Trumps Capitalizing on Economic Meltdown

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Haute Living Los Angeles Jan/Feb 2012

Trumps Capitalizing on Economic Meltdown

by HauteLiving

Unlike the rest of America, Donald and Ivanka Trump claim to be excited about the slumping economy. Portraying The Donald’s typical air of confidence, in an interview with the AP, the real estate mogul and his daughter say that they are looking forward to profiting from one of the largest economic misfortunes in American history. Everyone in the Trump Organization is excited about the cheap real estate prices. This comes at a time when even Mr. Trump needs some help. It turns out he owes a lot of money to a lot of people, and he’s been having difficulty finding people who want to live in his 92-story Trump International Hotel & Tower in Chicago. It has been reported that he owes lenders as much as $1 billion; a fairly large chunk of this is due on November 1. Trump is currently in negotiations to push back the date. Assuming he accomplishes this feat, the long-term outlook is even less encouraging. Factor in the declining housing market, weak retail sales, the credit crunch, and the future looking a bit bleak. Trump says he isn’t worried. Unlike previous near-bankruptcies, his personal fortune is out of harms way.

Via Cityfile

Oct 30, 2008 12:24 PM

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