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RE: Article about Trump's Business History - 8/8/2016 5:36:26 AM

WhoreMods

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RE: Article about Trump's Business History - 8/8/2016 6:16:32 PM

DominantWrestler

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phone having issues. Sorry

< Message edited by DominantWrestler -- 8/8/2016 6:24:49 PM >

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RE: Article about Trump's Business History - 8/8/2016 9:53:12 PM

Termyn8or

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quote:

ORIGINAL: tweakabelle

quote:

ORIGINAL: Greta75

quote:

ORIGINAL: tweakabelle

If Trump can't run a casino successfully what can he run?A well run casino is loss proofed.

That's absolutely not true. Number 1, gambling is a vice. Many people will avoid gambling like plague. As more casinos are appearing around the world competing with each other, the crowd for a casino industry is getting thinner and thinner.

Casino Business is very reliant on international tourist gamblers. Local people if they aren't gambling addicts, will not frequent their local casinos so they are seldom reliant on their local market. But world wide gamblers, has world wide choices.

It's not a sure win business for sure.

Sorry Greta, but it would appear that we are forced to add the casino business to the already lengthy list of things that you seem to know little or nothing about.

Casinos are guaranteed to win irrespective of how individual gamblers fare. Their margin is purely a function of this formula: profit = turnover - costs. As long as enough money is wagered, the casino cannot lose. To do so would be contrary to the Laws of Probability, which is nigh impossible.

If a casino is losing money it can only be for one (or a mix) of these reasons: (i) it's being scammed or defrauded; (ii) there is too much competition in a limited marketplace; or (iii) it's being managed in an incompetent manner or by incompetent people. Casinos are recession proofed ie they tend to do better when the rest of the economy is depressed.

So if a long established casino is losing money the most likely explanation is incompetent management.

Adding this bankruptcy (the Trump Taj in Atlantic City) to the already long line of bankruptcies on Trump's CV and the unavoidable conclusion is that Trump is a lousy businessman.

Sorry Greta there are no other credible or plausible explanations available. Trump is a chump at business. His biggest boast - that he is a phenomenally successful businessman - turns out to be as hollow false and fraudulent as all the others.

No one is even sure if he is the billionaire he boasts he is. Given that Trump is a pathological liar, unless this claim is independently and credibly confirmed, it ought to be treated with the same disdain as any of Trump's other boasts ie assumed to be false until proved otherwise.

Too many assumptions here. First of all, ALL casinos in Vegas are having trouble. I know from insiders. None of them are making any real money and that is because partly they depend on worldwide visitors and the worldwide economy ain't that great. Local gamblers, if they can STAY gamblers, know what they're doing and win alot more than your average person who bets hunches and feels lucky. I know how to gamble and you know what ? Unless I could buy into a high stakes poker game (NOT holdem) I would never go to Vegas. I would find a smoke filled basement of a hole in the wall bar.

That is a poker game, joints, blunts, cigars, whiskey and beer. Everyone has a gun. One of the barmaids comes down every about ten minutes to see what anyone needs, sandwiches, beers, whatever. The house gets no cut but we spend like a grand on drinks and food by the end of the night, of course as people come and go.

Other than straight poker, every game is rigged in favor of the house, and that is tightly controlled for two reasons. For one is the gaming commission. The other is that SOME people have to win or nobody will come. The laws are very strict. If lotteries had to go by the same rules there would be no lotteries.

So you need alot of traffic. People here cannot pay their bills, so most of that domestic traffic is not coming. That is why casinos are hurting, not because of mismanagement.

But now we have another question, why doesn't he mortgage those casinos and golf courses and ope up a manufacturing enterprise ?

Well I'll tell you why. It is because most people here do not want to work. They want to get paid but not work. Poor skill level, no work ethic. What's more the infrastructure in alot of places can't handle too big of a plant. So it was almost logical for him to go into golf courses n shit like that and attract the affluent. Problem is we ran out of them.

