Celina Durgin is a freshman City Reporter for the Tribune.
"Rubio Can Be a Winning Voice for the GOP By Celina Durgin"
Posted on 03/08/2016 12:07:03 PM PST by reaganaut1
What is Donald Trump’s art of deal-making? Failing to uphold his end of the bargain.
In 1990, while Trump was dropping $1 million every week on his homes, yacht, private jet, and other personal expenses, he had defrauded contractors and construction workers by upwards of $60 million. His struggling casinos, airline, and real-estate holdings couldn’t simultaneously maintain his lifestyle and pay hired workers, so he chose to keep the former and cheat the latter.
Trump owed a team of construction firms and suppliers payments for their work on his Taj Mahal hotel and casino, which were nearly bankrupt. (Trump himself was about $3 billion in debt to banks and junk bond holders.) Marty Rosenberg, then–vice president of Atlantic Plate Glass, said Trump owed his company about $1.5 million in late payments for a glass job on the hotel. S. A. Miller writes in the Washington Times,
Mr. Rosenberg, who was vice president of Atlantic Plate Glass at the time, helped form a committee of construction firms and suppliers stiffed by Mr. Trump. He then served as a member of the so-called Group of Seven leading the committee’s negotiations that resulted in the contractors getting partial payments.
Atlantic Plate Glass lost about $450,000 in the settlement, said Mr. Rosenberg, adding that his personal finances took a hit because of his minority stockholder stake in the firm, and that the company struggled but overcame the loss.
Others fared worse, he said, including smaller businesses that didn’t survive.
(Excerpt) Read more at nationalreview.com ...
No they won’t. There simply isn’t any on Trump that can’t be countered 10 fold against the Clintons.
How many times has Trump set the Middle East on fire?
I believe ya
So your defense is “I know he is a crook, but there’s someone worse?”
It’s the National Review. Enough said. he made his money, and can spend it however he wishes. Who cares? Apparently, you do -
No defense. I didn’t read the article. I imagine it’s BS though.
Bottom line there’s going to be issues spun on Trump, but none, NONE, have had the kind of consequences the Clintons activities have.
Trump will positively level that bag in the general.
Were they fulfilled per the contract language? In my experience there are two sides to most such disputes.
You could find them if u wanted to, but u don’t want to, do u? And no I’m not.tired today, thanks for your concern. How are you doing today, good I hope.
Good tagline but don’t call me a “Trump fanboy.” At this point, we either back Trump, back Cruz, or back the GOPe picking a candidate via a brokered convention. Trump’s wall is the best thing I’ve heard come out of a candidate in a long time. I’m a big fan of that wall.
How does that article vindicate Trump? Here is the first paragraph:
Trump Asks Deal On Debt For Taj Work
By David Johnston, Inquirer Staff Writer
July 11, 1990
ATLANTIC CITY — By offering 20 cents on the dollar this summer and the balance later, Donald Trump won more time yesterday from angry contractors, who met here to consider filing a joint lawsuit to collect more than $72 million owed them for work on the Trump Taj Mahal Casino Resort. ****************************************************
Here is another article from the Inquirer:
For Donald Trump, A Struggle At $10,000 An Hour
By David Johnston and Barbara Demick, Inquirer Staff Writers
POSTED: June 21, 1990
...
It is known from N.J. Casino Control Commission records that Trump has made capital withdrawals of $90.5 million from Trump Castle and Trump Plaza Hotel & Casino, his most reliable money generator.
Several people familiar with Trump's finances, including state Division of Gaming Enforcement Director Anthony J. Parrillo, say they don't think the real estate developer has a hoard of cash stashed away.
Instead, it appears Trump has spent it. Much of the cash was lost on a failed bid to take over American Airlines, and much went to pay interest on more than $2 billion that 50-some banks have lent him.
And then there is the Trump lifestyle: a Boeing 727 to fly him on long trips, a Super Puma helicopter for shorter trips, his Fifth Avenue penthouse, his Connecticut estate, jewelry and dresses his wife, Ivana, bought from name designers. Interest payments on the jetliner and helicopter alone total more than $2 million a year. And then there's the pilots, fuel and landing fees.
And, of course, Mar-A-Lago, the old Florida mansion he bought for $2,000 cash and a $10 million mortgage loan. Interest payments run about $1 million a year and it costs about $1 million more to maintain the 118-room mansion.
True. There is always at least 2 sides.
That one side was 60 million behind in payments tends to make me not think them a truly great business model to follow though.
From the article.
“To the best of my knowledge, I never even met him. Just another publicity-seeker,” Mr. Trump said in an email to The Washington Times.
Newspaper reports from the time corroborate the version of events related by Mr. Rosenberg
(Seems that happens a lot to djt forgetting people that is.)
Of course that djt filed for bankruptcy less than 7 months later seems to support a poor business, but not to worry he came out fine only the people that have been “art of the dealed” lost money for the most part.
text speak!
Propaganda Alert!!!
Those numbers must be based on lies and propaganda.
I just looked it up. Interest payments on a 10 million dollar home would be a lot lower than you claim. In fact its around 60% lower than whats stated in those non factual numbers. It would be around $33k interest per month. 400k per year, vs 1 million.
” but not to worry he came out fine only the people that have been “art of the dealed” lost money for the most part.”
EXACTLY!!!!! And NOW we have TRUMP to Art Of The Deal the OTHER GUY (!!!) the guy we DON’T LIKE!!!!!
Exactly.
The article was from 1990, and interest rates were much higher back then.
Art of the deal, baby, art of the deal!
Celina Durgin is a freshman City Reporter for the Tribune.
"Rubio Can Be a Winning Voice for the GOP By Celina Durgin"
Why would anyone except a fool or a salivating hater believe ANYTHING in National Review? Have they not shown us THEIR salivating hatred? Case closed.
You do realize that Trump hires thousands of immigrants, many of them illegal? He also plans on letting the deported illegals come back on an expedited process. That is insane. Not only will they take American jobs, they will vote Democrat.
Cruz is the only candidate who will deport illegals and not allow them to come back. Cruz also has the right tax policy and economic strategy to create new jobs.
Cruz’s record is one of strength and defending our rights. When our right to bear arms as individuals was challenged, Cruz took it to the Supreme Court and won. He has won on several issues before the Supreme Court protecting our Religious liberties.
Cruz is determined to make our military stronger than ever. He has a much deeper grasp of foreign policy and the war on terror than Trump does. Slogans are not leadership.
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