The DONALD (aka “His Hairness” aka “The Great American Hairball”) likes to brag about his business acumen and how he’s this “self-made” billionaire and a Yoooge job creator.
I’m running for office in a country that’s essentially bankrupt, and it needs a successful businessman.
Ok, since any claims by a politician need checking out, let’s do a little checking.
First off, His Hairness claims he’s worth $10 billion dollars. Bloomberg called BS on that claim, putting his net at $2.9 billion. Forbes puts it at $4 billion. Either estimate is a bunch of bucks. To give the DONALD a bit of benefit, I’ll go with the $4 billion figure. But then again, it’s all relative. Back in 1988, Trump claimed he was worth $1 billion. I’m not even going to challenge that. I’ll just use it as a base.
During the 27 year span between 1988 & 2015, his increase of $3 billion means that he had a gain of 300%. To put that in perspective let’s look at some other financial increases. During that same 27 years, Bill Gates went from $1.1 billion to $80 billion (7,173%); Warren Buffet went from $2.5 billion to $67.8 billion (2,612%). Even the S&P 500 went from 263 to 2084 (1,336%). So just investing in indexed funds would make you a better businessman than the DONALD.
And His Hairness didn’t start from scratch getting that first billion. He inherited somewhere between $40-200 million dollars from Daddy Fred. (Not to mention the construction company his father owned.)
Speaking of the construction company, lets take a closer look at that.
If there’s an icon of the “Trump empire,” it would probably be New York’s Trump Tower. The space it occupies was that of the Bonwit Teller building. Tearing down the Bonwit Teller building, Trump managed to avoid any labor problems despite the fact that it was a union worksite and only 15 men were union members. Among the other workers were 200 undocumented aliens including 150 Polish men. Btw, the undocumented workers worked 12 hours a day, seven days a week, for $5 an hour and no overtime. (No hardhats either.) So why were there no union strikes or at least picketing? And what happened with the job safety inspections? Not wearing hardhats while demolishing a high-rise is a huge NO-NO!
Maybe the answer is in the next paragraph.
Trump Tower was built by S&A Concrete, a company owned by two “family men.” One of the owners was “Fat” Tony Salerno, the head of the Genovese family. The other principle owner was Paul “Big Paul” Castellano, head of the Gambino family. (Can you say Mafia?) Trump also used S&A for several other of his New York projects.
Remember the (former) Trump Casino in Atlantic City?
The DONALD sent his top lieutenant, Harvey Freeman, to negotiate with Nicky Scarfo‘s “investment banker” for a lot to build the casino on. Nicky Scarfo, for those of you who do not keep up with things criminal, is the mob boss for Atlantic City. Freeman evidently didn’t have Trump’s negotiating skills, or something. His Hairness paid twice what the lot was worth. The DONALD is always bragging that he gets the price, which makes me wonder what else he was buying.
New Jersey supposedly investigates the background of anyone in the casino business but Trump managed to talk them in to limiting its investigation of him. I wonder if that was because he was investigated for bribery in 1979. No charges were filed, but according to New Jersey law, you can have your license denied for not mentioning something like that.
There’s Joseph Weichselbaum, a Trump Tower resident and a helicopter consultant and pilot for the Trump Casinos and the Trump family. Mr. Weichselbaum was convicted for cocaine trafficking in 1986. His Hairness not only wrote a letter asking for a lenient sentence, he also continued to do business with him after the conviction.
The DONALD’s Trump Plaza casino was hit with a $200,000 dollar fine for discrimination against women and minority blackjack dealers. But, the Great American Hairball claims to love woman and “the Blacks.” (Though, probably not in the same way.)
In Fortune Magazine‘s 1999 list of the 496 most admired companies, Trump’s casino company didn’t do too awfully well. It dominated the basement ratings in management, use of assets, employee talent, long-term investment value and social responsibility. Doesn’t sound like his “management skills” are all that great. (Btw, his Atlantic City casinos are now “Bankrupt City” casinos)
Oh, and some of you may remember the DONALD’s now defunct “Trump University.” (It was in all the papers and even a Doonesbury series.) He was successfully sued by the NY Attorney General over that one. It seems that T.U. was an “illegal educational institution” for which Trump charged up to $35,000 for “Trump Elite” memberships that included personal advice from His Hairness, himself. (Somehow, the Great American Hairball neglected to ever show up to give any of that “personal advice.”) He’s also the subject of individual and class action suits over T.U..
On May 32, 2010, Trump University morphed into the Trump Entrepreneur Initiative. He got sued over that one too. In a New York trial, he was found personally liable for running an unlicensed school and ordered to pay restitution to approximately 800
And then there’s his vaunted philanthropy with the Donald J. Trump Foundation. Since 2006, the DONALD hasn’t donated one damn dime to the foundation. All of the donations have come from people and companies doing business with Trump. (Why does the word “kickback” keep coming to mind?)
Somehow, the “ace reporters” of the “Tame Stream Media” aren’t doing too much digging into the DONALD’s claims or his background. Why is that?