Trump Loses His D.C. Hotel: What Is Next?

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Courtesy of Michael Vadon (Flickr CC0)

Now that everyone knows that Trump is the world’s biggest loser, having failed at every business venture in his pitiful life, let us help everyone learn the truth.

Here’s a list of failures prior to his illegitimate 2016 win in the Electoral College:

  • Trump
    Courtesy of R Boed (Flickr CC0)

    Trump Airlines – It simply didn’t fly. After receiving a $245 million loan, he struggled to keep his business in the air. After two years, and being unable to pay the $1,000,000 a month payments, he was forced to relinquish his interest to creditors.

  • Trump, the Game – In 1988 trump and Milton Bradley created a board game. After-sales of only 800,000 of an expected two million, the operation closed in 1990.
  • Trump Casinos – I was employed by some of the worst casinos in America. I had 12 jobs in 20 years, and not one of them failed. However, beginning in 1991, Trump declared bankruptcy in three Atlantic City casinos and one in Indiana. He was in debt of $1.8 billion.
  • Trump Magazine – In 2007 Trump was convinced that he could publish a magazine he called “Trump Style and Trump World.” His intent was to sell advertising for yachts and other high-end commodities. The timing could not have been worse and it was out of print by 2009.
  • Trump Mortgage – “I think it’s a great time to start a mortgage company,” Trump famously predicted to CNBC in April 2006. “The real estate market is going to be very strong for a long time to come.” His “psychic powers” were obviously not functioning. After the housing market began to collapse in 2007, he was forced to declare bankruptcy once again. When it ended, he required a payment of $298,274 for a judgment he owed a former employee and $3,555 in unpaid taxes.
  • Trump Steaks – Donny bought a company that slaughters and sells beef. He believed that putting his name on products would increase sales. Trump attempted to sell them through Sharper Image. His investment of more than $700,000 was a complete failure. Jerry Levin, the CEO of Sharper Image said, “we almost sold no steaks. If the total was $50,000, I would be surprised.”
  • Trump Tower, Tampa – Trump sold his name to a condo complex for $2,000,000. The company collected down payments and eventually closed down the complex. Trump was sued multiple times, but the most he ever paid in a settlement was just over $11,000.
  • Trump University – Most everyone knows this was a purely fraudulent enterprise that promised an exceptional education related to buying and selling real estate. Enrollment in the “university” costs as much as $35,000. Court-ordered restitution to those who enrolled in the school which offered nothing but profits for Trump. Other lawsuits are still pending.
  • Trump Vodka –  Investing in the manufacture of top-shelf vodka appeared to be a great idea. He believed that a “T&T” (Trump and Tonic) would be a popular drink. However, as the word spread that Trump himself did not drink, he lost several hundred thousand dollars again.

Most recently, Trump sold his lease on his D.C. hotel to a development group for a reported $324 million. However, after it opened in 2016, just prior to his illegitimate victory in the Electoral College, it lost a reported $70 million over the next four years.

Without any experience in government, Trump’s only claim in 2016 was that he was a successful businessman. “The truth lives here,” and I can tell you he was neither. He was America’s biggest mistake.

Op-ed by James Turnage
Edited by Sheena Robertson

Sources:

Rollingstone: Donald Trump’s 13 Biggest Business Failures; by TESSA STUART
Newsweek: Trump Hotel out of Business as Video Shows Signs Stripped From Building; by EWAN PALMER

Inset Image Courtesy of Michael Vadon’s Flickr Page – Creative Commons License
Top and Featured Image Courtesy of R Boed’s Flickr Page – Creative Commons License

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