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Deadbeat Donald Donald J. Trump Is A Deadbeat

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. #Trump, #DeadbeatTrump
The former president loves leaving promises unfulfilled and bills unpaid.
New Republic

Donald Trump has a long history of failing to deliver on promises, and not just when it comes to politics: The man seems incapable of picking up the tab.

After pleading not guilty to 37 criminal charges for mishandling classified documents, Trump stopped at the popular Miami restaurant Versailles to meet with supporters. During his visit, he could be heard shouting, “Food for everyone!” But he left after just 10 minutes—not long enough for anyone to order anything—without paying a single bill, the Miami New Times reported.

You’d be forgiven for assuming that Trump was just a little pressed. He was just arrested for federal crimes! He might need some alone time to decompress.

Nope.

Trump is notorious for leaving a trail of unpaid bills wherever he goes. Hundreds of people have accused him of failing to pay them for services, ranging from a glass company in New Jersey to workers at his resorts, real estate brokers, and even law firms who represented him in suits for unpaid bills.
Robert Costello represented Giuliani and Bannon. Neither paid him.

Working as Donald Trump’s lawyer, or just being his lawyer’s lawyer, is a tough gig. The former president’s tight-fisted ways, not to mention his legal problems, are trickling down through Trumpworld’s legal ecosystem.

On Tuesday, Rudy Giuliani’s lawyer, Robert Costello, sued the former New York mayor for more than $1.3 million in allegedly unpaid legal fees dating back to 2019. That lawsuit, Costello says, is a consequence of Trump’s own refusal to pay Giuliani for years of work as Trump’s personal attorney.

Lawyers for Trump have landed in legal jeopardy due to his lies. They’ve been forced to testify against him, sanctioned, fined, stripped of law licenses, sued, and indicted. But none are in as much trouble as Rudy.

Giuliani has pleaded not guilty to 13 racketeering and conspiracy charges in Georgia for alleged interference in that state’s election. He was also found liable for defaming two Georgia election workers and will likely be ordered to pay them damages. He’s an unindicted co-conspirator in the US Justice Department’s criminal case against Trump related to January 6. His law license is suspended in New York, and he could be disbarred in DC. A former assistant says in a lawsuit that Giuliani raped her. Former White House aide Cassidy Hutchinson, in a new book, claims he groped her on January 6. An FBI agent says a bureau investigation found Giuliani “may have been compromised” by Russian intelligence while he assisted Trump’s 2020 campaign.
Brian Schwartz

Several of the attorneys who spearheaded President Donald Trump’s frenzied effort to overturn the results of the 2020 election tried, and failed, to collect payment for the work they did for Trump’s political operation, according to testimony to congressional investigators and Federal Election Commission records. This is despite the fact that their lawsuits and false claims of election interference helped the Trump campaign and allied committees raise $250 million in the weeks following the November vote, the House select committee investigating the Jan. 6 Capitol riot said in its final report.

Among them was Trump’s closest ally, former New York Mayor Rudy Giuliani. Trump and Giuliani had a handshake agreement that Giuliani and his team would get paid by the Trump political operation for their post-election work, according to Timothy Parlatore, an attorney for longtime Giuliani ally Bernard Kerik.

But the Trump campaign and its affiliated committees ultimately did not honor that pledge, according to campaign finance records. The records show that Giuliani’s companies were only reimbursed for travel and not the $20,000 a day he requested to be paid.
Max J. Rosenthal

During 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.
Donald Trump casts himself as a protector of workers and jobs, but a USA TODAY NETWORK investigation found hundreds of people – carpenters, dishwashers, painters, even his own lawyers – who say he didn’t pay them for their work.
Steve Reilly | USA TODAY

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.

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.
Story by Tom Boggioni

The mayor of Erie, Pennsylvania is making an all-out effort to get Donald Trump to pay up tens of thousands of dollars he has refused to cough up for almost five years before the former president returns this weekend for another rally.

With Trump headed to Erie on Saturday as part of his campaign for the 2024 Republican Party presidential nomination, Mayor Joe Schember (D) told the Erie Times-News that pleas for the $35,000 owed have gone unheeded and city administrators are looking at ways to get him to pay before he hits town in less than a week.

According to the report, the $35,000 is for expenses incurred when the city hosted an Oct. 10, 2018, Make America Great Again at Erie Insurance Arena, which went to pay city workers assigned to the event, as well as police officers who worked overtime.
Story by Tom Boggioni

During a report on U.S. District Court for the Southern District of Florida Judge Aileen Cannon's first rulings as she begins to oversee the upcoming prosecution of Donald Trump on 37-counts filed by the Department of Justice, CNN's Jessica Schneider reported that the former president still has not filled out his legal team due to questions about whether they will get paid and if he'll heed their advice.

