Wednesday, December 27, 2017


Dear City of Racine Alderpersons,
President Donald Trump has proven - again and again - that Bankruptcy is the way to preserve wealth and ensure future growth. So far, it is a strategy that the functionally bankrupt City of Racine has failed to explore/implement.

Fourth Time's A Charm: How Donald Trump Made Bankruptcy Work For HimHere at FORBES, we've been tracking Donald Trump's wealth since the inaugural Forbes 400 rich list in 1982. Today, we value him at $2.7 billion, although he claims he's worth far more. One question we're often asked when talk turns to Trump's fortune: how can a man who has been bankrupt so many times remain a multi-billionaire? How is he worth more now, post-bankruptcies? We spoke to bankruptcy lawyers and casino industry experts -- some of whom have had firsthand involvement in Chapter 11 cases connected to Trump -- in an attempt to explain how he has survived corporate bankruptcies and thrived in the aftermath.
With the RDA operating at a loss on borrowed money, multiple lawsuits coming your way, and the City of Racine burning through it's reserves at an unsustainable rate -  per the City of Racine 2016 Audited Financial Report - the option of declaring Bankruptcy needs to be considered. If special legislation is required - don't worry - the Walker Administration will do it.
The City of Racine is operating at a loss of  $22,000,000 + dolllars - and this is not sustainable.
Tim & Cindy

1 comment:

TSE said...

The City of Racine Attorney's Office is burning through over $1.1M cash per year - while Lawsuits only multiply!

When do City of Racine Alderpersons *WAKE UP* and FIRE the Incompetents who are providing bad legal advice?

And that includes Letteney and Ekes!