What's funny as this is exactly what you're supposed to do. Let's say some people come to you with a business venture, but it's risky (even riskier than a typical business). You would create a new corporation so you and your business partners can pool their money as shareholders, then pursue the venture through that corporation. If it works out, great, the shareholders (i.e. you) have rights to the profit. If it doesn't, no problem, Chapter 11 allows you to split whatever assets are left over your creditors and shareholders, but your personal assets, and other businesses, are protected. It's amazing how many people don't know how this works, or that Trump's win ratio is actually much higher than the typical entrepreneur.
Typical entrepreneurs have about a 20% success ratio (80% of businesses fail in the first 5 years). However Trump has a lifetime 95-98% success ratio, depending on how you judge what a Trump business is.
It was not his bread and butter. And having to go Chapter 11 is not a goal people should be aspiring to reach. It's not a good sign of success.
The point is that he owns over 500 businesses and ONLY 6 of those have ever gone bankrupt over the course of his 50+ year career. That's barely over 1% of his companies. The majority of people cannot even run 1 company, yet almost 99% of his companies were great successes. I would love to see someone who makes a bad business decision less than 2% of the time. And his decisions weren't even necessarily bad ones - those companies were just pilot projects to gauge interest; and he had plenty of money to spare on venture and exploration, and exploring that path just didn't happen to lead to a good place so he closed it out.
Yes, but it looks like the private equity debtors just gobbled it up. I'm sure they took a huge chunk of the other shareholders equity to do it and I'm sure that the company is still saddled with debt and they'll figure out a way to chop it up further and fuck the SJW founder out of his company.
A theater restructuring their debt at the halfway point to where we expect this thing to eventually end (March 2022) is not a good sign. Especially when they state they’re keeping all the restrictions in place that led to their Chapter 11 filing.
Chapter 11 works most of the time, but it’s really a gamble in the service industry at this point.
Chapter 11 is what you do to restructure your debt, doesn't mean they are going out of business.
People usually stop at bankruptcy and assume.
That's what made people say Trump was a bad businessman- Chapter 11 was his bread and butter
What's funny as this is exactly what you're supposed to do. Let's say some people come to you with a business venture, but it's risky (even riskier than a typical business). You would create a new corporation so you and your business partners can pool their money as shareholders, then pursue the venture through that corporation. If it works out, great, the shareholders (i.e. you) have rights to the profit. If it doesn't, no problem, Chapter 11 allows you to split whatever assets are left over your creditors and shareholders, but your personal assets, and other businesses, are protected. It's amazing how many people don't know how this works, or that Trump's win ratio is actually much higher than the typical entrepreneur.
Typical entrepreneurs have about a 20% success ratio (80% of businesses fail in the first 5 years). However Trump has a lifetime 95-98% success ratio, depending on how you judge what a Trump business is.
The man is an absolute legend.
It was not his bread and butter. And having to go Chapter 11 is not a goal people should be aspiring to reach. It's not a good sign of success.
The point is that he owns over 500 businesses and ONLY 6 of those have ever gone bankrupt over the course of his 50+ year career. That's barely over 1% of his companies. The majority of people cannot even run 1 company, yet almost 99% of his companies were great successes. I would love to see someone who makes a bad business decision less than 2% of the time. And his decisions weren't even necessarily bad ones - those companies were just pilot projects to gauge interest; and he had plenty of money to spare on venture and exploration, and exploring that path just didn't happen to lead to a good place so he closed it out.
Trump is what we need because the usa is gonna go bankrupt and he knows how to navigate that shit.
People usually are stupid.
Yes, but it looks like the private equity debtors just gobbled it up. I'm sure they took a huge chunk of the other shareholders equity to do it and I'm sure that the company is still saddled with debt and they'll figure out a way to chop it up further and fuck the SJW founder out of his company.
A theater restructuring their debt at the halfway point to where we expect this thing to eventually end (March 2022) is not a good sign. Especially when they state they’re keeping all the restrictions in place that led to their Chapter 11 filing.
Chapter 11 works most of the time, but it’s really a gamble in the service industry at this point.