Speaking with host John Berman, Schneider reported that the controversial Cannon has started the ball rolling by ordering the former president's current legal team to work with the DOJ's litigation security group on approval to view sensitive government documents central to the government's case.
By Alex Henderson | AlterNet

In February 2019, then-President Donald Trump held a MAGA rally at the El Paso County Coliseum. El Paso is one of the Democratic strongholds in Republican-leaning Texas — former Rep. Beto O’Rourke launched his political career in El Paso — and city officials have brought the $570,000 cost of that rally to the attention of Trump and his GOP allies. Yet in October 2022, the City of El Paso, according to the Houston Chronicle, has yet to be reimbursed for that money.

The Chronicle’s Edward McKinley, in an article published on October 22, explains, “Shortly after the Walmart mass shooting that left 22 dead in El Paso, Trump scheduled a large political rally in the city to coincide with an event hosted by then-presidential candidate Beto O'Rourke. But while O'Rourke paid back the city for the security it provided, Trump didn't pay his tab. The billionaire former president, whose political war chest boasts well over $100,000,000, owes the city $569,204 for transportation, security and a 21-percent late fee. In 2020, the city hired a law firm to try to collect, the city spokeswoman said, but so far, $0 has been collected.”
By Sarah K. Burris | Raw Story

Former President Donald Trump is scheduled to hold a campaign rally in Memphis, but the city police don't want anything to do with it. According to Action News 5, Trump's past events that required local security resulted in hefty bills for the Trump campaign. Trump still owes El Paso $570,000 for a 2019 rally. The Republican Party wanted to move the 2020 convention to Jacksonville, Florida, during the pandemic, but that got canceled when security couldn't work with half of the budget cops were promised. As of July 2020, Trump had over $2 million in unpaid security bills that stacked up from Pennsylvania to New Mexico. The Albuquerque Journal revealed in Oct. 2020, that their city sent Trump an invoice for $211,175.94 for barricades and overtime for officers to be on hand for the event. Trump also refused to pay the city of Minneapolis after stacking up over $530,000 in security costs for a 2019 rally. The mayor there was furious and fought back at the time by blocking any further use of city-owned properties until the bill was paid. Trump threatened to sue the mayor. After a back and forth, the Target Center gave an in-kind donation of $100,000 for the costs of the 2019 rally. That, however, presents a problem because $100,000 in corporate funds is a violation of campaign finance law. It's unclear if anyone has ever filed that complaint because it likely isn't included on Trump's campaign finance documents as an in-kind contribution.
The case is just one of many lingering court battles the campaign has launched but not completed with two weeks left before Election Day.
By ANITA KUMAR

Donald Trump’s campaign wants Omarosa Manigault Newman to pay up for penning an incriminating tell-all book about the president in 2018. But it’s the Trump campaign that hasn’t paid its bills. The delinquent $52,000 payment — revealed in a previously unreported letter dated Oct. 14 and obtained by POLITICO — is just one example of how the Trump campaign is handling the flurry of legal actions it has taken to both protect the president and attack his enemies in the final weeks of the campaign. In some instances, the campaign is pressing ahead. In others, it has let the cases go dormant. The through line, however, is that the campaign has started a lot of fights in court, yet is not close to resolving them with just two weeks left until Election Day.

In the action against Manigault Newman, the campaign may simply let the case dissolve. In 2018, the Trump campaign filed an arbitration case against the former West Wing aide over her book, which rocked the White House with stories of Trump using lewd, sexist and racist language. At one point, Trump’s attorneys suggested Newman pay for a nearly $1 million ad campaign “to counteract the long-term adverse effects” of her remarks. Yet the campaign has thus far stiffed the arbitrator assigned to mediate the case, according to a letter sent to the parties in the case. If Trump’s attorneys don’t pay the outstanding bill by next week, the case could be tossed out. The dispute over Manigault Newman’s book is far from the only legal thread left dangling for the Trump campaign. more...
Trump refuses to pay back cities for police, public services

U.S. Rep. Bill Pascrell, Jr. (D-NJ-09) today wrote to Federal Election Commission Chairwoman Ellen Weintraub calling on the FEC to open an investigation of the Trump presidential campaign for its repeated refusal to reimburse host cities for costs incurred during Donald Trump’s campaign rallies and failure to report these debts to the FEC as is mandated by law. Pascrell’s letter comes on the heels of a Washington Post report documenting that the Trump campaign has over $1 million in unpaid bills to cities for police and other resources.

