posted on March 29, 2004 08:49:28 PM new
It's not bad enough that the Donald has the most ridiculous comb over in the history of television, he has just wrote a book "How to Get Rich."
The definition of chutzpah?
To run a business so deeply in debt that your interest expenses alone nearly doubled your operating income in 2003, helping to produce an $87 million loss on the year....
.... and then deciding to write a book titled, "How to Get Rich."
Actually that's chutzpah on steroids; indeed, not many people are capable of it. But if you need a hint about who the fellow is, here's the only other one you get:
He's the founder/chairman/CEO of this business, and it bears his name -- yet when asked his own financial liability for the company's debt, he remarked: "This has nothing to do with me.... This has to do with a company in which I'm a major shareholder."
These are Donald Trump's thoughts on the nearly $2 billion in bond debt that the Trump Hotels and Casino Resorts is "struggling to repay," as reported politely by The New York Times. "Trump Hotels had barely enough cash to support day-to-day maintenance and refurbishment," according to an analyst named in the article.
You may remember a couple of months back when I mentioned the approaching publication of Mr. Trump's latest book; I also mentioned the old proverb about debt and bankers:
If you owe the bank $10,000 and you can't pay, YOU have a problem. If you owe the bank ten million and you can't pay, the BANK has a problem.
I said a few zeroes was all you needed for this proverb to describe Mr. Trump's near bankruptcy in the early 1990s. And in so many words, the NYTs article was saying that The Donald is again living out this proverb: Trump Hotels is now "restructuring" its current debt, struggling against calls from bondholders for a "prepackaged bankruptcy proceeding."
We could dwell on the irony of a casino issuing bond debt gone bad; yet with all of the above in mind, I think the greater irony is that "How to Get Rich" previewed at no. 10 on Amazon.com's best seller list. In times of extreme bullish psychology, people will believe anything.
posted on March 29, 2004 09:02:51 PM new
I want to know how a casino can be broke.
With the odds being in their favor at all times how can they lose?
I always assumed if you had enough people coming in, the profits were easy? THe only thing I can think of is that they simply don't get those crowds. Why not?
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We do not stop playing because we grow old. We grow old because we stop playing -- Anonymous
posted on March 29, 2004 11:00:38 PM new
Replay- because the disposable income of most Americans has greatly decreased in the past few years. Because fewer Americans are traveling and fewer Europeans are traveling to the Untied States. The Casino could very well be making money but if the other hotels in the group are floundering then it becomes a question of just how far ar e the trying to spread a single assets earnings.
Maybe The Apprentice winner will be able to help turn things around
~~~ ~~~ ~~~ ~~~ ~~~
If it's really "common" sense, why do so few people actually have it?
posted on March 30, 2004 08:06:12 AM new
dont forget the japanese and southeast asian high rollers are not coming these days.
but his name is worth something,people do want to go to a donald trump place so they can say they have been there.
-sig file -------we eat to live,not live to eat.
Benjamin Franklin
posted on March 30, 2004 12:02:12 PM new
I know this is shallow, but I can't get past the comb-over to take him seriously. His hair meets his eyebrows and have meshed into one. His mouth is so pointed and tiny, he reminds me of a budgie. I admire that he's a risk-taker, but that's about all.
posted on March 30, 2004 12:53:20 PM new
Cheryl - you don't like the Apprentice? It is the only reality show I actually watch. I spent weeks rooting for Omarosa to get fired before it finally happened. I don't reemmber if it was the first or second week but when one of the girls told her an accusation she has jus made was the pot calling the kettle black she went off interpreting it as a racist comment. At that point - every week I was in "fire the b*tch" mode for the show.
~~~ ~~~ ~~~ ~~~ ~~~
If it's really "common" sense, why do so few people actually have it?
posted on March 30, 2004 01:01:46 PM new
But when Donald Trump speaks most listen. I think maybe the Casinos in Atlantic City and around the US are owned by a corporation with him as the leading investor, but run by the CEO we saw on the last program. He was sure young.
I like his reality show. It's fun to watch how players try to manipulate to get ahead. Faces tell a lot of the story. Winner gets a great job. I only watch a couple of shows on TV and that is one of them, but I know you guys don't care as we all have different opinion of TV shows. Something like Politics. I can honestly say I have never watched a sit com, why I don't know they just never interested me. My life is like a sit com maybe that is why. The only other ones I watch is Big Brother, Survivor and Wheel of Fortune
posted on March 30, 2004 01:03:09 PM new
Hey, fenix. I like the show, too. It's one of two reality shows I can stand (the other is Survivor). I was rooting for Omarosa to get the boot, too. What a PITA she was!
One thing about the show, it has made meadmire Trump,where I didn't really before. He has shown that he has such a sense of humor about himself. And that he has an incredible work ethic--he seems to get up at the crack of dawn each day, keeps personal tabs on all his projects,etc.
