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A Federal bankruptcy judge yesterday approved a prepackaged bankruptcy plan for Donald J. Trump's Plaza Hotel, giving a 49 percent stake in the luxury hotel to Citibank and five other lenders. Under the plan, Mr. Trump will still be employed as chief executive but he will not be paid and will not have a role in day-to-day operations, said Matthew Feldman, a lawyer representing the Trump Organization. The hotel was unable to meet its debt service payments and filed for bankruptcy protection on Nov. 2. Lawyers said Mr. Trump would continue to work on marketing plans for the Fifth Avenue hotel, which overlooks Central Park in midtown Manhattan. The lenders, which include the Industrial Bank of Japan, will take control of the hotel in exchange for giving more favorable terms to Mr. Trump on more than $550 million in debt on the hotel. The plan was approved by United States Bankruptcy Judge Prudence Abram. COMPANY NEWS - TRUMP'S PLAZA HOTEL BANKRUPTCY PLAN APPROVED - NYTimes.com ahahahahahahahah |
Stephen Hawking: Trump appeals to the lowest common denominator.
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:1orglaugh:1orglaugh:1orglaugh you're in over your head in these threads, bw. |
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Also saying he cares about American jobs, while all his stuff is made in China is irritating. When questioned publicly he could've said "I do it for profit", but lied and said "there are no factories that make these goods in the U.S." The biggest thing is I feel he's gonna be all about big business and not give a shit about small business. Also it seems clear now it would be 4 or 8 years of random drama with him publiclyy attacking people that bruise his ego, I dunno. He's totally turned me off at this point, that could change. All politicians are corrupt, no exception. |
He's worth billions how much are you worth? More than 99% of the people on this planet don't have the wealth this man has. Calling him a failure makes you look like a complete moron!
Almost every billion dollar company has successes and failures theirs nothing abnormal about that Quote:
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Trump Tower in NYC alone is probably worth close to 1 billion dollars! In assets his properties are worth well over a billion! Do the math retard! Do you know how much real estate is in NYC?
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rookie. :1orglaugh:1orglaugh:1orglaugh |
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So let me get this straight. You went to exact same source, found castrated version of very same article "for dummies" thus proving me, pal rochard and NY Times wrong? :1orglaugh:1orglaugh:1orglaugh I'm no graduate of Trum's University but let take a look. Here's quick summary Trump NY Plaza | Trump Plaza Hotel Long version for those who can read: http://www.nytimes.com/2016/01/17/bu...house-bid.html 8. The Plaza lost $74 million the first year into Trump’s ownership. 9. In the meantime, Trump racked up some $900 million of debt by personally guaranteeing building loans. 10. Trump signed over nearly all of his properties, including the Plaza, his yacht and his jet, in exchange for more favorable terms on his personal guarantees. ahahahahahahahahahahahahahaha So he lost equity, control of plaza and more equity.. :1orglaugh:1orglaugh:1orglaugh Great Success Under terms of an agreement reached late in 1992, that consortium agreed to forgive overdue interest payments on some $300 million in loans in return for a 49 percent stake in the Plaza. So he sold 49% of plaza for "interest payments" on 300 mil loans. INTEREST PAYMENTS !!!!!! http://gifrific.com/wp-content/uploa...rdan-laugh.gif |
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Why did he just borrow $100 million against it a few years ago if he's worth billions? Gullible fucks. Rumor has it that he had to borrow a million from his sister for the vet donation he promised 5 months ago. |
who gives a shit if he is worth $390M or $3.9B or $39B? what difference does it make?
