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Do you think that you are a 'Fiscal Conservative? - 3 Trillion US Budget Debt and 27 Trillion US National Debt

 

Business Description Summary - Comments

Donald Trump has shown his capabilities in starting ventures, and doing well, in some cases, however, what we find is that most of the ventures were failures.

There were many cases where people were intentually hurt financially in the wake of some of the failutes. Contractors who were paid, pennies on the dollar, for hard work, resulted in many of those same companies forced to close, or go bankrupt at the hands of Donald Trump. Many of these contractors worked on Trumps buildings in Atlantic City.

Trump University

First thing first, Trump University was never a university. When the “school” was established in 2005, the New York State Education Department warned that it was in violation of state law for operating without a NYSED license. Trump ignored the warnings. (The institution is now called, ahem, “Trump Entrepreneur Initiative.”) Cue lawsuits. Trump University is currently the defendant in three lawsuits — two class-action lawsuits filed in California, and one filed in New York by then-attorney general Eric Schneiderman, who told CNN’s New Day in 2013: “We started looking at Trump University and discovered that it was a classic bait-and-switch scheme. It was a scam, starting with the fact that it was not a university.”

Trump University Fact 1

Trump University Fact 2

Trump University Fact 3

Trump University Fact 3

 

 

Trump Airlines

In October 1988, Donald Trump threw his wallet into the airline business by purchasing Eastern Air Shuttle, a service that for 27 years had run hourly flights between Boston, New York City and Washington, D.C. For roughly $365 million, Trump got a fleet of 17 Boeing 727s, landing facilities in each of the three cities and the right to paint his name on an airplane. But his gamble was a bust. A lack of increased interest from customers (who favored the airline for its convenience not its fancy new look) combined with high pre–Gulf War fuel prices meant the shuttle never turned a profit. The high debt forced Trump to default on his loans, and ownership of the company was turned over to creditors. The Trump Shuttle ceased to exist in 1992.

Trump Airline Fact 1

Trump Vodka

Trump vodka was introduced in 2006 to much fanfare. Under the slogan "Success Distilled," the liquor was touted as the "epitome of vodka" that would "demand the same respect and inspire the same awe as the international legacy and brand of Donald Trump himself." At the time, Trump predicted the T&T (Trump and Tonic) would become the most requested drink in America, surpassed only by the Trump Martini. The New York City blog Gothamist reports the vodka has stopped production "because the company failed to meet the threshold requirements."

Trump Vodka Facts 1

 

 

The Bankruptcies

 

Trump Entertainment Resorts Inc. — 4 bankruptcies (1991, 2004, 2009, 2014)

 

Trump Entertainment Facts 1

Trump Mortgage

In April 2006, Trump announced that, after years in the real estate business, he was launching a mortgage company. Donald Jr. predicted that Trump Mortgage would soon be the nation's No. 1 home-loan lender. Trump told CNBC, "Who knows more about financing than me?" Apparently, plenty. Within a year and a half, Trump Mortgage had closed shop. The would-be lending powerhouse was done in by timing (the housing market cratered in 2007) and ironically enough, given Trump's Apprentice TV show, poor hiring. The executive Trump selected to run his loan company, E.J. Ridings, claimed to have been a top executive at a prestigious investment bank. In reality, Ridings' highest role on Wall Street was as a registered broker, a position he held for a mere six days.

The company's closure was announced on August 5, 2007, as the result of a poor economy and Ridings' exaggeration of his credentials. Experts also believed that the company expanded too quickly. By the time of the closure announcement, Trump had agreed to license his name to First Meridian Mortgage, which was temporarily renamed as Trump Finance in some areas before reverting to its original name after a few years.

A former employee of Trump Mortgage, brokered a $26,500,000 financing, which earned more than $500,000 in commissions for Trump Mortgage. Trump Mortgage collected their commission, but stiffed McGovern, who filed a lawsuit. In 2009, McGovern obtained a judgment of US$298,274 against Trump Mortgage. As of March 2016, the judgment remains unsatisfied.

Trump Mortgage Company Fact 1

Trump: The Game Trump: The Game is a board game named after American businessman and president Donald Trump. Milton Bradley Company initially released the game in 1989, although it sold poorly, with only 800,000 copies sold out of an expected two million.

Trump Games Fact 1

 

The China Connection  

China Connections Facts 1

 

Trump Casinos  

Trump Casinos Facts 1

 

 

Trump Steaks Trump Steaks is a discontinued brand of steak and other meats that was owned by Donald Trump. The brand was launched in 2007 and was exclusively sold through The Sharper Image and QVC. Trump Steaks failed to sell well through The Sharper Image, which discontinued sales of the product line after two months.

Trump Steaks Facts 1

 

 

Trump Ice Trump Ice Natural Spring Water, often referred to as just Trump Ice, was a bottled water brand owned by American businessman Donald Trump. It was discontinued in 2010.

Trump Ice Business Facts 1

 

GoTrump.com  

GoTrump.com Facts 1

 

 

Trump Magazine (2007 – 2009)  

Trump Magazine Facts 1

 

 

The New Jersey Generals (1983 – 1985)  

Trump Sports - New Jersey Generals Facts 1

Trump Tower Tampa (2006 – 2007)  

Trump Tower Tampa Facts 1

 

     
Final Conclusion:

 

 

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