Mainecat Posted April 19, 2020 Share Posted April 19, 2020 The Trump Organization Appears To Be On Verge Of Complete Financial Collapse The Trump Organization, like so many American businesses these days, is experiencing a tremendous downturn in revenues, and because the president’s family company is heavily leveraged and owes millions in payments for loans it has taken out, could be on the verge of total financial collapse and the seizure of its assets, according to the New York Times: “Representatives of Mr. Trump’s company have recently spoken with Deutsche Bank, the president’s largest creditor, about the possibility of postponing payments on at least some of its loans from the bank. “And in Florida, the Trump Organization sought guidance last week from Palm Beach County about whether it expected the company to continue making monthly payments on county land that it leases for a 27-hole golf club.” Many of the Trump properties are hemorrhaging money, estimated to be several millions of dollars a day, even though the company has left some hotels and clubs open, despite the call by medical experts to close all such gathering places to slow the spread of COVID-19 across the country. Creditors are somewhat reluctant to make a big deal out of the payments they’re owed, but can only let the matter go on for so long before taking further action, which could include foreclosure and seizure of assets, the Times notes: “Because of his history of defaults and bankruptcies, Deutsche Bank insisted that Mr. Trump provide personal guarantees on those loans, meaning that the bank has recourse to his personal assets if he were to stop paying back the money. “Deutsche Bank executives have been fretting about what would happen if he were to default, according to bank officials. Seizing the president’s personal assets would be an unattractive proposition. But opting not to collect on the loans would be the equivalent of an enormous financial gift to Mr. Trump.” http://deepleftfield.info/the-trump-organization-appears-to-be-on-verge-of-complete-financial-collapse/?fbclid=IwAR2GscAqSY4kk1-QhhRS4Jf9NuC1izF0Yqgg7vdZ4IBjyqyJ_v-tAaY8W24 Quote Link to comment Share on other sites More sharing options...
jdels Posted April 19, 2020 Share Posted April 19, 2020 No one is immune from the economic crisis this has caused MC. Foreclosure and seizure of assets seems unlikely. Quote Link to comment Share on other sites More sharing options...
01mxz800 Posted April 19, 2020 Share Posted April 19, 2020 2 Quote Link to comment Share on other sites More sharing options...
Gold Member Stephen Hawking Posted April 19, 2020 Gold Member Share Posted April 19, 2020 Deep left field? 1 1 Quote Link to comment Share on other sites More sharing options...
Mainecat Posted April 19, 2020 Author Share Posted April 19, 2020 Watch what he does not what he says. If i were Trump I would stay clear of any balcony. Quote Link to comment Share on other sites More sharing options...
snoughnut Posted April 19, 2020 Share Posted April 19, 2020 3 Quote Link to comment Share on other sites More sharing options...
Mainecat Posted April 19, 2020 Author Share Posted April 19, 2020 (edited) Ring Trump- hello Donnie it’s Vlad. I’m calling about the tab you have run up. It’s now over due. Trump- well Puttie old friend I’m good for it. Vlad- my bank oligarchs that trusted you want their money ASAP. Trump- well I don’t have it. Vlad- well maybe you could give us something we need. Trump- Sure maybe we could make a deal on something sensitive perhaps? Vlad- shut your mouth and call me on a secure line. cant happen? Think again. Every single federal employee is screened for security including who the owe money to. If it’s too much and your beholden to someone you don’t get hired OR if you are already and are flagged you can lose your job. If you have over 3,500.00 in delinquent debt you can lose your clearance or job. https://www.robinsonandhenry.com/colorado/bankruptcy/debt-and-security-clearances/ Edited April 19, 2020 by Mainecat Quote Link to comment Share on other sites More sharing options...
frenchy Posted April 19, 2020 Share Posted April 19, 2020 wonder how much bailout money his companies will receive.... Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted April 19, 2020 Share Posted April 19, 2020 6 minutes ago, frenchy said: wonder how much bailout money his companies will receive.... billions, maybe after it's all said and done he will really be a multi billionaire 3 Quote Link to comment Share on other sites More sharing options...
jdels Posted April 19, 2020 Share Posted April 19, 2020 6 minutes ago, frenchy said: wonder how much bailout money his companies will receive.... For the sake of all the employees the same as any business. You sure you want to lumped in with MC Frenchy? 1 Quote Link to comment Share on other sites More sharing options...
frenchy Posted April 19, 2020 Share Posted April 19, 2020 6 minutes ago, jdels said: For the sake of all the employees the same as any business. You sure you want to lumped in with MC Frenchy? it was a simple question. Are all hotels receiving bailout money? I have no clue. Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted April 19, 2020 Share Posted April 19, 2020 1 minute ago, frenchy said: it was a simple question. Are all hotels receiving bailout money? I have no clue. bailout money is certainly not easy to come by and it comes down to who you know. Have 2 friends who tried to get money for their business- 1 got some and 1 did not and is now pissed at the other. I just SMH because it's all relationship with the bank. Quote Link to comment Share on other sites More sharing options...
