Donald Trump, there is no business where he does not lend a hand. He also got the results of these. Almost all of his initiatives have fallen. Nevertheless, there was always an attempt to start afresh.
In today’s article, we are going to know about
Donald Trump’s unsuccessful businesses.
From 1982 to 1986, a club called ‘New Jersey General’ existed. The club that used to play only the United States Football League. In 1984, Trump bought the club in December for $ 6 million. But at that time there was not much chance of showing the club’s game on TV.
In view of the financial losses resulting from this, Trump sought to take their game out of the spring and into the autumn. So they can play in the style of NFL games.
According to him, the USFL is far more popular than the NFL. But the NFL is losing their finances.
That’s why he encouraged league officials to sue the NFL. Trump began to rave about all the activities of the case. This is a $ 1.7 billion compensation case!
Almost all of the USFL money allocated to the lawsuit is exhausted. But Trump believed he would win the case. The NFL will be forced to buy teams in the USFL for negotiations.
This is how Trump will look at profits. But the NFL did not buy any team by grounding such a plan.
In 1984, a jury named Patricia Sibelia took over to settle the case. He and his fellow jurors called Trump an arrogant man.
According to them, Trump is, in fact, trying to buy a lower-priced team in the NFL under the deal. But every team playing in this league is worth a billion dollars.
But the case won dramatically over Trump on Air. But by then the league had started to break down. Due to breach of contract with the players and the meaning of the league, all USFL activities were terminated in 1984. As a result, Trump broke the dream of many people and suffered losses.
Tour de Trump.
Despite facing a loss in soccer in 1986, Trump was not disappointed. This time, he thought, “Tour de France” should be followed by cycling. He wanted to introduce this game as a name of ‘Tour de Trump!’.
As was the case in France, viewers would rather watch cycling on TV than watch live sports. As a result, the tournament received millions of dollars in sponsorship.
After everything is done, the cycling race is started. From Albany, New York to Atlantic City, New Jersey, huge tracks were arranged.
Trump also announced huge cash prizes for good play in the tournament. As a result, many cyclists from around the world participated in tournaments. Arrangements were also made to broadcast the games on NBC to attract American audiences.
second tournament was held in 1989. Trump invested there. But in the end, Trump gain no profit. As a result, he lost interest in the tournament. After Trump, the DuPont family took over the tournament. Due to insufficient profit, they also stopped the tournament in 1996.
In 1988, he bought a company called Eastern Airlines. Trump eliminated Boeing’s name from the 21 aircraft in the Boeing-727 series.
The funny thing is, even after doing so much, Trump didn’t understand anything about the airlines. He had no idea about fuel price, airline maintenance cost or even ticket price.
Still, he dared campaign for air travel. In 2011, a travel writer describes his travel experience with Trump Airlines. He writes,
“The airline staff is sincere. Moreover, the foods were high quality. But I do not understand why Trump has arranged so many grand jets that look absolutely pointless.”
In the end, Trump also suffered losses in the airlines business. He took out a $ 245 million loan at the time of buying the company. But if the company doesn’t show a profit, the bill adds another $ 1 million.
His friends raised their hands during Trump’s fate. Still, he was not saved. Asked about the airline business experience, Trump said, “It’s a tough business, but I’ve done well enough as a newcomer!”
When Trump thought about starting a university in 2005, he had gained enough knowledge of the business world. As a result, Trump established a university to teach real estate business.
The talk was that the best real estate gurus would come there to teach. In fact, all the teachers who have no contact with real estate! They did not have any syllabus planned.
Moreover, permission of the proper authority was not taken for the establishment of the University. Finally it was found that the students had wasted $ 35,000 water. In comparison they learned nothing in the real estate business.
Since its inception, the university has been charged with three cases. The New York Attorney General filed a fraud lawsuit against the University in 2013.
In the case, he claimed that all the students who have been admitted here must pay back the money. Trump’s lawyers urged the court to seek alumni opinions.
So that they can prove that the university is on the right track. The university administration sends letters to about 7,000 students. But only two responded to the letter. Those who have said in writing, the education here is to build their career.
Trump has not been able to keep up with the legal battle since he was busy with the presidential election. Trump was ordered to pay $ 25,000 in the lawsuit. The amount will be refunded to about 6,000 students.
Trump, however, claims that the verdict in the case is hostile to him. The judge was a Mexican. He deliberately presented Trump to the nation as guilty.
The Trump Network.
ACN – a digital phone service company, was operated by Trump. At the company’s product promotion conference, Trump urged everyone to buy more phones.
One of the company’s dealers narrates his success story at that conference. Later, the dealer is a drug dealer! The man was involved in money laundering after selling the phone.
At one time, most of the dealers in the company lost their investment money and became helpless. Their annual income was just $ 700. Many such discussions are started indoors.
But Trump continued to do so without paying attention. According to him, this business is more profitable than the real estate business! The policy that the company carried out on its own was not legal in the United States. Because this kind of business creates an opportunity to deceive people.
In the meantime, the purpose of the company becomes clear to the people. ACN was first sued from the state of Montana, USA.
Many cases were filed from many states in view of them. But the court did not find any evidence to seize customers’ money. As a result, the company got a discount on that journey.
Analysts believe that Trump did not actually launch the company with a mindset to do so. Trump originally wanted to open a multi-level marketing company (MLM).
He had plans to build a large network by providing vitamin supplements to its customers. Trump wants to contribute to a revolutionary change in the American economy.
But without enough response from the people, the company could not survive the end of the plan. Just two years after launching in the year 20, the company cut its operations.