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duke00324

08/04/09 12:21 AM

#36762 RE: sneaky_peaky #36761

...excuses are easy to find...

...it's times when you "suck it up" and take the lemons and make lemonade that winners show their true character...Duke...
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Toxic Avenger

08/04/09 7:27 AM

#36764 RE: sneaky_peaky #36761

Definitely a novel interpretation of Trump's companies.
Firstly, I don't know where you get the markets "killing" his companies. One look at the balance sheet will tell you what "killed" this one was the half a billion in accumulated losses, and that's after previous bankruptcies. When you're losing over $200 million a year (TTM), it doesn't take any illegal actions to kill your stock price.
Next, the company has $2 billion (with a b) in assets on the books. Yes it has more than that in liabilities, and it's bleeding red ink, but the current market cap of the company of less than $5 million (with an m) represents as much a gamble that the common is worth something minimal as anything else.
Lastly, you can't compare stock prices between companies with vastly different capital structures. DKAM's market cap is almost 3 times that of Trump, despite DKAM's vastly smaller asset base.

Here's an article that describes the first two bankruptcies of this company (yes, this is actually the third) with a link at the bottom to one on this third filing - www.legalzoom.com/legal-articles/trump-file-bankruptcy-repeatedly.html

IMHO, the question is not how they get into bankruptcy, but how he is able to convince lenders and shareholders (who previously put close to half a billion dollars into the company) to keep financing his projects.