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Title: Here comes Trump; will GOP embrace an outsider?
Source:
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URL Source: http://www.macon.com/2015/06/15/379 ... es-trump-will-gop-embrace.html
Published: Jun 16, 2015
Author: DAVID LIGHTMAN
Post Date: 2015-06-16 00:47:22 by A K A Stone
Keywords: None
Views: 18069
Comments: 101
WASHINGTON — Donald Trump’s dream of the White House is built on the belief that America will turn to a can-do outsider, particularly a successful business tycoon, to fix the mess that is Washington. It’s likely just a dream. Voters enjoy candidates full of outrage and without ties to the byzantine, polarized, money-saturated ways of the nation’s capital. Audiences flock to hear and cheer them in New Hampshire, Iowa and elsewhere. And then they usually vote for a more statesmanlike, experienced choice. Trump, 69, the brash New York City-based billionaire businessman and television show host, plans a “major announcement” Tuesday on his presidential intentions. He’s flirted with running before, but this time he appears to be taking the steps needed to formally enter the Republican race. He’d start as a clear underdog and wouldn’t even be the favorite among outsider candidates. Former neurosurgeon Ben Carson’s supporters have spent the last year raising money and building an organization, and former business executive Carly Fiorina has drawn friendly audiences in key primary and caucus states. Trump, like Carson and Fiorina, faces another challenge: No political experience. The last president who had never run for public office was Dwight Eisenhower. While never before elected , he WAS supreme commander of the Allied forces in Europe during World War II.
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Begin Trace Mode for Comment # 93.
#6. To: A K A Stone (#0)
Trump is a Schwarzenegger RINO. He openly supports and has been the beneficiary of crony corporatism. He even favored the 'Kelo' decision about using eminient domain to support private development . Kelo would've helped him in the 90's when he tried to force an elderly woman named Vera Coking from, her home so he could add limo parking for one of his casinos. When she turned down a $1 million offer ;he tried to strong arm her and forcibly evict her with the help of the New Jersey Casino Reinvestment Authority. She filed a suit and a judge ruled her home was not 'public space'. Had this decision been post-Kelo Trump may have won.
Maybe Trump did win. Coking sold her property for $530,000 in an auction on July 31, 2014. The reserve price was $199,000, a tenth of the offer Trump had made for the property eight years earlier. The owners of Trump Plaza expressed no interest in the auction. The adjacent Trump Plaza Hotel and Casino, the property for which Trump wanted Coking's property to begin with, closed on September 16, 2014 due to lack of business. I'll bet whoever bought the property for $530,000 wish they had known Trump was going to close the Trump Plaza Hotel and Casino. I'll also venture a bet that Coking now wishes she had taken Trump's offer.
Trump did not own it. He bailed out of it years ago. Trump received 5% stock in exchange for the use of his name and likeness. https://en.wikipedia.org/wiki/Trump_Entertainment_Resorts The casino group filed for bankruptcy for the third time in February 2009 owing $1.2 billion. Two sets of debt holders eventually proposed reorganization plans for the group in U.S. bankruptcy court. Trump initially made an agreement with banker/high-stakes poker player Andrew Beal, owner of Beal Bank, which held $500 million in the group's debt, to take over the resorts. However, citing concerns about the bank's experience with gaming, he dropped them in favor of the hedge fund Avenue Capital Management, a plan favored by other bond-holders. Beal then partnered with investor, Carl Icahn, who had worked on restructuring another Atlantic City casino, the Tropicana. In court, Trump argued that he would fight the Icahn/Beal team if they sought to use his name and likeness on the group's properties. Instead he signed an agreement with Avenue Capital in which he would receive 5% stock in the reorganized company and another 5% in exchange for the use of his name and likeness in perpetuity.
Most interesting, I did not know that. I thought he had ownership until it closed. The guy has to be an astute business man to be where he is today. "He knows when to hold them, when to fold them and when to walk away." (Kenny Rogers - The Gambler). I don't think he will ever be elected, but he just may be the best qualified person to turn this country around.
He inheirited something like 12 million bucks from his grandfather's will when he turned 21,as well as all the contacts in the NY area real estate business and the real estate his grandfather owned. Not hard to be a success when you inherited all that in the 60's.
It's a bit difficult to estimate the worth he came into as he was given control (as distinct from sole ownership) of the family business. Trump's father was rich. One might say Trump started on third base and hit a home run. https://en.wikipedia.org/wiki/Donald_Trump Trump began his career at his father's real estate company, Elizabeth Trump and Son, which focused on middle-class rental housing in Brooklyn, Queens, and Staten Island. One of Trump's first projects, while he was still in college, was the revitalization of the foreclosed Swifton Village apartment complex in Cincinnati, Ohio, which his father had purchased for $5.7 million in 1962. Trump became intimately involved in the project and with a $500,000 investment, turned the 1200-unit complex with a 66 percent vacancy rate to 100 percent occupancy within two years. In 1972 the Trump Organization sold Swifton Village for $6.75 million. In 1971, Trump moved to Manhattan and became involved in larger building projects and utilized attractive architectural design to win public recognition. He made plans to acquire and develop the old Penn Central for $60 million with no money down. Later, with the help of a 40-year tax abatement from the New York City government, he turned the bankrupt Commodore Hotel into the Grand Hyatt and created The Trump Organization.
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#7. To: tomder55, A K A Stone (#6)
(Edited)
Kelo would've helped him in the 90's when he tried to force an elderly woman named Vera Coking from, her home so he could add limo parking for one of his casinos. When she turned down a $1 million offer ;he tried to strong arm her and forcibly evict her with the help of the New Jersey Casino Reinvestment Authority. She filed a suit and a judge ruled her home was not 'public space'. Had this decision been post-Kelo Trump may have won.
#53. To: Gatlin, tomder55, A K A Stone (#7)
2009 bankruptcy and restructuring
#55. To: nolu chan, A K A Stone (#53)
Trump did not own it. He bailed out of it years ago. Trump received 5% stock in exchange for the use of his name and likeness.
#69. To: Gatlin (#55)
The guy has to be an astute business man to be where he is today.
#93. To: sneakypete, Gatlin (#69)
He inheirited something like 12 million bucks from his grandfather's will when he turned 21,as well as all the contacts in the NY area real estate business and the real estate his grandfather owned.
Business career
Replies to Comment # 93.
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