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Originally Posted by mineistaken
"New" story about his last century's casino failure, great.
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1995 to 2005 was barely 1-2 decades ago, not a century ago.
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For 10 years between 1995 and 2005, Donald Trump ran Trump Hotels & Casino Resorts — and he did it so badly and incompetently that it collapsed into Chapter 11 bankruptcy. His stockholders were almost entirely wiped out, losing a staggering 89% of their money. The company actually lost money every single year. In total it racked up more than $600 million in net losses over that period.
Trump was chairman of the board throughout the entire time, and CEO as well for about half of it.
This is the sort of record usually associated with an Enron or a WorldCom or a Pets.com.
Meanwhile, over the same period, all his competitors were enjoying an enormous boom. Take a look at our chart.
While Trump was running Trump Hotels & Casino Resorts into the ground, the Dow Jones index of gambling stocks — the index that Trump himself cited in public filings as his best benchmark — soared 160%. Investors in Harrah’s saw their stake go up by nearly 150%. MGM MGM, -2.62% quintupled. These people were making out like bandits.
Donald Trump ran the worst performing casino company on the stock market. This isn’t a matter of “opinion.” This isn’t speculation or politics. It’s a matter of plain fact.
However, one person associated with Trump Hotels & Casino Resorts did make money:
Donald J. Trump.
A review of the company’s public filings show that over that period, while his ordinary investors were getting hosed, Trump himself was siphoning millions out of Trump Hotels & Casino Resorts through salary, “bonuses” — yes, really — and cozy “service agreements” or side deals with his private corporations.
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I don't think "business success" in any way qualifies him to run the country, but it is looking more and more that Trump isn't the success he endlessly brags to be.