Author Topic: A Trump Tower Goes Bust in Canada  (Read 414 times)

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Offline ABX

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A Trump Tower Goes Bust in Canada
« on: November 04, 2016, 01:27:44 am »
Technically, Trump did not develop this. One of his Russian business partners did. He just licensed his name to it, like most things you think are 'Trump', it is really just selling his name.
...with this failed project now 91% of all Trump businesses (source Newsweek) started since 1985 went broke...

Quote
...On Tuesday, a Canadian bankruptcy judge placed the glass-and-granite building into receivership, just four years after Trump and his children cut the ribbon at its grand opening. Once it’s auctioned off, whether or not Trump is the leader of the free world by then, his name may well vanish from its marquee.

Trump is not the project’s developer or even an investor; one of his partners, a Russian-born billionaire who got rich in Ukraine’s steel industry, controls the firm that’s in default.

Read more: http://www.politico.com/magazine/story/2016/11/trump-tower-goes-bust-canada-214412#ixzz4P00MMvbB
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HAPPY2BME

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Re: A Trump Tower Goes Bust in Canada
« Reply #1 on: November 04, 2016, 01:35:02 am »
Trump Tower in Vancouver is owned by Trump, and is very solvent.

Offline ABX

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Re: A Trump Tower Goes Bust in Canada
« Reply #2 on: November 04, 2016, 01:44:15 am »
Trump Tower in Vancouver is owned by Trump, and is very solvent.

Ummmm, not sure you can say it is very solvent when it hasn't even been opened yet. At that, it is having a LOT of problems with completion and the opening has been delayed.
http://money.cnn.com/2016/10/17/news/trump-hotel-vancouver-delay/index.html

It is now scheduled to open in 2017.