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Trump Entertainment Files Bankruptcy For Fourth Time: Even The Donald Is Embarrassed To Be Associated
When it comes to the slow-motion cataclysm that is Atlantic City, where as we reported recently the Revel Casino recently filed its second and final liquidation bankruptcy, no other name has seen more bankruptcies than Donald Trump. Or rather Trump Entertainment, because nowadays the two are anything but synonymous. In fact, the Donald is so embarrassed of his namesake legacy that a month ago he filed a lawsuit demanding that his name be stripped from the hotels making up the former.
As the AP reported at the time, "the real estate mogul said he had sued Trump Entertainment Resorts, a descendant of a corporate entity he once controlled, because it has allowed its two Atlantic City casinos, the Trump Plaza and the Trump Taj Mahal, to fall into disrepair, tarnishing his personal brand and confusing customers. "I want it off both of them," Trump said Tuesday evening. "I've been away from Atlantic City for many years. People think we operate [the company], and we don't. It's not us. It's not me."

Well maybe not, although the entity known as Trump Entertainment Resorts, f/k/a Trump Hotels and Casino, certainly "was us, was he."
It is this entity that filed for bankruptcy in 1991, then also in 2004 and again in 2009. It was at that point that the Don basically gave up and handed the keys over to the bank, or in this case Avenue Capital headed by Obama's favorite "French ambassador" Marc Lasry, following which the properties were sold for pennies on the dollar to the Meruelo Group, which has zero relation to DJT.
"Since Mr. Trump left Atlantic City many years ago, the license entities have allowed the casino properties to fall into an utter state of disrepair and have otherwise failed to operate and manage the casino properties in accordance with the high standards of quality and luxury required under the license agreement," Trump wrote in his lawsuit, filed in the name of Trump AC Casino Marks L.L.C.
Trump Entertainment Resorts CEO Robert Griffin declined to comment.
Trump appears particularly vexed at the impending closing of Trump Plaza on Sept. 16.
But while the closing was well-known, and a bankruptcy was speculated, as of moments ago it is now fact:
- TRUMP ENTERTAINMENT SAID TO PLAN CHAPTER 11 BANKRUPTCY FILING
Which means the Trump Entertainment brand, or whatever it will be called soon, has filed for bankruptcy for record 4 times in its brief but volatile history. In fact, this may be that one unicorn in the bankruptcy business: a Chapter 44.
There certainly will not be a Chapter 55.
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The Art of The Heel.
http://en.wikipedia.org/wiki/Trump:_The_Art_of_the_Deal
Donald Trump...the country's biggest welfare queen
Bigger than Buffet?
Actually thought of Buffet right after I hit save. Trump might be #2
The Don does not like you to call him a Queen..... but I do
With that fuck indoor only hairdo he has, he's asking for it.
This is one heck of a Recovery ....
Layoff List: http://www.dailyjobcuts.com
[
He looks more like Donald Grump these days.
Taking a page out of Prince's book, rather than rename the hotels, he should change his name to, "the Megalomaniac Formally Known As Donald Trump."
So Rosie O'Donnell was right?
Canary in the turbine.
Soon, he will look like Donald Tramp.
He has a new gig . Joined Ancient Aliens.
That will be a nice addition to the exsiting crowd.
The program might rename it to Modern Aliens.
I think his hairdresser should either ask for his money back from the hairdressing college, or admit he's just taking the piss!
Well, don't he Trump all!?
Chapter 11 keeping corporate dinosaurs alive since...... well about the time the Fed was born.
Lesson 235 from Donald: Don't use student loans to buy casinos because you can't file Chapter 11 even one time, let alone 4+x times.
You would think a man with that much money could afford some hair spray, or a better rug.
One reason he has money is because he likely doesn't waste it on stupid shit.
Like paying mortgages on underwater property.
This crony doucgebag is the Gene Simmonds of finance.
that's pretty fucking funny and accurate.
Your comment forced me to sign in and up-vote you.
LOL I LOVE HIS CLASSIC HAIR!
'The Art of the Squeal'
I have a little job for Ivinka or Ivana or Marla Maples.
