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Trump and His Debts: a Narrow Escape
The Wall Street Journal ^ | Jan 4, 2016 | Peter Grant and Alexandra Berzon

Posted on 01/13/2016 5:43:11 PM PST by dschapin

... After gaining control of two casinos through deals that loaded them with debt, [Trump] turned in 1987 to the Taj Mahal, a megaproject being built by publicly traded Resorts International Inc.

Mr. Trump bought a class of shares that gave him just a slice of Resorts’ equity, but voting control. From that perch, he pushed through a service contract that would have the company pay him $108 million over five years. He told casino regulators the company could raise the cash needed to finish its casino only by assuring lenders Mr. Trump would remain involved, which this contract did.

Upon news that funding was uncertain, Resorts’ stock plunged. Mr. Trump then told investors the only way to finish the Taj Mahal was for him to buy Resorts at just above its reduced share price. Construction lenders, he said, were put off in part by the high cost of his service contract.

(Excerpt) Read more at wsj.com ...


TOPICS: Front Page News; Government; News/Current Events; Politics/Elections
KEYWORDS: bankruptcy; donald; ethics; g42; itstdstimekids; tds; trump
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To: GraceG
I think Trump will either fix a lot of things or he will Burn everything,

I agree, I can't help think that we will get more of the same with Cruz, even though I would vote for him should he get the nomination.

I am all for destroying DC at this point, which I think only Trump can do.

Been burned by the self professed "conservatives" for the last 6 years, I'll roll the dice on Trump, gladly.

EEF em all.

21 posted on 01/13/2016 6:02:56 PM PST by Las Vegas Ron ("Medicine is the keystone in the arch of Socialism" Vladimir Lenin)
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To: MtnClimber

[ Yes, the question I have is 1) will he be negotiating for himself and against us, or 2) Will he be negotiating for himself *(and us) against the US Government/Regulator-class tyrants? ]

I have the same questions / Concerns.

I do like both Cruz and Trump, I like Cruz because of his history as solicitor General and his bucking and pissing off the GOPe all the time in DC. I like Trump as he is currently pissing of the GOPe and his business / negotiating and his populism.


22 posted on 01/13/2016 6:03:00 PM PST by GraceG (Protect the Border from Illegal Aliens, Don't Protect Illegal Alien Boarders...)
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To: dschapin
So Trump is imperfect, too. Some people will have trouble acknowledging that.

But I'll still take Cruz or Trump, in that order.

23 posted on 01/13/2016 6:04:32 PM PST by skeeter
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To: Las Vegas Ron

[ EEF em all. ]

Yep, I am sick of THE establishment, that being the Federal Bureaucracy.


24 posted on 01/13/2016 6:05:08 PM PST by GraceG (Protect the Border from Illegal Aliens, Don't Protect Illegal Alien Boarders...)
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To: dschapin; All

It looks to me as if all the long knives are coming out for Trump today - if I were younger, I might be swayed into thinking there was something there...

but no, it is just the usual political cr@p, back stabbing, efforts to sway public opinion in the low info voters, and maneuvering to herd the sheep into the pen.

So, not wanting to be herded, I am still up on the fence -

Considering the hostility to (& fear) of Trump I see out there in the press, and the pundits, I can only conclude that he is the one most capable of upsetting the status quo, which, if you haven’t figured out by now isn’t very good for us sheep.

They are all wolves when they take money from the big pacs.

I started off really liking (and financially supporting) Cruz, but am losing faith in his independence, and now am worried that he is controlled by big money.

Will be waiting and watching, but am no longer trusting the Republican establishment. They left me, and now I no longer belong to any political party, for I fear it is all fixed, like TV wrestling, with us being the suckers.


25 posted on 01/13/2016 6:05:55 PM PST by jacquej ("You cannot have a conservative government with a liberal culture." (Mark Steyn))
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To: tillacum
"Cajones" -- what did he ever have to lose?

Money. In his value system, credibility.

Real cajones are found in guys who have more than money to lose if they risk too much.

Now, granted, standing for something like 17 hours in Congress to stop Obamacare, on Ted Cruz' part, maybe didn't call for the kind of cajones you attribute to Trump.

Trump didn't have the cajones to tell his supporters the truth about Cruz and ethanol. He wimped out and lied to them just a few days ago, telling them Cruz had "just switched his views on ethanol, he was totally against ethanol, now he's totally for it ..."

Methinks Trump's cajones are more like frijoles.

26 posted on 01/13/2016 6:06:46 PM PST by Finny (Voting "against" is a wish. Be ready to own what you vote for.)
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To: dschapin

Trump having 4 bankruptcies out of hundreds of high risk deals is about a 97% success rate.

