CDL doesn't know what he is talking about. He believes the Trump Myth about Trump's real estate acumen. Trump is toxic. "Everything Trump Touches Dies."
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http://en.wikipedia.org/wiki/Lucky_Loser_(book)
Lucky Loser: How Donald Trump Squandered His Father’s Fortune and Created The Illusion of Success is a nonfiction book by New York Times investigative journalists Susanne Craig and Russ Buettner. It was published on September 17, 2024 by Penguin Random House LLC.
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Donald's first project was actually started by his father, Fred. Fred knew all the right people and how to make the deals. Starting in 1976, Fred negotiated the tax abatements and other deals with NYC, NYS, Hyatt Hotels, and other concerned parties to renovate an old NYC hotel into the Hyatt Grand Central Hotel. Donald "took over" (at least in name) in 1978. Fred Trump and Hyatt management made the project succeed.
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Trump's next project was the Trump Tower. Trump made and broke promises. He hired illegal Polish immigrants to man the construction crews ... and then he didn't pay them! (Trump was sued and lost.) There was a shortage of concrete in NY at that time. No one could get concrete in NYC unless they were willing to make deals with the Mafia. No problem for Donald: money laundering, etc.. Upon completion, Trump advertised the 58-story building as a 68-story building. Real estate analysts noted that the pricey condos were finished with CRAPPY materials and CRAPPY appliances.
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DJT's next real estate project was the Trump Plaza. He overpaid for the old Plaza Hotel and he admitted to it in interviews. He then overpaid to renovate it into the Trump Plaza. "In 1988, Trump acquired the Plaza Hotel with a loan from a consortium of sixteen banks. The hotel filed for bankruptcy protection in 1992, and a reorganization plan was approved a month later, with the banks taking control of the property. In 1995, Trump defaulted on over $3 billion of bank loans, and the lenders seized the Plaza Hotel along with most of his other properties in a "vast and humiliating restructuring" that allowed Trump to avoid personal bankruptcy. The lead bank's attorney said of the banks' decision that they "all agreed that he'd be better alive than dead." ..."
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"In 1996, Trump acquired and renovated the mostly vacant 71-story skyscraper at 40 Wall Street, later rebranded as the Trump Building." He has been losing money on it for quite a while DESPITE fraudulent advertising about occupancy rates, etc.. Trump's lease with the property owners has a HUGE increase in fees starting in a few years (if Trump doesn't lose his lease before then!). The building is currently losing a lot of money and Trump has a $118M loan due in July 2025. If he can't refinance, he will probably lose the building.
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"Trump's last major construction project was the 92-story mixed-use Trump International Hotel and Tower (Chicago) which opened in 2008. In 2024, the New York Times and ProPublica reported that the Internal Revenue Service was investigating whether Trump had twice written off losses incurred through construction cost overruns and lagging sales of residential units in the building Trump had declared to be worthless on his 2008 tax return." Just to clarify: The Chicago tower opened in 2008. Trump paid too much and borrowed too much. He was in so much debt on the building that HE DECLARED IS WORTHLESS that same year (2008).
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CDL limited his comment to "real estate deals" so we'll leave out Trump's FAILED Casinos, Airline, Steaks, Vodka, Charity, University, Mortgage Company, Magazine, Numerous golf resorts that LOSE money ... EVERYTHING Trump touches dies.
Posted By: coeur-de-lion
Re: He probably DID miss school that . . . .
day because he was out with his dad looking for real estate deals. Knowing about hurricanes instead of real estate is not worth much in the way of a successful career.
WAKE UP!! Wake up to Trump's LIES and DECEPTIONS!! You don't need to attend Trump University to see that Trump is a FRAUD and a LUCKY LOSER.