Tuesday, June 30, 2020

Failed Businesses

Trump Shuttle (airline)
Trump Taj Mahal
Trump Castle Hotel & Casino
Trump Plaza Casino, Atlantic City
Trump Plaza Hotel, New York City
Trump Hotels & Casino Resorts (three in Atlantic City
Trump Entertainment Resorts
New Jersey Generals pro football team
Trump Steak
Trump Vodka
Trump Magazine
Trump Mortgage
GoTrump.com (travel agency)
Trump: The Game
Trump University
Trump Ice
Tour de Trump (bicycle race)
Trump on the Ocean (catering hall on Long Island)
Trump Network (nutritional supplements)
Trumped! (syndicated radio program)
Trump Institute (traveling lecture series)

   Personal bankruptcy -- never. But creditors lose in a bankruptcy filing, and there have been at least 20 bankruptcy filings for his business ventures and others using his name under license. There are also innumerable examples of his companies' refusal to pay bills as stipulated in contracts until creditor accepts substantially lower payment.
   Successful business man?  As an individual, yes, by using bankruptcy laws to avoid paying creditors even while he accepts salaries. But in measuring success by the number of bankruptcies, he is a failure.
   And now the entire nation faces bankruptcy. The federal government technically cannot go bankrupt, since it can simply print more money to pay its bills. But that assumes the government can persuade the autonomous and independent Federal Reserve Board to print more money.
   However, millions of individuals and businesses can and will go bankrupt as people lose their jobs and companies and stores close.

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