On 8/8/2015 7:25 PM, jps wrote:
On Sat, 08 Aug 2015 13:40:53 -0400, "Mr. Luddite"
wrote:

On 8/8/2015 12:13 PM, wrote:
On Sat, 08 Aug 2015 12:01:06 -0400, John H.
wrote:

A debate amongst Republican presidential wannabees should focus on public issues, not
personal background. The questions asked of Trump should have been part of a
one-on-one interview. None of the other candidates were asked only personal
questions.

Had to get my comment in before reading the stuff which has been accumulating here
over the past three days.

When a guy is running on his business record, his bankruptcies should
be fair game.



I am not as concerned about businesses owned by Trump that declared
bankruptcy. He claims to own about 500 companies, only four of those
filed for bankruptcy. I believe at least two of them were "arranged"
bankruptcies, meaning he bought distressed companies, put them in
bankruptcy to mitigate liabilities and then re-incorporated them.
That's common in the business world. Hell, even the US government did
it with General Motors.

The Atlantic City/Gaming bankruptcies were big and ugly. He tried to
deflect by saying he screwed big players and bad guys but a ****load
of people lost their jobs and many more go hurt by his dubious
business practices. He's as loose and fast in business as he is with
his mouth.



I hear you but again, that's the way things are in big business and it's
two-sided. It's why I got out when the getting was good ... before I
had to deal with being part of a public company and all that goes with it.

I witnessed how small banks deal with business investments, lines of
credit or financing in another company that I worked for before I
started mine. Banks aren't your "partner" like they try to promote
themselves as. One quarterly downturn in business and missing one of
the covenants associated with your agreement and you can find yourself
out of business fast with a bunch of unemployed employees. When I
started my company I swore I'd never do any form of bank financing ...
and I didn't. Never had a bank line of any kind. All of the growth
financing was organic, based on profits made on an increasing volume of
contracts.

Trump plays with the *really* big boys for financing and I am sure it's
a big reason of why he is what he is and how he acts. I can't even
imagine it.

Have to admit though, Trump's places in Atlantic City were impressive
when they were in their prime. One of my stops on the way to Florida
with the boat was the Trump Marina/Casino. I don't particularly care for
those places though. Gives me a creepy feeling watching all the retired
people blowing their money trying to hit it big.

On Sat, 08 Aug 2015 20:23:31 -0400, "Mr. Luddite"
wrote:

On 8/8/2015 7:25 PM, jps wrote:
On Sat, 08 Aug 2015 13:40:53 -0400, "Mr. Luddite"
wrote:

On 8/8/2015 12:13 PM, wrote:
On Sat, 08 Aug 2015 12:01:06 -0400, John H.
wrote:

A debate amongst Republican presidential wannabees should focus on public issues, not
personal background. The questions asked of Trump should have been part of a
one-on-one interview. None of the other candidates were asked only personal
questions.

Had to get my comment in before reading the stuff which has been accumulating here
over the past three days.

When a guy is running on his business record, his bankruptcies should
be fair game.



I am not as concerned about businesses owned by Trump that declared
bankruptcy. He claims to own about 500 companies, only four of those
filed for bankruptcy. I believe at least two of them were "arranged"
bankruptcies, meaning he bought distressed companies, put them in
bankruptcy to mitigate liabilities and then re-incorporated them.
That's common in the business world. Hell, even the US government did
it with General Motors.

The Atlantic City/Gaming bankruptcies were big and ugly. He tried to
deflect by saying he screwed big players and bad guys but a ****load
of people lost their jobs and many more go hurt by his dubious
business practices. He's as loose and fast in business as he is with
his mouth.



I hear you but again, that's the way things are in big business and it's
two-sided. It's why I got out when the getting was good ... before I
had to deal with being part of a public company and all that goes with it.

I witnessed how small banks deal with business investments, lines of
credit or financing in another company that I worked for before I
started mine. Banks aren't your "partner" like they try to promote
themselves as. One quarterly downturn in business and missing one of
the covenants associated with your agreement and you can find yourself
out of business fast with a bunch of unemployed employees. When I
started my company I swore I'd never do any form of bank financing ...
and I didn't. Never had a bank line of any kind. All of the growth
financing was organic, based on profits made on an increasing volume of
contracts.

