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.
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.
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?