topic Re: Trump Entertainment Resorts Inc. has filed for its third bankruptcy in Community Chat

Trump Entertainment Resorts Inc. has filed for its third bankruptcy

------ — Tue, 09 Sep 2014 16:35:17 GMT

From http://gothamist.com/2014/09/09/atlantic_city_casinos_closing.php

Next week, Trump Plaza will join the Atlantic Club, The Showboat, and Revel, in Atlantic City's hotel casino graveyard. But you can still sit ensconced in Ottoman-inspired decadence, a fat shrimp cocktail in one hand and a Trump Rewards card in the other, at the Trump Taj Mahal.Those days might soon be over.

Bloomberg News reports that Trump Entertainment Resorts Inc., the parent company of Trump Plaza and Trump Taj Mahal, has filed for its third bankruptcy today, citing a loss of $35 million in revenue at the Taj during the first six months of 2014.

The Taj (pronounced "TAHHJJJ" *sips liquor from plastic cup*) will close in November if the casino's parent company does not right the ship, and the move would put another 2,800 casino and hotel employees out of work in addition to the 8,000 that are already projected to lose their jobs from closures this year. It's worth pointing out that workers at the Taj Mahal have not received the federally mandated WARN notices yet, which are required to be sent out before a closure is imminent.

Donald Trump has even expressed concern—for himself. “We just want the name taken off the building," Trump told Bloomberg. "We have the hottest hotel portfolio in the world right now. They are not operating the hotel in accordance with our very high standard.”

Trump is currently suing to have his name taken off Trump Plaza and Trump Taj Mahal because he'd rather not be associated with the Trump Plaza and Trump Taj Mahal, even though he agreed to license the Trump name to both Trump casinos in 2009 and still owns 10% of a stake in the company. Trump Trump Trump Trump Bankruptcy.

Also located in the Trump Taj Mahal is Scores, the only gentleman's club located inside a casino in North America. The $25 million, 35,000 square-foot complex opened just a year ago,and perhaps overestimated the town's appetite for nudity.

The Taj Mahal might also feature The Most Decadent Wireless Internet In Atlantic City™.

At a highly publicized summit meeting on Atlantic City's future yesterday, the Taj Mahal wasn't discussed, but Governor Chris Christie did sign a directive that legalizes sports betting in AC, provided that no bets are placed on New Jersey collegiate events.

Professional and collegiate leagues will likely try and block that measure, as earlier this summerthe Supreme Court declined to hear New Jersey's appeal on a federal ban on sports betting in all but four states. According to the AP, the casinos are likely to wait for a lower court to bless Christie's directive.

Re: Trump Entertainment Resorts Inc. has filed for its third bankruptcy

terrier3 — Tue, 09 Sep 2014 16:38:45 GMT

Donald Trump just bid 900 million dollars for the Buffalo Bills.

Thankfully, he lost!

Re: Trump Entertainment Resorts Inc. has filed for its third bankruptcy

AngusandBuddhasMom — Tue, 09 Sep 2014 17:02:55 GMT

Considering the current state of the NFL and its apparent disregard for the treatment of women. Donald Trump becoming an owner of the Bills is the least of their worries.

Re: Trump Entertainment Resorts Inc. has filed for its third bankruptcy

terrier3 — Tue, 09 Sep 2014 17:09:38 GMT

On 9/9/2014 Caravaggio said:
Considering the current state of the NFL and its apparent disregard for the treatment of women. Donald Trump becoming an owner of the Bills is the least of their worries.

Believe it or not, the man who won, Terry Pegula has his wife as a full partner in his businesses.

They will be good for the NFL.

Re: Trump Entertainment Resorts Inc. has filed for its third bankruptcy

minkbunny — Tue, 09 Sep 2014 17:17:30 GMT

On 9/9/2014 terrier3 said:
On 9/9/2014 Caravaggio said:
Considering the current state of the NFL and its apparent disregard for the treatment of women. Donald Trump becoming an owner of the Bills is the least of their worries.

Believe it or not, the man who won, Terry Pegula has his wife as a full partner in his businesses.

They will be good for the NFL.

Believe it or not, the man who won, Terry Pegula has his wife as a full partner in his businesses

Why would it be hard to believe than a man's wife is a full partner in their business?

Re: Trump Entertainment Resorts Inc. has filed for its third bankruptcy

terrier3 — Tue, 09 Sep 2014 17:19:22 GMT

On 9/9/2014 minkbunny said:
On 9/9/2014 terrier3 said:
On 9/9/2014 Caravaggio said:
Considering the current state of the NFL and its apparent disregard for the treatment of women. Donald Trump becoming an owner of the Bills is the least of their worries.

