Posted on 02/19/2016 9:18:46 PM PST by TBP
What is it you think happens when a company files for chapter 11 bankruptcy???
The whole process starts because the company failed to pay its bills.
The investors, lenders, bond holders, contractors are all on the hook and have to make deals to try to minimize their losses.
This may come as a shock to you but Trump’s business records aren’t public so how do I know, or anyone else for that matter, who took the short end of the deal.
The fact of the matter is, chapter 11 is a result of failing to meet your obligations. The “reorganization” process is to try make deals with those who are owed money to minimize the losses instead of outright liquidation.
Lions and Tigers and Bears Oh My!
Yeah, the difference is, when you drive four businesses into the ground, you can't claim to be a "successful businessman" just because you've never been in Chapter 13.
And Donald Trump has apparently never run a business either. At least, not a successful one.
This attack on Trump and his bankruptcies is naive at best and vicious if the attackers are not naive.
The bankruptcy laws of this country are old, and applicable to all equally. They are meant to encourage risk taking in busibess for one while protecting the risk takers’personal assets and family.
Please stop such posts. They are smarmy.
Donaldtrump.com
How does he think he gets away saying he never went bankrupt?
NB:
Trump has never filed personal bankruptcy. There is a difference between personal bankruptcy and corporate bankruptcy. But I guess you don't care.
If he isn’t personally bankrupt then he’s not gone through personal bankruptcy. He’s used chapter 11 provisions for pieces of his corporation.
Borrowing too much money is a relative statement. Had Atlantic City remained the only legalized gambling/casino town on the east coast, the casinos would have been goldmines. But Pennsylvania and other states legalized gambling, Indians got casinos of their own, the economy remains in a hole, and so Atlantic City died a slow death. Casino revenues are down 50% over the past 9 years. That’s a lot of cheese, and that’s not Trump’s fault.
http://www.businessinsider.com/atlantic-city-is-a-ghost-town-2016-1
I heard that!
Robert Mercer, Jeff Roe et al., apostatizing seven mountains dominionism.
Good posting of details in re Trump’s bankruptcies I haven’t seen previously. I understand Chapter 11 being used to restructure and save a business, but Trump didn’t actually do that, IMO.
Tag line.
‘If we could just get a Canadian in the White House...’
*******************************
Please knock off the birther BS.
Yeah, Ted was born in Canada but he has never been a Canada citizen. Both parents were legal US residents under the jurisdiction of the US and his mother was born in the US.
How does anything in your posting relate to Cruz or your claim of “Cruz-trolls”? ....Too much catnip???
NONE of the anti-Trumpers/rabid Cruzers know or understand financial things, even the difference between a business going into CHAPTER 11 and personal, bankruptcy.
*************************************
You presume too much and state it as fact, like your candidate Trump. ....Many of us FReepers have post grad degrees and a knowledge of economics, accounting and business law.
Ahhh, and there we go. The Trumpanzee spin.
The whirlwind of denial that Trump lost more money than what he has accrued
Just like the Obama Democrats. Live in the fog of desperation that their Dear Leader will lead them to salvation.
*** And in much the same way that he has contemplated putting his abortion-loving sister on the Supreme Court, ***
Do the AntiTrumpers ever tire of such crap?
I wouldn’t care if Trump’s Sister was a pole dancer, rather than a Federal Judge. Does this statement in the article have any relevance?
No.
Businesses have to price their products/services correctly to be competitive. His Atlantic City investment was too pricey and took the hit. It was so expensive for customers because his people made bad business decisions and he agreed to the high interest loans which required a lot of revenue to pay. Competitors provided similar services at lower cost and Trump’s big play in AC failed.
Many business ventures have undergone the same. It’s not the fault of one person at the top of the pyramid, as many others gave input to the decisions made. ...However, the head man rightly always gets the blame because he ultimately approves the loans and contracts.
I’m not a yuuuge Trump fan, but wanted to try to offset a bit all who are blasting him regarding bankruptcies.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.