We’re watching Trump’s 7th bankruptcy unfold

[dawp]

Trump is a celebrity playing businessman just as he’s a celebrity playing President. He doesn’t care if he wrecks his businesses as long as it gets his name on TV.

and money in his pocket while screwing everyone else.

 

[zinfamous]

Because if you know anything about business, you would know people with as many businesses as Trump has does not manage the day to day or operations of those businesses. Still, if you want to think that someone who has over 500 businesses and 7 went bankrupt (6 CH11) is a total business failure, thats up top you. Were all entitled to our own opinions.

oh, so the only ones that went bankrupt are the only ones that failed or "disappeared?"

lol, why don't you even care to pay attention?

please name one of his (currently existing) "businesses" that is actually profitable, and not just leveraged for generations.

 

[zinfamous]

So youre asserting he has/had enough time to micromanage 500 companies?

lol. where do you get this nonsense that Trump owns "500 businesses" anyway?

is this the new talking point that was pushed out onto the sheep this week, conveniently unverified by anyone?

jesus fucking christ you bastards are so fucking lazy.

 

[IronWing]

lol. where do you get this nonsense that Trump owns "500 businesses" anyway?

is this the new talking point that was pushed out onto the sheep this week, conveniently unverified by anyone?

jesus fucking christ you bastards are so fucking lazy.

No, he has/had 500 paper entities. My guess is that he used them to dodge liabilities and screw over people to whom he owes money. Trump set up LLCs like other people buy lottery tickets. In many states, setting up a new LLC is simple as filling out a one or two page form.

 

[Bitek]

No, he has/had 500 paper entities. My guess is that he used them to dodge liabilities and screw over people to whom he owes money. Trump set up LLCs like other people buy lottery tickets. In many states, setting up a new LLC is simple as filling out a one or two page form.

I'm sure it's a tax dodging and responsibility dodging scheme.

It's the same when they claim they have "tens of thousands of employees" and "pay millions in payroll taxes."

No he doesn't. Many of his deals are simply brand licensing deals. It's not his company, he's just the paint on the sign.

Those are not his employees. Actual Trump org employees are a small number. Is a small family business with a complex structure set up for tax and liability evasion.

Yet bobos like @blackangst1 buy right into the bullshit.

 

[Muse]

Of course it wasn't him personally, did you expect any different? If a person inheriting that much wealth from his family actually goes personally bankrupt they are more stupid than we imagined.

Having said that, this is the supposedly brilliant business man that people want running the country? A guy whose companies have gone bankrupt 6 times?

And who with a right mind would think he wouldn't run this country into the ground? He's been doing exactly that the whole time, folks. And never admitting to it one goddamn bit.

 

[dawp]

And who with a right mind would think he wouldn't run this country into the ground? He's been doing exactly that the whole time, folks. And never admitting to it one goddamn bit.

the really sad part is most of his camp followers really think he's a good businessman and he's nothing like that at all and would find out with a little research.

the last time a 'businessman' won the office he proceeded to give taxes away and trash the economy.

there is a reason the country does better with a democrat in charge.

 

[ksosx86]

Well, *sigh* these are the same people that think a virgin got pregnant & her husband was malleable enough to go along with it. - Trump's followers. The irony is he couldn't give a wooden nickel about Christianity it's just a means to an end. I would have figured after the first porn star people would have gotten a clue, let alone Jeffrey Epstein but whatever'

 

[zinfamous]

No, he has/had 500 paper entities. My guess is that he used them to dodge liabilities and screw over people to whom he owes money. Trump set up LLCs like other people buy lottery tickets. In many states, setting up a new LLC is simple as filling out a one or two page form.

yup, empty LLCs to act as "lawsuit shields" and nothing more.

Deplorables believe they are "businesses."

...this is because Trump supporters are fundamentally stupid people.

 

[MrSquished]

I had never set up an LLC before and used a website called legal zoom to do it in 30 minutes or less when I opened up a food truck years ago.

 

[sactoking]

The thing with LLCs is that they're used to hide stuff, people know they're used to hide stuff, and states compete to make the most stuff-hidey environment possible. I believe Wyoming is the current leader in the "We want the LLC annual registration fees so badly that we'll allow you to set up an LLC that can't be legally pierced for any reason so you can hide all of your nefarious shit in it" race. Nevada used to be a contender, and is still among the top, and whenever the Legislature here tries to enact any reforms the Registered Agents lobbyists all IMMEDIATELY threaten to take the hundreds of thousands of sketchy LLCs registered here to Wyoming.

