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Deadbeat Donald Donald J. Trump Is A Deadbeat
If he is as rich as he claims then why is he both the king of debt and a deadbeat? If Trump is as rich as he claims he would not be the king of debt. If Trump is as rich as he claims he would not be a deadbeat. Now there could be reason that Trump is the king of debt and a deadbeat. It could be that he is just cheap. It could be he is not as rich as he claims. It could be he is an evil greedy bastard. It could be he is a conman. It could be he is just a crook. On the other hand, it could be all of the above. Read more to find out the truth about Donald J. Trump.
By Leslie Newell PeacockThe president’s reputation as a deadbeat precedes him as he makes his visit today to El Paso: His campaign has yet to pay more than half a million dollars in expenses incurred from a February campaign rally there. According to the Texas Tribune, the president has not paid his outstanding bill of $569,204.63 for police and public safety services the city rendered the campaign. “The city staff have followed the process and procedures as it relates to any invoicing that we provide, and we will continue to do so accordingly as per city and state policies,” [communications director Laura] Cruz-Acosta said. She said that Trump owed an initial fee of $470,417.05 but that the city tacked on a 21% one-time late fee in June — 30 days after the campaign failed to pay the initial amount owed. … “Our resources are really strained right now,” said Alexsandra Annello, a member of the El Paso City Council. “Our police and fire are exhausted, our health department had for three days straight been working with the reunification of families. As you see from the bill, these are the services required for a presidential visit. In addition to financial costs, our community and resources are already strained and do not need this extra burden.”
Ten city governments from Arizona to Pennsylvania say the president’s political committee has yet to pay hundreds of thousands in security bills.By Dave LevinthalThis story was originally published by The Center for Public Integrity, a nonprofit, nonpartisan investigative news organization in Washington, D.C. WASHINGTON — "Do we love law enforcement or what?" President Donald Trump asked a cheering crowd during his "Make America Great Again" political rally Oct. 12 in Lebanon, Ohio. "Thank you, law enforcement!" the president later told officers, who he called "heroes." But when Lebanon City Hall sent Trump's campaign a $16,191 invoice for police and other public safety costs associated with his event, Trump didn't respond. Trump's campaign likewise ignored Lebanon officials' follow-up reminders to cover the sum — one rich enough to fund the entire police force for nearly two days in this modest city of 21,000, between Dayton and Cincinnati. The bill remains unpaid. "There's a lot of benefit when a president comes here: economic benefits, more visibility for our community," Lebanon Mayor Amy Brewer said. "But I would hope and believe the Trump campaign would pay its bills. It's our taxpayer dollars." The red ink Trump poured on Lebanon's thin blue line is no anomaly. At least nine other city governments — from Mesa, Arizona, to Erie, Pennsylvania — are still waiting for Trump to pay public safety-related invoices they've sent his presidential campaign committee in connection with his political rallies, according to interviews with local officials and municipal records obtained by the Center for Public Integrity. Some invoices are three years old. In all, city governments say Trump's campaign owes them at least $841,219. Must Trump pay? That depends on who you ask. The cities are adamant Trump should pay up. But in many of these cases, there are no signed contracts between the municipal governments and the Trump campaign. The cities dispatched police officers to secure Trump's events because they believe public safety required it — and the U.S. Secret Service asked for it. Reached for comment, Trump campaign Director of Operations Sean Dollman referred questions to the campaign's communications staff, which did not respond to numerous requests.
