Posted on 09/24/2015 9:27:26 AM PDT by MDspinboyredux
Thirty years ago, on its opening day in 1984, Donald Trump stood in a dark topcoat on the casino floor at Atlantic Citys Trump Plaza, celebrating his new investment as the finest building in Atlantic City and possibly the nation.
Last week, the Trump Plaza folded and the Trump Taj Mahal filed for bankruptcy, leaving some 1,000 employees without jobs.
Trump, meanwhile, was on twitter claiming he had nothing to do with Atlantic City, and praising himself for his great timing in getting out of the investment.
In America, people with lots of money can easily avoid the consequences of bad bets and big losses by cashing out at the first sign of trouble.
The laws protect them through limited liability and bankruptcy.
But workers who move to a place like Atlantic City for a job, invest in a home there and build their skills, have no such protection. Jobs vanish, skills are suddenly irrelevant and home values plummet.
Theyre stuck with the mess.
(Excerpt) Read more at billmoyers.com ...
That is right I will say it again.....
Go, Trump, GO!!
Did you see all the ads around that article? Moyers A Loser.
Robert Reich is a disgrace and only stupid people pay him money.
You sure are busy today.
5.56mm
Robert Reich?
You use Robert Reich to troll Trump? Give it a rest.
Go, Trump, GO!!
+1,000
“Robert Reich?
You use Robert Reich to troll Trump? Give it a rest.
Go, Trump, GO!!”
Jim Robinson
You have now been officially Zotzed.....
Proceed at your own risk....
Well as I said yesterday....stay tuned to the same bat channel, same bat time, more hits on the Trump bat...
I hope and pray that Trump knocks all the msm, talking heads, RINOs, washington cartel and RATS on their butts...
Trump 2016!!! All the way to the White House!!!
Did he sit on his briefcase to write this?
Blah, blah blah.
The average person is also impacted when gas goes up a buck or two but not billionaires.
Same with food, taxes, rent, etc.
That’s just hurtful! LOL
I dont mind posts from liberal sites. Its a good thing to be exposed to what the creeps are discussing.
This is why we should all work for the govt, live in govt housing, have govt provided everything. A risk free life. Who needs liberty? /sarcasm
Two posts and a couple replies?
There are posters here who submit 10-15x that many in a day?
Just looking to add a little balance to the information being provided.
Pay no attention to the hundreds of millions made by the Clintons for selling secrets, brokering power, and just plain talking out of their backsides for bribes thinly disguised as ‘fees’.
We already know what they are discussing. We should not give them hits by going to their propaganda sites.
They can't cash out of a bad bet at the first sign of trouble unless they can fine someone to cash in. A dumb and ignorant statement by Reich.
You've just described any kind of franchise, where actors, athletes (Michael Jordan), fast food chains (McDonald's), corporations (GE, Zenith) and other iconic brands lend their names to products and ventures, but only the people and companies who actually invest in those products and ventures risk their financial capital. However, note that to be able to sell these franchises, they had to attain a reputation for (1) quality products and (2) making money for investors. Also, note that while brand equity seems intangible, it's genuine.
Lose too much investor money, and brand equity evaporates. Business people are not dummies - they are idiots savant whose sole focus is on recovering their investment and making a profit. If Trump developed a reputation for losing investor money, he'd never have become a billionaire.
Just as not everything Michael Jordan endorses makes money for the company paying for his seal of approval, and McDonald's has franchisee restaurant closings, someone like Trump is going to have projects that don't make money. The difference is that Trump's projects are orders of magnitude bigger than chain restaurants, so the failures will be much higher profile.
LOL!
The reference to Bill Moyers is enough to discredit the article as being nothing more than anti-America socialist tripe.
But piling Robert Reich into the mix takes it to a whole different level of commie bilge...
He and Paul Krugman swap spit.
5.56mm
It didn’t work. Sorry.
You should drink more.
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