(October 10, 2016 at 1:43 pm)Minimalist Wrote: Genius, huh?
http://money.cnn.com/2016/10/10/news/com...-stack-dom
Quote:Trump Taj Mahal closes its doors in Atlantic City
Quote:The Taj opened in April 1990 and had financial problems almost immediately, according to an analysis by CNN of documents Trump filed with state gaming authorities.
Trump financed it with junk bonds and could not cover their payments with profits from the gaming operations. On four of the Taj's first 16 days of operation, its bank account contained less than $0, with deficits as deep as $1.7 million, according to a New Jersey Division of Gaming Enforcement report from 1990.
I have never understood why certain people consider Trump some sort of financial genius. He's squandered a ton of his dad's money, and has numerous, high profile failures attached to his name. His brand has been synonymous with gaudy, chintzy crap for decades. His rise to popularity in the last decade stems from NBC giving him a reality show so he could chastise other D-list celebrities. It had nothing to do with his business acumen (such as it is).
Just because someone has money, it doesn't mean they're successful.
"I was thirsty for everything, but blood wasn't my style" - Live, "Voodoo Lady"