by Sam DonaldsonThe New York Times story that disclosed that in ten years to 1994, Donald J Trump lost over a billion dollars may have been a shock to some people but not to me. I didn’t know the exact figure but twenty nine years ago, with the help of a Forbes magazine article and Trump himself I knew this self-proclaimed billionaire was blowing smoke and was on track to lose every penny he had to his creditors. In the Spring of 1990, the Forbes business magazine published an article on what they had learned from sources about Trump’s financial situation. It caught our eye on the ABC network program Prime Time Live which I co-anchored with Diane Sawyer. I called Trump and asked to interview him about his finances. He said come on as long as I agreed not to ask questions about his marital difficulties with his first wife Ivana which was then spread all over the NYC papers. I readily made the deal. On Thursday morning ,May 3, 1990, we taped an interview with Trump in his office and that night aired what he said about the Forbes article. We were both younger and looked better and he was able to finish his sentences without wandering off into irrelevances. But the Trump Style of denying facts, spinning a false picture, stroking his own ego and attacking the message (me) was already in full bloom. Watch for yourself. Here is the link. Now, let’s look at what happened. -No one offered more than he paid for his airline and in fact Trump defaulted on his 380 million airline loan and in September of 1990, a consortium of banks led by Citibank assumed ownership. -In 1992, Trump declared Pre-Packaged Bankruptcy/Default on the Plaza Hotel. He had paid 407 million of borrowed money to buy the hotel and had put in 25 million more for renovations. His trophy the Plaza was sold in 1995 for 325-million. -The person who was going to buy the Princess in the next week after our interview for 115 million never showed up (didn’t exist?). Trump had paid 29 million for the boat and had renovated it for an additional 9 million. He sold this trophy in September of 1990, for 20 million -As for the 835-million Trump had borrowed to build the Taj Mahal hotel/casino in Atlantic City, Forbes magazine was correct. He couldn’t service the debt and arranged a Pre-packaged bankruptcy In 1991. And that would have “cooked him” for good except for the fact at this point Carl Icahn, a real billionaire friend, agreed to assume the Taj’s debt and allowed Trump to keep his name on the property under a Management agreement. The management didn’t go all that well – in 2015, the U S Treasury financial Crimes Department fined Trump 10-million for “Money laundering.” Since his failures in the early 1990s, the New York banks have refused to lend Trump money. But he got it somewhere in order to keep going in his wily pursuit of conning the rubes, in the process destroying others financial well being through a variety of schemes and refusal to pay his debts even to workmen and jobbers with whom he did business. We may learn from whom and how much money he has borrowed since 1994, on the day we see Trump’s tax rerutrns.
By Gavin Finch, Steven Arons and Shahien NasiripourTop Deutsche Bank AG executives were so concerned after the 2016 U.S. election that the Trump Organization might default on about $340 million of loans while Donald Trump was in office that they discussed extending repayment dates until after the end of a potential second term in 2025, according to people with knowledge of the discussions. Members of the bank’s management board, including then Chief Executive Officer John Cryan, were leery of the public relations disaster they would face if they went after the assets of a sitting president, said the people, who asked for anonymity because the discussions were private. The discussions were about risks to the bank’s reputation and did not relate to any heightened concerns about the creditworthiness of Trump or his company, the people said. The bank ultimately decided against restructuring the loans to the Trump Organization, which come due in 2023 and 2024, and chose instead not to do any new business with Trump while he is president, one of the people said. A spokesman for Deutsche Bank declined to comment, and the people with knowledge of the discussions said they didn’t know why the bank ultimately decided not to extend the loans. The White House didn’t respond to requests for comment. “This story is complete nonsense,” Eric Trump, a son of the president and an executive vice president of the Trump Organization, said in an email. “We are one of the most under-leveraged real estate companies in the country. Virtually all of our assets are owned free and clear, and the very few that do have mortgages are a small fraction relative to the value of the asset. These are traditional loans, no different than any other real estate developer would carry as part of a comparable portfolio.” A spokesman for Deutsche Bank declined to comment, and the people with knowledge of the discussions said they didn’t know why the bank ultimately decided not to extend the loans. The White House didn’t respond to requests for comment. “This story is complete nonsense,” Eric Trump, a son of the president and an executive vice president of the Trump Organization, said in an email. “We are one of the most under-leveraged real estate companies in the country. Virtually all of our assets are owned free and clear, and the very few that do have mortgages are a small fraction relative to the value of the asset. These are traditional loans, no different than any other real estate developer would carry as part of a comparable portfolio.” The head of the retail bank at the time, which includes the wealth management unit, was Christian Sewing, who replaced Cryan as CEO in April. Sewing initially favored approving the loan application, but he submitted it to Deutsche Bank’s reputational risk committee, which recommended turning it down, according to a person familiar with the matter. Sewing supported the decision, the person said. The Trump Organization said it never sought such a loan. The outstanding Deutsche Bank debt includes $125 million for the Trump National Doral Miami resort, which matures in 2023, according to federal records and mortgage documents. The company also owes $170 million for the Trump International Hotel in Washington and has another loan against a Chicago tower, both of which come due in 2024.