“I write to ask the Federal Election Commission (FEC) immediately open an investigation into Donald Trump’s presidential campaign debts to local law enforcement for public safety and protection services provided at campaign events,” Pascrell writes. Donald Trump’s presidential campaign has at least 10 open and unpaid invoices from local law enforcement and fire services dating back to 2016. These outstanding invoices total more than $841,000 for work, overtime, and protective services.  This burden has fallen mostly on small to mid-sized departments.

When a President or presidential candidate visits a city or municipality for a political event, the U.S. Secret Service often requests assistance from local law enforcement to ensure the safety of all attendees of the event. Traditionally, campaigns agree to reimburse local law enforcement for public safety and protective services required by the Secret Service. Trump has refused to abide by that tradition in stiffing cities hosting his ubiquitous rallies. more...
By Ewan Palmer

With just weeks until his presidency ends, several cities across the U.S. are still owed payments from Donald Trump's campaign for rallies he held, totaling hundreds of thousands of dollars.

The Texas city of El Paso said this week that they will be hiring outside legal counsel as part of their fight to obtain more than $500,000 from Trump's team to cover the security and other costs from a rally held there in February 2019. The outstanding debt includes $470,000 in additional services provided by the local police and fire departments, as well as an additional $99,000 in late fees. Last year, the Center for Public Integrity included El Paso among a list of 10 cities still waiting for payment from the Trump campaign team for rallies as far back as 2016. A number of city officials have now confirmed to Newsweek that they have still not received the money that they invoiced, with some accepting that it may never arrive.
Mike Kelly | NorthJersey.com

Steve Jenkins says he does not plan to show up at President Donald Trump’s rally next week in Wildwood. But if he made the trek from his home in West Chester, Pennsylvania, Jenkins would bring a bill — for the tens of thousands of dollars he says Trump still owes him. Of all the troubling accusations that have followed Trump into the White House, there is little talk these days of the trail of unpaid bills he left behind from his days as an Atlantic City casino mogul. Trump obviously faces far more formidable problems now, including his impeachment trial in the U.S. Senate. So it’s highly unlikely that he will mention his unpaid bills from Atlantic City when he takes the stage Tuesday night at the Wildwoods Convention Center. But for the carpenters, electricians, plumbers, window installers and other contractors who built Trump’s Taj Mahal casino in Atlantic City three decades ago, the wounds from not being paid still fester. “It’s terrible,” said Jenkins, who runs Triad Building Specialties. “I can’t stand Trump. I think he’s nothing but a snake oil salesman.”
Cities across the country say the president’s campaign has failed to reimburse them for law enforcement costs.
By Anita Kumar and Quint Forgey

Donald Trump has raised record amounts of money as a presidential candidate. But he’s still left a slew of unpaid bills in his wake. In city after city, across the nation, Trump has failed to pay local officials who provide thousands of dollars’ worth of security assistance to the president’s campaign during his Make America Great Again rallies. In total, at least 10 cities have complained that the campaign has not reimbursed them for services provided by local police and fire departments, totaling more than $840,000, according to a study by theCenter for Public Integrity in June. Minneapolis may find itself next on the list after the president picked a fight with the city’s mayor on Tuesday.
Richard Madan, Graham Slaughter

WASHINGTON -- This time next week, U.S. President Donald Trump will be an ex-president facing an impeachment trial in the Senate that could doom his political future, and a series of looming lawsuits over business dealings and allegations of sexual assault. But Trump’s staggering level of debt may be the most lasting repercussion of his presidency as he’s racked up millions in unpaid bills from rallies, security costs, bank loans and other unknown sources. Paying back that money could be increasingly difficult for Trump as more companies cut ties with him and the Trump Organization in the wake of the Capitol riot. Trump owes cities nearly $2 million from rallies dating back to 2016, and multiple mayors tell CTV News they were never reimbursed a dime.  Wildwood, N.J. Mayor Pete Byron hosted a Trump rally last January, but Trump still hasn’t paid more than $30,000 in police and security overtime. “He should've paid us. I’m not happy about it, frankly,” Byron told CTV News.
Ten city governments from Arizona to Pennsylvania say the president’s political committee has stiffed them out of hundreds of thousands of dollars.
by Dave Levinthal

“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.
Dave Levinthal | NBC NEWS

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 invoicefor 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.
Anthony Victor Reyes

TUCSON (KVOA) - Tucson Mayor Regina Romero asked President Donald Trump to reimburse the city for unpaid costs he owes Tucson taxpayers from his last campaign stop in 2016 in a memo released Friday. As N4T Investigators first reported four years ago, records show the 2016 "Trump for President" campaign owes the city nearly $82,000 in taxpayer dollars. These dollars were used to pay local police to work as security for the rally at the Tucson Convention Center in March 2016.