You can't mismanage a casino, all you can do is not get enough business to meet the overhead. And like I said, the government can't run a whorehouse, they tried. What did they do, get all ugly broads ? Or maybe the same deal, not enough traffic.

T^T

< Message edited by Termyn8or -- 8/8/2016 10:00:02 PM >

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RE: Article about Trump's Business History - 8/8/2016 10:54:29 PM

MrRodgers

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quote:

ORIGINAL: Termyn8or

quote:

ORIGINAL: tweakabelle

quote:

ORIGINAL: Greta75

quote:

ORIGINAL: tweakabelle

If Trump can't run a casino successfully what can he run?A well run casino is loss proofed.

That's absolutely not true. Number 1, gambling is a vice. Many people will avoid gambling like plague. As more casinos are appearing around the world competing with each other, the crowd for a casino industry is getting thinner and thinner.

Casino Business is very reliant on international tourist gamblers. Local people if they aren't gambling addicts, will not frequent their local casinos so they are seldom reliant on their local market. But world wide gamblers, has world wide choices.

It's not a sure win business for sure.

Sorry Greta, but it would appear that we are forced to add the casino business to the already lengthy list of things that you seem to know little or nothing about.

Casinos are guaranteed to win irrespective of how individual gamblers fare. Their margin is purely a function of this formula: profit = turnover - costs. As long as enough money is wagered, the casino cannot lose. To do so would be contrary to the Laws of Probability, which is nigh impossible.

If a casino is losing money it can only be for one (or a mix) of these reasons: (i) it's being scammed or defrauded; (ii) there is too much competition in a limited marketplace; or (iii) it's being managed in an incompetent manner or by incompetent people. Casinos are recession proofed ie they tend to do better when the rest of the economy is depressed.

So if a long established casino is losing money the most likely explanation is incompetent management.

Adding this bankruptcy (the Trump Taj in Atlantic City) to the already long line of bankruptcies on Trump's CV and the unavoidable conclusion is that Trump is a lousy businessman.

Sorry Greta there are no other credible or plausible explanations available. Trump is a chump at business. His biggest boast - that he is a phenomenally successful businessman - turns out to be as hollow false and fraudulent as all the others.

No one is even sure if he is the billionaire he boasts he is. Given that Trump is a pathological liar, unless this claim is independently and credibly confirmed, it ought to be treated with the same disdain as any of Trump's other boasts ie assumed to be false until proved otherwise.

Too many assumptions here. First of all, ALL casinos in Vegas are having trouble. I know from insiders. None of them are making any real money and that is because partly they depend on worldwide visitors and the worldwide economy ain't that great. Local gamblers, if they can STAY gamblers, know what they're doing and win alot more than your average person who bets hunches and feels lucky. I know how to gamble and you know what ? Unless I could buy into a high stakes poker game (NOT holdem) I would never go to Vegas. I would find a smoke filled basement of a hole in the wall bar.

That is a poker game, joints, blunts, cigars, whiskey and beer. Everyone has a gun. One of the barmaids comes down every about ten minutes to see what anyone needs, sandwiches, beers, whatever. The house gets no cut but we spend like a grand on drinks and food by the end of the night, of course as people come and go.

Other than straight poker, every game is rigged in favor of the house, and that is tightly controlled for two reasons. For one is the gaming commission. The other is that SOME people have to win or nobody will come. The laws are very strict. If lotteries had to go by the same rules there would be no lotteries.

So you need alot of traffic. People here cannot pay their bills, so most of that domestic traffic is not coming. That is why casinos are hurting, not because of mismanagement.

But now we have another question, why doesn't he mortgage those casinos and golf courses and ope up a manufacturing enterprise ?

Well I'll tell you why. It is because most people here do not want to work. They want to get paid but not work. Poor skill level, no work ethic. What's more the infrastructure in alot of places can't handle too big of a plant. So it was almost logical for him to go into golf courses n shit like that and attract the affluent. Problem is we ran out of them.

