It must be the most expensive paperback in history – Think Big and Kick Ass inspired Ipswich entrepreneur Malcolm Quinn to sink more than $1m into pursuading the book’s author, Donald Trump to visit Australia for a series of “Think like a billionaire” speaking tours (TodayTonight June 30, 2008 Trump down under).
The trip is now off due to poor ticket sales, with less than a quarter of the tickets sold. Quinn’s friends attribute this to the current economic downturn, others say lack of experience and inadequate planning. Reports say that Trump has pocketed the $1m+ downpayment (Brisbane Times Oct 3, 2008 Trump blasts ‘inexperienced’ QLD promoter) and there are indications he will pursue the remainder of his $2m contract. With the failure of Quinn’s business it is an expensive lesson indeed, and creates a long line of creditors who were caught up in the event, including ticket holders, sponsor Sarina Russo, and event contractors.
There was a lot of talk about this at work over the last couple of days, as Quinn’s Concept Store was our marketing firm and heavily involved in a couple of our present fundraisers. The effect on us of this turn of events is quite minimal. To give credit to Malcolm Quinn, he has honoured his obligations to us by ensuring the work on his side has continued. So far the local community is standing behind Malcolm, with very little noise in the local press and the Ipswich mayor Paul Pisasale coming out in defence of his friend.
A foolish venture perhaps, but a terrible disaster for Malcolm Quinn and his family nonetheless.