Roughly 50% of businesses fail in the first 5 years. Trump doesn't seem like a business genius if he is about the same as average. It should be LESS likely that his businesses fail because he has all this money to start them up. Most businesses fail because they can't make a profit quick enough, and the business owners can't ride through the rough times. This doesn't apply to Trump.Since you're a business expert, could you fill us in on what percentage of new businesses in the United States fail within three years of foundation? Within five years?
Don't believe what Donald Trump says.you say six (6) have been identified as having undergone Chapter 11 business reorganization or a workout for the benefit of creditors (I understand it to be four, but whatever).
“You’ve taken business bankruptcies six times.”
“On occasion – four times – we used certain laws that are there.”
Why the discrepancy? Perhaps this will give us an idea: Trump told Washington Post reporters that he counted the first three bankruptcies as just one.
Trump’s Taj Mahal - 1991
Trump Castle - 1992
Trump Marina Hotel Casino - 1992.
Trump Plaza Casino and Hotel - 1992.
Trump Hotels and Casinos Resorts - 2004 (second time for same property, renamed)
Trump Entertainment Resorts - 2009
Maybe you know about bankruptcies in general, buy you don't seem to understand Trump, though. Learn about what HE did personally before assuming things.......
Warning: I am a bankruptcy lawyer.
“Atlantic City fueled a lot of growth for me,” Mr. Trump said in an interview in May 2016, summing up his 25-year history there. “The money I took out of there was incredible.”
But even as his companies did poorly, Mr. Trump did well. He put up little of his own money, shifted personal debts to the casinos and collected millions of dollars in salary, bonuses and other payments. The burden of his failures fell on investors and others who had bet on his business acumen.