Posted on 02/04/2016 2:23:48 AM PST by RC one
Their meltdowns run parallel to Trump’s.
Chapter 11 reorganization? 4 times. That is out of 750 companies. Chapter 13 liquidation? never.
To put that into perspective for you, my wifes employer, an automotive supplier has been in and out of 11 reorg 6 times in the last 15 years. Each time it was about to be acquired, wipe out the debt the last idiot ownership racked up.
I would say Trump’s record is rather stellar. 4 mistakes in 750 companies? No wonder he amassed 10+ billion.
Dumb people think all chapters are equal. 11 is useful because it retains the company and many of the jobs, but some unsecured (unsecured=gamble taken) creditors get hurt, and you get the opportunity to renegotiate all contracts. Yes please... reread those last three words. Stuck with a contract where for every widget you make you lose $1 and you are making 40 million widgets a year in an ironclad contract. There is a way out. It is called a chapter 11 reorganization bankruptcy.
13 is really bad. No more jobs, no more company, and the creditors get virtually nothing.
Cuban’s description of Trump in the article sounds almost like a childlike adoration.
what does everybody hate about Ted Cruz? Seriously.
Whatever someone tells them to.....
His lack of morals and ethics. His preaching. His falseness. His claiming to be the moral authority while clasping a dagger behind his back looking for an opportunity to plunge it into you. With Trump, what you see is what you get, warts and all. With Cruz, not so much.
It is not just the number of bankruptcies but the size. How about the billion or so dollars lost by investors in Trumps bumbling? He made it plain he paid himself first.
A Shark jumped the Shark
Almost as bad as the poisoned ConserativeReview who lost their soul when they let Mark Levin infect their site.
I don’t share your perspective.
The bankers got zinged. They gambled being unsecured. That simple. Not many individual investors, dare I say any individual investors got zinged. Vendors on the other hand, not sure. Haven’t read the bankruptcy Judges ruling or final dispositions in any of the cases.
Coming whole out of an eleven bankruptcy is bad in your eyes... HOW? I have seen it done by only 2 of the owners that declared 11 at my wifes employer. I wholeheartedly respect those two owners. Both times the banks were squeezing them too hard, and were unwilling to be reasonable and renegotiate revolver terms. The banks were unwilling to give up the cash cows they had on their hands, and got burnt as a result.
Reminds me of an adage I learned while trading commodities.
“Pigs get fat, but Hogs get slaughtered”
Knowing the line between the two is tough for bankers.
yea but he only does it to other politicians; politics is a contact sport. Who cares? If Cruz did that stuff to ordinary American people, then I’d understand. Cruz demonstrated courage at IDC the other year, which is one of his biggest selling points with me.
02/03/2016....... Interesting. Very Very Interesting.
Why so late to the party? No burner accounts left at Cruz campaign HQ?
I’m not a Cruz guy; I think he’s a flip flop on immigration and I don’t see him with the kind of clear eyed plan with Islam refugees that Trump has. But still tho, who cares if he’s mean to politicians.
At a critical time, a do or die time, I see US has having a choice between some governors, a bunch of Senators, a successful surgeon, an ex-tech exec who was beaten by Barbara Boxer in her only political run and a successful entrepreneur who has amassed a fortune creating value, most notably by rehabbing and developing real estate.
Of those Senators, one is a Clinton, one is an old socialist, two are anchor babies, one US, one Canadian, and the rest are dropping out.
When I say it is "do or die" for US, it's because I really don't believe we have any more time or options left to avoid the consequences that we, the people, were made to sign for.
Those bills are coming and Trump, on paper, is by far the best bad option we have to survive the first wave of what we've done to ourselves.
I suspect an older Churchill-esque character/leader with a lot of experience is the best bet for what we will face and Trump, on paper, is the only one of those in the race.
Trump's challenge, and forte, is moving ideas on paper into reality.
Can he do that now with himself as President Trump or will "The Donald" self-detonate and then Trump, on paper, burns up, burns out and fades away right before our eyes?
No flip flop on immigration. Don’t believe media or even some Free per lies.
Hey Cuban, how did your Mavs do against the Spurs tonight, BWAHAHAHAHAHAHAHA!
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