General Discussion
In reply to the discussion: We are witnessing the beginning of the end of Trump [View all]Kathy M
(1,242 posts)worth . There was a CNN special a bit ago where they spoke with a banker from the Casino bankruptcies where he said they decided to keep Don alive ( out of personal bankruptcy ) so he would sell for them . All the buildings around who really owns them ? Seems lie Don just licenses 's out his name only
"Over the last few years, according to interviews and hundreds of pages of court documents, the real estate mogul has aggressively marketed several luxury high-rises as Trump properties or signature Trump buildings, with names like Trump Tower and Trump International even making appearances at the properties to woo buyers. The strong indication of his involvement as a developer generated waves of media attention and commanded premium prices.
But when three of the planned buildings encountered financial trouble, it became clear that Mr. Trump had essentially rented his name to the developments and had no responsibility for their outcomes, according to buyers. In each case, he yanked his name off the projects, which were never completed. The buyers lost millions of dollars in deposits even as Mr. Trump pocketed hefty license fees."
"Those who bought the apartments in part because of the Trump name were livid, saying they felt a profound sense of betrayal, and more than 300 of them are now suing Mr. Trump or his company."
"Mr. Davis is unable to recover any of his $100,000 deposit half of which the developer used for construction costs.
Another casualty: his admiration for Mr. Trump, whose books and television show Mr. Davis had devoured. I bought into an idea of him, he said, and it wasnt what I thought it was.
http://www.nytimes.com/2011/05/13/nyregion/feeling-deceived-over-homes-that-were-trump-in-name-only.html?_r=0
Why did Don really run for President ? To pay back some of the loans he has so he and family can still live the way they do ?
Trump the brand needs to be squashed and ruined beyond repair
edit to add ....I hope the ruined beyond repair happens in court with lawsuits and people get money back