Believe it or not, the man who won, Terry Pegula has his wife as a full partner in his businesses.

They will be good for the NFL.

Believe it or not, the man who won, Terry Pegula has his wife as a full partner in his businesses

Why would it be hard to believe than a man's wife is a full partner in their business?

Because of all the negative, anti-woman talk currently going on in the NFL.

Re: Trump Entertainment Resorts Inc. has filed for its third bankruptcy

Puzzle Piece — Tue, 09 Sep 2014 17:21:27 GMT

Nothing against Donald Trump. He and his investments hire lots of folks - people have jobs because of him. He's wealthy and that makes him a target of envy and gossip. Lots of petty folks out there.

Re: Trump Entertainment Resorts Inc. has filed for its third bankruptcy

terrier3 — Tue, 09 Sep 2014 17:29:20 GMT

On 9/9/2014 Love Roses said:
Nothing against Donald Trump. He and his investments hire lots of folks - people have jobs because of him. He's wealthy and that makes him a target of envy and gossip. Lots of petty folks out there.

He has ripped off a lot of his workers and vendors too...through his numerous bankruptcies.

Re: Trump Entertainment Resorts Inc. has filed for its third bankruptcy

CouponQueen — Tue, 09 Sep 2014 17:39:30 GMT

I think Donald only owns a small % of the business..

I would hate to see another Casino close. We love Atlantic City. We are not gamblers at all (probably the problem lol) and LOVED going from Sun to Friday...we would stay at different Casino Hotels and the prices were fantastic..Of course they were hoping we would spend significant in the casino's lol..we never did...$40 each maybe max!

I would rather put my money in something I can carry home...aka new handbag LOL..but hubby would spend a couple bucks and be happy!

We would go ..love the boardwalk...the outlets...the shop...the beach...Now we do the Condo thing with the grandkids..and our kids.

I hate to see yet another one go..

Re: Trump Entertainment Resorts Inc. has filed for its third bankruptcy

this is my nic — Tue, 09 Sep 2014 17:40:05 GMT

Once again A C is going down the tubes. I remember when it was a family friendly place to go. My parents and I went every summer for a short vacation. There were all sorts of amusements, the best was the Steel Pier. Then something happened, not sure what, and Atlantic City lost its luster. When the casinos came to town, the city was revitalized to a certain extent. Go off the boardwalk and the place looked run down and seedy. Now nearby states have opened their own casinos so people don't have to go to Atlantic City, they can stay close to home.

Re: Trump Entertainment Resorts Inc. has filed for its third bankruptcy

minkbunny — Tue, 09 Sep 2014 17:40:09 GMT

On 9/9/2014 terrier3 said:
On 9/9/2014 minkbunny said:
On 9/9/2014 terrier3 said:
On 9/9/2014 Caravaggio said:
Considering the current state of the NFL and its apparent disregard for the treatment of women. Donald Trump becoming an owner of the Bills is the least of their worries.

Believe it or not, the man who won, Terry Pegula has his wife as a full partner in his businesses.

They will be good for the NFL.

Believe it or not, the man who won, Terry Pegula has his wife as a full partner in his businesses

Why would it be hard to believe than a man's wife is a full partner in their business?

Because of all the negative, anti-woman talk currently going on in the NFL.

A very small portion of the NFL. And I would assume the businesses that his wife is full partner in were not, previous to this acquisition, the NFL. In this day and age, I would not think it odd for a man and wife to be full partners in any business.

Re: Trump Entertainment Resorts Inc. has filed for its third bankruptcy

Puzzle Piece — Tue, 09 Sep 2014 17:46:32 GMT

On 9/9/2014 terrier3 said:
On 9/9/2014 Love Roses said:
Nothing against Donald Trump. He and his investments hire lots of folks - people have jobs because of him. He's wealthy and that makes him a target of envy and gossip. Lots of petty folks out there.

He has ripped off a lot of his workers and vendors too...through his numerous bankruptcies.

Terrier, it's the bankruptcy judge who decides who the guy has to pay or not. many more wealthy businesses and investors also rip off, it's called white collar thievery - we just don't hear about all of it as they fly under the radar (the media).

Re: Trump Entertainment Resorts Inc. has filed for its third bankruptcy

terrier3 — Tue, 09 Sep 2014 17:53:49 GMT

On 9/9/2014 Love Roses said:
On 9/9/2014 terrier3 said:
On 9/9/2014 Love Roses said:
Nothing against Donald Trump. He and his investments hire lots of folks - people have jobs because of him. He's wealthy and that makes him a target of envy and gossip. Lots of petty folks out there.

He has ripped off a lot of his workers and vendors too...through his numerous bankruptcies.

