Big Double D Tiddies- Selections from the President’s business history and why your puts wont print.
Tl;dr just skip to the last paragraph. Consider this background due diligence because the market is closed. Most of you retards lack an historical perspective on current events, so I’m writing this to give you the bigger picture on the casino and stock market history of the president. If you’re going to waste money it should be spent on recreational drugs and strippers- it stimulates the economy and probably does less long term damage to your net worth. But since this million retard army persists in making dumb bets, I will give you some background about the President because to most of you, the only Grey Lady you know is your own mother. On May 8th, 2019, the president tweeted, “You always wanted to show losses for tax purposes. . . . [...] and often re-negotiate with banks, it was sport. Additionally, the very old information put out is a highly inaccurate Fake News hit job!” The leader of the free world bragged about losing money, said it was financially advantageous, said it was fun, and also said it was fake. [The president had some successes- but no one goes on this sub for incremental or sustainable traditional business wins. So as to not sound biased, I will include some of them. Feel free to skip this part. His first “deal” was a purchase by his father in Trump’s senior year of high school. Purchased for $5.6 million plus half a million in renovations, it sold eight years later for $6.75 million. Result- a racial discrimination lawsuit and a $650,000 profit. In “The Art of the Deal”, the president claimed this was a $6 million profit. In 1970, Paris is Out, a Broadway comedy, lost him $70,000- inflation adjusted about half a million dollars today. In 1971, he was made president of the 14,000 apartment owning company, changed the name to the Trump Organization, and was again sued for racial discrimination. In 1978 he was the agent for Penn Central’s sale of the current Javits Center, for which he was paid a commission, and then became the face of the redevelopment of the Commodore Hotel. A $70 million loan guaranteed by his father and Hyatt Hotels, in addition to $1 million revolving credit from Chase bank, financed the renovation- which obtained a 40 year tax abatement. He then went on to build Trump Plaza, which he sold as individually owned apartments- known as a cooperative, in 1981. In 1986, he successfully renovated Wollman Ice Rink on time and three quarters of a million dollars under budget.] In 1980 building site preparations began at the Trump Tower location. The previous building had some artistically significant architectural details, which were promised to the Metropolitan Museum of Art, and instead were destroyed. The demolition crew was a group of 200 strong "Polish Brigade" immigrants who worked 12 hour shifts. By using illegal labor, the president was able to avoid contributions to the pension fund and union worker welfare fund- the workers were paid $4-$5 per hour. Details are sealed after 16 years in court. Construction began in 1982 on Trump Plaza in Atlantic City, and in the first six months of opening in 1985, made only $144,000 in profit. In 1986 he bought out his partner, Harrahs, for $70 million. During this time he also purchased Trump Marina (ne Castle) for $325 million; this was the property at which his father bought $3.5 million in casino chips and never used, and which he was fined for making an illegal casino loan. In 1988, he bought the Plaza Hotel in New York for $390 million. He said in The New York Times, "For the first time in my life, I have knowingly made a deal that was not economic – for I can never justify the price I paid, no matter how successful the Plaza becomes." Another $50 million in renovations caused the total debt service to be too expensive; the prepackaged bankruptcy resulted in a $250 million dollar loss for creditors and a lowered interest rate in exchange for 49% of the hotel. Three years later the Saudis would buy a controlling stake. Trump Plaza Casino followed the same game plan as the Plaza Hotel: he owed $250 million and conducted a prepackaged bankruptcy due to sky high debt service. The bankruptcy converted the $250 million into $300 million longer term debt, then went on to conduct a $42 million dollar expansion in 1993, and a $48 million dollar expansion in 1995. It closed in 2018 and the property was foreclosed on by Carl Ichan. In 1988, he bought and renovated the Taj Mahal for nearly a billion dollars, financed with junk bonds at 14%. When he couldn’t make the payments, the property was again put into a prepackaged bankruptcy. Ironically, the Taj Mahal may have hastened the downfall of other Trump properties by cannibalizing their customers. In the end, the billion dollar casino was sold to the bankruptcy administrator for $890 million, named “Trump Entertainment Resorts”, itself filing for bankruptcy in 2004, 2009, and 2014. His casino ventures show a reliable pattern of using other people’s money to buy and build, then forcing investors to take a loss while the prepackaged bankruptcies allowed him to keep the assets and the profits. His supporters might say this is common in the casino industry, which isn't true, but he shows this pattern of behavior in the stock market as well. In 1987, at the height of his casino activity, he started a new scam. “He would acquire shares in a company with borrowed money, suggest publicly that he was contemplating buying enough to become a majority owner, then quietly sell on the resulting rise in the stock price…” Media reports at the time claimed his pump and dump gained $55 million; government documents showed his stake was smaller and profits less than $11 million. This one trick pony would work a few times between 1987 and 1989, including in companies such as Gillette, Hilton, and Federated Department stores. By 1989, Wall Street was wise and left him bag holding an American Airlines takeover bid, resulting in a $35 million loss. More recently WSB’ers will no doubt remember the Dead Sea levels of saltiness caused by accusations of pumping and dumping last year’s trade war with China, and the resulting cycle of market agitations on threats, bad news, counter threats, trade talks, and deals. Finally, Covid-19 has given us hydrochlorique panaceas, and other pump and dumps we’re still learning about. Tl;dr The president has shown a persistent penchant for profligacy using other people’s money. Most recently to use the federal government to price gouge PPE and to attempt to have his signature on stimulus checks- but he’s been doing it for 40 years. With JayPau, he’s found a real life infinite money hack, and everything I’ve written is to prove to you he isn’t afraid to use it. Keynes said, “the market can stay irrational longer than you can stay solvent” but what we’re seeing today isn’t irrationality, it is the biggest pump and stop stock scam infinite printing we’ve ever seen from a guy who brags about pump and dumps and bankruptcy filings. Your puts wont print, Trump is betting his reelection on it, and the all-in is infinite. Positions- holding all cash. Sell in May and go fuck yourself.