You can't mismanage a casino, all you can do is not get enough business to meet the overhead. And like I said, the government can't run a whorehouse, they tried. What did they do, get all ugly broads ? Or maybe the same deal, not enough traffic.

T^T

Well a few provisos. There are a couple of casinos that are making money in Vegas, Wynns and Sands. Wynns is kicking ass while Sands Corp. is holding on. Not surprisingly, it's the high rollers that bring in revenue and it's in the hotel/resort/restaurant/retail areas where there are profits.

BTW you can 'buy' into a high stakes poker game if you have an invite and it is almost always hold-em. Stud and draw are on the downside and are almost always much lower stakes but a beginner can get in for cheap.

And yes, one can easily mismanage a casino because it's management that determines the overhead. Lenders and investors have complained that management is paying themselves far too much in salaries and bonuses.

< Message edited by MrRodgers -- 8/8/2016 10:59:15 PM >

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(in reply to Termyn8or)

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RE: Article about Trump's Business History - 8/9/2016 1:46:30 AM

Termyn8or

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"Well a few provisos. There are a couple of casinos that are making money in Vegas, Wynns and Sands. Wynns is kicking ass while Sands Corp. is holding on. "

Well that's two, out of how many ?

"Stud and draw are on the downside and are almost always much lower stakes but a beginner can get in for cheap. "

What's cheap ? Couple hundred would be fine with me. Even then the house gets a cut of the pot. But then in a smoke filled basement you have to buy your food and from what I heard, most casinos will give you food gratis.

"And yes, one can easily mismanage a casino because it's management that determines the overhead. Lenders and investors have complained that management is paying themselves far too much in salaries and bonuses. "

Like they have some right to say anything after the bailouts. Though I agree, banks and investment houses have abused it way worse. Much as I don't have much nice to say about Lee Iaccoca, because he became a hero by borrowing money, he was at one time, a engineer. Maybe not the whole enchilada but the Ford Mustang was his concept and it was successful. So at least he did something. These fucking banksters do nothing, and probably make even more than he ever did. The casino owners do what everyone else does in business these days - GET MINE NOW, before the place burns down. And of course you have to have the annual pre-fire going out of business sale.

Capitalism needs a certain kind of regulation,, and I believe we used to have it. A tax rate that made people think "How do I get rid of all this money ?". Some could buy a boat, others will reinvest and grow the business or start another one. They would do whatever they could to get rig of that money, and you know what ? The country did well and they did well. Now, whether they realise it or not because they went to a fancy school, they are going to lose most of it. When you got ten grand in the bank and money drops to half its value you lost five grand. If you got a million you lost a hell of alot more. But Keynes taught them that this bullshit is sustainable. Let me rephrase that, Keynes taught them this bullshit that this is sustainable.

In 1971, the top income tax was like 90 %. Now, if you made that much money that you got into that bracket, you did not pay that on all your income, only the portion above the threshold which back then I think was $100,000. People scrambled to spend their money because of that and that stimulated the economy. But now the rich have taken over the government and can just amass more money. Therefore they are not starting new businesses or anything of the sort. Philanthropism is a bit down as well.

This is progress. I shit you not, this is what they want. They want to raise the minimum wage but through devaluation of the dollar it will be worth what it was before. Eventually they might lop off a couple of zeros from the currency like Poland had to during Soviet times. There will be many more millionaires but think of China, what is the yuan worth ? They got plenty more millionaires but they might be broke. how much is a loaf of bread ? Maybe 1,000 yuan ? It is all relative.

What the rich are doing is playing a game, and many are playing the currency speculation game. You see, you only make money when something changes. Like the old oversimplistic axiom about the stock market "Buy low, sell high". That means something had to change. If you want to really make money for real, you must add value to a product. Just making money on paper is not going to last much longer, I can guarantee it. People are going to have to build factories where they take a piece of fucking metal and shape it to the engineer's design and sell it to the company for which he works and it will go into a product that is not only sold domestically but also overseas. If we do not do that we are fucked.

Enough rantage.

T^T

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