Speyside wrote:Now we know why he didn't want to release his tax returns. Perhaps the Art of the Deal is really the Art of the Con. What hasn't been a lie from Trump?
My dislike of Trump stems from his "Art of the Deal" making. He took over two major casino's in Atlantic City back in the 90's. I forget which one's but anyway.... One of the casino's was just finishing up a major remodeling. The last of the windows were being replaced (The entire front and back of the casino were large glass panels) anyway Trump takes over and hates the new windows and orders them all to be replaced with more expensive windows. The company that did the windows was a family owned business and separate from the contractor who did the remodel. So, new contracts are signed, new windows are ordered and installed. When the window company tried to get paid they got the run around. Finally after months of back and forth the owner of the window company gets a call from a Trump lawyer who basically said we'll pay you 30% of our original agreement or we can tie this up in court for years, your choice. The window company had to file bankruptcy, everyone lost their jobs and the owners of the window company lost everything too. If I remember correctly they had laid out close to 1 million for the cost of the new windows and materials. None of the other contractors got paid either. One year later he
(when I say he here I mean Trump and his company because I'm not sure how Trump, personally, was involved in the day to day) had lost 2 BILLION dollars running both casino's into the ground. You could have grabbed any crack whore that infest's Atlantic city 1 block off the boardwalk and given her control of both casino's and she'd have had those places printing cash. I tried to find the news story on Youtube but I can't seem to find it. I think it was a 60 minutes piece or similar show, who interviewed and detailed what this one contractor went through.
He also lost his shirt on his first casino the Taj Mahal. Someone, Trump or someone who worked for him came up with an evil genius idea. He managed to walk away with millions by taking the failed casino's parent company public. People heard stock and casino and thought it was a sure thing. Every year that he ran the company, and he was in complete control as Chairman and major shareholder of a preferred stock that gave him more votes than the stock sold to the public. People lost $0.90 on every dollar invested and he raised like $150,000,000 with that IPO. Can't blame the economy either, his main competition at the time doubled their profits. There are other bankruptcies, failed businesses, alleged frauds, (Who wants to go havesies on a dorm room at Trump University:-) and some of his public statements and behaviour that don't really inspire Presidential sentiments in me.
I sometimes think he has some sort of competition with his father going on in his head. I don't know much about his father except that it was his father who was the real deal businessman. Trumps first successful "solo" real estate deal just happened to be with NYC, and Trumps dad and the mayor were pals. I wonder sometimes if he feels like he's still standing in his dad's shadow and that's what really drives him.