A windy episode last week showed that his hair is not acomb over, and that it's all his. I figure, if he wants to have a weird hair-do, it's his business, anyway. He wears it to suit himself & not anyone else, and that's something else I can admire.
******
Censorship, like charity, should begin at home; but unlike charity, it should end there --Clare Booth Luce
posted on March 30, 2004 01:12:01 PM new
fennix Omarosa Had an attitude with a chip on her shoulder. She had her agenda set at the beginning of the TV show and she said it. "I am going to win". Heidi stood in her way and when that happened she became a spoil sport. Faking that head injury. If it was that bad she whould have left the program, then at least she wouldn't have left a loser.
[ edited by Libra63 on Mar 31, 2004 10:08 PM ]
posted on March 31, 2004 09:27:28 AM new
there is really no fast track in business,pick a few young tiger/tigress and see which one is a winner.
it takes years to prove yourself to be a winner,trump should know that himself.
now ,it is deja vu all over again,what is trump going to do with his high debt??
-sig file -------we eat to live,not live to eat.
Benjamin Franklin
posted on March 31, 2004 05:54:06 PM new
Did you hear that she is negotiating for a talk show? Unless she is on BET she is going to be the most hated talk show host in history.
Who do you think is going to win? Who do you want to win?
~~~ ~~~ ~~~ ~~~ ~~~
If it's really "common" sense, why do so few people actually have it?
posted on March 31, 2004 08:00:36 PM new
i dont really see why people watch that stupid show?it is so new york new york!!
the real show is just about to unfold-will donald trump be martha stewart's cell mate??
now thats real business!
-sig file -------we eat to live,not live to eat.
Benjamin Franklin
posted on March 31, 2004 10:28:04 PM new
Fennix-found this doing a yahoo search dated March 15. Heard on the Hill: Former Gore staffer and fired candidate on "The Apprentice," Omarosa Manigault-Stallworth is contemplating a run for Congress or even 1600. However, she inflated her salary and her position with Gore in applying for another government job. Says one former top staffer, "You know the thing that bothers me the most about this is that we had a marvelous, committed, hard-working staff at the White House, and particularly in the VPs office. Now, because of that stupid TV show, who is the American public going to remember as having been on that staff? Omarosa, who was neither committed nor hard-working, and certainly not marvelous." Omarosa, who is raising money for the DNC, replies, "Im glad all of this stuff is coming out before I run for office.". . .
posted on March 31, 2004 11:56:12 PM new
Yeah, that's what the democratic party needs.... a b*tchy delusional Congresswoman with a texas sized chip on her shoulder.
Well, if there is an upside, in comparison even the republican will be loving Hillary
~~~ ~~~ ~~~ ~~~ ~~~
If it's really "common" sense, why do so few people actually have it?
posted on April 1, 2004 01:29:50 AM new
did you see Omarosa on "The View"? it came out that her high position for Gore was to be an assistant to the person who made appointments for him....not "the" assistant, just an assistant.
i did a jig when she got fired! she should realize that her eyes are dark because she is so full of herself!
Trump says some very wise common sense things on the show...and any business oriented person can learn something from watching it....
posted on April 1, 2004 10:06:33 AM new
It is not if I like Hillary or Laura. I like the person for what they are doing not what political party the belong to. Hillary, for the children. That is a plus. She is doing good for the senate district she is in. She did not do good for the national health care. Basically Hillary is a good person, married Bill as she saw potential in him. That was a plus for her. Laura, librarian. children are her main interest. She should be admired not for being the wife of the president but for the work for the children.
Omarosa has an agenda for herself and herself only. I think she is using the race card to her advantage and with all the articles on the web and with the programs she is visiting she is putting her foot in her mouth and is going to have a great fall. She is to stuffy arrogant and within herself. She can't see past her blinders.
I wonder who is going to get fired tonight. Sounds like a good program.
posted on April 1, 2004 10:36:07 AM newwhat is trump going to do with his high debt??
If he has legally structured the business entity correctly, he will not have to "do" anything because the debt is not personally his, it is the corporation's debt.
I heard an analyst yesterday talking about the Trump money problems. When asked if the lenders would get rid of Trump he said no -- Trump is a wonderful brand representative. I immediately pictured the Donald working as a doorman at one of the properties. LMAO !!!
posted on April 1, 2004 04:29:24 PM new
yeah,he is on tv now,he is saying casino is just a small part of his empire,and he is separating himself from his casino.
what else is new,the business may go under but the owner has already sheltered his money somewhere else.
i think he is in deep trouble,he is not answering the questions posed to him.
-sig file -------we eat to live,not live to eat.
Benjamin Franklin
Maybe he needs the money afterall.