In a letter sent out to the president ahead of Monday's campaign stop in the Old Pueblo, Romero shared a "friendly reminder" that Trump owes Tucson taxpayers $80,000 from his last visit. In addition, the mayor said she projects that this current visit could cost the city an additional $50,000.

"Ensuring the security of this event and of the President of the United States is our utmost priority and we are happy to provide any support you may need during your visit," the mayor said in the letter. "Since this is a campaign event, we respectfully request that you reimburse the city and its taxpayers for these expenses." more...
The president stands exposed as a tax avoider and serial debtor. It raises serious questions – but also, most likely, the passions of his fervent supporters
David Smith in

From the moment he rode down an escalator in the marble-clad, gold-trimmed Trump Tower to declare his candidacy for US president, Donald Trump was selling himself as a successful businessman who could run a successful economy. It was an image cultivated with voters for a decade on The Apprentice, the reality TV show in which Trump sat in judgment on aspiring entrepreneurs and told most: “You’re fired!” On Sunday the mask was finally torn off. According to a blockbuster New York Times investigation into his taxes, the self-proclaimed billionaire, a personification of the hedonism and extravagance of the 1980s, has been losing more money than he makes. These are the three key points of the Times report: more...
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. video...
There's a concept about the Emotional Bank Accounts we have with each other. Biden's sitting on a pile. Trump is overdrawn.
Matt Lewis

If you’ve ever tried to cram for the SATs after partying all senior year, you know how desperate Donald Trump’s current situation is. He is running for his political life. He’s running out of gas. And he’s running out of time. Meanwhile, Joe Biden is calm, cool, and collected—and seemingly cruising to victory. What gives? To help understand Trump’s dilemma, I'm reminded of leadership guru Steven Covey's analogy of an "emotional bank account" that explains how you can only maintain positive relationships with others by proactively building trust.

Here’s how it works: “If I make deposits into an Emotional Bank Account with you through courtesy, kindness, honesty, and keeping my commitments to you, I build up a reserve,” Covey explains in The Seven Habits of Highly Effective People. “Your trust toward me becomes higher, and I can call upon that trust many times if I need to. I can even make mistakes and that trust level, that emotional reserve, will compensate for it.”

The opposite, Covey warns, results in your emotional bank account being overdrawn. And that is exactly where Trump finds himself in the summer of 2020. Trump has made significant withdrawals against the nation’s emotional (and physical) bank account. He’s like an abusive deadbeat dad who misses years’ worth of birthdays but thinks he can make up for it all with one weekend road trip. Establishing credibility takes years. That’s why he is now (desperately) running for office, while Biden is standing for office. more...
By Leslie Newell Peacock

The 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.” more...
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 Levinthal

This 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. more...

"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. more...
by Sam Donaldson

The 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. more...
By Gavin Finch, Steven Arons and Shahien Nasiripour

Top 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. more...
By Steve Benen

Last 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. more...
Among those who say billionaire didn't pay: dishwashers, painters, waiters
By Steve Reilly, USA TODAY

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.

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. more...  
By Steve Benen

The 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. more...
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. more...
Lessons From Trump’s Near-Broke Campaign
By Dmitri Mehlhorn

On 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? more...
“He’s a deadbeat.”
By Max Rosenthal

During 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. more...
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 Green

Everybody 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: more...
By David Ferguson

Hundreds 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. more...
Dozens of lawsuits allege the businessman didn't pay what he owed.
By Hallie Jackson, Hannah Rappleye and Talesha Reynolds

Retired piano dealer Michael Diehl says he has 30,000 reasons not to vote for Donald Trump for president. The small businessman said he won a bid in 1989 to supply $100,000 worth of grand pianos to Trump's Taj Mahal casino in Atlantic City but was still waiting to be paid months after delivery. The gambling mecca finally told him it ran into financial difficulties and could only give him 70 cents on the dollar. Diehl, 88, told NBC News that even though he held up his end of the contract, he felt he had no choice but to take the discounted payment and lose $30,000 — or about a third of his yearly income. "I needed the money because the manufacturers needed to be paid," he said. "It hurt. It was hard to get over." Diehl's story of being burned by Trump isn't unique. A USA Today analysis published Thursday uncovered 60 lawsuits by ordinary Americans who say Trump and his businesses failed to pay them for their work. The list includes plumbers and painters, waiters and bartenders, real estate brokers and even law firms who helped him defend such suits. The documents reviewed by the newspaper include:
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