Updated April 1, 2007 Corruption & Self-Dealing
Major Abuse of Power
Trump Airlines, Trump Steaks, Trump Magazine: Serial Business Failures
Trump purchased the Eastern Air Shuttle for $365 million in 1988 and renamed it Trump Shuttle. Unable to make debt service payments on the junk bonds used to finance the purchase, Trump lost control of the airline to creditors in 1992 — it operated for only four years. Trump Steaks were sold through The Sharper Image beginning in 2007 and discontinued within two months due to poor sales. Trump Magazine was launched in 2007 and folded within five months. Trump Vodka was launched in 2005 and discontinued by 2011. The pattern across these ventures was consistent: launch with celebrity promotion, heavy licensing of the Trump name, and eventual failure attributed to market conditions.