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The Irony: Trump Casino Empire Files for Bankruptcy

C

craigdawg

macrumors 6502
Original poster
Mar 8, 2004
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Sactown
Is this ironic? Alanis Morisette screwed me up.

I have a feeling this will have no impact on the size of The Donald's wallet. CEO-types usually emerged unscathed from bankruptcy filings. Hopefully he won't have to lay anyone off.

Donald J. Trump's casino empire has filed for bankruptcy protection after months of negotiations with bondholders over restructuring a crushing debt...

The filings come even as Trump, the celebrity developer and best-selling author, has returned to the spotlight with the television show "The Apprentice," which turned "You're fired" into a national catch phrase...
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http://story.news.yahoo.com/news?tmpl=story&cid=492&e=17&u=/ap/trump_casino_bankruptcy
 
What's even better is that in general, casinos do extremely well. Unless they are poorly run, it's hard not to make money running a casino.

Perhaps he should have put his Apprentices to work there instead of designing ads for Levis.
 
Will there be a season 3? I would think there would be a little respect lost from the participants knowing the Trump Casino Empire is filing bankruptcy.
 
"I don't think it's a failure, it's a success," he said in the interview. "In this case, it was just something that worked better than other alternatives. It's really just a technical thing, but it came together."

It's probably the optimism of Trump that will prevail. He hasn't amassed his great wealth with being a very smart person. People make mistakes, in this case it seems to bee very costly. With the bankruptcy, he now has a chance to turn this around.
 
A lot of Trump's money is either in stocks or real-estate, I'm wondering how much money does he have in cash.
 
Hmm. This is not the first time one of his holdings has gone into bankruptcy. But the banks won't stop loaning him money. He's Donald Trump, after all.


Jovian9 said:
I would think there would be a little respect lost from the participants knowing the Trump Casino Empire is filing bankruptcy.
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Really. I thought about that myself. Can you imagine The Donald saying to somebody, "You're fired!", and the guy shoots back, "Hey, at least I didn't run a casino into the ground."
 
Warren Buffett's only freestanding residence is a relatively nice home in midtown Omaha that he bought many years ago for $35k, and I imagine that his apartments are similarly modest, considering his coupon et cetera habits. Do you ever hear about him or any of his companies going broke?
 
broken_keyboard said:
How can you go bankrupt running a casino? I thought all the games were subtley rigged to favor the house. Maybe too high expenses.
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He has been building too many casinos. Living too lavish of a life style. Being too lavish with the way that the Casinos are built and run. Then ones has to wonder about the compentency of the management group for the casinos.
 
JeffTL said:
Warren Buffett's only freestanding residence is a relatively nice home in midtown Omaha that he bought many years ago for $35k, and I imagine that his apartments are similarly modest, considering his coupon et cetera habits. Do you ever hear about him or any of his companies going broke?
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Warren Buffett...now that's a billionaire the average guy can love. He was one of the first people to say, "Tax cut?? What the f*** do I need with a tax cut?!" :D
 
Debt Management

Maybe I'm paranoid, but isn't this just a way to offload some debt? Sounds like a good business move to me - not a sign of having failed.

As fer the show - didn't I hear that Martha Stewart has been asked to do next season?
 
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