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originally posted by: abe froman
originally posted by: awareness10
I think Trump may just win. 'The Last Trump' before the market falls and all hell breaks loose. If Trump can't fix it, i just don't see anyone else who can .
In 1988, Trump bought Eastern Air Shuttle, an airline service that ran hourly flights between Boston, NYC and DC for 27 years prior, for $365 million. He turned the airline, once a no frills operation, into a luxury experience, adding maple-wood veneer to the floor and gold-colored bathroom fixtures. The company never turned a profit and the high debt forced him to default on his loans. Ownership of the company was turned over to creditors. It ceased to exist in 1992.
Trump unveiled his own vodka line in 2006 paired with the characteristic slogan “Success Distilled.” Advertising for the product claimed that the vodka would “demand the same respect and inspire the same awe as the international legacy and brand of Donald Trump himself.” Trump had high hopes for his liquor brand, predicting that the T&T (Trump and Tonic) would become the most ordered drink in the country and stating on Larry King Live that he got into the vodka business to outdo “his friends” at Grey Goose. The company stopped production in 2011, reportedly due to a lack of interest.
Trump Entertainment Resorts, which is composed of three Trump-owned casinos, all in Atlantic City, filed for bankruptcy for the fourth time in 2014. Trump has distanced himself from the company, saying that besides the company having his name, he has “nothing to do with it,” despite the fact that he owned 28% of its stock.
Trump launched an eponymous magazine in 2007 that, in a press release announcing the publication’s arrival, was described as “[reflecting] the passions of its affluent readership by tapping into a rich cultural tapestry.” A year and a half after the launch, the magazine ceased publication.
Donald Trump was featured on the June 2007 cover of the Sharper Image catalogue hunched over a platter of meat to kick off his line of premium steaks that he dubbed the “world’s greatest.” The company has since been discontinued—maybe it had something to do with the Trump Steakhouse in Las Vegas being closed down in 2012 for 51 health code violations, including serving five-month old duck.
In 2005, Trump opened the non-accredited, for-profit Trump University. In 2010, four students sued the university for “offering classes that amounted to extended ‘infomercials.’” Following the suit, the “university” changed its name to “The Trump Entrepreneur Initiative,” before ending operations one year later. In 2013, the New York Attorney General sued Trump and the “university” for $40 million for allegedly defrauding students.
In 2006, Trump forayed further into the real estate industry, launching a mortgage company. The Donald had high hopes for the company, asking CNBC, “Who knows more about financing than me?” Trump Mortgage shut down within a year and a half, in part because Trump selected E.J. Ridings, a man who claimed to be a top executive at a prestigious investment bank but had actually only worked on Wall Street as a registered broker for six days, to run the company.