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Mainecat

USA Contributing Member
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Everything posted by Mainecat

  1. He filed bankruptcy, fucking hard working American families out of money for his profit.
  2. post up the conviction or shut the fuck up. Imagine being a small business like the hundreds that contracted for Trump and getting stiffed. Many here are in the same type of trades. Condoning this type of business activity is totally insane, supporting a guy who does this many times for president of the United States should be committed to the tard home. But hey Sludgey your a Trump supporter....lmao
  3. Trump Taj Bankruptcy Left Many Contractors Angry By bernard condon, ap business writer ATLANTIC CITY, N.J. — Jun 29, 2016, 3:41 AM ET The contractor who provided the onion domes for the Taj Mahal casino had to eat $2 million in losses. The contractor who supplied the Carrara marble from Italy ended up filing for personal bankruptcy. The contractor who put in the bathroom partitions had to lay off his brother. A quarter of a century has passed since Donald Trump refused to pay in full 253 contractors who help build his Taj in Atlantic City. But for many of them, it could have happened yesterday. "We got next to nothing," says Michael MacLeod, whose 40-person studio made the giant elephant statues at the casino's entrance. "I took a big hit." After the Taj opened in April 1990, the self-anointed "King of Debt" owed $70 million to contractors employing thousands who built the domes and minarets, put up the glass and drywall, laid the pipes and installed everything from chandeliers to bathroom fixtures. A year later, when the casino collapsed into bankruptcy, those owed the most got only 33 cents in cash for each dollar owed, with promises of another 50 cents later. It took years to get the rest, assuming the companies survived long enough to collect. Trump spokeswoman Hope Hicks and Trump attorney Alan Garten did not respond to a list of questions about the candidate's Taj dealings. Marty Rosenberg, former vice president of Atlantic Plate Glass, says the way Trump handled the contractors shows the candidate is shrewd and clever, but Trump won't get his vote. "If ethics or morality has nothing to do with business," Rosenberg says, "he's a very good businessman." For the contractors, the first signs of trouble came in February 1990. Regular checks for work completed stopped arriving in the mail. Rosenberg, who was owed $1.1 million for installing floor-to-ceiling curtain walls of glass, picked up the phone in his Atlantic City office and called one of Trump's men overseeing construction. "I'll check it out, Marty, and call you right back," the man said. A day later, he got his answer: The money's coming in two weeks. The check never came. Five hundred miles away, in Ashtabula, Ohio, Robert Morrison of the Molded Fiber Glass Co. was pressing his workers to finish the domes, minarets and other faux Moorish ornaments in time for an April 2 opening — and worrying about who was going to pay for it all. An invoice sent weeks earlier for $1.4 million still hadn't been paid. Many contractors didn't know what to think. Trump said he needed to complete audits first to make sure they weren't overcharging; he denied he was in financial trouble. "I have a tremendous amount of cash," he told The Washington Post that March. Desperate for money to pay workers and suppliers, some contractors became easy targets for a new Trump offer: Agree to less than they billed, and he'd pay the lower amounts immediately. One of the hardest hit was marble supplier John Millar, who was owed $3.9 million. As he was walking into a meeting with contractors to share strategies, landscaper Herman Caucci asked him what he planned to do: Stick it out, or take cash at a discount? "I don't know, Herman, I need the money," Caucci recalls Millar responding before the March 1990 meeting. "We could lose everything." Court documents suggest he got about 30 cents on the dollar over the next year. Millar is deceased. His family wouldn't comment. The stress was also building at Hastings Pavement, a company supplying paving stones. Mario Paone, president of Hastings, rarely lost his temper. But he had received only $100,000 of the $1.3 million he had billed Trump. He exploded one day just as his son, Philip Paone, then 24, walked up to his office door. "I want my money!" Philip recalls his father screaming into the phone to Trump. "Pay me my money!" Documents filed with regulators suggest Trump gave Paone about a third of what he was owed over the next year. Trump managed to open the Boardwalk casino on April 2, 1990, and continued to dismiss rumors that he was in financial trouble, but the truth soon came out. Over his protests, regulators unsealed a devastating report in August written by Trump's own accountants that showed he had been burning through cash in his personal accounts so fast in the spring that he would have had nothing by end of the year if he didn't take drastic action. The next year, the Trump Taj filed for bankruptcy. When the casino emerged from Chapter 11, Trump got a contract to manage it. Others caught up in the Taj turmoil didn't fare as well. Marble man Millar had to