What about Melania?
Frank Rizzo telling the illiterate not so good speaky englise receptionist at around 1:20. He tells her he has a little job for her on the side.
https://www.youtube.com/watch?v=Fauwxi60uZs
Hey donald go build another fucking golf course...this time up ur own backside.
The Donald, you're fired!
2 winners right there.
https://www.youtube.com/watch?v=rH2PPVPDVBg
Yore Fired, Douche Bag!
Not surprised. He really needs to shave that rats nest off his head.
Spray it with ether and light it on fire
NO No!!
He needs to let it grow out more so he can become the "white" Don King!!
Flock of Seagulls
He's a repeat offender. They can't stop until they are locked up.
You or I do that, we have to jump thru hoops of fire.
I thought Chapter 11 meant you can file for bancruptcy 11 times?
at least the guy with an alien brain sucker on his head is not asking for a bailout.
What are you taking about ? This loser brokers his own bailouts.
i did not know that Mr. Governer
He's so embarrassed his hair is standing on end. LOL
Fourth time? This is the fucking problem, let the bad businesses and bad managment fucking die already.
You can make money going bankrupt, if you plan properly.
I can see Donald doing an infomercial in the future, like flipping houses. Only this will be Flipping Bankruptcies.
Rich white guy rules are different. You know that!
Rules for blacks are different. You know that!
http://www.washingtontimes.com/news/2013/dec/30/editorial-eric-holders-k...
http://www.wnd.com/2013/06/family-picnic-targeted-by-black-gang/
http://nypost.com/2013/09/09/bus-riders-face-smashed-in-during-hate-attack/
You are sooooo right. The blacks have been getting a pass in this country for too long. It's almost impossible to get one of those people jailed!
Some may miss the sarc.
Sylv being one of the most likely candidates.
Some may misinterpret the sarc.
illogical man being one of the most likely candidates.
Your bigotry is showing.
Your idiocy is showing.
The old saying of "It's not just what you know that counts, but who you know and whom you blow" applied to Trump.
He's got his nose so far up the butts of NY Financiers and Bankruptcy lawyers, and donates to just the right charities, that this goy gets a free pass. Again... "It's a small Club, and we ain't in it".
Who keeps loaning him money? If I ran a produce company that supplied his restaurant or a window washing company, it would be cash on delivery.
Your 401K.
The Donald looks like he's gonna need one of his 70 degree loft wedges to get thru the fescue in his pompador!
LOL!
Even Phil with his 64 could not get through that. Looks worse than the kikuyugrass in the rough at Torrey Pines.
Looks like its got treble bogey written all over it!
And, finally, when there's nothing left, when you can't borrow another buck from the bank or buy another case of booze, you bust the joint out.
Burn it down. Some kind of lightening.
Do a Larry silverstein 911 on it.
ISIS target 4 sure!
Here is another Donald property that appears to have collapsed.
http://rumorfix.com/wp-content/gallery/ivana-trump-in-bikini/ffn_pal_tru...
Yikes!
I was expecting the daughter. Thanks, dude, thanks a lot.
Ouch!
Yeah eye bleach ain't gonna fix that. Cue the cat meme of what has been seen cannot be unseen.
OMG! Why do women of a 'certain age' wear bikinis?
Ivana is not an unattractive woman, but she is a bit long in the tooth. At some point, you have to put away the 'girly' clothes and go for dignity.
Time & gravity always win.
Nearly 100% of these major corporate bankruptcies have something in common:
Massive salary/bene/bonus payouts to the executives. Lehman, Enron, Kmart, Sears, JCP now, Home Quarters, WorldCom, CompUSA, the list goes on and on and on. Now throw in the megacorps that should be bankrupt, but were "saved" by accounting tricks and printed trillions, and their executives that continue setting records, and it quickly becomes apparent that our country's production is being converted into fiat and siphoned off by a few hundred evil men.
And we take our dwindling fiat and rush right out to make them even richer. I just don't get it.
Until we starve the beasts, and demand many heads, it will only get worse for us. I don't see that happening. Yet.
We’re friady cats and rightfully so. We’ll end up in jail getting raped while these con-men & con-women are exalted!
