Third time is a charm

From the WSJ:

Trump Abandons Casino-Control Bid

Donald Trump, whose name is synonymous with Atlantic City gambling, abandoned his bid to regain control of the three New Jersey casinos that bear his name.

He and his daughter Ivanka Trump reached a settlement with a group of creditors they were battling for control of Trump Entertainment Resorts, which filed for bankruptcy protection in February. Under the deal, the Trumps will drop a $116 million bid for the casinos they had been making with Beal Bank, the company’s largest secured lender.

The noteholders’ reorganization plan will still need to be approved by the bankruptcy court. A confirmation hearing is scheduled for January.

The Trump Organization, the family’s privately held company, could receive as much as a 10% stake in the reorganized company. In addition, the three Atlantic City casinos—the Trump Taj Mahal, Trump Plaza and Trump Marina—would continue to use the Trump name and the likenesses of Mr. Trump and his daughter in marketing efforts. And Mr. Trump would have the right to use his name in gaming operations outside the region that surrounds Atlantic City.

Mr. Trump began developing casinos in the 1980s. This is the third time they were forced to seek bankruptcy protection. Mr. Trump held roughly a 30% stake in the company when it filed for Chapter 11 protection in February.

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21 Responses to Third time is a charm

  1. Outofstater says:


  2. 3b says:


  3. danzud says:

    So, here’s a typical NJ report story. Dad is looking at a condo in Avenura, FL so he can be a snowbird. Last Thursday, he gets the call from a realtor saying he needs an answer in 24 hours as they already have an offer. My dad decides not to deal with the pressure tactic and doesn’t make an offer. Surprising no one here, the realtor called my dad back today saying the offer didn’t go through……

    Some industries will never change.

  4. jamil says:

    hey, time for another Porkulus!
    Golden times for lobbyists. What could go wrong?

    ANDREW TAYLOR (AP) – 40 minutes ago WASHINGTON — House Democrats are looking at swelling deficits further, at least temporarily, on a jobs-producing bill in response to double-digit unemployment and a sense within their ranks that the party needs to do more to put people back to work. But many of the ideas on the table so far are extensions of last February’s $787 billion economic stimulus package — such as unemployment benefits and subsidies to help the jobless pay for health insurance.

  5. yikes says:

    guess why pacman wont fight mayweather in yankee stadium?

    taxes. fighters stand to lose up to $12 mil due to absurd taxes.

  6. morpheus says:

    Guess you were not a single, divorced mother with children. Sigh. Love those conservatives who dismiss those on government assistance.

    sometimes I feel that I am the only person qualified to comment on this on this blog.

    Ok. . .let the insults fly.

    Thank God I live in a country that did not let me starve as a child and loaned me money for my education (which was paid back).

    Before we get in a pissing contest on who grew up poorer, we were only on government assistance for a few years.

    I guess that makes me “unamerican”. . . Jamil?

    BTW jamil, why can’t you be like all those conservatives who in addition to bashing bruce are jumping on the “V” bandwagon and stating that the show is a referendum on Obama.

  7. morpheus says:

    God i need a drink!!!

  8. chicagofinance says:

    clot: WTF came out of Jeff Saut’s mouth at 3:10 after the British wanker starts yacking at 2:45?

  9. Outofstater says:

    #6 PIG = Pride Integrity Guts

  10. ByeByeAmerica says:


    Yuri Besmenov,

    This is who you remind me of. Long live the Republic.

  11. sas says:

    “Guess you were not a single, divorced mother with children”

    I’ve been done married 5 times.

    if anyone needs a handout, its me.


  12. chicagofinance says:

    I caught Frank moonlighting….

    I think the guy from Erasure could kick the crap about of this guy (I use the term loosely).

  13. chicagofinance says:

    I know a guy from college who is now the CEO of a midsized publicly traded insurance company. I also know that as a freshman in college, he was so drunk that we told him he was Ray Knight and he need to slide into third base. He runs across one of the quads and does a Pete Rose style belly flop into a fire hydrant and lost all his top front teeth……he had this song on repeat and would blast it through the dorm…

  14. Schumpeter says:

    chi (310)-

    Schrumpeter? WTF?

    This guy has a brain the size of a gnat’s. Wonder how many billions he runs (into the ground)?

  15. Schumpeter says:

    Note to self: short Raymond James’ “buy” list.

  16. Schumpeter says:

    chi (17)-

    I bet they use this song at Gitmo.

  17. Luigi Fulk says:

    One of my favorite artists, thank you! You can find loads of their music this over here

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