He put up little of his own money, shifted personal debts to the casinos and collected millions of dollars in salary, bonuses and other payments. The burden of his failures fell on investors and others who had bet on his business acumen.
After narrowly escaping financial ruin in the early 1990s by delaying payments on his debts, Mr. Trump avoided a second potential crisis by taking his casinos public and shifting the risk to stockholders.
And he never was able to draw in enough gamblers to support all of the borrowing. During a decade when other casinos here thrived, Mr. Trump’s lagged, posting huge losses year after year. Stock and bondholders lost more than $1.5 billion.
All the while, Mr. Trump received copious amounts for himself, with the help of a compliant board. In one instance, The Times found, Mr. Trump pulled more than $1 million from his failing public company, describing the transaction in securities filings in ways that may have been illegal, according to legal experts.
Mr. Trump now says that he left Atlantic City at the perfect time. The record, however, shows that he struggled to hang on to his casinos years after the city had peaked, and failed only because his investors no longer wanted him in a management role.
TL;DR: he paid himself handsomely and left others holding the bag.
Most of us know some of his failures, like the AC deal, were a huge blow to a lot of people measured in billions of dollars.
I guess we’re gonna re-hash this, hurray.
Take the value of his inheritance or the estimated value of his dad’s business when he took over as President/CEO, factor in $ inflation, time value of money, real estate inflation from the 70s-Present, etc… and you’ll see he’s managed the family business okay at best. If you benchmark his performance in real estate alone he is an underperformer.
This, of course, has already been done, but some people just hear the “B” word and think he must be a genious. He’s done okay with daddy’s money.
You must have a vivid imagination to equate lack of leadership to extremism.
Show me where Ryan or the others have had enough political savvy to create some legislation by give and take, rather than straight party votes or obfuscation.
Politicians richly deserve their low approval rating, and to be fired for poor performance.