Yup, you had it right:
6:58 PM September 26 by Michelle Lee
Fact Check: Has Trump declared bankruptcy four or six times?
“You’ve taken business bankruptcies six times.”
–Hillary Clinton
“On occasion – four times – we used certain laws that are there.”
–Donald Trump
THE FACT CHECKER | Clinton is correct.
Trump’s companies have filed for Chapter 11 bankruptcy protection, which means a company can remain in business while wiping away many of its debts. The bankruptcy court ultimately approves a corporate budget and a plan to repay remaining debts; often shareholders lose much of their equity.
Trump’s Taj Mahal opened in April 1990 in Atlantic City, but six months later, “defaulted on interest payments to bondholders as his finances went into a tailspin,” The Washington Post’s Robert O’Harrow found. In July 1991, Trump’s Taj Mahal filed for bankruptcy. He could not keep up with debts on two other Atlantic City casinos, and those two properties declared bankruptcy in 1992. A fourth property, the Plaza Hotel in New York, declared bankruptcy in 1992 after amassing debt.
PolitiFact uncovered two more bankruptcies filed after 1992, totaling six. Trump Hotels and Casinos Resorts filed for bankruptcy again in 2004, after accruing about $1.8 billion in debt. Trump Entertainment Resorts also declared bankruptcy in 2009, after being hit hard during the 2008 recession.
Why the discrepancy? Perhaps this will give us an idea: Trump told Washington Post reporters that he counted the first three bankruptcies as just one.
Yes, he's as brilliant and articulate as you are lol. What makes him so brilliant at financial stuff? His daddy's money that he started off with? Most of us here can accomplish what he's accomplished in the business world with that headstart. We can manage a few bankruptcies I'm sure. Lol. Smh. Brilliant indeed.
His Daddy gave him a small stipend as an allowance so he could learn the
value of a buck! He did and that's why we have those Trump Towers all
over the WORLD. Donald also is helping the American people by putting
stipends in their pockets too just like his daddy did to him! What a great
man Trump be! Love him! cheersgifcheersgifcheersgifcheersgifcheersgifcheersgifcheersgifcheersgifcheersgifcheersgifcheersgifcheersgifcheersgif
The Trump Organization. The Trump Organization is the collective name for a group of approximately 500 business entities of which Donald Trump, the current U.S. President, is the sole or principal owner.
So, 6 businesses out of 500 = a 98.8 business success rate!
What percentage of businesses fail?
It's often said that more than half of new businesses fail during the first year. According to the Small Business Association (SBA), this isn't necessarily true. The SBA states that only 30% of new businesses fail during the first two years of being open, 50% during the first five years and 66% during the first 10.
So, Trump having a success rate of almost 99% when 50% of businesses FAIL in the first 2 years is a bad thing?
Hows that logic work?
Cause according to STATISTICS he should have had around 250 of them FAIL and not 6.....
So, 6 businesses out of 500 = a 98.8 business success rate!
What percentage of businesses fail?
It's often said that more than half of new businesses fail during the first year. According to the Small Business Association (SBA), this isn't necessarily true. The SBA states that only 30% of new businesses fail during the first two years of being open, 50% during the first five years and 66% during the first 10.
So, Trump having a success rate of almost 99% when 50% of businesses FAIL in the first 2 years is a bad thing?
Hows that logic work?
Cause according to STATISTICS he should have had around 250 of them FAIL and not 6.....
For the average person when a business fails it's over. But when you have daddy's backing and money to start off wealthy already (not to mention the bankruptcy to take advantage of that he proudly proclaims to have done multiple times) it's easy to try n fail try n fail.
Man, you're the easiest one of them all. Why do you continue to embarrass yourself? Lol. You're so harmless and you make your side look so bad.
Remember when you got owned on the corporate welfare issue?
Man I can't be bothered with ignorant uneducated people. You are no match for me on an intellectual level. Be gone. Lol.
Peace mosquito.
