Trump Entertainment to miss bond interest payment

November 30, 2008 by · Leave a Comment
Filed under: Stock Market News 

No one in immune in this market, not even the Donald & Co.  Knowing our government, we will see us bailing out the casinos.  Wouldn’t that be some irony?  My only question is who will be bailed out this week and how much will it cost?  

Last I heard, this bailout has added $24,000 per citizen in public debt.  Why are we taking on this size of debt to bail out companies but nothing to directly help the actually people being affected or financing this burden?  This does not seem very democratic to me.

News:

Casino operator Trump Entertainment Resorts Inc said on Friday it will not make a $53.1 million bond interest payment due on December 1 in an effort to “maintain sufficient liquidity.”

Read more

Donald Trump sues lenders of unfinished skyscraper project

November 9, 2008 by · Leave a Comment
Filed under: Real Estate News 

Well ‘The Donald’ has a talent to get lenders to see things ‘his’ way.  I believe he will get his extension because we still have many wealthy people in this country and they like to live in his form of luxury.  The release talks about getting a extension on a $640 million dollar commercial construction loan.  If I was a lender I would rather have this marketing genius working on selling these units then to risk foreclosing on the project and then trying to sell them in this technically weak real estate market.

News:

Donald Trump sued the lenders of an unfinished Chicago skyscraper as he seeks an extension of the credit facility, amid the impact of the financial crisis in the real estate business, the Wall Street Journal said on its Website on Friday.

Read more