lay off workers, shut down his business Avalon Commercial, close many of his retail stores and borrow from friends to make ends meet, according to court documents and Millar's lawyers and former employees. In 1996, he filed for personal bankruptcy. Morrison's Molded Fiber Glass joined with 47 others in a negotiated settlement with Trump for cash equal to 33 cents of each dollar owed, plus 50 cents in convertible bonds, according to a book by Morrison published in 1994. Strapped for money, some contractors sold the bonds immediately, getting a fraction of what they were worth at maturity. Morrison wrote off $2 million of the $3 million Trump owed him, according to his book. The company refused to comment. MacLeod, the elephant sculptor, says his anger has faded. Giving a slide presentation of his work to an architectural firm two days after Trump swept the New York Republican primary in April, he slipped in two photos — one showing one of the elephants, the other showing Trump's name on the casino marquee in red lights. "This guy never paid me," MacLeod deadpanned. Everyone laughed. What a nice guy eh? http://abcnews.go.com/Politics/wireStory/trump-taj-bankruptcy-left-contractors-angry-40211016
  4. More Trump Victims Surface As Condo Scam Is Revealed, Millions Lost As He Profited By Oliver Willis on June 28, 2016 9:20 pm · Donald Trump has a pattern of business behavior that he has repeated several times over his career when he isn’t on a reality show pretending to be a billionaire genius. A loud, splashy launch of a project followed by a high pressure sales job that dazzles prospective customers, followed by mismanagement and poor business decisions that result in a failed business but somehow Trump makes money for himself. The pattern has repeated itself with Trump University, Trump Steaks, Trump Magazine, and now the Los Angeles Times has revealed the seedy underbelly of Trump Ocean Resort, a condo community that was supposed to be built in Baja with homes overlooking the Pacific Ocean. Guess what happened next? In the end, nothing at all was built at Trump Ocean Resort, and Simms lost her money. As did about 250 other buyers, most of them from Southern California. All told, two years of aggressive marketing yielded $32.5 million in buyer deposits, every bit of it spent by the time Trump and his partners abandoned the project in early 2009 as the global economy was reeling. Most of the buyers sued them for fraud. In this case, Trump did what he has often done in real estate deals – licensed his name to a third party developer, but not actually do the building himself. Trump has often portrayed these properties he really had nothing to do with as part of his real estate “empire,” and the media has gone along with the fairy tale. The people who lost money in these condos say that is what happened here, and that Trump’s children – Donald Jr. and Ivanka – were part of a ruse to make it seem as if Trump was one of the main developers instead of just a name attached like a cheap sticker. “We are developing a world-class resort befitting of the Trump brand,” Ivanka Trump said in a video on the Trump Baja website. “I’m very excited about it. I actually chose to buy a unit in the first tower.” Her father appeared in the same video saying he was proud “that when I build, I have investors that follow me all over.” The sales team even told prospective buyers that Trump himself had purchased a condo in the development, but he actually never did. Trump even signed a letter given to prospective customers identifying himself as one of the builders – but he wasn’t. The company doing the actual building, after months of inactivity on the construction site, eventually sent a letter to people who had bought in telling them that they would not be able to proceed with construction due to a lack of money and the economic turndown in 2008-9. They also said they wouldn’t be providing refunds of the millions of dollars they had taken. The Trumps did get $500,000 in licensing fees for their involvement in the scheme. Another pump and dump Trump mission completed. WHAT A FUCKIN GUY.... http://addictinginfo.org/2016/06/28/more-trump-victims-surface-as-condo-scam-is-revealed-millions-lost-as-he-profited-video/
  5. You guys are pathetic. Post up where she was charged. Just do it or shut the fuck up.
  6. Vince why not another investigation. If she wins there will be much more. I hope the repubs take a massive hit in the house and senate so that the retard tea party gets incinerated.
  7. WOW your really nuts. Seek help quick.
  8. Probably cost them the majority in November
  9. Republicans are like women on the rag over this.
  10. So nothing on Clinton again. Maybe one more investigation will find the cheese eh? NitWits
  11. Increases are not due to the ACA they have been huge for over a decade. Its greed
  12. Dumb fuck conspiracy theorists like yourself are a political distraction. I have supported a National Healthcare Plan since the 1972 election when it was part of the dem platform
  13. Good example. I have many as well. Now many here will say health insurers are "losing" money.
  14. Big Healthcare owns congress. Cost controls were removed from the ACA because of that.
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