Buffett, the wealthiest of these three men, dragged Trump on Monday by focusing on the 1995 public offering of Trump's Hotels & Casino Resorts — ticker symbol "DJT," of course.

He described what happened after the IPO:

"The next ten years, the company loses money every year. Every single year. He takes out $44 million in compensation during that period. If you, in 1995, when he offered this company, if a monkey had thrown a dart at the stock page, the monkey on average would have made 150%. But the people that believed in him, that listened to his siren song, came away losing well over 90 cents on the dollar. They got back less than a dime."

"I don't know another businessman that brags about his bankruptcies," Buffett added, in reference to Trump's past self-praise for his own "tremendous" use of bankruptcy. "You know, to tell you the truth, why not? I mean, it's his claim to stardom."

Now cue the Trumptardz bitching that the arch-capitalist Buffet is somehow a commie.

C'mon Trumptardz! Make us laugh!

Abraham Lincoln, the 16th President of the United States, filed for bankruptcy not just once, but twice. Lincoln's business adventures left him strapped with debt, along with loans from friends and family that he took seventeen years to pay off. Fortunately he persevered to leave a better legacy as a politician than a debtor. He was not the only President to meet with financial failure. The 18th President, Ulysses S. Grant, and the 25th President, William McKinley, both filed for bankruptcy as well.

Warren Buffett’s ‘big mistake’ ends up in bankruptcy court

Energy Future Holdings Corp. surprised just about nobody when the electric company filed for bankruptcy on Tuesday. The private equity-backed firm, which holds the distinction of being the largest-ever leveraged buyout, has been negotiating with creditors for some time now, and the filing was seen as just a matter of time.

Despite months of drawn out legal negotiations with creditors, the bankruptcy ensnares quite a few big-name investors. And until Warren Buffett sold his stake at a giant loss last year, the prominent investor was set to be one of them. In his latest annual letter to investors, the Berkshire Hathaway Inc. BRK.A BRK.B CEO had this to say:

“Most of you have never heard of Energy Future Holdings. Consider yourselves lucky; I certainly wish I hadn’t. The company was formed in 2007 to effect a giant leveraged buyout of electric utility assets in Texas. The equity owners put up $8 billion and borrowed a massive amount in addition. About $2 billion of the debt was purchased by Berkshire, pursuant to a decision I made without consulting with Charlie. That was a big mistake.

The Financial Fragility of The New York Times Company

For the first quarter of 2015, The New York Times Company reported a net loss of $14.4 million. The Times would have been profitable, last quarter, had it not incurred a $40.3 million pension settlement charge. This sizable settlement charge made me curious; so I went to The New York Times Company’s 2014 Annual Report and discovered, on page 10, the following statement: “Our qualified defined benefit pension plans were underfunded by approximately $264 million as of December 28, 2014.” On the same page, it was also mentioned that: “The underfunded status of our pension plans may adversely affect our operations, financial condition and liquidity.” When throwing in the Times’ participation in multiemployer pension plans, which subjects the Times to significant liabilities, then the Times is facing a financial double-whammy of declining print ad revenues and unsustainable pension liabilities.

What prompted me to dig deeper, into The New York Times Company’s pension woes, was a recent article written by Gary North. In this article, Dr. North stated the Times’ loss "…had to do with pensions and falling ad revenue. Pensions are inescapable sources of losses. You do not get rid of these. They just keep adding up. The more people you have on your staff, the more people who will retire, and the more people who retire, the greater are your losses. This is not some one-time write-off. This is a permanent condition. This is terminal cancer."

Although a declining trend in newspaper advertising revenue is a grave problem for the Times, the more immediate threat, to its financial health, pertains to the Times’ underfunded pensions. For example, at fiscal year-end December 28, 2014, the Times’ pensions were underfunded by $532.1 million (per page 80 of the 2014 Annual Report, qualified plans were underfunded by $264.3 million while non-qualified plan liabilities were $267.8 million). Keep in mind that these figures are carried on the balance sheet with $15.8 million accounted for as a current liability and $516.3 million as a long-term liability.