Trump plays with the *really* big boys for financing and I am sure it's
a big reason of why he is what he is and how he acts. I can't even
imagine it.

Have to admit though, Trump's places in Atlantic City were impressive
when they were in their prime. One of my stops on the way to Florida
with the boat was the Trump Marina/Casino. I don't particularly care for
those places though. Gives me a creepy feeling watching all the retired
people blowing their money trying to hit it big.

An ugly side to America, for certain. Those entities did a lot to help
my business grow but when the going got tough, they didn't mind
reneging on their promises.

Bean counters.

On Sat, 08 Aug 2015 20:23:31 -0400, "Mr. Luddite"
wrote:

Have to admit though, Trump's places in Atlantic City were impressive
when they were in their prime. One of my stops on the way to Florida
with the boat was the Trump Marina/Casino. I don't particularly care for
those places though. Gives me a creepy feeling watching all the retired
people blowing their money trying to hit it big.

I was in AC real early in the gambling game. The guys spent a night at
Ballys and moved enough chips to get a couple of rooms comped.
Although I broke about even Bally lost money on us.

We also decided to see what was outside the casino.
I knew then that this was a doomed "rejuvenation" of that slum city.
As soon as you walked out of the casino, the place was a **** hole and
there were not many people even adventuring outside.

wrote:
On Sat, 08 Aug 2015 20:23:31 -0400, "Mr. Luddite"
wrote:

Have to admit though, Trump's places in Atlantic City were impressive
when they were in their prime. One of my stops on the way to Florida
with the boat was the Trump Marina/Casino. I don't particularly care for
those places though. Gives me a creepy feeling watching all the retired
people blowing their money trying to hit it big.

I was in AC real early in the gambling game. The guys spent a night at
Ballys and moved enough chips to get a couple of rooms comped.
Although I broke about even Bally lost money on us.

We also decided to see what was outside the casino.
I knew then that this was a doomed "rejuvenation" of that slum city.
As soon as you walked out of the casino, the place was a **** hole and
there were not many people even adventuring outside.

I was in AC in the early 80's. You were definitely correct about built in
failure. Growing up and visiting Reno often as a kid. Dad liked to
gamble, mom watched shows, the overall town was clean, not a nasty,
dangerous slum looking area next to the casinos.

On Sun, 09 Aug 2015 10:12:44 -0500, Califbill billnews wrote:

wrote:
On Sat, 08 Aug 2015 20:23:31 -0400, "Mr. Luddite"
wrote:

Have to admit though, Trump's places in Atlantic City were impressive
when they were in their prime. One of my stops on the way to Florida
with the boat was the Trump Marina/Casino. I don't particularly care for
those places though. Gives me a creepy feeling watching all the retired
people blowing their money trying to hit it big.

I was in AC real early in the gambling game. The guys spent a night at
Ballys and moved enough chips to get a couple of rooms comped.
Although I broke about even Bally lost money on us.

We also decided to see what was outside the casino.
I knew then that this was a doomed "rejuvenation" of that slum city.
As soon as you walked out of the casino, the place was a **** hole and
there were not many people even adventuring outside.

I was in AC in the early 80's. You were definitely correct about built in
failure. Growing up and visiting Reno often as a kid. Dad liked to
gamble, mom watched shows, the overall town was clean, not a nasty,
dangerous slum looking area next to the casinos.

I think the main reason why New Jersey could not duplicate the success
of Nevada was because gambling was suddenly everywhere and they
started with a large built in population of welfare addicted poor
people.
In the late 40s and early 50s, Nevada was sparsely populated and the
people who came , came there for the casino business. If they couldn't
make it, they moved back where they came from.
The slums in AC were already there and they had more low skill people
than they had jobs for. The senior management came in with the casino
companies and sent most of the money back out of state.

I see it as being similar to the "spring training baseball" scam the
northern clubs have foisted off on southern towns. The promised jobs
bonanza and economic stimulus never seems to bear fruit. A few rich
people get a little richer but little of it trickles down to the
community.

Trump was just a metaphor for the rest of the carpet baggers who
swooped into AC, made a lot of money and left scorched earth behind
when they bailed out.
If the world was fair, the lenders could have clawed back some of
those profits in the bankruptcy but the accountants and lawyers
managed to isolate the money he took away from the assets he left
behind.