of themselves.

"The Millionaire Nextdoor", Ford pickup is the limo of choice

[SunDancer]

Originally Posted by rkmsuf

Ever seen Gates at the "club"...that boy flashes more bling than Mr. T.

I can see it now, a gold-plated pocket protector.

[Franklinnoble]

Originally Posted by SunDancer

I can see it now, a gold-plated pocket protector.

I hear Rolex makes a sweet calculator watch.

[SunDancer]

Mark Cuban takes a poke at Trump (blogmaverick.com):


Donald, leave it to you to file bankruptcy and rather than apologizing to shareholders that were wiped out, brag about it being a positive step forward for the company. It is what it is huh Donald ?

On TV, viewers do find you entertaining. Its hard to comprehend of anyone being as self important and delusional about themselves as you are Donald. That can be fun to watch at times. But it does get old. But you already know that from your TV ratings dont you ?

How does it feel to know that in future years when the question is asked , “Which show was the anchor when NBC’s Must See Thursday Night slipped from its perch for the first time in decades ?”, the answer will be Trump’s show ?

Better yet, how does it feel to go from being a self proclaimed ratings machine to having your viewership doubled by the competition, which has more than once destroyed you by a cool 15mm or more viewers ?

But I digress.. Lets get back to the business of your casinos. Oops, my mistake. I guess thats not really true. They used to be your casinos, but you made so many poor business decisions , that they are not yours anymore. They belong to the bondholders. You are now a minority shareholder. More importantly, if reports circulating now are true, you no longer control the board. Bondholders got 5 seats, you got to appoint 3, the 9th is a wildcard.

But here comes the fun part. Not only are you out of control, you are now out of excuses. You actually have to make this work.

You have working capital. You have your self proclaimed business ability. You have your name on the buildings. Now lets see what you can do donald. Can you actually make this work ? Can you compete with the Borgota, which has been kicking ass in Atlantic City ? What about the other new casinos that are planned there ? Or the already in motion expansions ? Will AC grow like Vegas, or will you be forced to bus in the quarter clubs ? Can you compete with what is sure to be competition from the state of Illinois with your spot in E Chicago ? Can you make a business in French Lick Indiana ?

This is going to be far more fun to watch then The Apprentice.

How long do you think your board will give you to make the casinos work ? 1 year ? 2 years ?

I cant wait to watch. Since the company will remain public after you come out of Chapter 11, we will be able to keep score every single day.

Thats a tough spot to be in as Chairman and CEO of a company that has your name on the door and your initials as its stock symbol. Thats pressure Donald .

Me, Im going to have the stock on my short watch. My guess is that once it emerges from Ch11, it will run up on speculation by momentum daytraders. They will all pile in the stock on the expectation that you will pump and promote the stock. Which you will. That is exactly what I want.
I will just watch the stock. Read the SEC filings. Read the gaming filings and reports. Make some money off the stock. All the while having fun watching you sweat it out.

[Desnudo]

Originally Posted by Franklinnoble

I hear Rolex makes a sweet calculator watch.

We shouldn't forget about Gates' old budd either.

[Franklinnoble]

Originally Posted by SunDancer

Mark Cuban takes a poke at Trump (blogmaverick.com):

... But you already know that from your TV ratings dont you ?

How does it feel to know that in future years when the question is asked , “Which show was the anchor when NBC’s Must See Thursday Night slipped from its perch for the first time in decades ?”, the answer will be Trump’s show ?

Better yet, how does it feel to go from being a self proclaimed ratings machine to having your viewership doubled by the competition, which has more than once destroyed you by a cool 15mm or more viewers ?
....

Uhh... Mark Cuban should be the LAST billionaire idiot to be poking fun at someone's reality show TV ratings...

[SunDancer]

Originally Posted by Franklinnoble

Uhh... Mark Cuban should be the LAST billionaire idiot to be poking fun at someone's reality show TV ratings...

I know. Cuban reminds me of Jonh Kerry alittle, he loves to bash Trump, but he doesn't really have anything to back up besides his two ventures he's launch and sold. Cuban has just as big of an ego as Trump.

[Passacaglia]

So that proves you don't need to know English very well to be a billionaire.

[SunDancer]

Originally Posted by Desnudo

We shouldn't forget about Gates' old budd either.

Man, they look like they have evil ideas in that picture.

[rkmsuf]

1 Million Dollars!!! MMMMMWWWWWWAHAHAHAHAHAHAHHAHAAHAHA.

[Desnudo]

Originally Posted by SunDancer

Man, they look like they have evil ideas in that picture.