Former Bear Josh Bellamy has been charged by federal prosecutors after obtaining a PPP loan of 1.2M and using those funds purchasing more than $104,000 in luxury goods from Dior, Gucci. $62k at the Seminole Hard Rock Hotel and Casino, and to have withdrawn over $300k.
[WP] It was hard to suppress your laughter when the fortune teller told you her price was not cash, but a year off the end of your life. It doesn't seem so funny after she turned you away for 'insufficient funds.'
I walk down a Chicago sidewalk, I reminisce on my recent woes. Another stupid loss, now I’m eight hundred grand down. I’ll fix my debt sometime, but it has to be soon, freakin rich casino warlords. I swear out of all the punishments they could choose, it’s a friggin fortune teller, whatever it’s just a fortune teller. My punishment is comparatively light punishment, mostly just a waste of time. Exiting my thoughts I look to my left, and step off the city sidewalk, and enter a corporate-like building, ready to get my fortune read. I look around and see empty space, just a small wooden door. I enter the door, look around, I see sand-colored, thin cloth covering the top and sides of the room, along with a light-brown colored floor, with flashy gemstones covering the entire room. I look to the center of the room and see a gaudily dressed woman. She has dark skin, is wearing robes of bright colors, and is covered in presumably fake gems. The fortune teller oozes an air of confidence, and somehow, just a hint of believability. That woman won’t convince me however, so I ask her “So what’s the price, make it quick,” don’t want to waste more time. “One year off the end of your life, that’s my price,” the gaudy woman tells me, in a serious, ominous tone. Who’s gullible enough to believe that she can actually do that? “Yeah, sure whatever, I don’t care.” I accept her offer, but a feeling nags at me, maybe, just maybe, she’s right. She waves her arm in front her in serene motions, she stops her arms and looks piercingly at me. “You do not have funds to complete the transaction,” she says that as she seemingly gazes into my soul. “What?” “You don’t have enough funds, now shoo!” “Whatever, I’ll just have to explain to my them that I couldn’t complete the bet.” Hopefully the collectors will let me off easy. I mumble to myself. Dumb, weird, fortune teller. I walk out of the shady, slightly broken down, but somehow corporate-looking building. I stand on the sidewalk, reflecting on my experience. No words come to mind except, weird, really weird. Anyway, I use my phone and order a taxi. After about ten minutes my yellow taxi finally arrives, I wave to it, ushering it toward me. A man steps out, he is in a suit strangely enough, but it looks fairy tattered, and worn, so I don’t think much of it. I get a good look at the driver, he is a fairly average-looking thirty year old man, chubby-ish face, brown eyes, black hair, slightly large frame, and very hairy arms. “Where to?” He asks me. “9, Complete Street, Whotingville.” “Gotcha, he says, with a strangely satisfied tone. I open the back seat right-hand side door, and step in. The taxi has leather cushions, which have cracks on parts of them, there’s a ceiling that’s torn in one place, revealing some sort of yellow foam. After orienting myself, I sit back and relax. The driver stays silent, eh, I’m not complaining, I’m down for some peace right now. After ten minutes, the driver finally makes noise. “So what’s up?” He asks me. Ok, simple small talk, “nothin much, just the usual daily grind.” “Same here, honestly driving taxis all day isn’t the most interesting thing.” “Fair enough.” After exchanging some more conversation, stuff like family troubles to favorite childhood games. He finally asks me “so where do you work at?” Shifting around slightly, I say my normal lie, as directed by the casino loan sharks, “I work as a security guard in at the Nightshade Art Museum.” He starts grinning like a madman, he also suddenly pulls over. He stops in an alleyway, to the sides are three story tall, brick apartments. Once he drives toward the alleyway, I go one edge, I discreetly unbuckle my seatbelt. I make sure to take note of everything my driver does. My driver strategically, parked the car sideways, blocking the way from which we came from. The only scenery in this alleyway is the metal emergency stairs from the apartments. “What are you doing?!” I finally exclaim something, both shocked and scared. My driver looks back at me, and stays silent, but I catch a glint in his eyes that completely unnerves me. I get the guts to leave, and frantically unlock the taxi door, and rush out the window. I dash toward the side of the alley not blocked by a car, unfortunately I can’t see what’s on the other side. I fly down the rocky ground of the alleyway. While running, I look left, then right, the scenery repeats. After what feels like years of frantic and exhausting running, I reach a literal brick wall, there only two sets of not sturdy stairs next to me. I look and see the man in a suit behind me. The man is chasing me, his run screams the fact that he is someone, unhinged, he is erratically moving, seemingly not able to run in a straight line. After glancing back toward my chaser, I run up a set of stairs, I think one of the doors is open. Fueled by hope, I climb the stairs, every step making metal beneath me shake noticeably. After climbing two sets of stairs, and passing two doors, I reach a third door. The door is closed, no, crap, crap! I knock loudly on the door, pounding with every ounce of my strength, no response. After pounding up the stairs, the man finally reaches the third door. He stops looks at me, his face like that of a minotaur crossed with cold and calculating billionaire. The man points a pistol at me and says, “pay your damn debt next time.” So this how ends huh? How crappy. The man shoots at me. Everything goes dark. Fairly generic plot, but I still wanted to take a stab at it. Tips always appreciated!