 

[hal2kilo]

The thing with LLCs is that they're used to hide stuff, people know they're used to hide stuff, and states compete to make the most stuff-hidey environment possible. I believe Wyoming is the current leader in the "We want the LLC annual registration fees so badly that we'll allow you to set up an LLC that can't be legally pierced for any reason so you can hide all of your nefarious shit in it" race. Nevada used to be a contender, and is still among the top, and whenever the Legislature here tries to enact any reforms the Registered Agents lobbyists all IMMEDIATELY threaten to take the hundreds of thousands of sketchy LLCs registered here to Wyoming.

I guess Delaware just goes for the Corporation registry money then. Is there any other reason for that state? I do remember having to roll up the windows going up 95 on the way to visit parents friends in Princeton, NJ while crossing the Delaware river so I guess they've got that going for them.

 

[alexruiz]

Lets put it into perspective. How many companies do either man own?

Doesn't matter, they have much more money.
Be it one company, or 1000.

Edit: Forgot to add. If he is that savvy of a businessman, then he should realize than less lucrative business are only a distraction, so either he spins them off or consolidates them. Having those many just proves again how incompetent he is.

 

[soundforbjt]

Here's how Trump's helicopter "business" worked out in Scotland...

LOL

Donald Trump’s luxury helicopter charter plans fail to take off

It was billed by Donald Trump as an “incredible” way to tour his golf resorts in the UK and Ireland, with well-heeled guests being whizzed back and forth across the Irish Sea and all around Scotland while revelling in the kind of opulence to which the US president has long been accustomed.

www.scotsman.com

 

[alexruiz]

So youre asserting he has/had enough time to micromanage 500 companies?

He micromanages the ones that have the most exposure. Atlantic city had visibility, so yes, he micromanaged it, the bankrupcty is on him.
Trump tower, doral, mar-a-lago, those are others he micromanages, see how much money they are making.
trump steaks, trump ties, trump vodka... those ones were managed by the interns.

As president, he wants to MAKE decisions on things he doesn't have a clue (coronavirus control anyone?)
So yes, he micromanages a lot of stuff, and the way to recognize it is easy: It is a dumpster fire? If yes, then the cheeto is the one calling the shots

 

[ksosx86]

*cough cough* Trump University *cough*

 

[Muse]

The thing with LLCs is that they're used to hide stuff, people know they're used to hide stuff, and states compete to make the most stuff-hidey environment possible. I believe Wyoming is the current leader in the "We want the LLC annual registration fees so badly that we'll allow you to set up an LLC that can't be legally pierced for any reason so you can hide all of your nefarious shit in it" race. Nevada used to be a contender, and is still among the top, and whenever the Legislature here tries to enact any reforms the Registered Agents lobbyists all IMMEDIATELY threaten to take the hundreds of thousands of sketchy LLCs registered here to Wyoming.

Is this country just a fuckin' house of cards? Man, it seems like it given this. What ever happened to responsibility, honesty, integrity? Something told me not to apply to law school and I didn't, even though my LSAT score looked to have been enough to get me in. I had visions of a pit of snakes.

 

[nakedfrog]

Is this country just a fuckin' house of cards? Man, it seems like it given this. What ever happened to responsibility, honesty, integrity? Something told me not to apply to law school and I didn't, even though my LSAT score looked to have been enough to get me in. I had visions of a pit of snakes.

They stood in the way of profitability, ergo, they had to be dismissed.

 

[zinfamous]

I guess Delaware just goes for the Corporation registry money then. Is there any other reason for that state? I do remember having to roll up the windows going up 95 on the way to visit parents friends in Princeton, NJ while crossing the Delaware river so I guess they've got that going for them.

Delaware is basically just for PO Boxes, Joe Biden, and Aubrey Plaza ( ).

 

[Bitek]

Delaware is basically just for PO Boxes, Joe Biden, and Aubrey Plaza ( ).

Mmmmmm .....Aubrey Plaza...drooooolllll