Donald Trump's New Business Partners Just Published A Damning List Of All His Failures

[TheBlackAdder]

.

Trump’s business failings — and the number of lawsuits he currently faces — are laid bare in damning detail in the S-4 registration statement that Digital World Acquisition Corp., the special-purpose acquisition company that is merging with Trump’s Trump Media & Technology Group Corp. to take it public, filed with the U.S. Securities and Exchange Commission on Monday.

Of Trump’s lengthy history of bankruptcies, it states:

Entities associated with President Trump have filed for bankruptcy protection. The Trump Taj Mahal, which was built and owned by President Trump, filed for Chapter 11 bankruptcy in 1991. The Trump Plaza, the Trump Castle, and the Plaza Hotel, all owned by President Trump at the time, filed for Chapter 11 bankruptcy in 1992. THCR, which was founded by President Trump in 1995, filed for Chapter 11 bankruptcy in 2004. Trump Entertainment Resorts, Inc., the new name given to Trump Hotels & Casino Resorts after its 2004 bankruptcy, declared bankruptcy in 2009. While all of the foregoing were in different businesses than TMTG, there can be no guarantee that TMTG’s performance will exceed the performance of those entities.

Of failed license agreements with Trump, it notes:

Trump Shuttle, Inc., launched by President Trump in 1989, defaulted on its loans in 1990 and ceased to exist by 1992. Trump University, founded by President Trump in 2005, ceased operations in 2011 amid lawsuits and investigations regarding the company’s business practices. Trump Vodka, a brand of vodka produced by Drinks Americas under license from the Trump Organization, was introduced in 2005 and discontinued in 2011. Trump Mortgage, LLC, a financial services company founded by President Trump in 2006, ceased operations in 2007. GoTrump.com, a travel site founded by President Trump in 2006, ceased operations in 2007. Trump Steaks, a brand of steak and other meats founded by President Trump in 2007, discontinued sales two months after its launch. While all these businesses were in different industries than TMTG, there can be no guarantee that TMTG’s performance will exceed the performance of these entities.

https://www.huffingtonpost.co.uk/entry/donald-trump-business-failings-detailed-filing_n_6285e0f8e4b00685b668f891

They can't give any assurances that this new venture will be a success or just go the way of these others.

.

[MissMillie]

1. Begs the question...

Why go into business with him?

His social platform (which appears to be a technological nightmare) isn't going to thrive among the likes of other social platforms. It won't. He couldn't even get the damned thing up and running.

So... why go into business with him?

He's skipped out on paying so many employees, so many contractors and so many partners that we've all lost track.

Which dimwits at Digital World Acquisitions are deciding to do this?

[malaise]

4. Begs another question

How did this two-bit con man and loser ever become president?

[Justice matters.]

9. "Russia" + FOX +

Jill Stein.

On edit: Add Jack Dorsey to that trio.

[zipplewrath]

14. CNN

Not to mention Comey.

[Ray Bruns]

2. We'll just have to see what happens when they take TMTG public.

God, I hope none of my 401K fund will invest in that sh!tshow.

[TheBlackAdder]

6. You know he'll be getting Preferred shares along with a few others, the rest are Common shares.

[Wounded Bear]

3. "There can be no guarantee" should be his epitaph...nt

[BSdetect]

5. How can a bankrupt just keep repeating claims of bankruptcy? Clearly should be prevented.

No doubt he claimed all sorts of lost values as well as inflated values at the same time.

Lies upon lies going unchecked for loans or bribed etc

[MissMillie]

8. If I remember the history correctly,

at one point he filed and he was either denied or was granted on the condition that he be put on an "allowance."

The "allowance" was something like $350K-$450K PER MONTH.

I know--that doesn't seem like a "check" on his failed practices either. Or any kind of "check" for that matter.

[Turbineguy]

7. Actually, this is kind of fun.

They are giving people all the reasons they need, not to invest. Are you stupid enough to invest, or do you just skip your due diligence and hope for the best?

For institutions or advisers this could be a minefield.

[Faux pas]

10. Ha Ha Ha

[gristy]

11. this one sounds like he had a load of laundry to do

Trump Mortgage, LLC, a financial services company founded by President Trump in 2006, ceased operations in 2007.

And it got done.

[ProfessorGAC]

15. Couldn't Have Been Much

The company was on paper only for 3 years. Never did a thing.
It started operations & shutdown in 13 months.
Only $26.5 million passed through the company (barely over $2 million per month) despite TFG's touting $100 billion in 5-10 years.
6 top management bailed in 6 months & some friend of the junior idiot took over.
The company shuttered when operations fell off & that pal turned out to be a fraud. (Only the best people, my rear.)
They weren't around long enough & not enough cash flow to have laundered anything significant.
BTW: when they shuttered, TFG said he didn't really run the company & it was just a name licensing agreement, both provably false by filed legal documents. He also said he never really liked the idea, despite predicting $100 billion in business. Pathlogical liar.

[PXR-5]

12. I worked for him back in the 80s

He was a dick and never paid bills.
Then when he did pay he refused to pay late fees.

My dad's law firm rented a penthouse from him for out of town guests, my dad always had issues with him.

Latter, my dad's firm hired Rudy Giuliani, my dad personally had the honour of firing him.

[Patterson]

13. "Begs the question" doesn't mean what some of y'all think it does.