The reason why small hands response was so slow for Puerto Rico

Mar 2015
3,163
1,114
Minnesota
The problem was three fold , first he had no clue where it was and secondly he didn't know this country had territory's and thirdly he also didn't know what a territory was. He is the president of the right wing and the rest of us will just wait to have a leader after this man of hate is gone .
 
May 2012
70,796
14,426
By the wall
Its been shown there was no fault on the US side already.

Repeating a lie does not make it true no matter how hard you try.
 
May 2012
70,796
14,426
By the wall
bullshit



Then why continually do it ?
Nope, its not a lie.

You just don't want to accept it.

Turns out there are plenty of supplies there but only 20% of the truck drivers are showing up for work so they can't get delivered.

This comes from a top ranking military officer, from Puerto Rico himself, who is in charge of the relief effort.

Now instead of saying bullshit why don't you counter it with facts?
 

Blueneck

Former Staff
Jun 2007
57,749
47,245
Ohio
The problem was three fold , first he had no clue where it was and secondly he didn't know this country had territory's and thirdly he also didn't know what a territory was. He is the president of the right wing and the rest of us will just wait to have a leader after this man of hate is gone .
Interesting article about Trump's business failures in PR:

Did President Trump add $33 million to Puerto Rico’s debt by bankrupting a golf course there?


In the end, the answer is no, but Trump's lack of business skills in benefiting anyone but himself is evident.

In 2008, Trump took over the licensing and management of a Puerto Rican golf resort, the Coco Beach Golf and Country Club. But the resort filed for bankruptcy in 2015, leaving Puerto Ricans with nearly $33 million in outstanding bond payments.

So on its face, it looks like Trump added $33 million to the island’s “massive debt.” But there’s more to the story.

The property was built through bonds backed by the Puerto Rican government, through its efforts to pay for loans and guarantees to finance its hotel industry. In 2000 and 2004, the Puerto Rican government backed a total of about $25.5 million in bonds for the resort, which opened in 2004.

The resort already was headed toward bankruptcy by the time Trump came along in 2008. It couldn’t finish renovations, so it wasn’t open all year. There weren’t enough people playing golf there, so the resort ran over budget just maintaining the course. Membership dwindled and staff members resigned. In 2006 and 2007, the resort had net operating losses of $5 million to $6 million, according to the 2007 annual report.

Then, the recession hit Puerto Rico hard. The prolonged, decade-long economic turmoil made it tougher for the resort to turn back around.

In 2008, Trump agreed to license his name to the resort, renaming it Trump International Golf Club Puerto Rico, and manage the golf course in exchange for a share of the operating revenue and annual net profits, the management agreement shows. This is a standard management deal in the golf industry, according to Golf News, and Trump leased his name for marketing purposes.

Trump promised to bring the resort back into the black, but the resort kept struggling. In 2011, the resort came out with a new $28 million bond offering. The offering document shows that proceeds would be used to refund the roughly $25 million in outstanding 2000 and 2004 bonds, and the rest to pay for associated fees.

“These 2000 and 2004 bonds were going to default in 2011 at least as certainly as the 2011 bonds eventually defaulted, and Trump had no meaningful role in the issuance of the 2011 bonds,” said Craig McCann, principal at the Securities Litigation and Consulting Group, who has studied this case closely and has testified in other Puerto Rican municipal bond cases.

The Trump Organization’s “involvement didn’t lead to the $33 million debt that is now a part of the Puerto Rico government’s obligation,” said McCann, who said he did not vote for Trump or Hillary Clinton.

The offering document shows that the Puerto Rican government knew just how much money the resort was losing and that taxpayers were on the hook, even if it defaulted. The government lent the money anyway.

In 2015, the property filed for bankruptcy under its original name, Coco Beach Golf and Country Club. It was then sold for roughly $2 million to a private investment firm.

Ultimately, the Trump Organization walked away with more than $600,000 in revenue from the management and licensing deal. Eric Trump, the president’s son and an executive in the Trump Organization, said after the bankruptcy filing, “We made many millions of dollars on it but never invested a dime.”
(In the bankruptcy case, Eric Trump filed a claim for about $927,000 in unpaid fees on behalf of Trump Golf Coco Beach LLC, PolitiFact Florida found.)

The elder Trump shares some of the blame for failing to follow through on his promise to turn it around. But even then, the recession was a major factor in the property’s financial woes.

Moreover, it’s important to consider this case in the context of the bankruptcies that Trump’s companies filed since the 1990s as a direct result of Trump defaulting on interest payments to bondholders, through to his irresponsible borrowing and spending practices. In this case, it’s clear that Trump took on a difficult case and tried to pay back the original bonds that were about to default in 2011, but failed to do so — leaving Puerto Ricans with the same debt that they were on track to pay before Trump came along.

“There’s a lot to criticize him for, but not for this resort. You certainly can’t attribute any of the Puerto Rican debt to him,” McCann said.
 
Jul 2015
33,968
25,803
Florida
The problem was three fold , first he had no clue where it was and secondly he didn't know this country had territory's and thirdly he also didn't know what a territory was. He is the president of the right wing and the rest of us will just wait to have a leader after this man of hate is gone .
He more than ANYONE SHOULD HAVE KNOWN. He had a deal in PR. He had another FAILED property venture in Puerto Rico. He saddled Puerto Rico with $32,000,000 from his failed golf property in Puerto Rico. Yes, it had his name, his brand, his responsibility of due diligence.
 
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