This page has been archived and commenting is disabled.

Another Trump Co Bankruptcy Filing Imminent

Tyler Durden's picture





 

The man who spends 120% of his time between fixing his hair, discussing his presidential chances on CNBC and filing for bankruptcy has done it again.

  • TRUMP'S PANAMA OCEAN CLUB MISSES BOND INTEREST PAYMENT

It sure puts our commentary on the Donald's morning CNBC appearance into perspective.

 


- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Wed, 11/16/2011 - 11:01 | Link to Comment Comay Mierda
Comay Mierda's picture

whoever invests with this asshole deserves what they get

Wed, 11/16/2011 - 11:12 | Link to Comment CPL
CPL's picture

I've often wondered how he's still operating considering his speckled past of poor post management on any of his deals.

 

Can anyone name a project of his that's lasted longer than a year...two years...that hasn't gone broke.  I know he was the "art of the deal" asshole in the 80's with NYC real estate.  What has he honestly done that has created any net benefit for anyone, including himself, in the last 25 years?

 

 

Wed, 11/16/2011 - 11:19 | Link to Comment Potemkin Villag...
Potemkin Village Idiot's picture

What has he honestly done that has created any net benefit for anyone, including himself, in the last 25 years?

---

Perhaps he's singlehandedly responsible for men opting for baldness as a fashion style...

Wed, 11/16/2011 - 15:03 | Link to Comment Hephasteus
Hephasteus's picture

+1 for my old friend Ralph. Who no matter what is not as ugly as donald stump.

Wed, 11/16/2011 - 11:37 | Link to Comment Astute Investor
Astute Investor's picture

Trump keeps operating because he changed his MO after hitting the wall in the early '90s.  He now has neglible if any of his own equity in the majority of his ventures (e.g.  Trump International Hotel & Tower in Chicago), preferring to earn management and licensing fees while using OPM to fund development.  With no skin in the game, Trump is happy to roll the dice and lever his investments to absurd levels.  Trump has borrowed gizillions over the years from the public HY market and stiffed investors on numerous occasions.  You would have thought investors would have learned that once bitten, twice shy.

Wed, 11/16/2011 - 12:55 | Link to Comment sgt_doom
sgt_doom's picture

But, CPL, you could be describing so many corporate "heroes" today, as well as all those flibbertigibbets who dare call themselves economists (at MIT, Harvard, Princeton and Yale) who have never gotten anything in their lives right or correct!

Feldstein at Harvard?  What a shill.

Ferguson at Harvard, another two-pence shill?

Two clowns from MIT who recently wrote one of those pre-financed Wall Street propagada drivel books, claiming the offshoring of jobs has had no effect on the job market, it's automation that's too blame?

(Evidently, arithmetic isn't their strong suit at MIT, especially judging by those previous clowns like Samuelson and Thurow.)

Peddling junk paper, offshoring jobs, importing foreign scab labor (shades of the historic animus to the Alien Contract Labor Act of long ago), doing leveraged buyout "pump-and-dumps" --- when was the last time you met or heard of an American CEO who knew anything whatsoever about business, production, innovation?  (And yes, Steve Jobs may have been a standout, but look at the lack of any real competition?)

Wed, 11/16/2011 - 11:22 | Link to Comment Au_Ag_CuPbCu
Au_Ag_CuPbCu's picture

And if the "investor" just happens to be a TBTF bank, they deserve a bailout.  Fuck you Ben!

Wed, 11/16/2011 - 11:31 | Link to Comment Freebird
Freebird's picture

Oceanclub $7K a square meter, boom times in little old Panama..what possibly could go wrong with local banks loaning now a maximum of 1200 a meter.....

Wed, 11/16/2011 - 13:07 | Link to Comment Carlyle Groupie
Carlyle Groupie's picture

It was doomed from day one. Anyone in Panama City could have told you that, but The Donald prolly skimmed about $20 million off the top.

No wonder he joyfully accepted that little cunt Jared Kushner into his family.

http://en.wikipedia.org/wiki/Jared_Kushner

Jew it up Donny!

