The experience of failure is not something totally foreign to someone like Donald Trump who has experienced many ups and downs throughout his career. For this moment the ups far outdo the downs but nevertheless, Donald always keep a wary eye on its ugly possibility reemerging.
He is one of those people who has managed to pick himself up from virtual complete bankruptcy not once but more than a few times. In 1988 Donald bought into the airline business, whereby he purchased not only a fleet of airlines but also the landing rights to three different cities. The hefty price he paid was mind boggling but he anticipated huge profits for his endeavor.
Unfortunately his airline dream came to a rude halt when his luxury facelifts were not well accepted by the general public who make up the bulk of travelers using these particular line routes. From maple wood veneers to floors that shone with beauty and luxury these new fixtures did not impress those using the airlines. Even the chrome seat belts latch and the equally richly gold colored bathroom accessories did little to encourage travelers who were used to such luxuries to consider using the routes this airline serviced.
Adding to these woes was the negative impact of high fuel charges, which were brought on by the pre Gulf War era. With all these challenges to deal with, little time was allowed for the business to actually take off and turn a profit. Donald eventually had to give it up as his debts mounted.
Another spectacular failure which again brought Donald into the limelight in less than ideal circumstances is the third bankruptcy filing proceedings of the Trump Entertainment Resorts Inc. the first time this particular business investment had to file for bankruptcy was back in 2004, when it was then called Trump Hotel & Casino Resorts. Even with a personal bail out of $72million to keep it from sinking into oblivion, another bankruptcy filing was initiated in 2009. By then the business entity had changed its name to Trump Entertainment Resorts Inc.
Even in this particular venture new seemingly unconventional steps have unfolded as bankruptcy proceedings continue. The use of Chapter 33 is highly unusual, as is the three separate filings of Chapter 11 protection allowances. Donald’s immense leverage and willingness to take ridiculously huge risks have allowed him to continually survive in the turbulent world of business. Donald never does anything in small measures, as he considers it a complete waste of his time. Therefore any fall from grace would take on an equally huge magnitude, although this particular fact never seems to falter Donald.
His famous tag line of “You’re fired” has never been used on him, which is quite hilarious considering the amount of spectacular price tags his failures seem to take on. As with all his endeavors, Donald does everything in style. From launching his business ideas to sprucing up the ones he takes over, everything is done with opulence and luxury almost as if Donald is incapable of anything else.