Trump to miss interest payment

Discussion in 'Wall St. News' started by turkeyneck, Nov 30, 2008.

  1. Trump Entertainment to miss interest payment

    Donald Trump, the television personality and New York real estate investor, is non-executive chairman and the largest shareholder of Trump Entertainment, which operates three Atlantic City casinos: The Trump Taj Mahal and the Trump Plaza on the Boardwalk and the Trump Marina in the Marina district. The last is being sold to Coastal Development for $270 million in a deal that has seen the price lowered and the closing deadline delayed.

    Trump Entertainment "is separate and distinct from Mr. Trump's privately held real estate and other holdings, which the company understands encompasses substantially all of his net worth," the company said.
    After his casinos twice ran into bankruptcy, Trump was removed from having any operating role in them as part of the deal that brought the company out of Chapter 11 the last time around.

    And it could happen again: Earlier this month, Fitch Ratings warned that after the company drew a remaining $25 million available on its credit facility this quarter to help fund an expansion, "it will have little to no access to committed external funds."}&dist=SecMostRead
  2. BK is part of Trump's business plan...
  3. Yep, it's not his first time around by any means. He comes out richer and screws everyone else along the way. He's a snake oiler of immense proportions. I'm surprised he doesn't sell commodity or stock trading systems.
  4. cstfx


    Not quite stocks but...
  5. TGregg


    All I knew about him was his public persona. Then I watched him on his TV show - The Apprentice. Good show, at least for the first few seasons. That show revealed far more about him then he would wish, at least to viewers who have a decent understanding of markets, finance and business.
  6. I respect a couple aspects of the man, but overall, he's a real wanker:

    Exhibit C? Or D? Whichever:

  7. Great analogy. Sounds like something he can do to supplement his income as he works through the BK process once again to clean out his creditors.
  8. His endorsement of an alcoholic beverage is goofy because he is a non-drinker and his brother was an alcoholic.
    #10     Dec 1, 2008