"wealthy people do not pay interest"

[Nutria]

They didn't default on debt. They simply used Chapter 11 to provide a corridor by which they reorganized debt.

By "reorganize", you really mean "pay pennies on the dollar".

[TexasHusker]

By "reorganize", you really mean "pay pennies on the dollar".

I haven't studied the bankruptcies, but rarely does a chapter 11 for a publicly traded company result in "pennies on the dollar" scenarios. I'm no Trump supporter (although I'll take him over Hillary), but I think the bankruptcy thing is pretty distorted. He wasn't personally bankrupt. Four publicly traded companies that bore his name utilized an available resource to reorganize their finances. Hard to blame a company for using the tools they are afforded.

[Nutria]

I haven't studied the bankruptcies, but rarely does a chapter 11 for a publicly traded company result in "pennies on the dollar" scenarios.

Chapter 11 is a great way for companies to shed debt. And if they do it only by selling assets, why didn't they do that before declaring bankruptcy?

I'm no Trump supporter (although I'll take him over Hillary), but I think the bankruptcy thing is pretty distorted. He wasn't personally bankrupt.

The companies that he owned went bankrupt. That doesn't say much for his business acumen.

Four publicly traded companies that bore his name utilized an available resource to reorganize their finances. Hard to blame a company for using the tools they are afforded.

I can blame company management for being incompetent.

[TexasHusker]

Chapter 11 is a great way for companies to shed debt. And if they do it only by selling assets, why didn't they do that before declaring bankruptcy?



The companies that he owned went bankrupt. That doesn't say much for his business acumen.



I can blame company management for being incompetent.

Chapter 11 affords a window of time to reorganize. Trust me, the creditors want them to reorganize.

Trump no more owned the companies than Warren Buffett owns Berkshire Hathaway. All of the companies were publicly traded, with thousands of shareholders. Trump is a shareholder, although I would be very surprised if he holds anything more than a fraction of the outstanding shares. You're confusing a person with a company that bears his name.

[Nutria]

I can blame company management for being incompetent.

Trump no more owned the companies than Warren Buffett owns Berkshire Hathaway.

Correct. Which is why I wrote "management", not owners.

You're confusing a person with a company that bears his name.

You're not paying attention to what I wrote.

[TexasHusker]

Correct. Which is why I wrote "management", not owners.



You're not paying attention to what I wrote.

I believe you wrote "the companies that he owned went bankrupt".

[Nutria]

I believe you wrote "the companies that he owned went bankrupt".

This is a computer forum with a complete textual records of what we all typed. This is only a two page thread, so it's easy enough for you to find the quote instead of assume what I wrote. After all, I found my previous quote with a moment's searching, and found this other quote of mine with a moment's more searching:

Of course, competently managing your company so that it doesn't fall into bankruptcy four times

[TexasHusker]

Maybe I need to restate more directly. You wrote "The companies that he owned went bankrupt." That isn't exactly true.

[Nutria]

Maybe I need to restate more directly. You wrote "The companies that he owned went bankrupt." That isn't exactly true.

So I did. (How could I have missed that?)

None of what I've read about Trump's companies, though, indicate that they are publicly held. All were subsidiaries of the (privately owned) Trump Organization or partnerships of the Trump Organization with other corporations.

I'd be glad if you find citations showing that he ran publicly owned corporations.

[TexasHusker]

So I did. (How could I have missed that?)

None of what I've read about Trump's companies, though, indicate that they are publicly held. All were subsidiaries of the (privately owned) Trump Organization or partnerships of the Trump Organization with other corporations.

I'd be glad if you find citations showing that he ran publicly owned corporations.

It is important to remember that the Trump organization includes interests in real estate development, investing, brokerage, sales and marketing, and property management, including investments in over 500 subsidiaries, with 264 of those bearing Trump's name.

As for the much discussed bankruptcies, Trump Hotels & Casino Resorts originally was traded on the NASDAQ with the symbol THCR. In 2004, after emerging from Chapter 11, the name was changed to Trump Entertainment Resorts, trading under the symbol TER.

Hope this helps.

[Nutria]

As for the much discussed bankruptcies, Trump Hotels & Casino Resorts originally was traded on the NASDAQ with the symbol THCR. In 2004, after emerging from Chapter 11, the name was changed to Trump Entertainment Resorts, trading under the symbol TER.

Hope this helps.

It does, which led to finding that TER and it's predecessors filed for Chapter 11 four times:

• 1991 - Privately owned by the Trump (or the Trump Organization).
• 2004 - Trump owned a majority share.
• 2009 - Trump owned a plurality of shares.
• 2014 - Trump owned a plurality of shares.

In all cases, Trump or people from The Organization were senior management.

[TexasHusker]

It does, which led to finding that TER and it's predecessors filed for Chapter 11 four times:

• 1991 - Privately owned by the Trump (or the Trump Organization).
• 2004 - Trump owned a majority share.
• 2009 - Trump owned a plurality of shares.
• 2014 - Trump owned a plurality of shares.

In all cases, Trump or people from The Organization were senior management.

Yes, but I believe you posted that you believed that the companies were owned by Trump and/or they were privately held. They were not.

I'm getting dizzy.

[Nutria]

Yes, but I believe you posted that you believed that the companies were owned by Trump and/or they were privately held. They were not.

Turns out I was half wrong.

I'm getting dizzy.

That's what happens when people admit error on the Intarweb.

[TexasHusker]

Turns out I was half wrong.



That's what happens when people admit error on the Intarweb.

I didn't know this was an issue of right, wrong, or admitting error.

Good day.

[Nutria]

I didn't know this was an issue of right, wrong, or admitting error.

Assertions of fact (the sky is blue, the Declaration of Independence was signed on 03-June-1784, God loves Karl Marx, etc, etc, etc) always boil down to an issue of right, wrong, or admitting error.