Tuesday, March 10, 2009

Trump's Business Gone Bankrupt

The main person in successful "The Apprentice" show that pits many people into back stabbing and biting at each other's neck, Donald Trump, has been found wanting again.

His fledging entertainment group, Trump Entertainment Resorts ("TER"), has filed for bankruptcy protection in New Jersey recently .............. for the third time. In view of the filing, he has resigned from the company as well even though he holds 28% of the stocks. Main reason for filing the bankruptcy protection was due to failure in extending the deadline on a US$53m bond payment.

TER's operation is rather huge as it has three casinos within the Atlantic City @ New Jersey area, namely the Trump Taj Mahal, the Trump Plaza Hotel & Casino and the Trump Marina Hotel Casino and yet these three casinos couldn't sustain TER.

Now, in his The Apprentice, any fella who fouls up a particular will get the sack and also will hear this three beautiful words "You Are Fired!".

Will Mr. Donald Trump hear these words from the stockholders and bondholders too? Well, he has resigned before any one can say that to him now.

How could this company go into bankruptcy for three times within a short period? Lessons never learnt? I think the next contestant that will be sacked from The Apprentice show will have the right to say the same three words to Donald Trump for TER's mess ........... hehe

The Apprentice is doing so well that it has a spin-off now, it's called "The Celebrity Apprentice".

Reading: Trump’s casino business goes bust for the third time - The Independent
Tags: Donald Trump, Trump Entertainment Resorts, New Jersey, The Apprentice, The Celebrity Apprentice, Bankruptcy Protection, Trump Taj Mahal, Trump Plaza Hotel & Casino, Trump Marina Hotel Casino



Blogger Borneo Falcon said...

Donald Trump is my hero. I practically watch every season of The Apprentice and the Celebrity Apprentice

10 March, 2009 08:33  
Blogger foongpc said...

Haha! He resigned before anyone can fire him! That's smart!

I think he will rise again as he had experienced bankruptcy before. I guess nothing stays the same forever. There's a cycle to everything.Good times and bad times.

Love The Apprentice show! And The Celebrity Apprentice is nice too! Totally enjoy both shows!

10 March, 2009 12:15  
Blogger soulesscloudy said...

wow... TER into bankruptcy?? really unbelievable..

I like Apprentice.. watched every episode.. unfortunately local TV doesn't really show the other season..

10 March, 2009 23:14  
Blogger Twilight Man said...

I have visited his Trump Tal Mahal in Atlantic City and Plaza Hotel in Manhattan. I can't believe that he is going bananas financially.

11 March, 2009 00:30  
Blogger Johnny Ong said...

borneo - no wonder he's getting richer each day bcuz of yr great support

foong - its not him that has gone bankrupt. its his company. but even if it was him personally, he's a risk taker and will find the right business and timing to rise up again. that i salute him

wanwan - yeah, mismanagement or lousy management team there

twilight - wow, u really do travel a lot

13 March, 2009 01:16  

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