To give The New York Times Company’s pension liabilities some context, let’s look at the Times’ tangible equity position. At the end of the first quarter of 2015, the Times is reporting $829.7 million of equity. However, when applying some basic analysis to the Times’ balance sheet, tangible equity drops by over 50%. Deferred tax assets, for instance, are intangible and the Times has $315.7 million of such intangibles on its balance sheet. Goodwill is another type of intangible asset and the Times is carrying $108.6 million of goodwill as a long-term asset. These intangible assets total to $424.3 million; which leaves the New York Times with tangible equity of $405.4 million at the quarter ending March 29, 2015—a troubling picture when considering the magnitude of the Times’ pension liabilities.

Good Company Wrote:
-------------------------------------------------------
> Abraham Lincoln, the 16th President of the United
> States, filed for bankruptcy not just once, but
> twice. Lincoln's business adventures left him
> strapped with debt, along with loans from friends
> and family that he took seventeen years to pay
> off. Fortunately he persevered to leave a better
> legacy as a politician than a debtor. He was not
> the only President to meet with financial failure.
> The 18th President, Ulysses S. Grant, and the 25th
> President, William McKinley, both filed for
> bankruptcy as well.

very telling...

Good Company Wrote:
-------------------------------------------------------
> Abraham Lincoln, the 16th President of the United
> States, filed for bankruptcy not just once, but
> twice. Lincoln's business adventures left him
> strapped with debt, along with loans from friends
> and family that he took seventeen years to pay
> off. Fortunately he persevered to leave a better
> legacy as a politician than a debtor. He was not
> the only President to meet with financial failure.
> The 18th President, Ulysses S. Grant, and the 25th
> President, William McKinley, both filed for
> bankruptcy as well.

You're comparing Trump to Lincoln now??!! LMAO. Holy shit this is ripe. LMFAO

The only thing about Trump remotely close to Lincoln is that they both breath air.

Jesus you guys are fucking dopes.

GnPvp Wrote:
-------------------------------------------------------
> Warren Buffett’s ‘big mistake’ ends up in
> bankruptcy court
>
> Energy Future Holdings Corp. surprised just about
> nobody when the electric company filed for
> bankruptcy on Tuesday. The private equity-backed
> firm, which holds the distinction of being the
> largest-ever leveraged buyout, has been
> negotiating with creditors for some time now, and
> the filing was seen as just a matter of time.
>
> Despite months of drawn out legal negotiations
> with creditors, the bankruptcy ensnares quite a
> few big-name investors. And until Warren Buffett
> sold his stake at a giant loss last year, the
> prominent investor was set to be one of them. In
> his latest annual letter to investors, the
> Berkshire Hathaway Inc. BRK.A BRK.B CEO had this
> to say:
>
> “Most of you have never heard of Energy Future
> Holdings. Consider yourselves lucky; I certainly
> wish I hadn’t. The company was formed in 2007 to
> effect a giant leveraged buyout of electric
> utility assets in Texas. The equity owners put up
> $8 billion and borrowed a massive amount in
> addition. About $2 billion of the debt was
> purchased by Berkshire, pursuant to a decision I
> made without consulting with Charlie. That was a
> big mistake.


A couple of telling differences here...

Perhaps Buffet is circumspect enough to realize he should not run for Prez, and, note the last sentence...humble enough to recognize making a "big mistake".

You made a very valid comparison between the 2.

You showed how they are indeed very different men.

Well done, sir/ma'am!

Good Company Wrote:
-------------------------------------------------------
> Abraham Lincoln, the 16th President of the United
> States, filed for bankruptcy not just once, but
> twice. Lincoln's business adventures left him
> strapped with debt, along with loans from friends
> and family that he took seventeen years to pay
> off. Fortunately he persevered to leave a better
> legacy as a politician than a debtor. He was not
> the only President to meet with financial failure.
> The 18th President, Ulysses S. Grant, and the 25th
> President, William McKinley, both filed for
> bankruptcy as well.

All three Presdents were Republicans, go figure.

hahaha, comparing Trump to Lincoln???

First, Lincoln didn't brag about his bankruptcy during any of his campaigns. It was something he was sad and embarrassed about.

And 19th century bankruptcy was *entirely* different than the Chapter 11 protections afforded to Trump. Lincoln actually got sued and had his assets seized, and then was forced to pay off his creditors. They actually took his horse from him!

Trump didn't do any of that. He tanked his businesses and walked away with tens of millions of dollars while many of his creditors got nothing.

And he's proud of it.