"...Timing is everything in business, and unfortunately for Trump he entered the airline game at the wrong time. The US entered an economic recession in the late '80's leading many corporations to cut back on business travel. In addition, tensions in the Middle East leading up to the first Gulf war caused oil prices to spike. This 1-2 punch was devastating for the airline industry and led to the demise of a number of airlines including Eastern and Pan Am. Given these circumstances, the Trump Shuttle lost money, and with Trump continuing to accumulate debt in his other ventures it was becoming increasingly difficult to pay back the loans taken to purchase the airline.
In an effort to drum up business, Trump guaranteed that all Shuttle flights would arrive within 15 minutes of their scheduled arrival time or passengers would be compensated. This was a foolish proposition for sure, as the northeast corridor airports were - and still are - very congested with delays being commonplace. The guarantee didn’t last long, and soon after the Trump Shuttle began to reduce its schedule in the face of mounting losses. In September of 1990 Trump defaulted on his loan and control of the airline went back to the banks led by Citibank...."
[snip]
KING: With troubled times like this for the average guy who may be foreclosing on his house, is this the time to think like a champion?
Trump: This is the best time to think like a champion. As an example, the house is being foreclosed. You go see your bank - maybe you can make a deal, maybe you can't. But you can make a deal with a bank on another house, and much better than the one you're living in. ... They'll do any deal to get rid of their product.
They have houses by the thousands. And you go see that bank and you make a deal.
King: How do you assess [Barack Obama]? Trump: Well, I really like him. I think that he's working very hard. He's trying to rebuild our reputation throughout the world. The previous administration was a total disaster, a total catastrophe.
And, you know, the world looks at us differently than they used to. ... He was handed a pretty bad deck of cards. And I'm not saying I agree with everything he's doing. ... I DO AGREE WITH WHAT THEY'RE DOING WITH THE BANKS.
Whether they FUND them or NATIONALIZE them, it doesn't matter, but you have to keep the banks going.
King: Do you assess [Obama] as a champion? Trump: Oh, yes, he's a champion. I mean, he won against all odds. When he first announced, people were giving him virtually no chance. And he's just done something that's amazing...."
[snip]
Now if you really need a good reason not to vote for Donald Trump, CW’s post should do the trick. ;-)