The Trump implosion thread!

Quote: SOOPOO

I don't know whether he has committed crimes or not, but what I DO know is that he, in his decades of using credit BEFORE he became President, has never been convicted of being a 'credit criminal'.

All the people claiming he hasn't paid them.... they have recourse in the courts.... yet somehow he was till able to get contractors..... how is that possible?

Credit criminal is not a legal term, its more collections slang for somebody who routinely gets into debt with no intention of paying (which is pretty much the story of Trump's life, that is why he can only get foreign financing anymore.....)

For example here is Fox Business:
https://www.foxbusiness.com/politics/trumps-business-credit-score-is-19-out-of-a-possible-100
' According to Nav, The Trump Organization, Inc.’s business credit score is a 19 out of 100 as of Sept. 23, 2016, which puts it below the national average score by more than 30 points. The Nav report said the score indicates the Trump Organization “is very likely to default on its credit payments” and that “this will make it difficult to get financing.” It puts Trump’s Organization in a “medium-to-high risk” category.
'

Trump simply has a poor repayment history, anyone who denies this is not living in reality. He has been doing this for decades.


https://www.usatoday.com/story/news/politics/elections/2016/06/09/donald-trump-unpaid-bills-republican-president-laswuits/85297274/
"In addition to the lawsuits, the review found more than 200 mechanic’s liens — filed by contractors and employees against Trump, his companies or his properties claiming they were owed money for their work — since the 1980s. The liens range from a $75,000 claim by a Plainview, N.Y., air conditioning and heating company to a $1 million claim from the president of a New York City real estate banking firm. On just one project, Trump’s Taj Mahal casino in Atlantic City, records released by the New Jersey Casino Control Commission in 1990 show that at least 253 subcontractors weren’t paid in full or on time, including workers who installed walls, chandeliers and plumbing. "

They do have recourse in the courts. But, he probably will not pay you even with a judgement (claiming that he plans to appeal it....).

The fact is Trump does not pay a lot of people.... From employees, to contractors, to creditors..... Anyone who cannot see this is just so in love with Trump that they are not living in reality....

Also I would suspect contractors competing with each other for bids doesn’t lend itself to sharing information about clients.

I am not savvy enough to understand the nuances of billionaires and their business practices. But please explain this to me.... These allegations are decades old and apparently continuous. So explain to me why a contractor would choose to do business with the trumps? I mean, he just finished building many luxury golf and hotel properties overseas. How did he get people to do the work?

Quote: SOOPOO

I am not savvy enough to understand the nuances of billionaires and their business practices. But please explain this to me.... These allegations are decades old and apparently continuous. So explain to me why a contractor would choose to do business with the trumps? I mean, he just finished building many luxury golf and hotel properties overseas. How did he get people to do the work?

Well I don't have more access to this article

Quote:

One of the more startling moments in Monday night’s presidential debate was the one where Donald Trump appeared to admit that one of his business secrets is an unsavory one: He stiffs his contractors.

That Trump frequently follows such a practice has long been alleged in the press, with Trump issuing muddled responses—half denial, half admission. But what many Americans may not realize is that the prospect of a businessman systematically reneging on his promises as a negotiating strategy—known as “selling out one’s goodwill”—is a recognized danger of the way our contract law works. Fortunately, it’s one that few business people actually exploit, for several reasons.

See bold and Giant text from Fortune magazine.

https://fortune.com/2016/09/30/donald-trump-stiff-contractors/

Quote: SOOPOO

I am not savvy enough to understand the nuances of billionaires and their business practices. But please explain this to me.... These allegations are decades old and apparently continuous. So explain to me why a contractor would choose to do business with the trumps? I mean, he just finished building many luxury golf and hotel properties overseas. How did he get people to do the work?

That is what I would like to know. Contractors tend to talk to other contractors so word would have spread.

Quote: AZDuffman

That is what I would like to know. Contractors tend to talk to other contractors so word would have spread.

Anyway..... whoever called him a ‘credit criminal’ is what is wrong with free speech. Say he has defaulted. Used bankruptcy. Been late to pay. But using the word criminal devalues the post.

Quote: AZDuffman

That is what I would like to know. Contractors tend to talk to other contractors so word would have spread.

I don't think you know what you're talking about.

https://www.contractortalk.com/threads/bad-customers-black-list.25664/

Read all the posts on that thread.

Quote:

Discussion Starter • #1 • Aug 17, 2007
I don't know if this would be legal, but consumers have resources to check on contractors to see if they have any complaints logged against them. It would be nice if contractors had resources to check on potential customers. I have been in business for myself since February of 2001. In all that time, I have been fortunate working for reasonable people but I am finally up against a customer from hell. I would like to wring their necks but it occured to me that if there were a black list of bad clients and associated horror stories, as contractors, we would have a resource to avoid trouble or at least vent

Quote: SOOPOO

I am not savvy enough to understand the nuances of billionaires and their business practices. But please explain this to me.... These allegations are decades old and apparently continuous. So explain to me why a contractor would choose to do business with the trumps? I mean, he just finished building many luxury golf and hotel properties overseas. How did he get people to do the work?

Can you cite a recent example of a project. The most recent project I can find, which Trump is not even directly developing (he licensed out his name), and apparently is not even involved (his son is representing the Trump Organization) is Trump Tower in Uruguay.

https://en.wikipedia.org/wiki/Trump_Tower_Punta_del_Este

https://www.nytimes.com/2019/06/02/business/trump-uruguay-punta-del-este.html

https://www.pri.org/stories/2017-02-07/what-happened-all-south-american-trump-tower-plans

And shockingly there are funding issues, it is behind schedule (supposed to be finished now by the end of 2020, let us see.... originally they said three years in 2014..... ), and is riddled with legal difficulty. Its hard to find direct sources since its a foreign country, but I will trust the articles and the wiki page.

Do you have a more recent example? Preferably of one that he developed, not just licensed his name to (which will be hard to find as he can't really get funding any more )....

Quote: SOOPOO

Anyway..... whoever called him a ‘credit criminal’ is what is wrong with free speech. Say he has defaulted. Used bankruptcy. Been late to pay. But using the word criminal devalues the post.

It was me and it is common slang in many industries for referring to people who routinely do not pay and finance a product with no intention to pay it (or accumulate other debt with no intention to pay it).

You are a Doctor, ask your collection agency that you use or your billing agents, I guarantee that they are very familiar with the term (and probably use it all of the time).

https://www.urbandictionary.com/define.php?term=credit%20criminal

It is not a legal term, its slang for people who don't pay what they owe by choice. And, Trump checks all of the boxes (granted on a much larger scale than typical credit criminals).

A slang term that is not understood by the majority reading it is misleading at best. But using your definition I’ll withdraw my complaint. I don’t want to imply that Trump is honorable....

https://youtu.be/PWM6E0JcE_Q

This is a brilliant clip on the amount of time and money Trump has spent on golf while President.

Now you may be saying, well Trump saves money by playing and staying at his properties. But, that is not true as the government pays the company (his company) to stay there. Trump has profited big from his golf outings.... Its basically a way to funnel government money to his properties....

So not only is he golfing and vacationing far more than Obama (who he regularly criticized for doing such) he is funneling to money to his companies while doing it....