Musicmystery
Posts: 30259
Joined: 3/14/2005 Status: offline
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quote:
ORIGINAL: Termyn8or quote:
How many companies has president bankrupt wrecked? None. If you would get informed you would know those companies were underwater. The real corporate scrapman was Romney. T^T Four. "Trump has filed four business bankruptcies, which Bankruptcy.com says makes Trump the top filer in recent decades. All of them were centered around casinos he used to own in Atlantic City." http://money.cnn.com/2015/08/31/news/companies/donald-trump-bankruptcy/ 1. Trump Taj Mahal, 1991 Trump's first bankruptcy filing was probably the most personally painful for him. To come up with the funds he needed, he sold a 282-foot yacht, as well as the Trump Shuttle, the airline he operated at the time that flew between Washington, D.C., New York and Boston, according to media reports at the time. He had to give up half of his ownership stake in the Trump Taj Mahal, but he did retain control of the property. 2. Trump Castle Associates, 1992 In less than a year he was back in bankruptcy court for his other Atlantic City casinos. This bankruptcy included the Trump Plaza Hotel in New York, the Trump Plaza Hotel and Casino in Atlantic City as well as the Trump Castle Casino Resort. He gave up half his interest in the New York Plaza to Citibank, but retained his stake in the casinos. 3. Trump Hotel & Casino Resorts, 2004 Trump didn't go back to bankruptcy court again until November 2004, when he filed to shed debt at his various Atlantic City casinos and a riverboat in Indiana. It was another quick trip through bankruptcy court; the company shed $500 million in debt and emerged from bankruptcy the following May. Trump turned over majority control of the company to his bondholders but remained the largest single shareholder, and he once again kept control of the casinos. 4. Trump Entertainment Resorts, 2009 His most recent bankruptcy came in 2009, after the company missed a $53.1 million bond payment. That was pretty much the end of the road for Trump in Atlantic City. While his name remained on three casinos, he resigned from the board and gave up his remaining stake in the company.
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