Davin News Server

On Thu, 17 Apr 2025 21:27:48 -0500,  -hh says...  

> 
> AlleyCat <katt@gmail.com> wrote:
> > 
> > On Thu, 17 Apr 2025 13:40:44 -0500,  -hh says...  
> > 
> >> 
> >> FYI, quick follow-up:
> >> 
> >> Goldman Sachs is now reporting that the USA?s tourism revenue loss will be
> >> $90B just in 2025.
> > 
> > Is that all?
> > 
> > Florida:
> > "In 2023, Florida's tourism industry generated a total revenue of $131
> > billion from visitor spending. This amount reflects a 5% 
> > increase over the previous year, highlighting the state's continued
> > appeal as a travel destination."
> > 
> > So... Florida might lose, what... 10 billion, tops?
> 
> GS?s estimate is their initial one; it will invariably be updated as new
> data arrives (such as the -30% drop in import).
> 
> 
> > We'll be JUST fine, thank you very much.
> 
> FL Real Estate sell-off bubble now quite overt:
> 
> https://x.com/newslambert/status/1912894546205200728?s=61&t=BwOr14HsTzyD0gnJjDCtLA

1.7%

LOL

We're all going to lose our houses!!!!!
 
> > Trump did not "go bankrupt". That is a misnomer.
> > 
> > Billionaires bankrupt their own companies on a basis a bit more frequently than you think.
> > 
> > THAT'S the cost of doing business. 
> 
> No, what?s typical is to shut down the incorporation and create new ones
> without incurring unnecessary additional administrative expenses of letting
> the courts meddle.

So... YOU'RE a billionaire?

If you know what to and not to do, you SHOULD be... right? 
 
> 
> > Trump's companies declaring bankruptcy is not a new thing.
> > 
> > I think Trump's 6 bankruptcies is pretty good, considering this:
> > 
> > The number of companies that go bankrupt each year is approximately
> > 22,000. That's how many business bankruptcies were filed in 
> > 2021, according to the American Bankruptcy Institute, so there were
> > probably more in the following years when Biden's economy 
> > went to shit with near double-digit inflation and the highest gas prices, ever.
> 
> Except?

> Most businesses are small businesses & don?t last 5 years.

Yes... Trump's businesses are rather large comparatively, but THAT just shows us Trump's willing to gamble and shows us that he's 
willing to take risks that others don't and never achieve like he has.

Funny, how you snipped the businesses that failed and were NOT "small".

And that crack about Trump sitting on his inheritance?

That's not how he rolls.

If he had?

No Trump Towers.

No Mar-a-Lago.

No National Doral.

No Trump Building.

No Trump Park Avenue.

No Trump International Hotel.

No Trump Winery.

https://realting.com/news/what-real-estate-donald-trump-really-owns

=====

Companies Directly Owned or Founded by Billionaires That Went Bankrupt:

FTX (founded by Sam Bankman-Fried): This major cryptocurrency exchange filed for Chapter 11 bankruptcy in November 2022 following 
a severe liquidity crisis and allegations of misuse of customer funds. Bankman-Fried's net worth plummeted from billions to 
practically zero.

Theranos (founded by Elizabeth Holmes): Once valued at billions, this health technology company, promising revolutionary blood 
tests, faced massive fraud allegations. Holmes was convicted, and the company went bankrupt in 2018.

Kingfisher Airlines (formerly owned by Vijay Mallya): Indian airline owned by the liquor tycoon Vijay Mallya, faced significant 
financial difficulties and eventually ceased operations. Mallya himself faced legal issues and accusations of defaulting on large 
loans.

EBX Group (founded by Eike Batista): Brazilian conglomerate in mining, oil, and energy, founded by once Brazil's richest man, 
Eike Batista. The group faced a rapid decline due to a failure to meet production targets and an adverse economic climate in 
Brazil, leading to Batista's bankruptcy filing in 2013.

Quinn Group (founded by Sean Quinn): Irish industrial conglomerate founded by Sean Quinn. The group accumulated massive debts, 
particularly to Anglo Irish Bank, leading to Quinn's personal bankruptcy in 2011.

Stanford Financial Group (founded by Allen Stanford): Allen Stanford's financial empire was revealed to be a massive Ponzi 
scheme, leading to its collapse and his conviction in 2012.


Companies with Significant Billionaire Backing That Went Bankrupt:

Hostess Brands (once partly owned by C. Dean Metropoulos): The maker of Twinkies and other iconic snacks went bankrupt twice, in 
2004 and again in 2012, before being bought out and revived by investors, including billionaire C. Dean Metropoulos.

Marvel Entertainment (once backed by Carl Icahn): Before its successful foray into movies, Marvel filed for bankruptcy in 1996 
due to a downturn in the comic book and trading card markets. Investor Carl Icahn played a significant role during this period.

99 Cents Only Stores (formerly owned by Ares Management and Canada Pension Plan Investment Board): While not solely owned by 
individual billionaires, these entities managing billions went bankrupt in 2024, leading to the closure of all their stores.

Sears/Kmart (formerly chaired by Eddie Lampert): While Eddie Lampert is a billionaire, the decline and bankruptcy of Sears 
Holdings (which included Kmart) was a long process. Sears filed for bankruptcy in 2018.

Revlon (majority owner was Ronald Perelman): The cosmetics giant filed for bankruptcy in 2022, citing supply chain issues and 
debt.

Americanas (backed by Jorge Paulo Lemann and other billionaires): This major Brazilian retailer, backed by a group of 
billionaires, including Brazil's richest man, Jorge Paulo Lemann, became embroiled in a significant accounting scandal and filed 
for bankruptcy in 2023.

FTX (Sam Bankman-Fried): As mentioned earlier, while founded by a billionaire, it also attracted investments from other high-net-
worth individuals and institutions.

===============================================================================

"Trump Derangement Syndrome" Is a Real Mental Condition

All you need to know about "Trump Derangement Syndrome," or TDS.

"Trump Derangement Syndrome (TDS) is a mental condition in which a person has been driven effectively insane due to their dislike 
of Donald Trump, to the point at which they will abandon all logic and reason."

Justin Raimondo, the editorial director of Antiwar.com, wrote a piece in the Los Angeles Times in 2016 that broke TDS down into 
three distinct phases or stages:

"In the first stage of the disease, victims lose all sense of proportion. The president-elect's every tweet provokes a firestorm, 
as if 140 characters were all it took to change the world."

"The mid-level stages of TDS have a profound effect on the victim's vocabulary: Sufferers speak a distinctive language consisting 
solely of hyperbole."

"As TDS progresses, the afflicted lose the ability to distinguish fantasy from reality."

The Point here is simple: TDS is, in the eyes of its adherents, the knee-jerk opposition from liberals to anything and everything 
Trump does. If Trump announced he was donating every dollar he's ever made, TDS sufferers would suggest he was up to something 
nefarious, according to the logic of TDS. There's nothing - not. one. thing. - that Trump could do or say that would be received 
positively by TDSers.

The history of Trump Derangement Syndrome actually goes back to the early 2000s - a time when the idea of Trump as president was 
a punch line for late-night comics and nothing more.

Wikipedia traces its roots to "Bush Derangement Syndrome" - a term first coined by the late conservative columnist Charles 
Krauthammer back in 2003. The condition, as Krauthammer defined it, was "the acute onset of paranoia in otherwise normal people 
in reaction to the policies, the presidency - nay - the very existence of George W. Bush."