By Steve BenenLast summer, as Donald Trump was climbing to the top of Republican presidential polling, he told NBC News’ Chuck Todd about his virtues as a candidate. “I don’t have pollsters,” Trump boasted. “I don’t want to waste money on pollsters.” Less than a year later, the GOP candidate made a rather striking shift in the opposite direction, hiring Tony Fabrizio, a veteran Republican pollster with extensive experience. But more than a year after Trump said he didn’t want to pay for a pollster, the Washington Post reports that the presidential hopeful may have meant that literally. Donald Trump’s hiring of pollster Tony Fabrizio in May was viewed as a sign that the real estate mogul was finally bringing seasoned operatives into his insurgent operation. But the Republican presidential nominee appears to have taken issue with some of the services provided by the veteran GOP strategist, who has advised candidates from 1996 GOP nominee Bob Dole to Florida Gov. Rick Scott. The Trump campaign’s latest Federal Election Commission report shows that it is disputing nearly $767,000 that Fabrizio’s firm says it is still owed for polling. If this problem – Trump hires someone to do a job, then decides he doesn’t want to pay for the completed services – sounds at all familiar, it’s not your imagination. We talked a few months ago about Trump’s bad habit of hiring working-class Americans – mechanics, plumbers, painters, waiters, dishwashers, etc. – who sent Trump bills for completed work, only to have the New York Republican refuse to pay for services rendered. USA Today reported, “The actions in total paint a portrait of Trump’s sprawling organization frequently failing to pay small businesses and individuals, then sometimes tying them up in court and other negotiations for years. In some cases, the Trump teams financially overpower and outlast much smaller opponents, draining their resources. Some just give up the fight, or settle for less; some have ended up in bankruptcy or out of business altogether.” Soon after, the Wall Street Journal published a related report, documenting the same problem. In some instances, Trump-owned businesses felt they had leverage over small businesses, so when bills came, Trump’s enterprise would offer part of what was owed – take it or leave it – knowing that the small businesses couldn’t afford to get tied up in a lengthy court fight. Though this angle to Trump’s record never seemed to capture the political world’s attention in earnest – some Trump critics started calling him “Deadbeat Donald,” though it never caught on – the stories continued to pile up. Remember the guy who sold Trump $100,000 worth of pianos? The Republican candidate’s track record came up briefly in the first presidential debate between Trump and Hillary Clinton.
Among those who say billionaire didn't pay: dishwashers, painters, waitersBy Steve Reilly, USA TODAYDuring the Atlantic City casino boom in the 1980s, Philadelphia cabinet-builder Edward Friel Jr. landed a $400,000 contract to build the bases for slot machines, registration desks, bars and other cabinets at Harrah's at Trump Plaza. The family cabinetry business, founded in the 1940s by Edward’s father, finished its work in 1984 and submitted its final bill to the general contractor for the Trump Organization, the resort’s builder. Edward’s son, Paul, who was the firm’s accountant, still remembers the amount of that bill more than 30 years later: $83,600. The reason: the money never came. “That began the demise of the Edward J. Friel Company… which has been around since my grandfather,” he said. Donald Trump often portrays himself as a savior of the working class who will "protect your job." But a USA TODAY NETWORK analysis found he has been involved in more than 3,500 lawsuits over the past three decades — and a large number of those involve ordinary Americans, like the Friels, who say Trump or his companies have refused to pay them. At least 60 lawsuits, along with hundreds of liens, judgments, and other government filings reviewed by the USA TODAY NETWORK, document people who have accused Trump and his businesses of failing to pay them for their work. Among them: a dishwasher in Florida. A glass company in New Jersey. A carpet company. A plumber. Painters. Forty-eight waiters. Dozens of bartenders and other hourly workers at his resorts and clubs, coast to coast. Real estate brokers who sold his properties. And, ironically, several law firms that once represented him in these suits and others. Trump’s companies have also been cited for 24 violations of the Fair Labor Standards Act since 2005 for failing to pay overtime or minimum wage, according to U.S. Department of Labor data. That includes 21 citations against the defunct Trump Plaza in Atlantic City and three against the also out-of-business Trump Mortgage LLC in New York. Both cases were resolved by the companies agreeing to pay back wages.
