February 15, 2013, - 3:37 pm
During the Presidential race of the last two years, I laughed every time some Tea Partier or so-called conservative blindly gushed over Donald Trump and lectured me that he should be the Republican nominee because he knows how to run a “successful business.” I wondered if these people ever read a paper or ingest a single iota of info beyond propaganda and talking points. Aside from the fact that Trump has no ideology or principles to speak of (other than “Look at me and my Saddam Hussein Palace-style apartment!”), the guy is a failure as a businessman. Most of his businesses–other than his self-promoting, boring “The Apprentice”–are failures.
The guy is only still in business because, at one time, he was “too big to fail.” Those gushing over Trump forget that at one time he was the world’s largest debtor. He was going to file for bankruptcy, but his creditors would lose so much, they couldn’t afford to let that happen. Instead, they put him on a budget of “only” $400,000 a month and tried to put things back in order, which isn’t exactly what happened. But they were left holding the bag, and Trump was laughing all the way to the bank. And this is aside from the fact that Trump’s father gave him $100,000 to start his business empire, at a time when that was real money and equivalent to a million dollars today (or more).
Now, it’s the same with his latest embarrassing failure: the sale of his Trump Plaza casino and hotel in Atlantic City at a discount of 90% from the $210 million it cost to build back in 1984. In today’s dollars versus 1984 dollars, the discount is more like 98% off. Normally, a casino like that should be worth more than a billion, maybe even multi-billions. But Trump ran it . . . into the ground.
The paltry sale price of Trump Plaza should be a huge embarrassment to Donald Trump. He’s clearly NOT a success in business. He’s a failure. “The Apprentice” is really what’s keeping him and his business name afloat. And his phony flirtation with conservatism (he’s not a conservative and supported Obama in 2008). Trump will collect big bucks in a few weeks, when he speaks in Novi, Michigan, a Detroit suburb, at the Oakland County Republican Lincoln Day Dinner.
But it’s not an embarrassment for Trump. Nothing is. The multiple wives and out-of-wedlock girlfriends weren’t an embarrassment for him in the days when societal conditions still made that embarrassing and a source of shame. His failure and near-bankruptcy wasn’t an embarrassment. And his ever-changing, chameleon-like political views aren’t embarrassing to him.
And, so, Trump acts as if selling a casino built for $210 million 1984 dollars for $20 million 2013 monopoly paper money dollars is no big deal. More:
Trump Plaza, the Boardwalk centerpiece of Donald Trump’s one-time Atlantic City empire, was sold Thursday to a California company for $20 million in the cheapest of a series of bargain-basement deals for distressed gambling halls in the struggling New Jersey seaside resort.
The Meruelo Group of Downey, Calif., plans to close the deal by May 31. It is the lowest price ever paid for a casino in Atlantic City. . . . Trump Plaza, which cost $210 million to build, opened in May 1984 as one of Donald Trump’s pet projects. The real estate mogul has since limited his dealings in Atlantic City.
The sale leaves the company he once ran, Trump Entertainment Resorts, with just one casino, the Trump Taj Mahal Casino Resort. The company sold the former Trump Marina to a Texas company that rebranded it as the new Golden Nugget in 2011. . . . Trump Plaza has struggled mightily in recent years, despite its central location. It has become the worst-performing casino in town in terms of casino revenue. Last month, Trump Plaza took in less than $4.9 million, a decline of more than 40 percent from a year ago.
For anyone else, this would be the final nail in the coffin on a failing business career. But Donald Trump thinks he’s not just anyone else. He thinks he’s special.
Sadly, gushing Republicans, conservatives, and the entertainment media, including FOX News, treat him that way. They not only ignore his long list of epic business failures, but they ignore things he’s done, like fawning over 9/11-enabling Dubai, his engineering of a Muslim Hezbollah supporter to be picked as Miss USA (and refusing to allow media to ask her about it), his continued alliance and promotion of anti-Israel, anti-Amerian Farouk Shami and Shami’s CHI hair products, and his hosting of Muammar Qaddafi on his property.
I have to admit that I enjoyed Trump’s feuds with Rosie O’Donnell and Michelle Malkin, a complete and utter fraud (he had the better of both of those morally equivalent whiners). But Donald Trump is a fake and a phony, just like Fraudkin. The Trumperor wears no clothes. And he just sold them to the Salvation Army for a 98% discount. Mitt Romney really was a successful businessman. Donald Trump is that strictly in his own mind and in media hype.
Maybe, some day, people will wake up. For now, the next season of “The Apprentice” is about to start and a man who just failed miserably for the nth time is going to lecture others on how to be successful in business.
Tags: Atlantic City, conservatives, Donald Trump, Golden Nugget, Meruelo Group, Republicans, Trump Casino, Trump Entertainment Resorts, Trump Plaza, Trump Taj Mahal