Evil Genius Gates Drops Windows 98 Into NYC Water Supply

AP-NEW YORK—Determined to circumvent Justice Department action forestalling the release of his powerful new operating system, Microsoft CEO and evil genius Bill Gates dropped Windows 98, coded into...

[SunDancer]

Originally Posted by Franklinnoble

Uhh... Mark Cuban should be the LAST billionaire idiot to be poking fun at someone's reality show TV ratings...

Did Cuban's show even go all the way to the last eposide? The guy's show was all about kissing up to him. Atleast Trump's show is actually about getting rid of the people who screw up the most, and not about who kiss his ass the most.

[Franklinnoble]

Originally Posted by SunDancer

Did Cuban's show even go all the way to the last eposide? The guy's show was all about kissing up to him. Atleast Trump's show is actually about getting rid of the people who screw up the most, and not about who kiss his ass the most.

I read someplace that they skipped an episode or two and ran the finale early, just to get it over with.

[Bubba Wheels]

Watched "Billionaire" with Branson once. Seems pretty good, Branson's the real deal unlike Trump. But all these shows are starting to wear thin.

[SunDancer]

Originally Posted by Bubba Wheels

Watched "Billionaire" with Branson once. Seems pretty good, Branson's the real deal unlike Trump. But all these shows are starting to wear thin.

Branson, I like. A high school dropout who has dyslexia (spelling?). He's really successful, and did it from the ground up. He's pretty good to all his employees, and is really a great marketer. His show is alright, but it's "fear factor" for me. I like his advice he gives, but The Apprentice is still unique really. Cuban's show really made no sense at all, and was pretty much giving away $1 million to who he liked the best. Branson is looking for an "president", but he is more testing the character of the people more then the business skills. What are the ratings for Trump's show?

[Philliesfan980]

Originally Posted by SunDancer

Branson, I like. A high school dropout who has dyslexia (spelling?). He's really successful, and did it from the ground up. He's pretty good to all his employees, and is really a great marketer. His show is alright, but it's "fear factor" for me. I like his advice he gives, but The Apprentice is still unique really. Cuban's show really made no sense at all, and was pretty much giving away $1 million to who he liked the best. Branson is looking for an "president", but he is more testing the character of the people more then the business skills. What are the ratings for Trump's show?

I agree with your analysis.

As for the ratings, I don't think he cracked the top 20 this week. To me it seems like this cast is pretty weak. Last time, there were a number of viable canidates, but this time, it seems like the producers went more for the personalities of these people than anything else. After checking the bio's on the people on the show, I'm really starting to wonder if their credentials are fake, because they make the worst possible decisions on the show. Either that or the shows fake.

[SunDancer]

Originally Posted by Philliesfan980

I agree with your analysis.

As for the ratings, I don't think he cracked the top 20 this week. To me it seems like this cast is pretty weak. Last time, there were a number of viable canidates, but this time, it seems like the producers went more for the personalities of these people than anything else. After checking the bio's on the people on the show, I'm really starting to wonder if their credentials are fake, because they make the worst possible decisions on the show. Either that or the shows fake.

Your talking about Branson's show right? I don't find Trump's cast too overwhelming as well. But they seem to have a mix of wall street stock investors (which they don't deal directly with management unless the own the company), and lawyers.

[Desnudo]

Originally Posted by Philliesfan980

I agree with your analysis.

As for the ratings, I don't think he cracked the top 20 this week. To me it seems like this cast is pretty weak. Last time, there were a number of viable canidates, but this time, it seems like the producers went more for the personalities of these people than anything else. After checking the bio's on the people on the show, I'm really starting to wonder if their credentials are fake, because they make the worst possible decisions on the show. Either that or the shows fake.

It could be a combination of how they produce the show and the pressure of performing "work" before an audience of millions. Plus the tasks Trump gives are intentionally ridiculous, making it even tougher.

[Philliesfan980]

Originally Posted by Desnudo

It could be a combination of how they produce the show and the pressure of performing "work" before an audience of millions. Plus the tasks Trump gives are intentionally ridiculous, making it even tougher.

Agreed. Its easy to be critical looking from a different point of view. If someone had a video camera on me all day, I'm sure I'd wonder what the hell I was doing sometimes .

Even so, their first instincts are terrible, which is normally just something you have. I don't see any of them having any real leadership qualities.

Does anyone want to punch Caroline in the gut after most of the episodes?