May
21
2009
Donald Trump Is Bankrupt BUT Has Funds To Buy A Country Club
By Stephanie Wei under General

This morning I received an email (probably the best golf-related one I’ve gotten) from an anonymous source. I found the anecdote pretty entertaining as I think you will too:

Donald Trump has bought the club we belong to in Washington, a nice family club which he hopes to ramp up into a major fancy golf course, while raising the fees on everyone. It’s amusing and appalling, (his get rich quick books are on sale in the pro-shop) though also, maybe, on some level good. […] For example, he’s instituted a valet parking program, so you can no longer  take your own clubs to and from your car with a golf cart.  There are now scores of valet parkers hanging around the entrance — whom most members try to avoid by parking far away from the clubhouse. Last weekend, when the range ran out of rangeballs, many joked that all the range employees must be busy  parking the cars.

The aforementioned golf club was formerly called Lowes Island. After Donald Trump’s recent acquisition, it was renamed to TRUMP NATIONAL GOLF CLUB, WASHINGTON D.C. Go figure.

It appears that the Donald decided that purchasing a golf course was a savvy business decision. (He didn’t disclose the purchase price, but he “paid a lot.”) Umm…With all due respect, sir, you filed for Chapter 11 bankruptcy earlier this year – the third time in the history of Trump Organization, no less. To boot, the Company “conserved” money by skipping a $53.1 million bond payment at the end of 2008. Sure, it wasn’t the golf sector; rather it was Trump Entertainment Resorts Inc, the casino operator. Apparently the gambling industry has been effected by the recession. Get out of here!

So, it’s a really great time to buy a golf course and transform it into yet another one of his “gated communities.”   And it’s an even better time to make members pay more for extravagant unnecessary luxuries amenities like valet parking. Correct me if I’m wrong, but hasn’t the golf industry been suffering these days? I am going to throw it out there and say that even country club members have been hit financially. Or did I miss the memo?

My favorite part is that Trump’s “Get Rich Quick” books are on sale in the Clubhouse. I was going to say that perhaps he saw this purchase as a long-term investment. Too…Many…Jokes…

Then again, what do I know? I’m just a blogger. He’s Donald Trump – the super successful multi-millionaire, not to mention ethical businessman.