By Steve BenenThe front page of USA Today’s print edition features an all-caps, above-the-fold headline that Republicans probably didn’t want to see: “Trump’s Trail Of Unpaid Bills.” And while the headline is rough, the article hits like a sledgehammer. During the Atlantic City casino boom in the 1980s, Philadelphia cabinet-builder Edward Friel Jr. landed a $400,000 contract to build the bases for slot machines, registration desks, bars and other cabinets at Harrah’s at Trump Plaza. The family cabinetry business, founded in the 1940s by Edward’s father, finished its work in 1984 and submitted its final bill to the general contractor for the Trump Organization, the resort’s builder. Edward’s son, Paul, who was the firm’s accountant, still remembers the amount of that bill more than 30 years later: $83,600. The reason: the money never came. “That began the demise of the Edward J. Friel Company… which has been around since my grandfather,” he said. USA Today recently broke some news, noting that Trump and his business enterprises have been involved in “at least 3,500 legal actions in federal and state courts during the past three decades.” But this new report goes one step further, noting much of the litigation involves ordinary Americans – mechanics, plumbers, painters, waiters, dishwashers, etc. – who sent Trump bills for completed work, and the New York Republican simply refused to pay. The new report added, “The actions in total paint a portrait of Trump’s sprawling organization frequently failing to pay small businesses and individuals, then sometimes tying them up in court and other negotiations for years. In some cases, the Trump teams financially overpower and outlast much smaller opponents, draining their resources. Some just give up the fight, or settle for less; some have ended up in bankruptcy or out of business altogether.” Adding insult to injury, the Wall Street Journal published a related report overnight, documenting the same problem. In some instances, Trump-owned businesses felt they had leverage over small businesses, so when bills came, Trump’s enterprise would offer part of what was owed – take it or leave it – knowing that the small businesses couldn’t afford to get tied up in a lengthy court fight.
MSNBC - Rachel Maddow reviews Donald Trump's history of not paying his debts and notes how that is a contributing factor as he is reportedly facing rejection from outside law firms as he seeks to bolster his defense in the face of mounting scandals.
Lessons From Trump’s Near-Broke CampaignBy Dmitri MehlhornOn Saturday, Donald Trump issued an “emergency” appeal seeking $100,000 for his campaign “to help get our ads on the air.” This was odd for two reasons. First, according to his own early campaign ads, the central premise of Trump’s campaign was that he would self-fund. Second, in his disclosure forms, Trump claimed that his total net worth is ten billion dollars. In other words, Trump would have to spend precisely one one-thousandth of one percent of his net worth in order to cover the cost to air these “emergency” commercials. If Trump were telling the truth about his wealth, $100,000 for him would be about 2 or 3 dollars for an average American. So, Trump has lied about his wealth. As Forbes recently wrote, “The Occam’s razor explanation is that he’s not worth $10 billion.” This is not a surprise to those who know Trump well. Just last year, Forbes described Trump’s claims of riches as “a whopper” of a lie. Indeed, many speculate that the reason Trump is so adamant about refusing to release his tax returns is that they may reveal he doesn’t have as much money has he’s claimed. But what do these financial problems say about Trump as a candidate?
“He’s a deadbeat.”By Max RosenthalDuring his decades in the real estate world, Donald Trump famously shortchanged many small businesses on the money he owed them. The list includes companies that worked on Trump’s properties or supplied him with chandeliers, pianos, marble, and other luxury touches. But Trump also tried to underpay the very same lawyers who helped him save money, and some ended up suing their former client. As our own Hannah Levintova reported in March, the Atlantic City law firm of Levine Staller saved one of Trump’s companies tens of millions of dollars in taxes—and then sued the company, Trump Entertainment, after the business tried to pay Levine Staller $1.25 million less than the firm was owed. In 2012, Levine Staller won a settlement that returned $35 million in overpaid taxes and cut $15 million from the company’s future liabilities, leading to a total savings of $50 million for the corporation. Trump agreed to pay $7.25 million to the law firm in legal fees, but then only paid Levine Staller $6 million before trying to claim the rest as unsecured debt in ongoing bankruptcy proceedings. In response, Levine Staller sued its former client, Trump Entertainment, and in 2014, a judge rejected Trump Entertainment’s request to be absolved of this debt and told the company to pay up. It wasn’t an isolated case. Trump underpaid at least four law firms or lawyers who worked for him, according to various news outlets that looked into Trump’s history of cheating his contractors. One of them, Morrison Cohen LLP of New York City, had represented Trump in a lawsuit against a construction contractor that Trump claimed had overcharged him for work on a golf course. According to USA Today, Trump sued Morrison Cohen for using the case to help promote its work, and the firm countersued for almost $500,000 in unpaid bills. The case was settled in 2009.
