- Feb 22, 2017
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He lost a lot of money on his casinos and airlineAnother recent Associated Press report found that Trump is a much more cautious businessman than he lets on. “He holds few stocks for someone of his wealth and has grown increasingly dependent on making money by lending out his name to others rather than developing real estate himself,” the AP wrote.
It was when he stopped making business decisions and just stated selling himself that he actually started to make money.
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The airline is the perfect example of Trump's business sense all tied into one neat package.
He paid more for the airline that it was wroth, he could have actually bought brand new planes cheaper.
He spent a million dollars per aircraft to renovate them, when their worth was only 4 million to start with. He put deep pile shag carpet down the aisles and had to replace it because the drink carts could not move on it. He put in dark wood finishing and gilded faucets. And then charged for the "luxury", but nobody cared about that because the flights were all less than an hour long.
He took an airline that had been profitable for 30 years and in less than 3 years had it taken away by the banks. That might be a record for destroying a successful company.
"wroth"????
Come on grow up.
Why are you so insistent on tearing Trump down? Does it make you feel bigger?
Where did you get the information that Eastern was profitable for 30 years?
The airline, however, has been anemic for most of the past 20 years. In the view of many industry analysts, Eastern's lackluster performance is due partly to poor management and partly to the airline's particularly recalcitrant labor unions.
TEARING APART EASTERN AIRLINES
"But later, as the closing was delayed by Eastern’s bankruptcy and other bidders emerged, Trump tried to get Eastern chief Frank Lorenzo to lower the price, since the value of the asset had indeed diminished."
How Donald Trump Bought - and Lost - an Airline - View from the Wing
Your constant bringing up of information makes me wonder about your sources?
Why don't you link to prove what you are saying because so far you are wrong at least about Eastern being profitable for 30 years!
I am still waiting on your source for Trump Inc being split 5 ways as you claimed it was.