Wed, 11/16/2011 - 15:24 | Link to Comment JungleJim
JungleJim's picture

I agree with you completely, except I think we should show a lot more respect if not reverence for "cunts".

   Just one mans opinion ....

Wed, 11/16/2011 - 11:36 | Link to Comment YesWeKahn
YesWeKahn's picture

you forgot "sleep with call girls"

Wed, 11/16/2011 - 11:40 | Link to Comment Freewheelin Franklin
Freewheelin Franklin's picture

...and any one who contracts with this asshole. I personally know several contractors in South Jersey who lost their businesses because of Trump.

 

Let him try to declare bankruptcy in Dubai, and see what the Arabs do to his ass.

Wed, 11/16/2011 - 11:54 | Link to Comment covert
covert's picture

this has always been part of his strategy, but, most people didn't notice it. newyorkers understand it much better.

http://expose2.wordpress.com

 

Wed, 11/16/2011 - 12:11 | Link to Comment SteveNYC
SteveNYC's picture

Truth. Possibly the biggest con-man/empty suit/promoter/bullshit artist of all time.

Wed, 11/16/2011 - 14:32 | Link to Comment Bollixed
Bollixed's picture

Which makes him the PERFECT Presidential candidate. He's almost over-qualified.

Wed, 11/16/2011 - 15:18 | Link to Comment JungleJim
JungleJim's picture

Make that F****king asshole .....

Wed, 11/16/2011 - 11:01 | Link to Comment GeneMarchbanks
GeneMarchbanks's picture

You meant "hair"

Wed, 11/16/2011 - 11:22 | Link to Comment kaiserhoff
kaiserhoff's picture

Hey, a little respect...  He paid good money for that muskrat.

Next, you'll be complaining about his girlfriend's store bought titties.

Wed, 11/16/2011 - 11:49 | Link to Comment SilverIsKing
SilverIsKing's picture

No complaints here.

Wed, 11/16/2011 - 11:01 | Link to Comment Ancona
Ancona's picture

Anyone who invests with this douche deserves to lose their money. How many bankruptcies idoes this make?

Wed, 11/16/2011 - 11:12 | Link to Comment CPL
CPL's picture

Countless by my memory.

Wed, 11/16/2011 - 15:06 | Link to Comment Hephasteus
Hephasteus's picture

He's sold more junk bonds on himself than enron.

Wed, 11/16/2011 - 11:01 | Link to Comment HD
HD's picture

What is this number five?

Wed, 11/16/2011 - 11:25 | Link to Comment disabledvet
disabledvet's picture

Same number that my sister had husbands. She keeps "getting the House" as well. Perhaps she and the Donald are connected somehow?

Wed, 11/16/2011 - 11:02 | Link to Comment holdbuysell
holdbuysell's picture

You just can't make this stuff up. And yes, CNBC, get that guy back on.

He's got some 'splainin' to do.

Someone cut this guy off.

Wed, 11/16/2011 - 11:02 | Link to Comment The Axe
The Axe's picture

I agree with that scary clown dude....

Wed, 11/16/2011 - 11:03 | Link to Comment GMadScientist
GMadScientist's picture

Gimme a 'T'

Gimme an 'R'

Gimme a 'U'

Gimme an 'M'

Gimme a 'P'

What's that spell?

BROKE!

Perhaps he was better qualified for modern government than I had originally anticipated.

Wed, 11/16/2011 - 11:03 | Link to Comment lizzy36
lizzy36's picture

Trump missing a coupon payment. Quelle surprise.

Wed, 11/16/2011 - 11:13 | Link to Comment Potemkin Villag...
Potemkin Village Idiot's picture

He's FIRED!

Wed, 11/16/2011 - 11:27 | Link to Comment disabledvet
disabledvet's picture

But did he get a Groupon payment? He did recommend a bank stock a few weeks back...

Wed, 11/16/2011 - 13:48 | Link to Comment slewie the pi-rat
slewie the pi-rat's picture

say, could you pass the grey poupon, please?

trump just loves to give bald guys haircuts, too!

Wed, 11/16/2011 - 11:03 | Link to Comment Stuck on Zero
Stuck on Zero's picture

But, but ...  he's a celebrity!