The Donald has rocketed to the top of Republican presidential polls. But with prominence comes scrutiny of his business acumen. He's not going to like it.By Joshua GreenEverybody knows that Donald Trump is a showman, and that's helped rocket him to a level of political celebrity most people wouldn't have imagined. But it looks to me like Trump is about to experience the downside of sudden political fame. That downside is scrutiny. Trump doesn't seem to mind--indeed, seems rather to enjoy--the scrutiny of his personal life, the models, etc. But he's awfully thin-skinned about his business affairs, and that's where things are heading next. Last night, NBC News did a damning expose of Trump's record, which is replete with bankruptcies, lawsuits, and aggrieved former investors. But that only scratched the surface. Trump's hilarious, bombastic dismissal of Mitt Romney's business career, coupled with his heightened political profile and rampant egotism, suddenly seems to be rubbing Wall Street folks the wrong way. Financiers who chuckled about Trump, have become peeved and willing to share their thoughts on his business acumen. Earlier this evening, I had the opportunity to get the unvarnished thoughts of a former Deutsche Bank employee familiar with Trump from this $640-million deal gone awry on the Trump International Hotel & Tower in Chicago. Trump was sued to collect on a $40-million personal guarantee that was part of the deal. Suffice it to say, the banker held a dim view of the Donald. "[The Chicago deal] was pretty minor given all the other things going on at the time. Real estate developers do default from time to time," he said. "But this guy has been doing it for 20 years, failing. Remember the Trump Shuttle? That's why he'll never run. His finances just won't hold up to scrutiny. It's pretty well known in financial circles that this guy is a deadbeat." I expect we'll be hearing a lot more along these lines. Since Trump's business reputation is the thing he seems to prize above all else, I doubt he'll enjoy this, which is why I don't think he'll stick around for the long haul, regardless of what the poll numbers say. For a taste of what's coming, here's the NBC News report:
By David FergusonHundreds of former employees and business associates say that former reality TV star and presumptive Republican presidential nominee Donald Trump is a grifter and a deadbeat who never paid them for their work. According to USA Today, Trump has left a trail of broken promises and debts in his wake over the years as a result of his long string of failed businesses, multiple bankruptcies and a cavalier attitude regarding his obligations to others. “Donald Trump often portrays himself as a savior of the working class who will ‘protect your job.'” said the newspaper. “But a USA TODAY NETWORK analysis found he has been involved in more than 3,500 lawsuits over the past three decades — and a large number of those involve ordinary Americans who say Trump or his companies have refused to pay them.” The article tells the story of people like Philadelphia cabinet-builder Edward Friel Jr., who performed $83,600 worth of work building “bases for slot machines, registration desks, bars and other cabinets at Harrah’s at Trump Plaza.” Friel submitted an invoice in 1984 and it was never paid. The missing revenue crippled the family business and ultimately resulted in the end of the Edward J. Friel Company, destroying what the Friel family took generations to build. USA Today said that more than 60 lawsuits and a blizzard of judgments, liens and other filings are from a wide array of Trump employees who are all waiting to be paid for their work.
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Looking for more information on Donald J. Trump (aka Don the Con, aka Don the Snake, aka Two face Donnie, aka The Don, aka Criminal Don). Here you can find information on lawsuits against Trump, Trump’s time is the white house, Trump Administration scandals and corruption, Trump before the white house, Trump Impeachment Inquiry, Trump Russia Affair, Trump-Ukraine Affair, how Trump runs his properties and more. Find out if Trump is filling his pockets with foreign money and your tax dollars. Find out if Trump is a good a businessman or a bad businessman and how viral, nasty and disgusting Trump properties are. Find out if Trump is a crook and/or a conman. Find out if Trump lies about his lies and more.The more you know the better informed you will be to make your own determination on the real Donald J. Trump (aka Don the Con, aka Don the Snake, aka Two face Donnie, aka The Don, aka Criminal Don). Find out all you can about Donald J. Trump, for some you may find he is not the man you thought he was, for others you may be proven right, for others you may find he is far worse than you thought he was.
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