Mainecat Posted April 19, 2020 Author Share Posted April 19, 2020 3 minutes ago, frenchy said: it was a simple question. Are all hotels receiving bailout money? I have no clue. Simple questions are confusing to many here. Quote Link to comment Share on other sites More sharing options...
frenchy Posted April 19, 2020 Share Posted April 19, 2020 1 minute ago, Angry ginger said: bailout money is certainly not easy to come by and it comes down to who you know. Have 2 friends who tried to get money for their business- 1 got some and 1 did not and is now pissed at the other. I just SMH because it's all relationship with the bank. hopefully it's all public record. But somehow I am guessing not. Quote Link to comment Share on other sites More sharing options...
Pete Posted April 19, 2020 Share Posted April 19, 2020 (edited) 1 minute ago, Mainecat said: Simple questions are confusing to many here. Here’s a question Think trump will win again? Edited April 19, 2020 by Pete Quote Link to comment Share on other sites More sharing options...
Mileage Psycho Posted April 19, 2020 Share Posted April 19, 2020 1 hour ago, jdels said: No one is immune from the economic crisis this has caused MC. Foreclosure and seizure of assets seems unlikely. I don't understand why business's are in trouble as we have had 10 years of economic growth, any business that doesn't have a balance sheet strong enough to weather 4-6 months of shutdown is a poorly run business. 1 1 Quote Link to comment Share on other sites More sharing options...
Zambroski Posted April 20, 2020 Share Posted April 20, 2020 7 minutes ago, Mileage Psycho said: I don't understand why business's are in trouble as we have had 10 years of economic growth, any business that doesn't have a balance sheet strong enough to weather 4-6 months of shutdown is a poorly run business. This holds true for people on the verge of losing their homes over this too, right? Quote Link to comment Share on other sites More sharing options...
Mileage Psycho Posted April 20, 2020 Share Posted April 20, 2020 23 minutes ago, Zambroski said: This holds true for people on the verge of losing their homes over this too, right? For the most part yes, there's unemployment insurance plus the extra $600.00 a week the feds are kicking in for unemployment. In the last recession there were constructions workers who went two years on UI. My family background is the steel industry and the construction industry, economic downturns are part of life. Quote Link to comment Share on other sites More sharing options...
1jkw Posted April 20, 2020 Share Posted April 20, 2020 1 hour ago, frenchy said: hopefully it's all public record. But somehow I am guessing not. It was supposed to be and it was agreed that there would be an IG to oversee the distributions. Shocker, Glenn Fine the man picked got removed by guess who. Quote Link to comment Share on other sites More sharing options...
frenchy Posted April 20, 2020 Share Posted April 20, 2020 12 minutes ago, 1jkw said: It was supposed to be and it was agreed that there would be an IG to oversee the distributions. Shocker, Glenn Fine the man picked got removed by guess who. truly shocking 1 Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Jimmy Snacks Posted April 20, 2020 Platinum Contributing Member Share Posted April 20, 2020 51 minutes ago, 1jkw said: It was supposed to be and it was agreed that there would be an IG to oversee the distributions. Shocker, Glenn Fine the man picked got removed by guess who. 38 minutes ago, frenchy said: truly shocking DRAINING THE SWAMP!!!!! Quote Link to comment Share on other sites More sharing options...
Big Crappie Posted April 20, 2020 Share Posted April 20, 2020 Wouldn't that be something? Quote Link to comment Share on other sites More sharing options...
Guest Posted April 20, 2020 Share Posted April 20, 2020 7 hours ago, Pete said: Here’s a question Think trump will win again? With the state of turmoil the country is in right now...……….it's hard to predict. Barring that, if they run Biden I think Trump could win. If they run Cuomo, Trump is gonzo, biscuit, toast. Put a fork in him, he'll be done. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted April 20, 2020 Platinum Contributing Member Share Posted April 20, 2020 (edited) 11 hours ago, Mileage Psycho said: I don't understand why business's are in trouble as we have had 10 years of economic growth, any long established business that doesn't have a balance sheet strong enough to weather 4-6 months of shutdown is a poorly run business. Honestly a very true statement. I fixed it a bit though. Edited April 20, 2020 by Highmark 1 Quote Link to comment Share on other sites More sharing options...
Mainecat Posted April 20, 2020 Author Share Posted April 20, 2020 12 hours ago, Pete said: Here’s a question Think trump will win again? NO Bush 1 did one term and he was a much better president that Trump. Quote Link to comment Share on other sites More sharing options...
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