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Trump's Grand International Golf Club
Trump's International Golf Club ~ nestled in the rolling hills of Puerto Rico proper ~ was hardly a no-name course. Taking up a dozen mile stretch of the 100 mile wide island, this property played host to the 2008 Puerto Rico Open, an official PGA Tour event. Stereotypicaly, despite 'ol Donny telling Fortune Magazine that he has “the very best” golf courses in the world, here we have yet another Trump property that filed for bankruptcy. As Bloomberg reports, the property listed assets of just $9.2 million compared with a debt total of over $78 million, and when Trump Int'l Golf Club defaulted on payments of $119,814 to bondholders, they simply cited "financial difficulties." In final, the property was sold for a mere $2.2 million, just pennies on the dollar. Trump's son responded to criticism by saying the family didn't build the property, they simply managed it. Good to know Trump has promised to manage the U.S. like he has so carefully managed his brand.
Another bankruptcy, really?
Dreams and promises. That's what the Trump brand has always been about. Sharing the lifestyle of this rich and famous dude, making public every gold faucet choice and silk stocking step on television, is paramount to the growth of his purposely ostentatious brand. Behind the curtain, however, nothing says Donald like a sprawling green-acre monster going out of business and nothing says Trump like leaving a trail of scorched shareholders and smashed small businesses in your wake.
Puerto Rico doesn't get it
Despite Trump's luxury Puerto Rican golf paradise filing for bankruptcy in 2011, and Donald's own use of U.S. bankruptcy laws four times within the continental U.S., when Puerto Rico, whose citizens are also Americans, asked for bankruptcy relief, Trump made it clear, they should stand on their own two feet. Although the island faces a fixable crisis, Trump says "No" to allowing the terrority to take advantage of the laws of the land.
Dining On Leftovers
Why would Trump take a stand against Puerto Rico going bankrupt when he himself has taken advantage of the chapters available to every American? Well, we looked into it, and being a big fan of vulture funds, it turns out Trump loves it when the market crashes. It just means property values will go down letting him buy, buy, buy and grab, grab, grab at a discount. Two years before the 2008 housing market collapse, Trump actually said he was hoping for a crash. Then, according to Donald, people like him would go buy like crazy.
The Young Turks
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