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Drudge Retort: The Other Side of the News
Thursday, May 19, 2022

Donald Trump's business failings - and the number of lawsuits he currently faces - are laid bare in damning detail in the S-4 registration statement that Digital World Acquisition Corp., the special-purpose acquisition company which is merging with Trump's Trump Media & Technology Group Corp. to take it public, filed with the U.S. Securities and Exchange Commission on Monday. Multiple risk factors associated with doing business with Trump are highlighted in the filing because, it says, the company's success depends largely on his reputation and popularity.

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Of Trump's lengthy history of bankruptcies, it states:

"Entities associated with President Trump have filed for bankruptcy protection. The Trump Taj Mahal, which was built and owned by President Trump, filed for Chapter 11 bankruptcy in 1991. The Trump Plaza, the Trump Castle, and the Plaza Hotel, all owned by President Trump at the time, filed for Chapter 11 bankruptcy in 1992. THCR, which was founded by President Trump in 1995, filed for Chapter 11 bankruptcy in 2004. Trump Entertainment Resorts, Inc., the new name given to Trump Hotels & Casino Resorts after its 2004 bankruptcy, declared bankruptcy in 2009. While all of the foregoing were in different businesses than TMTG, there can be no guarantee that TMTG's performance will exceed the performance of those entities."

Of failed license agreements with Trump, it notes:

"Trump Shuttle, Inc., launched by President Trump in 1989, defaulted on its loans in 1990 and ceased to exist by 1992. Trump University, founded by President Trump in 2005, ceased operations in 2011 amid lawsuits and investigations regarding the company's business practices. Trump Vodka, a brand of vodka produced by Drinks Americas under license from the Trump Organization, was introduced in 2005 and discontinued in 2011. Trump Mortgage, LLC, a financial services company founded by President Trump in 2006, ceased operations in 2007. GoTrump.com, a travel site founded by President Trump in 2006, ceased operations in 2007. Trump Steaks, a brand of steak and other meats founded by President Trump in 2007, discontinued sales two months after its launch. While all these businesses were in different industries than TMTG, there can be no guarantee that TMTG's performance will exceed the performance of these entities."

In both cases, the statement warns there are "no assurances" that the new company will not go the same way as Trump's past scuttled ventures.

The filing also details the "numerous lawsuits and other matters that could damage his reputation, cause him to be distracted from the business or could force him to resign from TMTG's board of directors."

Is there a more prolific failure in America than Donald Trump? The filing forgot to add that he's the only former POTUS to ever lose the popular vote in two consecutive elections. Donnie Fail is truly the king of losers.

So what does that say about all of the people who believe the exact opposite of reality?

#1 | Posted by tonyroma at 2022-05-19 06:39 AM | Reply | Newsworthy 2

The listing of the man's failures is hilariously excruciating.

#2 | Posted by Doc_Sarvis at 2022-05-19 07:28 AM | Reply

This is the POS Americans living in sewers consider a living god.

#3 | Posted by Zed at 2022-05-19 09:11 AM | Reply

I missed that this was already posted. drudge.com

#4 | Posted by qcp at 2022-05-19 09:25 AM | Reply

Anyone that invests money in anything this lifelong failure does should just consider lighting their money on fire as a better use for it.

So what does that say about all of the people who believe the exact opposite of reality?

"I LOVE THE POORLY EDUCATED!"

- Donnie the Failure.

#5 | Posted by Nixon at 2022-05-19 11:16 AM | Reply

Actually, it's only a partial list.

#6 | Posted by LegallyYourDead at 2022-05-19 11:22 AM | Reply

I can understand people who voted for him the first time out of fear her what have you.

But after years of horrific blunders and malicious activity capped off by a global pandemic that we could have kept off the continent those who voted for Trump a second time can go duck themselves.

#7 | Posted by Tor at 2022-05-19 11:42 AM | Reply

Those pesky SEC disclosure forms can be a real bitch, eh?

OCU

#8 | Posted by OCUser at 2022-05-19 12:35 PM | Reply

Maybe this is why Trump is blaming Google for Truth not having an Android app yet. He's trying to hide the fact that he is a complete fraud from his business partners.

#9 | Posted by johnny_hotsauce at 2022-05-19 03:08 PM | Reply

...a global pandemic that we could have kept off the continent...

#5 | POSTED BY TOR

Bad as Trump was, keeping COVID out of America was never possible without some extreme consequences that Americans never would have supported.

#10 | Posted by Whatsleft at 2022-05-19 05:28 PM | Reply | Funny: 1

Poor forest that died for the paper on that list.

#11 | Posted by Alexandrite at 2022-05-19 10:06 PM | Reply

There is a method to this publication of Trump's failures.

The downside for future shareholders in this grudge match between Trump and Twitter is that nobody can claim they were misled. So, as it's clearly stated, invest at your own risk . . . with the thought in mind that everything Trump touches dies . . . and the money you invested is going to pay for the funeral.

This time the scam is a ploy to help Trump get elected in 2024. Should this thing get off the ground, it's an unlimited venue for the spread of false information, propaganda, worn out conspiracy theories, corrosion and blackmail. In other words, Trump's private scorched earth policy.

And the combination of Donald Trump and Devin Nunes at the helm is a recipe for corruption, dirty dealing, abuse of capital assets for self gratification . . . and, of course, Trump's personal favorite pastime . . . lawsuits, lawsuits, lawsuits! All on your dime.

#12 | Posted by Twinpac at 2022-05-20 03:21 AM | Reply

like shooting a pig in a barrel

#13 | Posted by RightisTrite at 2022-05-20 06:36 AM | Reply

Hasn't everyone figured out that everything Trump touched dies?

#14 | Posted by RJSquirrel at 2022-05-20 07:57 AM | Reply

We NeEd A bUSiNeSs MaN fOr PReZniNT!!!

-mouthbreathing idiot righties

#15 | Posted by jpw at 2022-05-20 05:29 PM | Reply

Trump's been a colossal failure his entire life.

This was well know about him by anyone paying attention.

But. Conservative were impressed by his lies, xenophobia and golden hue.

#16 | Posted by ClownShack at 2022-05-20 05:39 PM | Reply

Our culture is obsessed with failure like it is a disease. The universe is imperfect. Your vision is going with every day you live. The same for hearing. Failing at a bunch of dumb business ideas can happen for trump because his dad gave him dirty cash and did not pay taxes. Failing on anything is a chance to learn. Being alive lets you take a second go. Be alive!

#17 | Posted by Brennnn at 2022-05-21 03:53 AM | Reply

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