Do you think Martha Stewart personally cleaned any camel toe?
It seems that almost all corporations as simply platforms for a few people positioned at the top to drill down and extract wealth. When the well is dry, they auction off the gear and move to the next platform.
But don't you dare suggest that these cunts pay people a living wage. That would be fascist or some such bullshit.
The fascists would call it socialist.
The socialists would steal it from the middle class and say it would be fascist not to do so.
WTF? I guess we can expect to bailout GM three more times.
If ever there was a poster boy for misallocation of capital, there he is right there. It won't be long before some other sucker is lending him fiat.
He misallocates the hair on his head as well.
Since we’re talking about NY, i.e. NY financiers, lawyers, sharks, sheep, fall guys, and NY slang (that has lots of Yiddish in it)…
Trump plays the goy Schlemazel (“I’m so unlucky. Why is this always happening to me?”)
Trump’s financiers are the goy Schlemiels (“Why is he always doing this to other people?”)
Trump's "Allies of convenience" (Club members) are putting the deals together, and taking their cut. Snip, snip. When it falls apart... same story. Trump passes Go, his Allies pass Go, and they all "Collect 200 Million" in their version of Monopoly. Alas his bankers are left holding the Tab. Mazel tov!
Are you getting it now... The Art of the Steal? Ain't Casino Capitalism great! Don't it Trump all? "Elohim gadol!"
I think its safe to say a few deeply discounted five star golf & country clubs will be hitting the market soon!
You're fired. Again.
Man, dude could fucking front for Flock of Seagulls now that Mike has retired.
Or cameo role as the professor in 'Return To The Future IV'
Plus 1 for the Flock remark.
They opened for Duran, Duran in Boca Raton.
More beaver there than than all of North East Michigan. Ah, good times.
I didn't think there were beavers that far south? Especially with all the alligators and lack of densely wooded areas.
Great screen name. Funniest skit ever!
Prove your are Canadian - show me your beaver.
what an idiot!
"You, Flock of Seagulls, you know why we're here? Why don't you tell my man Vincent where you got the shit hid at."
http://www.youtube.com/watch?v=DIvUGUzR9N0#t=164
How can this be??? He had a TEEVEE show with a cool theme song. He made his contestants do stupid stuff and then sent them packing with the world's best catch phrase. Are you telling me there's more to running business than that?
Must be serious. His lips ain't stickin' out nowhere near a far as usual!
deleted due to bad taste
DO AC. (You would have to live in NJ to barely have a clue on this)
The Donald for President.
With all those bankruptcies, he defintiely would be suitable to head the most indebted empire that every existed.
So let me get this straight, if you are a corporation who pays no taxes and creates "entertainment" venues you can be absolved of your debts "at will." The human executives can remain the richest people in the world. The state is responsible for cleaning up the tacky facilities created in the process.
If you are an individual with student loan or tax debt, they send a goon with a gun after you. First they take your stuff, and if that aint enough, they put you in jail. Somebody should change something about this little world we live in.
"So let me get this straight, if you are a corporation who pays no taxes and creates "entertainment" venues you can be absolved of your debts "at will." The human executives can remain the richest people in the world. The state is responsible for cleaning up the tacky facilities created in the process."
The TAXPAYERS end up being responsible for cleaning up the tacky facilities created in the process. The human executives and the GOVERNMENT ELITES can remain the richest people in the world.
Fixed it for ya.
Speaking of taxpayers, tacky facilities and successful prominent Republican businessmen, government elites ... it seems like foxnews is doing a blitz to "force" Mitt Romney on the 2016 presidential ticket. I wonder if his wife's tax free my little pony "business" strutted their stuff at the "venues" covered in the recent zerohedge analysis of the Greek Olympic Wasteland . The sport is called "dressage"
Well, to keep the Pulp Fiction meme going (from the Flock of Seagulls reference above),
"That seems to be the situation."
I remember thirty years ago or more Trump just would not pay people. It was at the point that he had to pay up front to have Anything done. I have always thought of him as a phony and laugh that the Republican Party will let him have air time to promote, Donald Trump.
