From our archives, but still on point:
Donald Trump’s Atlantic City casino operation filed bankruptcy, following in the steps of his other entities.
What does that mean to ordinary folk here on the West Coast struggling with bills and the grind of staying afloat month to month?
Why does this bit of news show up here on a site devoted to consumer and small business issues?
It’s this: Trump’s empire is run by highly paid, highly educated business people, who, even backed by Trump’s name and draw, can’t make a go of this business.
That team of management professionals couldn’t keep the casino out of bankruptcy.
Then why is it that ordinary families agonize about filing bankruptcy?
Why do they think that it’s a blot on their honor or their intelligence when their finances get away from them?
Is it really smart to ignore the gravity of your financial situation and make minimum monthly payments forever?
You tell me.
Image used courtesy of Flickr and jamvitter.