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11/22/2004

 

Donald Trump and Business


With a glance at Donald Trump's current casino situation, I've determined that the guy is good. Damn good.

Trump Atlantic City Associations lists $1.5-million in assets with $1.3-billion in debt – the story said M million in assets, but I'm not certain that it's not a B billion – to creditors like Bear Stearns, Bank of New York Co., J.P. Morgan Chase & Co. and Goldman Sachs Group Inc. He files Chapter 11, in debt up to his toupee.

So what happens? He somehow convinces Morgan Stanley to lend him $500-million and Beal Bank to let him borrow another $100-million. That is good.

He may be a lousy businessman – I don't rate them – but he's definitely got something Clintonesque going on. If you want to pull the scam, that's good.

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