Wed, 11/16/2011 - 11:05 | Link to Comment Gringo Viejo
Gringo Viejo's picture

Ya gotta love this guy. A scammer's scammer.

Wed, 11/16/2011 - 11:13 | Link to Comment WonderDawg
WonderDawg's picture

Yep, the con man that other con men strive to be.

Chased a gringo last night through a field...

http://www.youtube.com/watch?v=bzQApZWlxgw

 

Wed, 11/16/2011 - 11:05 | Link to Comment DaveyJones
DaveyJones's picture

did u post this just to make us feel better?

Wed, 11/16/2011 - 11:06 | Link to Comment Tsar Pointless
Tsar Pointless's picture

Donald Trump is the poster child for why there should be higher inheritance taxes in the USofA.

Wed, 11/16/2011 - 12:31 | Link to Comment NotApplicable
NotApplicable's picture

He lost all of that money years ago!

Gotta give him credit for his ability to work all of his ties with unions, governments, mafia, contractors, etc...

He's like the PT Barnum of the high-end real estate world.

Wed, 11/16/2011 - 11:07 | Link to Comment TeamDepends
TeamDepends's picture

Does this mean he can't be President?  Dang.

Wed, 11/16/2011 - 11:08 | Link to Comment Fish Gone Bad
Fish Gone Bad's picture

Perhaps it is better to look good, than to feel good.

Wed, 11/16/2011 - 11:12 | Link to Comment vast-dom
vast-dom's picture

Good. Trump has the taste of a bedouin whore and the wig of a homeless person. He has pissed all over the city with gold and obsidian kklahhsiness.

Wed, 11/16/2011 - 11:11 | Link to Comment drivenZ
drivenZ's picture

My comment on Zh from three months ago...

The Donald knows how to game the system...the real estate, bankruptcy, B list celebrity system that he operates in. Wearing that roadkill on his head can't shield him from a good old fashioned market drubbing.  Sorry Donald stick to your go-to(runnning businesses into the ground and reality TV, Hey Jim Cramer and Glenn Beck are doing just fine!) 

 

good to see he's getting back to his bread and butter. 

Wed, 11/16/2011 - 11:11 | Link to Comment jcaz
jcaz's picture

Oh no, it's just a "tactical business decision, he meant to miss that payment";

He's never filed for bankruptcy- just ask him.

Dad must be so proud-  Trump turned his silver spoon to tin, brags about it.....

Wed, 11/16/2011 - 11:12 | Link to Comment Jalarupa
Jalarupa's picture

Guess who's getting fired now fuckface...?

Wed, 11/16/2011 - 11:12 | Link to Comment marcusfenix
marcusfenix's picture

was this another casino? how the hell do you run a casino into the ground? that shouldn't even be possible...it's a casino, the house wins what, 90% of the time on these games? I mean people walk in the door, throwing down large sums of money knowing already that they are most likely going to leave with less than they started.

It's the one place where people go to lose money for the fun of it...how do you mismanage that idea so badly that you have to file chapter 11?

this guy would have been perfect for 2012...

Wed, 11/16/2011 - 11:13 | Link to Comment Bruin4
Bruin4's picture

The bigger question is why did anyone ever buy this mans bullshit? 

Wed, 11/16/2011 - 11:15 | Link to Comment Mae Kadoodie
Mae Kadoodie's picture

This is a phenominal opportunity to own Panamanian real estate gold.

Wed, 11/16/2011 - 11:15 | Link to Comment TheBadgersSett
TheBadgersSett's picture

This guys finances have had more hits than the Beatles

Wed, 11/16/2011 - 11:15 | Link to Comment hivekiller
hivekiller's picture

He's a member of the too big to fail club.

Wed, 11/16/2011 - 11:16 | Link to Comment badgerman67
badgerman67's picture

Not a big fan of Trump but get your facts straight before posting.  Doubt he even had much of an equity stake.  As for the debt probably not at all.  Pretty much marketing only for Trump on most deals partlcularly out of the US.  This Tyler might want to do a little due dili to confirm Trump is on the note.  

Back to your worthless discussions on gold or oligarchs.