at least you could say he earned it, unlike some of his opponents who collect $100s of millions in bribes, err, I mean speaking fees, for a living... |
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:1orglaugh |
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you're not at all up to speed on the story/events of it. you cherry pick bits and then point to those out of context. like rochard does. nevertheless, my post to rochard again was: no. the plaza did not sell for $350 million a little while later. i didn't get into whether or not the plaza hotel was a good investment, it wasn't, and even Trump acknowledged that in the full page nyt piece he wrote right after buying it. i'm right, as per always. and the ahahahahahahahahahahahahah is my signature line. so ahahahahahahahahahahahahaha |
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How much of the $200 million his daddy left him was earned? Conning old ladies out of their last cent is apparently admirable in your book and considered 'earning it'. And the Trumpanzees are convinced he's a multi billionaire because the guy that has been proven to lie 94% of the time says so. :1orglaugh |
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We are seeing how Trump cares about following the law. We are also seeing why he is afraid to release his returns. |
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You see the total value (!!!! now pay attention) was 325 mil. Thats what Abdul and Pu Yi got it for in 1992.. So thats little while after Trum bought it, pawn it, lost equity and everything else with it. Lets quote NYT again and lets pay attention: Quote:
Now what it sold after little while is irrelevant to Donny since he had no control or say in it and real owners poured millions in to it restructuring debt and every other obligation Trump generously passed on. Now in 2004 (that would be a while while after a little while) for 675 million. But that has nothing to do with Donny. Just like if you foreclose on your house, sell it Abdul and 10 years later Abdul sells it to someone else. ... Right???? :1orglaugh:1orglaugh:1orglaugh You see, that wasn't that hard, right? |
There must be a reason why so many people hate Donald J. Trump. :1orglaugh
Hatred or Respect is earned :2 cents: If you hate all successful people or hate all losers -- you are the one with a problem :2 cents: |
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From Wikipedia: During his undergraduate study, one of Trump's first projects had been the revitalization of the foreclosed Swifton Village apartment complex in Cincinnati, Ohio, which his father had purchased for $5.7 million in 1962. His father bought a apartment complex for $5.7 million. Then they invested yet more of Daddy's money into it. This was one project. This doesn't include the Broadway production he was into, no less the other properties they bought in and around NYC. If it wasn't for his parent's money, Trump would have been a hot dog vendor in NYC. |
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Why is it Trump calls Hillary "crooked" when the only one who has ever been charged and found guilty of a crime is... Trump? |
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"Under terms of an agreement reached late in 1992, that consortium agreed to forgive overdue interest payments on some $300 million in loans in return for a 49 percent stake in the Plaza. "There will be four partners," said Abraham Wallach, a spokesman for Mr. Trump. "The banks, primarily Citibank, who will get a preferred return on their equity; Prince Walid; CDL Hotels and Mr. Trump." you might not understand how Trump's lack of equity in the property played into the deal structure, that would be why you are confused. ahahahahahahahahahahahahahahah |
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and now you're admitting to a single instance instead of your previous lie. Seriously...... |
"Regardless of his financial troubles, Mr. Trump and his organization have run the Plaza quite well, said Thomas McConnell, a hotel expert with the accounting firm of Arthur Andersen & Company.
Before Mr. Trump acquired the Plaza, "it was more a three-star," Mr. McConnell said, "and he kicked it up to a four-star." The Plaza has had a consistent occupancy percentage in the high 70's or low 80's, which exceeds the city average, Mr. McConnell said." ahahahahahahahahahahah |
"Mr. Trump currently owns 51 percent of the Plaza. The rest is owned by the banks, which obtained their interest from Mr. Trump three years ago in exchange for a substantial reduction in his bank debt. Mr. Wallach said those involved hoped to complete the deal by summer.
