I have received so many reports of the bad business deals Trump has entered into in the last couple of years. I get one at least once a week in my email box all from accredited sources such as Florida Realtors sending this jewel last month.
Fort Lauderdale: Trump condo-hotel faces foreclosure
"The unfinished Trump International Hotel & Tower on Fort Lauderdale beach is facing foreclosure, after developers defaulted on a $139 million loan on the long-awaited condo-hotel project.
By Doreen Hemlock"
Sun-Sentinel Staff Writer Updated: 3:17 p.m. Tuesday, March 16, 2010
I understand Trumps show has made him a great deal of money. The question is outside of that how many lawsuits are pending against him currently? I had seen reports of Trump being a leader in polls while pre mature at this point it still suprises me greatly. You can find a wealth of foreclosure reports on Trump property and business deals under his name and that has him tied into failing projects.
The below article talks from the Real Deals publisher stating while Trumps casino is enterning into a third time of his casinos entering bankruptcy. My thing is this is all fine and well in the business world but as a leader of the country we cant restructure and file bankruptcy without serious consequences.
The Real Deal's Publisher Amir Korangy appeared on CNN's "In the Arena" last night to discuss Donald Trump's personal finances alongside show host Eliot Spitzer and Floyd Norris of the New York Times. Korangy says in the segment (see a portion of it above) that although Trump's casinos were entering bankruptcy for a third time, the developer is "a master at restructuring" and noted that he's eliminated $1.2 billion of debts in previous restructures. Korangy estimates Trump's worth to be $2 billion
The report below is from South Florida business journal:
Trump's name was used on promotional literature, but he and his company had argued they were not the developer and that they had only licensed their name to the project, a deal that has been cancelled. The building has stood empty for years.
The two surviving claims against Trump are related to Florida's Interstate Land Sales Act and the Florida Deceptive and Unfair Trade Practices Act. Jordan issued a 24-page order in the suit.
Trump could not be held responsible as a developer in the project because purchase agreements made it clear he was not. But, he also ruled that the lawsuit could go forward on claims that Trump was an "agent" in the promotion of the project.
Read more: Suit against Trump over resort to proceed | South Florida Business Journal
A number of claims in a class action lawsuit against developer Donald Trump concerning the Trump Fort Lauderdale have survived motions to dismiss the case, with a federal judge in Miami ruling Dec. 23 that two claims against the real estate mogul could proceed.
Deal on Trump units: Less than $1M each
BH III followed up on its purchased of the mortgage on 175 units at Trump Hollywood with an uncontested bid of $100 to take title. BH III reportedly paid $160 million to purchase the loan from HSBC Realty.
The price works out to an average of $914,285 a unit, compared with listed prices of $933,900 to $2.87 million on Sunny Realtys website.
Price and terms according to:
South Florida Business Journal
Date: Thursday, April 7, 2011, 12:37pm EDT
Add me to your Facebook
Brandon, he's not going to run for office, it would cost him too much money. It's just a way to get publicity and probably viewers to his Apprentic show.
Well I think it has done that for him at least.