Wed, 11/16/2011 - 13:48 | Link to Comment Commander Cody
Commander Cody's picture

I personally don't know the facts regarding this investment in Panama and I don't care what the hell they are.  I hope he got a good retainer for lending his name to the enterprise though.  Is it all show?  Oh, by the way, what are the facts for those who might care?

Wed, 11/16/2011 - 14:19 | Link to Comment tickhound
tickhound's picture

yeah, if only Trump could catch a break... And we followed Gordon Brown's priceless move a decade ago.

Wed, 11/16/2011 - 11:17 | Link to Comment vegas
vegas's picture

dtrump@you'refired.com

 

The Donald,

You're fired! Nothing personal, it's just business. By the way, love your hair.

regards,

-vegas

 

 

http://vegasxau.blogspot.com

Wed, 11/16/2011 - 11:18 | Link to Comment azzhatter
azzhatter's picture

CNBS is the station for criminals. They currently have several on staff and have had a long running affair with the Trumpster, Stanford, Corzine, and others. They did a s[pecial on that little weasel Tim Blixseth once before he went tits up. The station is a comedy including their very own assclown, Cramer

Wed, 11/16/2011 - 11:18 | Link to Comment optionswriter
optionswriter's picture

In all fairness, Trump doesn't own the property.  He merely leased out his name.  He doesn't have any financial stake in the property.  I've been there and looked at it.  So I have some firsthand knowledge of it.

Wed, 11/16/2011 - 11:20 | Link to Comment holycrooks
holycrooks's picture

hooray, trump gets it:

start a company, financing up to nose, pocket the cash, go bankcrupt, screw the stupid bond holder.

Wed, 11/16/2011 - 11:20 | Link to Comment undercover brother
undercover brother's picture

it occurs to me he's got a particular method of doing business that seems to have worked for many years.   the constant self promotion and tough talk blind his bond holders to his true lack of abililty.   clearly he's been able to enrich himself with this act.   too bad there are new suckers born every minute.

Wed, 11/16/2011 - 11:22 | Link to Comment NEOSERF
NEOSERF's picture

Trump is a genius...long ago he realized what the Fed and politicians are just coming to grips with.  That is that you come up with grand schemes with huge ROIs...get banks and investors to load up, build the thing, go bankrupt, wipe off the dept and keep a minority holding...onto the next project....if you or I tried this we would be living with the cats under the Atlantic City boardwalk but not this guy...

Wed, 11/16/2011 - 11:23 | Link to Comment Taint Boil
Taint Boil's picture

 

 

Funny how this guy screws over the system and he is burned at the stake (read some of the comments). But oh, Trump does it and he is patted on the back as a shrewed businessman.

Wed, 11/16/2011 - 11:27 | Link to Comment midgetrannyporn
midgetrannyporn's picture

#WINNING!

Wed, 11/16/2011 - 11:30 | Link to Comment prains
prains's picture

poster boy for fuck wits anonymous

Wed, 11/16/2011 - 11:30 | Link to Comment riley martini
riley martini's picture

No congressional insider theft account at risk . No bailout for you . Panama has the best beaches .

Wed, 11/16/2011 - 11:34 | Link to Comment hannah
hannah's picture

my old bond class professor absolutely hated trump and this was 25 years ago. he said trump always ended a project with a bnk or a threat of bnk to redo the deal......

Wed, 11/16/2011 - 12:42 | Link to Comment Larry Dallas
Larry Dallas's picture

When I worked at an investment bank we would never do business with Trump. To quote my boss "there wasn't an indenture that could contain him".

Wed, 11/16/2011 - 11:37 | Link to Comment Zola
Zola's picture

Dont forget that when debt is defaulted on it is THE SAVERS that lose, the responsible people who have deferred consumption in the hopes of future gratification, the BEDROCK of Capitalism. When credit is so misallocated and given in huge quantities to these clowns like trump and all these real estate "magnates" who just had access to the huge credit amounts to buy up all this real estate crap , this is sickening. Time for major changes.

Wed, 11/16/2011 - 11:42 | Link to Comment Dogfather
Dogfather's picture

Well he certainly appears to be qualified to be President.  In what country was he born?  Is Hell a country?

