J. Christian Adams has documented, Atlantic City isn’t Trump’s only failed enterprise, nor is it the only example of how Donald Trump has made money by duping Donald Trumpand bullying the little guys he now claims to speak for. Posted on 02/18/2016 9:21:21 AM PST by Stepan12
A lot has been written about how Donald Trump’s asset churning and bombastic attacks on partners and takeover targets in Atlantic City may have profited him personally, but ultimately led to the demise of his Atlantic City casino empire, costing small investors, contractors and suppliers millions of dollars and throwing thousands of employees out of work.
But as our friend, and former Justice Department lawyer J. Christian Adams has documented, Atlantic City isn’t Trump’s only failed enterprise, nor is it the only example of how Donald Trump has made money by duping Donald Trumpand bullying the little guys he now claims to speak for.
As Adams documented in the must-read article for PJ Media “Donald Trump's Record of Business Failures and Bluster,†Trump’s “legacy of business failures goes beyond the four bankruptcies of his Atlantic City casinos. It includes outsourcing jobs to China, ripping off students seeking an education, and leaving a path of devastated Americans in his wake.â€
Far from being an adept job creator, Trump's business history reveals someone skilled at making money at the expense of other Americans while his businesses fail – and a man who will say almost anything about these failures.
As evidence Adams first cites the example of Louis Piatt and Trump University.
Trump University was an unaccredited program that was supposed to teach ordinary Americans how to hit the big time in real estate. Mr. Piatt put his faith in Donald Trump before he concluded as Christian Adams put it, “Trump University was a worthless scam.â€
Professor Donald supposedly would offer personal lessons on how to make money. And says Adams, in a perverse way, Trump did.
Trump University made money by fleecing regular Americans who saved and paid tens of thousands of dollars in tuition before it vanished. Trump University taught a harsh lesson in grifting concluded Adams.
Trump University isn’t ancient history. The scam collapsed in a blizzard of lawsuits in 2010, and in 2013 (about the same time the Trump’s Atlantic City Taj Mahal was opening its strip club with lap dancing) the New York attorney general sued Trump University for $40 million for allegedly defrauding students.
Christian Adams goes on to cite a legacy of failures in Trump Vodka, Trump Airlines, and memorably Trump Steaks about which one reviewer might have been channeling a warning to voters in 2016 when he said:
"These burgers were tasteless loaded with fat and very messy to clean up after. Trump stated on the air that they were low in fat and would be helpful to anyone who is trying to watch their weight. This just is not the case they are so full of fat that the color of these burgers are white with a little pink. I am no stranger to Angus beef and high quality lean cuts of meat -- having a butcher in the family. I believe his burgers are not what they say they are."
But the scams didn’t end with Trump University – they are still being perpetrated through Trump’s vulgar (and unconstitutional) bluster about forcing CEOs who manufacture their goods in China to bring those jobs home.
You see, while Trump would like to bamboozle you into believing he’s strictly a “made in the USA†kind of guy, Adams points out Donald Trump’s eponymous neckties are not made in the USA – you guessed it – they’re made in China.
Trump built the scam by profanely threatening that if he is elected he would not only stop outsourcing jobs to China, but he would tell those CEOs who do so that they can go “f--- themselves.†Trump’s vulgar threat probably wasn’t self-directed, but, as Adams observed, it is part of his “say anything†approach to the presidential race.
Likewise, Trump’s bluster and threats of lawsuits are part of his tough guy image. But the reality is that when matched against the big boys in a court of law where facts and reality matter Donald Trump hasn’t been a winner, but a major league loser.
And in one of his most notable losses the leagues were the United States Football League and the National Football League.
You may recall that the USFL played in the spring and did well in the first few seasons because it did not have to compete with the NFL.
Enter Donald Trump to foul it up.
As Christian Adams documented in his report for PJ Media, in the league’s second year Trump bought the New Jersey Generals. Trump browbeat the other owners into moving the USFL schedule from the spring to the fall, thereby taking on the National Football League.
That started the fast decline of the USFL, and to make matters worse, Trump threatened a lawsuit against the NFL, eventually instigating an antitrust suit against big league football.
The outcome of the lawsuit was a joke, laughed at in law school classrooms to this day: Trump’s USFL lawsuit resulted in a mere $1 in damages (increased to $3 under federal antitrust law). Think about that next time you hear Trump threaten to sue someone, or talk about his record in the courtroom.
Adams points out that Trump uses the same bluster on the campaign trail, threatening to sue Ted Cruz or others who exercise their first amendment right to speak ill of him, but Cruz has now called his bluff.
We are looking forward to finding out if Trump will actually face off against Cruz in a forum where bluster and threats are meaningless.
Throughout all of Trump’s bankruptcies, business scams, and failed gambles, says J. Christian Adams, there has only been one constant -- Donald Trump’s ability to come out on top.
When he outsources jobs to China or rips off those who attended Trump University, it is the little guys, American workers who put their faith in Donald Trump, who bear the cost of his dealings, not Donald Trump.
What flim flam do you know who in the private sector meets the payroll for tens of thousands of people?
Crickets........
Maybe he can bring back the manufacturing of his own ties back from China, part of the 10 million jobs, etc............
That whole place went under by the way. Like trying to do business in a volcano.
I thought the anti-American globalists were gonna save the top-shelf anti-Trump dirty laundry for the general election. Looks like their shooting their wad prematurely.
That’s what I was thinking.
.. and the manufacturing of Trump suits from Mexico.
This isn’t the worst of it. You ain’t seen nothing yet.
As for J. Christian Adams being an “anti-American globalist”... HA!
Lot's of left wing pukes like Trump who fleece their customers and employees.... Trump, Zuckenburg, Soros, Buffett, etc.
This morning:
http://www.foxnews.com/politics/2016/02/18/fox-news-poll-trump-leads-in-south-carolina.html
“Trump captures 32 percent among South Carolina likely Republican primary voters. Ted Cruz gets 19 percent to Marco Rubio’s 15 percent. These are the only three candidates earning double-digit support.â€
Yet Trump is winning. Seems voters disagree with you.
He’s an entrepreneur. He’s done very well considering the regional obstacles he’s overcome to thrive.
I don’t think you are correct in stating his tens of thousands of employees over time were victims.
You like Sanders?
I know more about business and investing than you will ever know. There is a big difference in honorable business and a predatory VC ist as this puke is. Apparently as with other Trumpets, you care not to do the research,, or know what the difference is.
I’m writing you from Beverly Hills and still run some things and to me it is you that sounds on the fringe friend.
Do you believe successful entrepreneurs are passive?
No, but the best are at least ethical in this day in time.
Nope. After the rant, we wait, and watch the Trump devotees implode over a period of years. I’ve lived a long time. I’ve seen a long line of broken promises. Trump is no Messiah. He will disappoint. You can take it to the bank. And when he does, those of us who never drank the Trump Kool-aid will be here to help pick up the pieces. I just wish teaching young people wasn’t so expensive.
Peace,
SR
Just sue the man already......him gonna depose you in PUBLIC........rofl.....
Trump is a coward, Trump is a coward, Trump is a coward...dadada dada.
Well I am a Texas Oil Person and ran things too, who could have retired at 41, but waited till 55. Happily living comfortably on dividends and interest since.
How's that cost of living in CA?
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