Since the 1990 U.S. elections, Donald Trump has made contributions to campaigns of both Republican Party and Democratic Party candidates. These have included Democrats Ted Kennedy, John Kerry, Tom Daschle, Joe Biden, Harry Reid, Rahm Emanuel, Hillary Clinton, Anthony Weiner, Charles Schumer, Kirsten Gillibrand, and Charles Rangel.
https://en.wikipedia.org/wiki/Donald_Trump
The trouble with being a billionaire is nobody will tell you when you are ridiculus.
Yet half of the poulation will still pay to wash his nasty feet
I wouldn't piss on him if he was on fire.
Trump won't file Bankruptcy for a 5th time.
I guess he's gonna "take the Fifth " in the end. No?
If you like your hypocrisy you can keep your hypocrisy.
Trump for President!
Because it can't get any worse. Unless Mittens comes back.
How can you buy something for pennies on the dollar and still not find a way to profit. Had to be that all the profits were skimmed off the top.
In an upside down economy the guy with the most bankruptcies is king!
Donald is an ass, but his daughter is SMOKIN'!!!!!!!!!!!!!!!!!!
From which pre-nup wife?
Look at all that comb-over blowing in the wind. My girlfriend has less air blowing about on a windy day.
Donald drove his casinos into the shitter (financially speaking) long before he dumped them on others. The only time he ever made money in real estate was when prices were screaming up, thanks to easy money policies of the banking sector. The most important thing he ever pioneered was the practice of holding his creditors hostage (either you renegotiate my debt or I go bankrupt and you lose it all).
I suggest the successor to Trump Entertainment develop their own version of “The Biggest Loser” and name Donald the immediate winner in the first episode, before the show gets cancelled in the pilot stage.
The show will be called "The Bankrupt"
looks like the 'Wildly Coifed One' is planning to do an 'Argentina' on 'em!
3 words: Jack Ass Hole
I'm afraid 'The Donald' is gonna have ta run the 'Garden Weasel' thru that thatch for a while before he gets it under control!
It just goes to show you that if you can keep a mere air of legitimacy the banksters will keep throwing money at you hoping it will eventually "stick".
Why would the banksters care?
If the loan doesn't work out the FED will always be willing and able to buy back it from the connected "too big too fail" bank at full face value on behalf of the future U.S. taxpayer.
It is good to be King.
The real question is why would any entity lend him a cent for the 3 bankruptcies he's already filed?
If this isn't crime lord money wending it's way thru the Long Cycle in the Maytag, then there never was a John Gotti.
I'm almost positive his brother is mayor of London!
https://www.google.ca/search?q=pictures+of+boris+johnson&biw=1548&bih=940&tbm=isch&imgil=R84zlDegvu38FM%253A%253Byz5A1KEbjX6mjM%253Bhttp%25253A%25252F%25252Fwww.theguardian.com%25252Fcommentisfree%25252F2010%25252Fsep%25252F09%25252Fboris-johnston-ed-balls&source=iu&fir=R84zlDegvu38FM%253A%252Cyz5A1KEbjX6mjM%252C_&usg=__xOgSYVGZb3pje04q_dXFTVyLADM%3D&sa=X&ei=9SIOVLqPE8PKggTb8oGACw&sqi=2&ved=0CCkQ9QEwBQ#facrc=_&imgdii=_&imgrc=R84zlDegvu38FM%253A%3Byz5A1KEbjX6mjM%3Bhttps%253A%252F%252Fstatic-secure.guim.co.uk%252Fsys-images%252FGuardian%252FPix%252Fpictures%252F2014%252F1%252F7%252F1389093343901%252FBoris-Johnson-014.jpg%3Bhttp%253A%252F%252Fwww.theguardian.com%252Fcommentisfree%252F2010%252Fsep%252F09%252Fboris-johnston-ed-balls%3B2560%3B1536
DONALD FOR PRESIDENT --------------VOTE DOLAND FOR PRESIDENT.
Looks like Mr Trump has paid to down vote certain posts.
Hey, , you DO realize trump was lead singer for "Flock of Seagulls" right?