Donald Trump

Donald Trump Thinks America Is About To Fail

When Donald Trump launched a mortgage company a couple of years back it was a sure sign that the mortgage business was heading for serious trouble. Now that he says that America is doomed by $125 oil, we’re thinking that’s a powerful contrary indicator. Maybe the worst really is behind us?
(By the way, our nerds IT folks were moving around some wires this afternoon, and comments got disabled. Should be back up now.)

Act Now

ivanka_trump_6.jpgDeny it all you want but I know it’s been a longstanding fantasy for many of you to be the son (by marriage) of a bankrupt, overly tanned businessman who’d fuck you for a nickel, steals coins that spill out from the one-armed bandits when the blue hairs hit the jackpot in AC, requests gold crowns at the dentist, fetishizes feet, and has never once lost at bocce (for the non-Gasparinos in the group, that’s lawn bowling). Today, there’s a glimmer of hope that that fantasy could become a reality– Donald Trump spawn Ivanka is single! She and real estate “mogul”/New York Observer owner Jared Kushner are finished, and rumor has it, she’s looking for consolation in the form of a first year analyst. Now’s your chance! And if that doesn’t work out, Angelo Mozilo has a daughter, as well.
Unattached [NYP]

Donald Trump Reacts To Calls For ‘Stimulus’ Plan


There’s a lot to love in this interview with Neil Cavuto and Don Trump (Cavuto’s expressions (he’s definitely been practicing these, go to 9:02 and tell me I’m wrong); Cavuto’s jokes (DT: “Ben Bernanke could’ve been a leader, instead he was a follower” NC: “He should’ve read Think Big And Kick Ass In Business And In Life“) ; Cavuto’s ass-kissing (“I love when you say ‘You’re fired,’ I love when you do that”) but if I had to choose my favorite moment I’d go with:
Trump: If i were president right now, you’d have $30 oil. I would call up Saudi Arabia and say “That fucking price is coming down and it’s coming down now” and you know what? They’d lower that price so quick and it’d be so easy.
Cavuto: What if they didn’t?
Trump: They will.

First off, this is in no way an endorsement of Donald Trump’s new book (unless you’re in need of a good gag gift), which you may have seen ads for on this very site, but the quiz the Don’s included, to determine whether or not you’re primed and ready for success? Magical. All I’m saying is, take it, so we can share our results together (* denote my pick. I scored a 25 and apparently “need a major attitude overhaul.” Now you go). Also, tell me if you think the option to answer “I love my spouse, and I do not want it to end, but I signed a prenuptial agreement to protect my finances in case it does” to question fifteen has any sort of significance to the author. Begin.

1. How much money do you want to have in five years?
a. $100,000 to $249,999.
b. $250,000 to $499,999.
c. $500,000 to $4,999,999.
d. $5 million or more. (* lay it on me)
2. What is your financial dream?
a. Winning the lottery. (* he said “dream”)
b. Getting a good job with health benefits, a 401(k), and three weeks vacation.
c. Owning my own home.
d. Having unlimited passive income from a business and/or real estate holdings or other investments.
3. Which statement best describes your financial situation?
a. I am very satisfied with where I am financially.
b. I am somewhat satisfied with where I am financially.
c. I am unsatisfied but feel hopeless. (*maybe ‘lazy’ more so than ‘hopeless’)
d. My financial situation is completely unsatisfactory. I want much more.

Read more »

Donald Trump: Kicking Ass And Handing Out Money

DonaldTrumpKicksAss.jpgDonald Trump couldn’t make money with his now defunct mortgage business, and now it seems he’s just decided to give money away instead of bothering to lend it out. We’re thinking of it as the ultimate subprime loan.
According to the Observer’s Media Mob column, Trump’s people are giving out free money at this very moment outside the Barnes & Noble at 5th Avenue and 46th Street. (We’ll give a special prize for anyone who gets a hold of TrumpBucks and spends them creatively. Email the details to us.)
At about half past noon Trump is scheduled to deliver a short speech outside the bookstore, and then will go inside to sign copies of his new book, “Think Big and Kick Ass.” His PR flak tells the Observer that there is already a line of fanboys outside the store. We’ve seen these people before. They’re vaguely frightening.
Stop by on your lunch break and ask the Donald what the biggest word he’s ever thought of is.
(Note: You may notice that “Think Big and Kick Ass” is a sponsor of DealBreaker these days. Don’t ask us how that happened. His publishers are just really open minded, we guess. Anyway, this post wasn’t paid for by anyone. In fact, we’re pretty sure the Donald still owes us a breakfast from that trip we took up to Trump Tower when he launched that mortgage company. It’s probably a conflict of interest for us to even mention this but if KKR can borrow money from Citigroup to buy back its own loans from Citigroup, and Citigroup can make money on fees from a super SIV that is bailing out Citigroup’s SIVs, well, we’re not going to worry about that kind of thing. We ran a conflicts check by the lawyers who were all still too drunk to bother us about it, and since the DealBreaker credit committee has already signed off on this post, we’re moving ahead with it.)