Unathi Kwaza RT from Magnus Heystek: ANC to use emergency loan from IMF to pay salaries?Talking about selling the silverware for a trip to the casino. Noodlening van IMF dalk vir salarisse gebruik – Tito https://t.co/9wpP3mjfEr via @Netwerk24
NFL's Josh Bellamy charged in $24 million COVID relief scheme: allegedly obtained a PPP loan for his company, using the money to make purchases at Dior, Gucci and the Seminole Hard Rock Hotel and Casino
The scooby gang went for a different approach. Scooby is in the peta home for rehab, Daphne is a hooker, Velma was seen holding up a convenience store, Fred had gambled away his house at the casino and is now in debt with the loan sharks and Shaggy has become a smack addict.
Casino credit can be a great convenience and has many advantages because you don’t have to carry cash however you should NEVER apply for any casino credit if you don’t have the discipline to control your gambling. Having credit can be a benefit, but it can also present big problems if you lose control. If you have any doubts about your ability play within a budget, don’t even think about ... But following lobbying from the casino industry, rules issued by President Trump’s administration Friday state that no business is disqualified from receiving PPP loans because of gambling ... The casino industry is an extremely lucrative business. The fact that consumers spend about $100 billion per year in casino resorts gives you an advantage with a company such as ours. We do not look at your credit score, nor do we ask you for collateral. Instead, we provide unsecured casino loans with no collateral and no credit check. Your organization can receive a casino loan of up to ... Casino plans to raise 1.5 bln euros in bank loans. By Reuters Staff. 2 Min Read. PARIS, Oct 22 (Reuters) - French supermarket Casino PA>, which is battling investor concerns over the size of its ... Additionally, Casino Credit has a history of selling player financial data to others, so be careful if taking out casino loans here. Only one casino – Although this may be obvious to some players, it's worth mentioning nonetheless – taking casino credit at one casino means being able to use that loan at that casino only. Going to a different casino with a marker can cause your line of ... Second Round of PPP Loans Comes Too Late to Save Nevada’s Lakeside Inn. Posted on: April 27, 2020, 10:14h. Last updated on: April 28, 2020, 09:46h. OTTAWA - A federal program aimed at giving loans to some of the largest companies in the country is rolling the dice with $200 million to a casino chain. The casino credit application can be completed either online** or in person and takes just a few minutes. Conveniently Obtain Funds. Approach any table game and ask the dealer for a marker to begin playing, no physical cash required. If you're playing slots, approach the casino cashier and request cash from your casino credit account. Once your ID is verified you will receive your funds ... The casino won't sweat too much if you simply say you spent more than you anticipated and give them a real-time frame for repayment. They will also take payments, but don't expect to blow $5,000 and be able to pay $100 a month. If you can send $1,000 immediately and make two more $2,000 payment over the next month, they'll take it. If you dodge their calls or make promises without delivering ...
Steve and Matt Bourie, from the American Casino Guide, discuss 8 things to never do in a casino. They explain why you should never do these eight things and,... Enjoy the videos and music you love, upload original content, and share it all with friends, family, and the world on YouTube. Nhu Loan at the Winstar Casino with Strikerz bandwww.5MMusic.com I do not own this video. It is for entertainment purposes only. please subscribe... im tired of all these low quality casino movie clips soo i made really good quality ones of some the best scenes on casino please go to m... Special Guest Joe Hasson, GM of Graton Casino, joins George Adair and Tim Carroll on the Loan Show Today. In this episode we discuss the impact the casino has had on the local housing outlook for ... for more videos like this please visit my channel Explain the theory of calculation of monthly instalments. Demonstration with CASIO Scientific Calculator and CASIO Financial Consultant FC200V. It may sound hard to believe, but in the age of "responsibility" and "player protection" some legislators in Missouri are considering allowing casinos to ext...