8 Epic Business Failures with Donald Trump's Name on Them
On Tuesday, Donald Trump threw his name into the ring as an official candidate for president in 2016. "I’m using my own money. I’m not using the lobbyists. I’m not using donors," Trump explained of his candidacy, before adding a heaping dose of trademark bluster: "I don’t care. I’m really rich."
As for why he's running, Trump pointed to his business sense and declared, "We need somebody that can take the brand of the United States and make it great again."
Yet time and again over the years, the Trump brand has been featured in many embarrassing high-profile flops in the business world. Here are some of the misfires attached to the "Trump" name.
In 1989 the Eastern Air Shuttle was reborn as the Trump Shuttle, complete with a large "T" on the tails of the planes and—no joke—"gold lavatory fixtures." The goal was to create a top-notch luxury flight service—they even paired with a company that rented laptops, which was cutting edge at the time—but the operation was hemorrhaging cash within weeks and was completely out of business by 1992.
Trump: The Game
The original catchphrase for the Monopoly-like Trump board game introduced in 1989 was the Trumpism "It’s not whether you win or lose, but whether you win!” Sales were underwhelming, to put it mildly. But after Trump became a cultural phenomenon in the reality TV show "The Apprentice," the game was back on the market featuring a new expression: "You're fired!"
"The Trump Brand evokes elegance and TRUMP Magazine will reflect the passions of its affluent readership by tapping into a rich cultural tapestry," explained a 2007 press release introducing Trump Magazine. A year and a half later, the quarterly periodical, billed as a "highly anticipated 'must read' among VIPs and influencers," had ceased publication.
Billed as his "biggest venture to date in the $80 billion online travel industry," Donald Trump introduced this travel search engine powered by Travelocity in 2006. The site was supposed to host "Trump Picks" and "Trump Deals," and it was accompanied by the introduction of The Donald's "first-ever email address" (MrTrump@GoTrump.com) which he would be using to "offer travel tips and advice." The site was shut down a year later.
The Atlantic City casino Trump Plaza, which was built in the 1980s at a cost of $210 million, was sold off at the "fire sale price" of $20 million in 2013, not long before several casinos shut down in the fading gambling destination. Trump insists that he cashed out the vast majority of his interests in the Trump Plaza and nearby Trump Taj Mahal long before Atlantic City property values tanked, but earlier this year he reached an agreement to keep his name on them.
"Donald Trump is putting the suit and tie back in the mortgage business," a 2006 press release explained of his brand new venture, Trump Mortgage. Whatever that means. Less than two years later, the suit and tie were back in the closet, or perhaps up for sale at the consignment store, so to speak, as Trump Mortgage closed up shop. Trump speedily downplayed the venture as well, saying, "The mortgage business is not a business I particularly liked or wanted to be part of in a very big way."
AdAge described Trump Steaks, featured on the June 2007 cover of the Sharper Image catalogue, as like "a 'Saturday Night Live' spoof, but it's not."
Donald Trump made no secret of the fact that he doesn't drink. Nonetheless, a decade ago he rolled out Trump Vodka and promised it would be "a major player in the vodka arena" because "it's a superb product and it's beautifully packaged," and "there's nobody who markets better in the luxury category than Donald Trump." This is one "major player" that disappeared from the marketplace several years ago.