Wednesday, March 30, 2016

Trump's tough times.

Trump's tough times is taken from Wall Street Journal on 1/4/2016.
In the summer of 1990: Trump finds himself deep in debt amid a national recession and a casino-market glut.
August 1990: Agrees with a group of lenders to restructure $21 to loans.
Fall: Struggles to pay interest on Tai Mahal casino in Atlantic City, N.J negotiates with bondholders.
July 1991: Places Tai Mahal under bankrupty protection.
1991: Sells personal Boeing 727 and Trump Princess yacht.
March 1992 Places two more casinos, Trump Plaza and Trump Castle, in bankruptcy
1993: Uses part of proceeds of a Trump  Plaza notes sale to repay new York debt.
1993: Sues co-owner of Grand Hyatt hotel, the Pritzker family.
1994: Sells 70% of a large West Side Manhattan tract to Hong Kong investors.
1995: Feuds with Citibank over potential sale of the Plaza hotel.
1995: Sells Plaza to buyers picked by Citibank.
1995: Takes Trump Plaza casino public.
1995: Makes deal with lenders to erase the last of his personal debt.
1996: Sells rest of his casino to his public casino company.
1996: Settles suit with Pritzkers sells them his half of Grand Hyatt hotel in New York.
1996: Cuts deal with banks to end global debt restructuring pact.

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