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Yo_Mama_Been_Loggin

(114,921 posts)
Mon Jun 13, 2016, 12:23 PM Jun 2016

As its stock collapsed, Trump’s firm gave him huge bonuses and paid for his jet

It was promoted as the chance of a lifetime: Mom-and-pop investors could buy shares in celebrity businessman Donald Trump’s first public company, Trump Hotels and Casino Resorts.

Their investments were quickly depleted. The company known by Trump’s initials, DJT, crumbled into a penny stock and filed for bankruptcy after less than a decade, costing shareholders millions of dollars, even as other casino companies soared.

In its short life, Trump the company greatly enriched Trump the businessman, paying to have his personal jet piloted and buying heaps of Trump-brand merchandise. Despite losing money every year under Trump’s leadership, the company paid Trump handsomely, including a $5 million bonus in the year the company’s stock plummeted 70 percent.

Many of those who lost money were Main Street shareholders who believed in the Trump brand, such as Sebastian Pignatello, a retired private investor in Queens. By the time of the 2004 bankruptcy, Pignatello’s 150,000 shares were worth pennies on the dollar.

“He had been pillaging the company all along,” said Pignatello, who joined shareholders in a lawsuit against Trump that has since been settled. “Even his business allies, they were all fair game. He has no qualms about screwing anybody. That’s what he does.”

https://www.washingtonpost.com/business/economy/as-its-stock-collapsed-trumps-firm-gave-him-huge-bonuses-and-paid-for-his-jet/2016/06/12/58458918-2766-11e6-b989-4e5479715b54_story.html?wpisrc=nl_rainbow&wpmm=1

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As its stock collapsed, Trump’s firm gave him huge bonuses and paid for his jet (Original Post) Yo_Mama_Been_Loggin Jun 2016 OP
Don the con's brain washed zombie supporters will not believe this story kimbutgar Jun 2016 #1
"He has no qualms about screwing anybody. That’s what he does.” SunSeeker Jun 2016 #2

kimbutgar

(23,197 posts)
1. Don the con's brain washed zombie supporters will not believe this story
Mon Jun 13, 2016, 12:26 PM
Jun 2016

After all they want him to build that wall.

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