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politics and politicians Title: Trump Baja venture leaves buyers high and dry Deposits totaling $32.2 million are lost in the collapse of the celebrity developer's hotel-condo project. SAN DIEGO — Stephen and Linda Drake cast aside concerns about owning property in Mexico because they believed in Donald Trump. The Southern California couple made a $250,000 down payment on a 19th-floor oceanfront condo in Trump Ocean Resort Baja in 2006 before the first construction crew arrived. But admiration for the celebrity developer and star of "The Apprentice" has now turned into anger and disbelief as Trump's luxury hotel-condo plan collapsed, leaving little more than a hole in the ground and investors out of their deposits, which totaled $32.2 million. "I can't even stand to see Trump's face on TV," said Linda Drake, a psychologist whose husband is a commercial airline pilot and financial advisor. Investors were told last month that their money was spent and that they wouldn't get a penny back. A single mother in suburban Los Angeles lost $200,000 and won't be able to send her sons to private universities. A Los Angeles-area businessman lost a deposit of more than $1 million on four Trump units, including two penthouses. The project's collapse comes at a delicate time for Trump, whose casino company, Trump Entertainment Resorts Inc., filed for bankruptcy protection last month. He also is embroiled in a lawsuit to avoid paying debt on the struggling Trump International Hotel and Tower in Chicago. Trump and his children heavily promoted the northern tip of Mexico's Baja California coast. He sold 188 units for $122 million the first day they went on a sale at a lavish event in a downtown San Diego hotel in December 2006. "I went out and saw this site, and I was blown away by it," Ivanka Trump said in June 2007. "From the minute I saw it, it was a deal I had to do." The location was a contrast to more-expensive Mexican coastal markets such as Puerto Vallarta, Los Cabos and Cancun, she said. The Trumps remained buoyant even as the U.S. housing market began to crumble. Ivanka Trump assured buyers in an October 2007 newsletter that all Trump projects were immune to a slowdown. "In characteristic Trump fashion, Trump Ocean Resort Baja will be the best of the best, and consequently always in demand," she wrote. All that remains of Trump Baja is a highway billboard with a large photo of Donald Trump that advertises condos for sale. It hovers over a closed sales center and showroom, a paved parking lot, a big hole that cuts a wide swath, drainage pipes and construction equipment.
Poster Comment: This is how The Donald does bidnez. Post Comment Private Reply Ignore Thread Top • Page Up • Full Thread • Page Down • Bottom/Latest Begin Trace Mode for Comment # 24. An old story. And plenty of info is available and angry investors to dish some dirt on Teh Donald. Tellingly, there is no mention of this in the libmedia and on media outlets on the Right like Fox News or Rush Limbaugh. You can bet all these old stories, Trump's adulteries, his bait-and-switch name-brand con games, will be front page news once his monstrous ego has succeeded in wrecking the GOP enough to ensure the election of Hitlery. It turns out the GOP base is just as stupid as the GOP establishment. What I can't understand is why Trump's opponents aren't willing to run attack ads with these investors who got screwed in this (and other) Trump schemes. They have every incentive to expose him on these scandals but haven't done so yet. And none of them have comparable skeletons in their own closet.
#3. To: TooConservative (#1) This is called "taking a risk to make a lot of money". These buyers could have waited until the condo was built. Of course, then they would have paid a lot more. But they chose to gamble to get it at a lower price. They lost. Now they want their money back?
#4. To: misterwhite (#3) (Edited) Now they want their money back? Trump, his children and their cronies took in hundreds of millions of dollars. And there is nothing at all to show for it. Nothing go built. That is outright fraud. You should realize that this non-issue will become the story of the century for libmedia once Trump has wrecked the GOP entirely as a conservative party or, better yet, gotten its nomination.
#17. To: TooConservative (#4) (Edited) Trump, his children and their cronies took in hundreds of millions of dollars. Now,now! You are NOT saying the "smartest man in the world" that flies around with the world with a 6 pack of lawyers should have known it was illegal for Foreigners to own land in Mexico,are you? That would mean he KNEW he was lying when he "sold" them the property because HE DIDN'T OWN ANY PROPERTY THERE TO BE SOLD. HEY! If you can't trust a man like that to mean what he tells you when running for public office ("selling" himself),who can you trust?
#18. To: sneakypete (#17) ("selling" himself),who can you trust? Are you trying us we should take a fag in a trash can seriously? That is funny.
#24. To: A K A Stone (#18) Are you trying us we should take a fag in a trash can seriously? Are you now claiming Trump is a homo?
Replies to Comment # 24. No Oscar.
End Trace Mode for Comment # 24. Top • Page Up • Full Thread • Page Down • Bottom/Latest |
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