Terrier, it's the bankruptcy judge who decides who the guy has to pay or not. many more wealthy businesses and investors also rip off, it's called white collar thievery - we just don't hear about all of it as they fly under the radar (the media).

So just because other businessmen do the same thing...it's OK?

I don't think so.

He is a legend in his own mind...that's about it.

Re: Trump Entertainment Resorts Inc. has filed for its third bankruptcy

Hoovermom — Tue, 09 Sep 2014 18:07:19 GMT

Donald Trump only owes 10% stake. Always after Donald Trump. Look at all the people he does employ.

Re: Trump Entertainment Resorts Inc. has filed for its third bankruptcy

Puzzle Piece — Tue, 09 Sep 2014 18:10:39 GMT

On 9/9/2014 terrier3 said:
On 9/9/2014 Love Roses said:
On 9/9/2014 terrier3 said:
On 9/9/2014 Love Roses said:
Nothing against Donald Trump. He and his investments hire lots of folks - people have jobs because of him. He's wealthy and that makes him a target of envy and gossip. Lots of petty folks out there.

He has ripped off a lot of his workers and vendors too...through his numerous bankruptcies.

Terrier, it's the bankruptcy judge who decides who the guy has to pay or not. many more wealthy businesses and investors also rip off, it's called white collar thievery - we just don't hear about all of it as they fly under the radar (the media).

So just because other businessmen do the same thing...it's OK?

I don't think so.

He is a legend in his own mind...that's about it.

No, it's not okay and please don't go that way. He does have his ego like most males, he just gets the publicity.

Re: Trump Entertainment Resorts Inc. has filed for its third bankruptcy

minkbunny — Tue, 09 Sep 2014 18:14:00 GMT

Most bankruptcies (we do them here at work) are to reorganize debts and debtors, business deals if you will. Unless a business is totally closed down and no business at all is taking place in that piece of real estate, there would be no reason for all employees to have to leave.

I would think, on the whole, that more people are employed by Mr. Trump than have lost their jobs due to any reorganization of his business dealings.

Re: Trump Entertainment Resorts Inc. has filed for its third bankruptcy

tansy — Tue, 09 Sep 2014 18:16:16 GMT

He becomes very indignant when anyone points out he has gone bankrupt before and don't mention his hairdo either

Re: Trump Entertainment Resorts Inc. has filed for its third bankruptcy

------ — Tue, 09 Sep 2014 18:30:25 GMT

On 9/9/2014 minkbunny said:
Most bankruptcies (we do them here at work) are to reorganize debts and debtors, business deals if you will. Unless a business is totally closed down and no business at all is taking place in that piece of real estate, there would be no reason for all employees to have to leave.

I would think, on the whole, that more people are employed by Mr. Trump than have lost their jobs due to any reorganization of his business dealings.

I'm not sure how interested he remains in the Taj since he wants his name removed. Looks like he wants to abandon this investment.

Re: Trump Entertainment Resorts Inc. has filed for its third bankruptcy

minkbunny — Tue, 09 Sep 2014 18:31:58 GMT

On 9/9/2014 ------ said:
On 9/9/2014 minkbunny said:
Most bankruptcies (we do them here at work) are to reorganize debts and debtors, business deals if you will. Unless a business is totally closed down and no business at all is taking place in that piece of real estate, there would be no reason for all employees to have to leave.

I would think, on the whole, that more people are employed by Mr. Trump than have lost their jobs due to any reorganization of his business dealings.

I'm not sure how interested he remains in the Taj since he wants his name removed. Looks like he wants to abandon this investment.

I agree, he wants out of the businesses that he is not actively involved in (or so I have heard). I believe he just licensed his name to some.

And frankly, that is one gaudy building. I would want out too

Re: Trump Entertainment Resorts Inc. has filed for its third bankruptcy

------ — Tue, 09 Sep 2014 18:44:52 GMT

On 9/9/2014 minkbunny said:
On 9/9/2014 ------ said:
On 9/9/2014 minkbunny said:
Most bankruptcies (we do them here at work) are to reorganize debts and debtors, business deals if you will. Unless a business is totally closed down and no business at all is taking place in that piece of real estate, there would be no reason for all employees to have to leave.

I would think, on the whole, that more people are employed by Mr. Trump than have lost their jobs due to any reorganization of his business dealings.

I'm not sure how interested he remains in the Taj since he wants his name removed. Looks like he wants to abandon this investment.

I agree, he wants out of the businesses that he is not actively involved in (or so I have heard). I believe he just licensed his name to some.

And frankly, that is one gaudy building. I would want out too

It really is horrible looking. It reminds me of those plaster cast molds that I made as a kid.