How many of us have that kind of track record with high risk investments, much less bonds and stocks?


27 posted on 01/13/2016 6:10:05 PM PST by CottonBall
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To: kiryandil; All
dschapin - another one of The Usual Suspects...

Yew gots The Tee Dee Ess bad, boy...


Yep he do, but HELP is on the way!!

Image and video hosting by TinyPic
28 posted on 01/13/2016 6:10:23 PM PST by mkjessup (JimRob: "It's Trump or Cruz, all the others are amnesty pimps" And the man is RIGHT!)
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To: dschapin

Trump is good at building things. President Cruz should hire him to build the wall... and send his bill to Mexico!


29 posted on 01/13/2016 6:11:22 PM PST by kik5150 (Cruz argued 9 times before Supreme Court judges. Trump argues with beauty pageant judges.)
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To: jacquej
They are all wolves when they take money from the big pacs.

According to the Times:

NEW ORLEANS - Striding up the sidewalk of one of this city's most affluent neighborhoods on Monday evening, S. Scott Sewell seemed an unlikely figure to be attending a fund-raiser for Senator Ted Cruz. An oil industry executive, Mr. Sewell served in President George Bush's administration, lent a hand to George W. Bush's 2000 presidential recount, and was twice a chairman for Mitt Romney's Louisiana campaigns.

And there were a slew of other establishment types there... all making nice and ready to do the wink and nod.

30 posted on 01/13/2016 6:19:10 PM PST by Lagmeister ( false prophets shall rise, and shall show signs and wonders Mark 13:22)
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To: skeeter

Well, I’m not upset so much by the fact that Trump is imperfect. It’s more that there are people on FR who are painfully holier-than-thou about it and it’s seriously pissing some of us off.


31 posted on 01/13/2016 6:27:14 PM PST by Luircin
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To: Lagmeister
S. Scott Sewell seemed an unlikely figure to be attending a fund-raiser for Senator Ted Cruz.

Like Trump was an unlikely friend of the Clintons? So what - this is what executives do.

32 posted on 01/13/2016 6:29:04 PM PST by skeeter
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To: Luircin

Believe me, the abuse goes both ways.


33 posted on 01/13/2016 6:29:57 PM PST by skeeter
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To: Candor7

I have lost count with the number of anti Trump threads started today.

This crap needs top stop. Cruz or Trump and stop fighting each other, it is pathetic.


34 posted on 01/13/2016 6:32:36 PM PST by manc (Marriage =1 man + 1 woman,when they say marriage equality then they should support polygamy)
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To: dschapin

But, you trust politicians, right? Even St. Cruz is a smarmy, slick, silver-tongued lawyer politician. His votes have done things to hurt Americans, whereas, Trump has never cast one vote which has put the American people in harm’s way. Where has your trust of politicians gotten us? Look around - therein lies your answer.


35 posted on 01/13/2016 6:33:24 PM PST by Catsrus (I callz 'em as I seez 'em)
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To: dschapin

Can see that from the hit piece.

For the record it is trump or Cruz, don’t care which, but this pathetic attacks only gives ammo to the left and these hit pieces are the work of the left, whether on Trump or Cruz.


36 posted on 01/13/2016 6:34:39 PM PST by manc (Marriage =1 man + 1 woman,when they say marriage equality then they should support polygamy)
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To: Vendome

Please take a look at what he did in the Resorts International (Taj Majal) case. He bought privileged stock to gain voting control over the company while still not owning a majority of the companies equity. Then using that voting control, he forced through a service agreement where the Resorts International would pay him tens of millions of dollars over five years. He then told a casino regulator that this agreement was the only way that the casino could attract funding. That rumor then scared off funding and caused the stock value to plummet which enabled him to ultimately workout a sweetheart buyout plan for the company at the expense of all the other stockholders.


37 posted on 01/13/2016 6:35:23 PM PST by dschapin
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To: jacquej

I noticed the same. It seems that all the hit pieces today against trump are not a coincidence.

Cruz and trump supporters need to knock it off and stop dong the lefts bidding.


38 posted on 01/13/2016 6:36:11 PM PST by manc (Marriage =1 man + 1 woman,when they say marriage equality then they should support polygamy)
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To: Luircin

Just said the same.
these attacks on Trump or Cruz should stop. The establishment are already attacking as is the left and then we have some supporters doing a mass hit piece on trump today on here.
Knock it off


39 posted on 01/13/2016 6:37:47 PM PST by manc (Marriage =1 man + 1 woman,when they say marriage equality then they should support polygamy)
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To: skeeter

and it should stop from both sides.


40 posted on 01/13/2016 6:38:17 PM PST by manc (Marriage =1 man + 1 woman,when they say marriage equality then they should support polygamy)
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