Donald Trump Giving Out Free Money Outside 5th Ave. Barnes & Noble
[Observer]

Trump Fires His Own Mortgage Company

donaldtrumpmortgage.jpgDonald Trump is shutting down Trump Mortgage, the mortgage lending company he launched with an audacious press conference in the atrium at Trump Tower.
This is a very special moment for DealBreaker because we covered the launch back in April. It was one of those burning, shining moments that mark market manias. A half dozen television cameras crowded the room. A crowd of onlookers cheered as the Donald, the Donald Jr and Trump Mortgage CEO E.J. Ridings entered. Small children were dressed like Donald Trump. People sipped from bottles of water bearing Trump’s likeness.
Even the Donald seemed stunned. “If you had told me we would have had this many people for a friggin’ mortgage company opening–give me a break,” he told the crowd.
Of course, most of the crowd was not attending because they were super-excited about a new mortgage company. They were there because the Donald is a money culture celebrity, complete with his own catch-phrase. And Donald let them have what they wanted—his own version of “Whachoo talkin’ ‘bout Willis?”
As we wrote way back in April 2006:

It takes exactly three minutes before The Donald finally gives the crowd what they’ve come for. He tells them that this is going to be a very successful company.
“If it’s not,” Donald says turning to the President, “EJ…you’re fired!”

As it turns out, it wasn’t a successful company and EJ Riding wasn’t all he was cracked up to be. It aimed to do about $3 billion of business but barely reached $1 billion. And then Money Magazine looked into the claims that Riding was “a top executive at one of Wall Street’s most prestigious investment banks” with fifteen years of experience in the financial industry. It turned out that his “Wall Street” experience consisted of working for a few months as a broker for Dean Witter back in 1998. But, you know, he had run a cleaning business and a vitamin company. And that’s pretty much the same thing, right?
Trump hardly seems chagrined about the failure of Trump mortgage. In fact, he is outrageously trying to distance himself from it. “Trump played down his role in Trump Mortgage, saying it was just a licensing deal and he didn’t have an ownership stake,” according to the New York Post. Sorry, Donald, we’re not buying that line. We were there. You and Junior were all over this thing. So we’re scoring this as a loss for you, and a win for us.
For those of you keeping track at home, that makes the score:
Donald Trump: $2,600,000,000.00
DealBreaker: 2
Trump Mortgage Flop Tried To Credentials Flap [New York Post]

One of these things is not like the other

Ivanka.jpg One of these things, is just not the same. Try to guess which one! Here’s the current board of Trump Entertainment Resorts, chaired by The Donald.
– Wallace B. Askins, Retired Executive Vice President and Chief Financial Officer, Armco, Inc.
– Edward H. D’Alelio, Executive-in-Residence and Member, College Management Advisor Board, University of Massachusetts, College of Management
– James J. Florio, Founding Partner, Florio Perrucci Steinhardt & Fader, LLC
– Cezar (Cid) M. Froelich, Partner, Shefsky & Froelich Ltd.
– Morton E. Handel, Chairman of the Board, Marvel Entertainment, Inc.
– Michael A. Kramer, Partner, Perella Weinberg Partners, LP
– James B. Perry, Chief Executive Officer and President, Trump Entertainment Resorts, Inc.
– Don M. Thomas, Consultant and Retired Senior Vice President of Corporate Affairs, Pepsi-Cola Bottling Co. of New York
– Ivanka Trump, 26-year Old Girl
Shares of Trump (Nasdaq: TRMP) shot up almost 3% on the news that Ivanka is joining the board, then came down to flat on yesterday’s close after people realized Trump installed several corporate defense mechanisms on his daughter, including a poison pill and supermajority change of control provision. All Ivanka has to do now is get licensed to work in the casino industry and like, learn shit.