Mr. Trump bought the Plaza during the real estate boom of the 1980's, using borrowed money. Additional debt was piled on the property over the next couple of years as he leveraged the landmark to buy the Eastern Airlines shuttle and to help pay the construction cost of his Taj Mahal casino in Atlantic City. By 1992, the weight of the recession that hit New York City after the stock market crash in 1987 and the collapse in real estate prices had taken a heavy toll on Mr. Trump's finances. Negotiations began to rework some $560 million in debt. After the Citibank consortium agreed to forgive the past interest payments on debt, Mr. Trump still retained the 51 percent interest on paper, but since he had no equity in the hotel -- having put up no cash when he bought it -- the banks effectively owned the property. The banks have been trying to find a buyer for the last three years." ahahahahahahahahahahahaha |
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What hillary did with the clinton foundation would have landed every republican in prison. the bottom will continue to root for their team and pretend she's not a criminal until the end. |
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Perhaps you are confused between "overdue interest payments" and "principal payments". :1orglaugh:1orglaugh:1orglaugh Lenders wrote off his INTEREST payments, not payments. :1orglaugh:1orglaugh:1orglaugh Hotel was sold at loss no matter how you look at it. After a while. Not in 2004 when smarter and more successful asian people sold it. :1orglaugh:1orglaugh:1orglaugh |
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Thats like brassmonkey buying purple SUV with zero percent down at easy 21% APR and selling it 6 month later for 49% of deflated value. :1orglaugh:1orglaugh:1orglaugh Children, you are dismissed. Last day of school is over. |
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the hotel did not sell for $350 million, Trump retained a 51% interest in the building under the partnership. i stated it sold later for $625m. you should let rochard fight his own battles about his wild anti-Trump claims. |
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this is a lol riot! :1orglaugh:1orglaugh |
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So Hillary, who has never been convicted of anything is "crooked". But Trump being dragged into court, being found guilty god only knows how many times, barely avoiding jail time, is perfectly acceptable because he is a businessman? What kind of logic is this? I want whatever it is you are drinking. |
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WASHINGTON ? President Obama signed a huge tax and spending package into law on Friday following congressional votes that avoided a year-end showdown over the budget and ended legislative business until lawmakers return in 2016. President Obama signs massive spending bill, tax measures into law So let me ask you again.... You want to put Trump in charge of this? |
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You see, this is how kids fail and repeat the 4th grade Its $325 million silly, not $350. Quote:
1988 --------1992---------------------------------------------2004 407mil-------325mil-------------------------------------------625 mil You see, I drew it for you :1orglaugh:1orglaugh:1orglaugh That very first ------ is after while .. The ------------------------------------- is "much after a while" when Adbul and Ling Ling Dong sold it. Donny retained nothing but negative numbers called liabilities... over 500 million as matter of fact. His "debt was not written off", his "late interest payments" were. The only thing he had in that hotel after "little while" sale of 1992 is the negative numbers in red color. :1orglaugh:1orglaugh:1orglaugh:1orglaugh |
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And no, using other peoples money is NOT #1 rule of business. |
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Never heard of it. I'm trying to find a connection from Sentient Jets to Trump and.... I'm coming up empty. I did find this: The Trump Organization, the global leader in real estate development, property management and luxury hospitality, announced an official partnership with Sentient Flight Group, the nation's leading private aviation company. Through this powerful partnership, The Trump Organization, its patrons and residents of its properties will have special access to Sentient's full-service private aviation offerings. This affiliation will provide Trump clients the highest level of service and luxury available in private aviation. With a family of flexible product offerings and a deep commitment to service and safety, Sentient has a unique ability to meet any private travel need. The program for Trump clients will include the convenience to fly "one-off" trips to and from Trump locations, as well as preferred access to join the Sentient Jet Membership Program. Sentient Members will also receive special benefits at Trump properties. The alliance will create a unique travel experience for both Sentient and Trump clients. So this isn't a Trump business, it's not run by Trump.... It's a partnership where Trump clients will have "special access" to the planes Sentient Jets owns, and Sentient Jets clients will have "special benefits" at Trump properties. This isn't a Trump success story. It's a business that isn't owned by Trump. |
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you put a lot into this post btw, rochard's stoked you're covering for him. :1orglaugh |
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:1orglaugh:1orglaugh is that another rochard business mantra you're defending? |
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He's never been found guilty, he was never at risk for jail time. Hillary's unintelligent base will say anything, it appears |
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Once again ypu are confused. Its called "disposable income" not savings. 29 Warren Buffett Quotes on Investing & Life | Rule #1 Investing http://static6.businessinsider.com/i...-by-age-16.jpg |
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