Tuesday, February 23, 2016

Donald Trump's Bill Paying Ways



NYT and Rudy Giuliani fill us in:

From NYT:
The major banks, for their part, say they are leery of lending to him after having lost millions of dollars on past deals. Lawyers and contractors he has hired in the past say he is slow to pay his bills, and often shortchanges them...

Besides the legal battles, the way Mr. Trump has managed business relationships has been a source of friction.

One contractor, who spoke on the condition of anonymity for fear of being sued by Mr. Trump, said Mr. Trump underpaid on one large job, at one of his towers, by almost $100,000. The contractor opted not to sue, estimating the litigation would cost more than the losses. The two parties have not done business since.

Lawyers who spoke to The Times had similar stories.

Mr. Trump revels in his reputation, boasting about not paying some of his outstanding legal and construction bills. “If they do a bad job, they have to suffer,” he said. “If they overbill me or if they don’t do a good job, I take plenty of time to pay them and I negotiate with them.”
Here's Rudy Giuliani via WSJ:
Asked by an audience member to tell his best story about Mr. Trump, with whom the former mayor has been friendly for decades, Mr. Giuliani, a former prosecutor who started his own law firm, said he never represented the businessman because Mr. Trump tends to haggle over fees he owes.

“Donald, I never represented him, because he considers a legal bill the first offer in a negotiation,” Mr. Giuliani said. “You don’t want to represent somebody like that.”

   -RW

4 comments:

  1. Hard to fault Trump for being an aggressive negotiator. Of course if he becomes unprofitable to deal with it can hurt his future business transactions. Maybe that's why he launched into politics.

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  2. At least he might stop paying creditors if he gets elected. If you were dumb enough to loan money to the US government you deserve to get stiffed.

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  3. Hmm, I wonder how he get's any contractors to do business with him at all if this is so well known, says the curious guy who doesn't trust the NYT's, especially in an election year.

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