Trump failed at every business venture in his life. He was bailed out by his father, the Saudi Royal family, and allegedly by Russian oligarchs. You can read about those facts in multiple articles in my archives.

Here is a list of businesses he was forced take to bankruptcy court or where he lost lawsuits; forced to settle out of court. These are situations from which no one could save him from huge financial loss.

Trump Airlines. In 1988 Trump received a $245 million loan to purchase the aircraft and routes of commuter airline, “Eastern Air Shuttle.” Two years later he was unable to make enough money to cover the one-million dollar monthly interest payments. Trump was forced to return all assets to his creditors.

Trump Casinos. I worked in 12 casinos in the Reno/Sparks area for 20 years. Some of the management was less than adequate, which accounts for the number of jobs over a relatively short period of time. None of them lost money, although Northern Nevada does not have the same type of market as Las Vegas or Atlantic City.

Trump purchased the “Taj Mahal” in Atlantic City in 1991. In just one year the resort was $3 billion in debt. In 2004, the Taj Mahal, the Trump Marina and Trump Plaza casinos, which along with a riverboat casino in Indiana had a debt burden of some $1.8 billion. He was back in bankruptcy court. After ‘reorganizing,’ his company missed a $53 million interest payment, and declared bankruptcy once again.

Trump Magazine. In 2007, Trump had another “brainstorm.” He remade a former magazine and aimed the content at clients who were interested in purchasing yachts and other expensive “toys.” Of course, history shows that his timing couldn’t have been worse. By 2009 it was out of print.

Trump Mortgage. Every investor who knew anything about economies and investments was aware in 2006 that the housing market had peaked and a downturn was inevitable. Regardless, Trump told CNN: “I think it’s a great time to start a mortgage company,” in April. The man he hired as his CEO was touted as one of the greatest and most experienced experts in the field of housing sales and financing Wall Street could offer. Later the truth was exposed. E.J. Ridings had just six-months of experience. In 2007, Trump closed the doors on his company. According to the Washington Post, the company never paid a $298,274 judgement it owed a former employee, nor the $3,555 it owed in unpaid taxes. These are the same “finest people” Trump has on his cabinet.

Trump Tower, Tampa. Trump was paid two million dollars for the use of his name to build a 52-story tower in Tampa. Using the Trump name, the company began taking down payments on the 300 million dollar structure. The project went “belly-up” in 2008. Trump was sued for misrepresenting the property, and although investors lost hundreds of thousands of dollars, Trump paid as little as $11,000 in reparations for some of the units.

 

Trump University. Promising to reveal the “secrets” which made him “successful,” Trump charged as much as $35,000 tuition for Trump University. Although he promised to offer the “students” experts in the real estate industry, they were often motivational speakers; some of whom had no degrees, and others with criminal records. Its doors were closed in 2010, and in 2018 Trump agreed to settle a lawsuit brought by former “students” for $25 million.

These are some of the “lowlights.” Others include Trump beverages, Trump “The Game,” Trump Steaks, Trump Travel Site, Trump’s telephone company, Trump Vodka, and future revenues after calling Hispanics racists and criminals as early as 2015 when he announced his candidacy.

Is this a “successful businessman? How stupid Trump supporters must feel if they ever decide to believe the truth? Trump is a con man and nothing more.

Op-ed by James Turnage

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