Hi,
I know this is a little off track but does anyone know the latest on Trump I heard he was in some deep financial problems.[blink]Martin
Not sure, but he has a nice girlfriend and a nice hairdo as well.
I heard he was making a fortune from the new tv shows, “the appentrice”.
Terryw
Discover Home Loans
North Sydney
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I heard the company Bill (winner of apprentice) was employed to run went broke and the project for the building has gone down the tube.
Luke
ChangingPlaces Real Estate.
Save up to 65% on Real Estate commissions.
Mobile: 0421 224 696 Email:[email protected]I was under the impression that his casino had gone into bankruptcy[blink]
Martin
One of Trumps companies – the one listed on the NYSE (stock exchange) – Trump Hotels and Casinos (which owns his Atlantic City Casinos) – has filed for Chapter 11 which is the step before bankruptcy. Basically the company has gone ‘on hold’ while they negotiate with creditors as they owe a lot of money on bonds they had issued.
In regards to TRUMP himself he only owns 25% of this company and they holding only equates to about 15% (as far as I heard) of his net worth, thus hasn’t effected him much at all.
Also the Chicago development that Bill is controlling is privately held by Trump and not associated with the listed company that is in trouble..
…Beware of the dreamtakers…
As noted above the filing only affects Trumps Hotel and Casino’s Group.
The group has filed chapter 11 bankruptcy protection which is a reorganization of assets and liabilities. Or in other words, it enables the group to write down most if not all of its debt.
In the United States this is often more a strategic move than indication the company is in the process of being “folded”. Which is the case in this circumstance.
Unfortunately a number of creditors will get burned, and Donald cannot continue to act as CEO, but in only a few months the group will be in a much stronger position financially which will be reflected in its stock price.
To clarify a point noted, the hotel and casinos group makes up only 2 percent of Donald Trumps net worth and is therefore somewhat inconsequential.
— Michael
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