Wed, 11/16/2011 - 11:45 | Link to Comment kaiserhoff
kaiserhoff's picture

Not sure it's a country, but I'll bet it's less ugly than Queens.

Wed, 11/16/2011 - 12:26 | Link to Comment writingsonthewall
writingsonthewall's picture

So greece and italy cannot default - but Trump can make a habit of it?

 

Where are the calls for an end to the 'socialist hairpiece' or the demands to curtail the "excessive Trump pension" - or perhaps the calls to insist that "debtors should be FORCED to pay" and when will we see an Italian dictator imposed on Trump to extract the wealth for his creditors?

 

Either Capitalism works for all - or it doesn't work.

 

People should consider the differences between these two defaults - and why the Trump is allowed to walk away but nations cannot.

 

We will be handing 'Trump islands' over to the creditor? or will this all have been pre-seperated into neat little limited losses for Trump?

Just like that awful American show I saw the other day - these 'rich' plead poverty - but they have no idea what it is.

Wed, 11/16/2011 - 12:41 | Link to Comment NotApplicable
NotApplicable's picture

Why? Because a sovereign default would undermine confidence in the criminals in charge, leading to widespread chaos (something they'd rather dish out piecemeal over time in certain places).

It's all about maintaining the facade. Eventually, things will get so bad, that people will demand a different facade, and (un)fortunately??? they will get it.

As for Trump, anyone who still "invests" with him, gets what they deserve.

Wed, 11/16/2011 - 12:39 | Link to Comment Ted Baker
Ted Baker's picture

YEAH THE SUCKER WHO ALSO BOUGHT DEAD BANKRUPT BANK OF AMERICA SHARES

Wed, 11/16/2011 - 12:53 | Link to Comment Shizzmoney
Shizzmoney's picture

Lawrence O'Donnell called out this fraud on his show a few weeks ago, he's nothing more than a actor who plays a millionaire on television.

http://www.youtube.com/watch?v=6RPX5EIVOTs

(I'd bang the shit out of his daughter, though.  But I'm obv not in her price range.  Of course, she's married to some meritocratic NYSE banker.)

Wed, 11/16/2011 - 13:17 | Link to Comment Smokey1
Smokey1's picture

In business matters, Donald Trump's confidence exceeds his ability in every conceivable way.

 

The Donald eats shit.

Wed, 11/16/2011 - 13:54 | Link to Comment mliu_01
mliu_01's picture

No worry, Trump will come out telling people his is a Billionair.

Oh can someone do a hitler hear trump file bk again piece? LOL that should be easy to do and should be funny like hell.

 

BTW, donald should start a new reality show "Sleeping with stars". I bet he will make billions of it. Totally will beat girls gone wild.

Wed, 11/16/2011 - 13:40 | Link to Comment mliu_01
mliu_01's picture

No worry, Trump will come out telling people his is a Billionair.

Oh can someone do a hitler hear trump file bk again piece? LOL that should be easy to do and should be funny like hell.

Wed, 11/16/2011 - 14:46 | Link to Comment Charles Bishop ...
Charles Bishop Weyland's picture

 fascinating.

 "At least THEY don't screw each other over', to quote one of my more switched-on former employees...

 <iframe width="560" height="315" src="http://www.youtube.com/embed/2s1MspmfEwg" frameborder="0" allowfullscreen></iframe>

  I wonder what ever happened to that girl. She had some fairly strong views on bad investments--for a new hire.

Wed, 11/16/2011 - 14:50 | Link to Comment JW n FL
JW n FL's picture

 

 

It is only one portion of the deal, the latest.. if memory serves and it is Trump only in name..

 

Trump sold his name for branding purposes.. as much as he is hated here in America.. the Mexican's / other.. all Love him.. he is just thier style!

 

So? who wants to buy some defaulting paper in Panama @ 14%??? LULZ!!

 

VIVA EL Trump"O"!

Wed, 11/16/2011 - 14:53 | Link to Comment omi
omi's picture

With little equity in his businesses, I'm sure Mr. Trump makes most of his money shorting the bonds his companies emit.

Do NOT follow this link or you will be banned from the site!